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HomeMy WebLinkAboutDeer Creek Development LLC-9/6/2016irro11111iiuo11111iii11111111111111111111ma Doc ID. 007157990002 Type GEN Recorded: 09/30/2016 at 12:30:17 PM Fee Amt: $12.00 Page 1 of 2 Black Hawk County Iowa SANDIE L. SMITH RECORDER F11e201 / _00008298 Ire; oc Val..t:Pat 06 Prepared by and return to: Michael D. Youngblut, 315 5th St., P.O. Box 476, Hudson, IA 50643; (319) 988-3011 THIRD AMENDMENT TO DEVELOPMENT AGREEMENT This Third Amendment to Development Agreement (the "Third Amendment") is entered into as ULS'— 6-, 2016, by and between the City of Waterloo, IA ("City") and Deer Creek Develoent, LLC ("Company"). RECITALS A. Company and City are parties to a certain Development Agreement entered into as of October 13, 2006 (the "Agreement"). The Agreement provided for certain grants to be made by City to Company from specific tax revenues generated by the Property in connection with specified development activities. The Agreement was previously amended by an Amendment to Development Agreement entered into as of July 7, 2008 (the "First Amendment"), and a Second Amendment to Development Agreement entered into as of March 14, 2011 (the "Second Amendment"). B. The parties desire to further amend the Agreement on the terms set forth herein. NOW, THEREFORE, in consideration of the mutual promises set forth herein, the parties hereby agree to amend the Agreement as follows: 1. The Agreement is hereby amended to strike Section 2 in its entirety and to add a new Section 2 as follows: "2. Timeliness of Construction. Company must begin construction of the Street Improvements within nine (9) months from the date of this Agreement and complete construction of the Street Improvements within eleven (11) years thereafter. Street Improvements not completed within eleven (11) years will not be eligible for the incentives provided in this Agreement." 2. Except as modified herein, the Agreement shall continue in full force and effect. The Agreement, as amended by the First Amendment, Second Amendment and this Third Amendment, shall inure to the benefit of and be binding upon the parties and their respective successors and assigns. Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Agreement. /,;2•cov"Xk (I IN WITNESS WHEREOF, the parties have executed this Third Amendment to Development Agreement by their duly authorized representatives as of the date first set forth above. DEER CREEK DEVELOPMENT, LLC CITY OF WATERLOO, IA By: / V G! Harold Yongblt. President 2 By: Vierel Quentin Hart, Mayor By: Suzy Sc es, City Clerk EXHIBIT A-1 Legal Description of Additional Property Lot 3, Block 16, Hayes Addition, Waterloo; and That part of the vacated alley in Block 16 of Hayes Addition lying Southeasterly of a line drawn between the Northerly most corner of Lot 8 of said Block 16 and the Westerly most corner of Lot 3 of said Block 16, and lying Northwesterly of a line drawn between the Southerly most corner of Lot 3 of said Block 16 and the Northerly most corner of Lot 9 of said Block 16, except the Southwesterly half of that part of the vacated alley in Block 16 of Hayes Addition Tying Southeasterly of a line drawn between the Northerly most corner of Lot 8 of said Block 16 and the Westerly most corner of Lot 3 of said Block 16, and Tying Northwesterly of a line drawn between a point on the Northeasterly line of said Lot 8 that is 45 feet Southeasterly of the Northerly most corner of said Lot 8 and a point on the Southwesterly line of said Lot 3 that is 45 feet Southeasterly of the Westerly most corner of said Lot 3, City of Waterloo, Black Hawk County, Iowa, subject to retention of a utility easement over, under, and upon said vacated alley. IIlIIIIIIIJIIIHhIllhIOIHIJI1. IIIIIItIIIIIIIIIIIIIIIItII iiIIIIilii Doc ID 007158180003 Type GWH Kind GROUND WATER HAZARD STATEMENT Recorded: 09/30/2016 at 01:45:10 PM Fee Amt: $0.00 Page 1 of 3 Black Hawk County Iowa SANDIE L. SMITH RECORDER File9998_00003852 REAL ESTATE TRANSFER - GROUNDWATER HAZARD STATEMENT TO BE COMPLETED BY TRANSFEROR TRANSFEROR: Name City of Waterloo, Iowa Address 715 Mulberry Street, Waterloo, Iowa 50703 Number and Street or RR City, Town or P.O. State Zip TRANSFEREE: Name 3 Little Lambs, LLC Address 315 E. Fifth Street, Waterloo, Iowa 50703 Number and Street or RR City, Town or P.O. State Zip Address of Property Transferred: S-ec CA}it3Ce Number and Street or RR City, Town or P.O. State Zip Legal Description of Property: (Attach if necessary) See attached legal description 1. Wells (check one) X There are no known wells situated on this property. _ There is a well or wells situated on this property. The type(s), location(s) and legal status are stated below or set forth on an attached separate sheet, as necessary. 2. Solid Waste Disposal (check one) x There is no known solid waste disposal site on this property. _ There is a solid waste disposal site on this property and information related thereto is provided in Attachment #1, attached to this document. 3. Hazardous Wastes (check one) X There is no known hazardous waste on this property. There is hazardous waste on this property and information related thereto is provided in Attachment #1, attached to this document. 4. Underground Storage Tanks (check one) X There are no known underground storage tanks on this property. (Note exclusions such as small farm and residential motor fuel tanks, most heating oil tanks, cisterns and septic tanks, in instructions.) _ There is an underground storage tank on this property. The type(s), size(s) and any known substance(s) contained are listed below or on an attached separate sheet, as necessary. FILE WITH RECORDER DNR form 542-0960 (July 18, 2012) 5. Private Burial Site (check one) x There are no known private burial sites on this property. _ There is a private burial site on this property. The location(s) of the site(s) and known identifying information of the decedent(s) is stated below or on an attached separate sheet, as necessary. 6. Private Sewage Disposal System (check one) x All buildings on this property are served by a public or semi-public sewage disposal system. _ This transaction does not involve the transfer of any building which has or is required by law to have a sewage disposal system. There is a building served by private sewage disposal system on this property or a building without any lawful sewage disposal system. A certified inspector's report is attached which documents the condition of the private sewage disposal system and whether any modifications are required to conform to standards adopted by the Department of Natural Resources. A certified inspection report must be accompanied by this form when recording. There is a building served by private sewage disposal system on this property. Weather or other temporary physical conditions prevent the certified inspection of the private sewage disposal system from being conducted. The buyer has executed a binding acknowledgment with the county board of health to conduct a certified inspection of the private sewage disposal system at the earliest practicable time and to be responsible for any required modifications to the private sewage disposal system as identified by the certified inspection. A copy of the binding acknowledgment is attached to this form. — There is a building served by private sewage disposal system on this property. The buyer has executed a binding acknowledgment with the county board of health to install a new private sewage disposal system on this property within an agreed upon time period. A copy of the binding acknowledgment is provided with this form. There is a building served by private sewage disposal system on this property. The building to which the sewage disposal system is connected will be demolished without being occupied. The buyer has executed a binding acknowledgment with the county board of health to demolish the building within an agreed upon time period. A copy of the binding acknowledgment is provided with this form. [Exemption #9] _ This property is exempt from the private sewage disposal inspection requirements pursuant to the following exemption [Note: for exemption #9 use prior check box]: _ The private sewage disposal system has been installed within the past two years pursuant to permit number Information required by statements checked above should be provided here or on separate sheets attached hereto: I HEREBY DECLARE THAT I HAVE REVIEWED THE INSTRUCTIONS FOR THIS FORM AND THAT THE I = ;.u+ N STATED ABOVE IS TRUE AND CORRECT. (Transferor or Age FILE WITH RECORDER Telephone No.: 319-291-4366 DNR form 542-0960 (July 18, 2012) EXHIBIT A-1 Legal Description of Additional Property Lot 3, Block 16, Hayes Addition, Waterloo; and That part of the vacated alley in Block 16 of Hayes Addition lying Southeasterly of a line drawn between the Northerly most corner of Lot 8 of said Block 16 and the Westerly most corner of Lot 3 of said Block 16, and lying Northwesterly of a line drawn between the Southerly most corner of Lot 3 of said Block 16 and the Northerly most corner of Lot 9 of said Block 16, except the Southwesterly half of that part of the vacated alley in Block 16 of Hayes Addition lying Southeasterly of a line drawn between the Northerly most corner of Lot 8 of said Block 16 and the Westerly most corner of Lot 3 of said Block 16, and lying Northwesterly of a line drawn between a point on the Northeasterly line of said Lot 8 that is 45 feet Southeasterly of the Northerly most corner of said Lot 8 and a point on the Southwesterly line of said Lot 3 that is 45 feet Southeasterly of the Westerly most corner of said Lot 3, City of Waterloo, Black Hawk County, Iowa, subject to retention of a utility easement over, under, and upon said vacated alley.