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HomeMy WebLinkAboutUS Bank - Enroachment Agmnt - 1/28/19Prepared by: Seth Hyberger, 715 Mulberry Street, Waterloo, Iowa 50703 (319) 291-4366 ENCROACHMENT AGREEMENT THIS ENCROACHMENT AGREEMENT is entered into by and between U.S. Bank National Association, successor in interest to Mercantile Bank of Northern Iowa, hereinafter "US Bank", and the City of Waterloo, Iowa, hereinafter "City" this 20 day of )t"/\ , 2019. WHEREAS, US Bank is the owner of real estate commonly known as 425 Cedar Street, Waterloo, Iowa 50701 and legally described as Exhibit "A", hereinafter "US Bank Property"; and WHEREAS, US Bank is proposing to construct and maintain a 3' X 2' (6 SF) sign, hereinafter "Sign" that encroaches 10' into the public right-of-way, hereinafter "right-of-way"; and WHEREAS, US Bank is requesting the City to allow said Sign within a portion of said right-of- way as shown on the attached Exhibit "B" (hereinafter the "Encroachment Area") and WHEREAS, the City is willing to allow said Sign to encroach into said Encroachment Area described above, subject to the following agreement regarding each party's rights. 1. US Bank hereby recognizes and reaffirms, said right-of-way and claims no rights or privileges therein except to the limited extent provided in this agreement. 2. The City grants US Bank the right to place and maintain said Sign in said Encroachment Area, subject to the rights of the City and/or any agency to which the City has granted a utility franchise or right-of-way License Agreement to and for access over, under and upon said right-of-way, expressly recognizing and acknowledging that any damage that occurs to said Sign will be the sole risk and expense of US Bank, including repair, removal, moving, or replacement expenses, unless caused by City's negligence or intentional acts. In the event that the City and/or any agency to which the City has granted a utility franchise or right-of-way License Agreement needs said Sign to be temporarily moved for access to said right- of-way, US Bank shall move said Sign if present and able, otherwise the City of Waterloo and/or any agency to which the City has granted a utility franchise or right-of-way License Agreement shall be authorized to remove said Sign and assess any costs for removal against US Bank, or US Bank Property. 3. The term of this agreement shall be for so long as said Sign is maintained by US Bank, and said Sign continues to exist, and that this agreement shall automatically terminate if said Sign is removed (other than for temporary removal during replacement or repair). It is understood and agreed that this Agreement is appurtenant to the US Bank Property and runs with the land. It is further understood and agreed that this agreement may be terminated by the City of Waterloo upon 60 days notice and order to permanently remove to US Bank and that US Bank agree to remove said Sign prior to the end of the 60 days notice and termination of this agreement. The City will provide just cause to US Bank if the sign is to ever be removed. If US Bank fails to remove said Sign upon termination of this agreement US Bank authorize the City of Waterloo to remove said Sign and assess costs to US Bank, or against US Bank Property. 4. US Bank shall protect, defend, indemnify, and hold harmless the City and its successors and assigns and their officers, elected officials, employees, and agents, and any agency to which the City has granted a utility franchise or right-of-way License Agreement from any claim, damages, liability and expenses (including, but not limited to, reasonable attorney's fees and costs of litigation) of any type or nature whatsoever arising out of the use, maintenance, or removal of said Sign, including, but not limited to any damage to said right-of-way or said Sign. This covenant shall survive the termination of this Agreement. 5. This is the entire agreement between the parties with respect to subject matter hereof. It may be amended only in a written instrument signed by the parties. This agreement is binding upon the parties and their respective transferees, successors, heirs and assigns. Time is of the essence in observing the terms of this agreement. In WITNESS WHEREOF, the parties have executed this Encroachment Agreement by their duly authorized offices as of the date first set forth above. U.S. Ba' yu'on. ssociation Mary ! olloy, Vice President/ Facility Manager U.S.:,. nk National Association f-. arry G. Morgan, Senior( Vice President City of Waterloo By: Quentin Hart Its: Mayor ttest: elley Felchle, ity Clerk STATE OF T. u w a ) COUNTY OF Palk ) SS. zbEi Af On this day ofsfartu,4,r4t, 28-1-813eTore me, the undersigned, a Notary Public in and for the State of Owk , Mary E. Molloy personally appeared to me known to be the identical person named herein and who executed the foregoing instrument and acknowledged that they executed the same as their voluntary act and deed. STATE OF V t o COUNTY OF 15 tr'+ I ) SS. Notary Public OO A 2� 1o."• On this of O day of JO.YtitMtV , 2018 before me, the undersigned, a Notary Public in and for the State of d t\,; (j , Larry/G. Morgan personally appeared to me known to be the identical person named herein and who executed the foregoing instrument and acknowledged that they executed the same as their voluntary act and deed. STATE OF IOWA ) COUNTY OF BLACK HAWK ) SS. ANN D. BARRON Commission No. 724997 My Comm. Expires s/A -2i %SOF This instrument was acknowledged before me on this 7,8 day of 'i , 2018 by Quentin Hart and Kelley Felchle as Mayor and City Clerk, respectively, of the City of Waterloo. ,7es229 JACOB BAILEY Notary Public, State of Ohio'' My Comm. Expires Mar. 27, 242 "Exhibit A" DESCRIPTION: REMAINDER PROPERTY A PARCEL OF LAND SITUATED IN PART OF LOTS 1, 2, 3, 4 AND 5, IN BLOCK 1, AND PART OF VACATED CEDAR STREET LYING NORTHEAST OF LOTS 1, 2, 3, 4 AND 5, IN BLOCK 1, AND PART OF VACATED 3RD STREET LYING NORTHWEST OF LOT 5, IN BLOCK 1, ALL IN THE ORIGINAL PLAT ON THE WEST SIDE OF THE CEDAR RIVER IN THE CITY OF WATERLOO, COUNTY OF BLACK HAWK, STATE OF IOWA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE SOUTHEAST LINE OF SAID LOT 1, WHICH IS 40.00 FEET NORMALLY DISTANT NORTHEAST OF THE SOUTHWEST LINE OF SAID LOT 1; THENCE NORTH 48^ (DEGREES) 57' (MINUTES) 19" (SECONDS) WEST (ASSUMED BEARING FOR THE PURPOSE OF THIS DESCRIPTION) ON A LINE THAT IS 40.00 FEET NORTHEAST OF AND PARALLEL WITH THE SOUTHWEST LINE OF LOTS 1, 2, 3, 4 AND 5 IN BLOCK 1 OF SAID ORIGINAL PLAT ON THE WEST SIDE OF THE CEDAR RIVER IN THE CITY OF WATERLOO, AND ITS EXTENSION NORTHWESTERLY, 307.21 FEET; THENCE NORTH 411\02'41" EAST, 185.00 FEET TO A LINE THAT IS 15.00 FEET SOUTHWEST OF AND PARALLEL WITH THE SOUTHWEST LINE OF FRACTIONAL BLOCK 1 OF SAID ORIGINAL PLAT ON THE WEST SIDE OF THE CEDAR RIVER IN THE CITY OF WATERLOO; THENCE SOUTH 481'57'19" EAST ON THE LINE THAT IS 15.00 FEET SOUTHWEST OF AND PARALLEL WITH THE SOUTHWEST LINE OF SAID FRACTIONAL BLOCK 1, A DISTANCE OF 307.63 FEET TO THE PRESENT NORTHWESTERLY RIGHT-OF-WAY LINE OF PARK AVENUE; THENCE SOUTH 41^10'27" WEST ON THE PRESENT NORTHWESTERLY RIGHT-OF-WAY LINE OF PARK AVENUE, ALSO BEING THE SOUTHEASTERLY LINE OF SAID LOT 1 AND ITS NORTHEASTERLY EXTENSION, 185.00 FEET TO THE POINT OF BEGINNING. CONTAINING 56,873 SQUARE FEET, OR 1.31 ACRES. :5 EXHIBIT "B"