HomeMy WebLinkAboutPlanergy Waterloo, LLC - Ground Lease Termination Agmnt - 10/22/2018 Please return this copy to:
City Clerk&Finance Dept.
715 Mulberry 5t.
Waterloo,IA 50703
GROUND LEASE TERMINATION AGREEMENT
This Agreement is entered into as of October 2--7 ,, 2018 in connection with termination of the
Ground Lease dated January 2, 2007 between the City of Waterloo, Iowa ("Landlord") and
Planergy Waterloo, LLC, an Iowa limited liability company ("Tenant").
Agreement
1. Tenant has removed its equipment, except for two 8,000-gallon stainless steel
tanks ("tanks") and the concrete pad used to hold the equipment. Tenant hereby donates the
tanks, as is and where is, to the Landlord. Tenant will leave the existing concrete pad and
surrounding rock intact. Tenant will also cover the iron sponge laydown area with 2 inches of
black dirt and grass seed by November 1, 2018. Landlord agrees that such actions by Tenant
will satisfy Tenant's obligations under paragraph 6(c) of the Ground Lease.
2. Tenant also agrees to transfer ownership of the server, keyboard, mouse, LED
screen and Netgear Prosafe VPN all associated with the data gathering, storage and report
transmission of the lagoon gas meter sold to the Landlord. Landlord agrees to accept the
transfer of the existing Mediacom internet account from Tenant to operate the server and
equipment. Tenant certifies that the Mediacom account is paid up as of the date hereof.
3. The Ground Lease is hereby terminated.
4. This Agreement is binding on the parties and their respective successors and
assigns. This Agreement may be signed in multiple counterparts, all of which together shall
constitute a single instrument.
IN WITNESS WHEREOF, the parties have executed this Agreement by their duly
authorized representatives as of the date first set forth above.
LANDLORD TENANT
CITY OF WATERLOO, IOWA PLANERGY WATERLOO, LLC
5 -'
Quentin Hart, Mayor JSprangeanager
o n rs,
Attest: Kj ��I&
Kelley Felchle, 6
ity Clerk