HomeMy WebLinkAbout2019-610-08/12/2019 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2019-610
RESOLUTION APPROVING A HOLD HARMLESS
AGREEMENT WITH OLD REPUBLIC NATIONAL TITLE
INSURANCE COMPANY, FOR PROPERTY LOCATED AT THE
SOUTHWESTERLY CORNER OF WEST 13TH STREET AND
COMMERCIAL STREET, AND AUTHORIZE THE MAYOR
AND CITY CLERK TO EXECUTE SAID DOCUMENT.
WHEREAS, the City entered into a development agreement with SFN Real Estate, LLC
to convey the properties located at the southwesterly corner of West 13th Street and Commercial
Street and legally described as:
LOT 1 AND LOT 2 IN BLOCK 58 IN ANTHONY BAKER'S ADDITION TO
THE VILLAGE OF WATERLOO IN BLACK HAWK COUNTY, IOWA (NOW
IN THE CITY OF WATERLOO, IOWA),
for the construction of two new data centers, with the potential for future expansions, and
WHEREAS, the properties are subject to a lien of judgement against the City in favor of
Daniel James Nickey and Andrew James Nickey, in the original amount of $4,902, which the
City has appealed, and
WHEREAS, the City and Old Republic National Title Insurance Company wish to enter
into this agreement to complete the proposed purchase and conveyance of the properties, and
WHEREAS, the proposed agreement would indemnify the Old Republic National Title
Insurance Company and to hold it harmless.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, that it is deemed advisable and necessary and it is so ordered on motion
by this Council that the Hold Harmless Agreement, with Old Republic National Title Insurance
Company, for property located at the southwesterly corner of West 13th Street and Commercial
Street, be hereby approved, and the Mayor and City Clerk are authorized and directed to execute
the same on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 12th day of August 2019.
Quentin Hart, Mayor
ATTEST: .
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elley Felch y
City Clerk