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HomeMy WebLinkAboutCardinal Construction - Amendment to Dev Agmt - 2/26/2018Prepared by Christopher S. Wendland, P.O. Box 596, Waterloo, IA 50703. 319-234-5701 Return to Waterloo Planning Dept, 715 Mulberry Street, Waterloo, IA 50703 AMENDMENT TO DEVELOPMENT AGREEMENT This Amendment to Development Agreement (the "Amendment") is entered into as of D,A.47 , 2018, by and between the City of Waterloo, Iowa ("City") and Cardinal Construction, Inc. ("Company"). RECITALS A. Company and City are parties to that certain Development Agreement dated August 7, 2017 (the "Agreement") concerning the development of property as described in the Agreement. B. The parties desire to amend the Agreement on the terms set forth herein. NOW, THEREFORE, in consideration of the premises and of other consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree to amend the Agreement as follows: 1. The Agreement is amended to add the following new Section 2.1: 2.1. Platting of Property. The parties agree that the Property is to be platted as Brock Third Addition. The parties will cooperate in formulating and finalizing the plat. Company acknowledges that it has reviewed preliminary and final plats of Brock Third Addition and hereby consents to said platting. 2. Exhibit "A" is hereby stricken in its entirety, and a new Exhibit "A" as attached to this Amendment is substituted in its place. 3. Except as modified herein, the Agreement shall continue unmodified in full force and effect. Capitalized terms used herein that are not defined in this Amendment shall have the meaning attributed 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. CARDINAL CONSTRUCTION, INC. CITY OF WATERLOO, IOWA B Title: i,/Jt-_ 2 By: 1G_ =1 Quentin M. Hart, Mayor Attest: elley Filo-File, City Clerk EXHIBIT "A" Legal Description of Property See attached.