HomeMy WebLinkAboutCentral Property Holdings, LLC-Amndmt No. #3 (RECORDEDPreparer
Information: Christopher S. Wendland, PO Box 596, Waterloo, Iowa 50704 (319) 234.5701
D I111111111111111111111111 1 DIIIIID1111111111111111111111!
Type:
Recorded: 03/12/2019 at 09:17:17 AM
Fee Amt: $22.00 Pape 1 of 4
Black Hawk County Iowa
SANDIE L. SMITH RECORDER
File2019-00013533
Name Address City
Phone
SPACE ABOVE THIS LINE
FOR RECORDER
AMENDMENT NO. 3 TO DEVELOPMENT AGREEMENT
This Amendment No. 3 to Development Agreement (the "Amendment") is
entered into as of ON , 2018, by and between Central Property
Holdings, LLC (the "Company") and the City of Waterloo, Iowa (the "City").
RECITALS
A. Company and City are parties to that certain Development Agreement
dated August 7, 2017, as later amended on February 19, 2018 and
September 24, 2018 (collectively, the "DA"), concerning the development
of land (the "Property") described on Exhibit "A" to the DA. The DA has
been filed in the land records of Black Hawk County, Iowa, as Doc. No.
2018-7765 and as Doc. No. 2019-2747.
B. The parties desire to amend the DA to modify the terms thereof as set
forth in this Amendment.
NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
the parties agree as follows:
1. Daniel E. Levi is hereby released from the personal guaranty that he
executed as part of the DA. Rodney A. Anderson shall remain obligated as personal
guarantor.
2. Except as modified herein, the DA 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 DA. The DA and this
Amendment shall inure to the benefit of and be binding upon the parties and their
respective successors and assigns.
ti
Page 2
IN WITNESS WHEREOF, the parties have executed this Amendment No. 3 to
Development Agreement by their duly authorized representatives as of the date first set
forth above.
CITY OF WATERLOO, IOWA
By: (Lyt,lifct..LSr`-
Quentin Hart, Mayor
Attest:
e ey Felchl
Ci y Clerk
CENTRAL PROPERTY HOLDINGS,
LLC
By:
Rodney . And son
Managing Member
EXHIBIT "A'
Legal Description of Property
Lots 2 and 3 of Waterloo RX First and Franklin Subdivision;
And also, Lots 17 and 18 of Block 64 of Cooley Addition;
And also, that part of the 20 foot alley as platted in Block 64 of Cooley Addition lying
Southeasterly of a Southwesterly extension of the Northwesterly line of Lot 17 of Block
64 of Cooley Addition and lying Northwesterly of a Southwesterly extension of the
Southeasterly line of Lot 18 of Block 64 of Cooley Addition, all in the City of Waterloo,
Black Hawk County, Iowa.
Prepared by LeArm M. Even, Deputy Clerk City of Waterloo, 715 Mulberry Street, Waterloo, IA
50703, (319) 291-4323.
RESOLUTION NO. 2018-826
RESOLUTION APPROVING AMENDMENT NO. 3 TO THE
DEVELOPMENT AGREEMENT BETWEEN CENTRAL
PROPERTY HOLDINGS, LLC, TO REFLECT UPDATED
OWNERSHIP IN THE PROJECT, AND AUTHORIZE THE
MAYOR AND CITY CLERK TO EXECUTE SAID
DOCUMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that an Amendment to the original Development Agreement dated August 17, 2017, between
Central Property Holdings, LLC and the City of Waterloo, Iowa, regarding the development of
land, is hereby amended to reflect updated ownership, and the Mayor and City Clerk are
authorized and directed to execute said documents on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 5th day of November 2018.
AT ESI:
Kelley Fele
City Clerk
Quentin Hart, Mayor
CERTIFICATE
I, Kelley Felchle, City Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution No. 2018-826 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 5th day of November 2018.
Witness my hand and seal of office this 5th day of November 2018.
Kel ey Felchle
City Clerk