HomeMy WebLinkAboutLGCompanies, LLC - Release of Reversionary Rights - 1/22/19Prepared by Christopher S. Wendland, P.O. Box 596, Waterloo, IA 50704. Phone (319) 234-5701
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RELEASE OF REVERSIONARY RIGHTS
WHEREAS, on or about December 11, 2017, the City of Waterloo, Iowa ("City") and
LGCompanies LLC ("Developer") entered into a certain Development Agreement (the "Agreement"), filed
February 19, 2018, as Doc. No. 2018-13526, concerning real property legally described as referenced in the
Agreement; and
WHEREAS, the Agreement provided a right of reversion to the City if the Developer failed to take
timely action to develop the property on the terms set forth in the Agreement; and
WHEREAS, Developer has satisfied the conditions for extinguishment of the City's reversionary
rights.
NOW, THEREFORE, City does hereby release and relinquish all rights of reversion, or similar
rights, arising from or in connection with the Agreement.
Dated January, 2019.
STATE OF IOWA
) ss:
BLACK HAWK COUNTY
CITY OF WATERLOO, IOWA
By: L� 'YL irQ
Quentin Hart, Mayor
Attest:
Kelley Felchle, rj ty Clerk
This record was acknowledged before me on January , 2019, by Quentin Hart and Kelley
Felchle as Mayor and City Clerk, respectively, of the City of Waterloo, Iowa.
LeAnn M. Even
Commission Number 731693
My Commi ion Expires:
Nota Public