HomeMy WebLinkAboutBread to Beer, LLC - Second Amendment to Dev Agmnt-10/9/2017Preparer
Information: Christopher S. Wendland, PO Box 596, Waterloo, Iowa 50704
Name Address City
(319) 234-5701
Phone
SECOND AMENDMENT TO DEVELOPMENT AGREEMENT
This Amendment to Development Agreement (the "Amendment") is entered into
as of October , 2017, by and between Bread to Beer, LLC ("Company") and the
City of Waterloo, Iowa ("City").
RECITALS
A. Company and City are parties to a certain Development Agreement dated
September 8, 2015 and filed September 30, 2015 as Doc. No. 2016-6142,
as amended by an amendment dated January 11, 2016 (collectively, the
"Agreement"), providing for Company's development of certain properties
on the terms set forth therein.
B, The parties desire to further amend the Agreement to modify the terms
thereof as set forth in this Amendment.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
the parties agree as follows:
1. The parties acknowledge that Company has fulfilled all requirements
indicated in paragraph 3.A. Any balance of funds owed to Company of the $160,000
originally authorized shall be paid to Company within thirty (30) days after the date of
this Amendment.
2. The Agreement is hereby amended to add a new Section 3.G as follows:
G. Additional Project Costs. The parties agree that the following
additional costs have been incurred in connection with the Project:
Water stub disconnection
Hazardous waste handling/disposal
$8,606.00
$1,863.00
City will pay such costs directly within thirty (30) days after the date of this
Amendment or will reimburse Company for such costs within thirty (30) days
after the date of this Amendment or, if later, within thirty (30) days after the date
that Company delivers corroborating documentation to City.
3. Except as modified herein, the Agreement as previously amended shall
continue unmodified in full force and effect. Terms in this Amendment that are
capitalized but not defined will have the same meanings herein that are ascribed to
them in the Agreement. The Agreement and this Amendment shall inure to the benefit
of and be binding upon the parties and their respective successors and assigns.
IN WITNESS WHEREOF, the parties have executed this Amendment to
Development Agreement by their duly authorized representatives as of the date first set
forth above.
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CITY OF WATERLOO, IOWA BREAD TO BEER, LLC
/
By: GU — By:
Quentin M. Hart, Mayor David Morgan, Manager
Attest:
Ke ley Felc e, ity Clerk
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