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HomeMy WebLinkAboutBlack Hawk Contracting & Dev Co -Amend Dev Agmntz(RECORDED) 1111EMIIMEININNIMIMMIN iiii Doc ID: 009586900005 Type: GEN Recorded: 07/03/2019 at 01:51:54 PM Fee Amt: $27.00 Page 1 of 5 Black Hawk County Iowa SANDIE L. SMITH RECORDER Fi1e2020-00000277 Preparer Information' Christopher S.Wendland, PO Box 596,Waterloo, Iowa 50704 (319)234.5701 Name Address City Phone AMENDMENT TO DEVELOPMENT AGREEMENT This Amendment to Development Agreement (the "Amendment") is entered into as of Voosaati,, , 2019 by and among Black Hawk Contracting & Development Co. ("Company ') and the City of Waterloo, Iowa (the "City"). John R. Rooff III ("Rooff') executes this Amendment individually for the purpose stated in Section 2 hereof. RECITALS A. Company and City are parties to a certain Development Agreement dated April 8, 2013 and filed April 12, 2013 as Doc. No. 2013-21205 (the "Agreement"), providing for Company's development of certain property as described therein. B. The parties desire to amend the Agreement on the terms set forth herein. AGREEMENT NOW, THEREFORE, in consideration of the mutual covenants set forth herein, the parties agree as follows: 1. The Agreement is amended to provide a new schedule for construction and completion of the improvements described therein, as follows: Company shall complete construction of three (3) homes and related improvements no later than December 31, 2022 and shall complete construction of two (2) homes and related improvements no later than December 31, 2023. The parties acknowledge that Company completed construction of one (1) home before the date of this Amendment. 2. The Agreement included a personal guaranty that Rooff failed to execute. Rooff agrees that his execution of this Amendment shall have the same legal effect as if he had signed the personal guaranty included in the Agreement and that he shall be bound thereby to the same extent as if he had originally signed it. 3. A new Section is added to the Agreement, as follows: Development Grant. Upon completion of each new home and all related Housing Improvements, as evidenced by issuance of a certificate of occupancy, City will make to the developer party a one-time grant of $5,000.00 for each completed home, in accordance with City policy." 4. Except as modified herein, the Agreement 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 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. CITY OF WATERLOO, IOWA BLACK HAWK CONTRACTING & DEVELOPM -NT CO. By: B : APA /i ' rAWP Quentin Hart, Mayor John '. Rooff, III, P, r: - -" A../1/Attest: , Kelley F: 1 hle, City Clerk G(_- f�� '%'' Joh, R. Rooff, III, persy':1�'. 2 Preparer Information: Christopher S.Wendland, PO Box 596,Waterloo, Iowa 50704 (319)234.5701 Name Address City Phone AMENDMENT TO DEVELOPMENT AGREEMENT This Amendment to Development Agreement (the "Amendment") is entered into as of ebg,,,tt,,, , 2019 by and among Black Hawk Contracting & Development Co. ("Company ) and the City of Waterloo, Iowa (the "City"). John R. Rooff III ("Rooff") executes this Amendment individually for the purpose stated in Section 2 hereof. RECITALS A. Company and City are parties to a certain Development Agreement dated April 8, 2013 and filed April 12, 2013 as Doc. No. 2013-21205 (the "Agreement"), providing for Company's development of certain property as described therein. B. The parties desire to amend the Agreement on the terms set forth herein. AGREEMENT NOW, THEREFORE, in consideration of the mutual covenants set forth herein, the parties agree as follows: 1. The Agreement is amended to provide a new schedule for construction and completion of the improvements described therein, as follows: Company shall complete construction of three (3) homes and related improvements no later than December 31, 2022 and shall complete construction of two (2) homes and related improvements no later than December 31, 2023. The parties acknowledge that Company completed construction of one (1) home before the date of this Amendment. 2. The Agreement included a personal guaranty that Rooff failed to execute. Rooff agrees that his execution of this Amendment shall have the same legal effect as if he had signed the personal guaranty included in the Agreement and that he shall be bound thereby to the same extent as if he had originally signed it. 3. A new Section is added to the Agreement, as follows: Development Grant. Upon completion of each new home and all related Housing Improvements, as evidenced by issuance of a certificate of occupancy, City will make to the developer party a one-time grant of$5,000.00 for each completed home, in accordance with City policy." 4. Except as modified herein, the Agreement 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 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. CITY OF WATERLOO, IOWA BLACK HAWK CONTRACTING & DEVELOPMENT CO. By LP 415C14t // L By. 44% / �,,. � l Quentin Hart, Mayor John '. Rooff, III, Pre.. — Attest: 1/2! jL` -/,11111", /, elley Felc e, City Clerk - . ft John -. Rooff, III, persj 1 2 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323. RESOLUTION NO. 2019-71 RESOLUTION APPROVING AN AMENDMENT TO A DEVELOPMENT AGREEMENT WITH BLACK HAWK CONTRACTING & DEVELOPMENT, CHANGING THE TIMELINE AND ADDING THE 657A INFILL POLICY INCENTIVE ON PROPERTY LOCATED WITHIN HILLSIDE ADDITION, 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 Development Agreement dated April 8, 2013, between Black Hawk Contracting & Development Co. and the City of Waterloo, Iowa, changing the project construction timeline and adding the 657A infill policy incentive, on property located within the Hillside Addition, is hereby approved, and the Mayor and City Clerk are authorized and directed to execute said document on behalf of the City of Waterloo, Iowa. PASSED AND ADOPTED this 4th day of February 2019. ( S1AASC-1 Quentin Hart, Mayor ri • ' AI EST., ell'Felchle City Clerk 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 2019-71, as passed and adopted by the Council of the City of Waterloo, Iowa, on the 4th day of February 2019. Witness my hand and seal of office this 4th day of February 2019. SEAL" ' elle Felchle ' City Clerk