HomeMy WebLinkAbout2009-586-06/22/2009 (RECORDED) 11 11 1E11111 l 1111 1111111111111)lIIIII IIII11 III 1 III
Doc ID: 003899690001 Type: GEN
Kind: RESOLUTION
Recorded: 09/09/2009 at 04:02:14 PM
Fee Amt: $9.00 Pape 1 of 1
Instr# 200900007524
Black Hawk County Iowa
JUDITH A MCCARTHY RECORDER
Book 1080 Pape 79798 - 79798
Fi1e2010-00005192
This Resolution prepared by N ncy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2009-586
RESOLUTION APPROVING AMENDMENT TO DEVELOPMENT
AGREEMENT WITH SADLER POWER TRAIN, INC. AND
DIRECTING EXECUTION OF SAID AMENDMENT BY
MAYOR.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the amendment to the Development Agreement dated June 22 ,
2009, to allow Sadler Power Vain, Inc . seven years to complete a
6 , 100 square ' foot expansion, and two years to complete
improvements to the south wall with a wall similar to the other
two walls on the north and east on property generally located at
3289 Airport Boulevard, by and between Sadler Power Train, Inc .
and the City of Waterloo, Iowa, be and the same is hereby
approved, and the Mayor and gity Clerk authorized to execute the
same in behalf', of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 2nd day of June, 2009 .
if
Tim Hurley, Mayo ,
ATTEST:
L.� . I r
Nancy Ecke ►; , CMC
City Clerk i
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11111 III III II 1111 ll I I IIIII IIII III 11111111E111 1 ill
Doc ID: 003899700001 Type: GEN
Kind: AMENDMENT
Recorded: 09/09/2009 at 04:02:55 PM
Fee Amt: $9.00 Page 1 of 1
Instr# 200900007525
Black Hawk County Iowa
JUDITH A MCCARTHY RECORDER
Book 1080 Page 79799 - 79799
F11e2010-00005193
Prepared by Chris Wendland, Clark, Butler, Walsh&Hamann, PO Box 596, Waterloo, IA, 50704, (319) 234-5701.
AMENDMENT
This addendum is signed and entere herein by an acquiring party and by the
City of Waterloo of the original Devel pment Agreement entered into on the 19th
day of October 1998 by and between CLEAR WINDOWS LLP and THE CITY
OF WATERLOO.
Whereas, Sadler Brothers Ltd, is acq iring 3289 Airport Boulevard, located on a
portion of Lot No. 2 (Two) as describ d in Exhibit "B" located in the MidPort
America Park Plat No. 1, and
Whereas, the aforementioned Development Agreement was later amended in
2000, to state that a 9,800 sq. ft. building would be built with a 6,100 sq. ft.
minimum building expansion within fie (5) years, and
Whereas, the expansion did not occur, and the west and south walls were never
replaced, as also stated, with a wall similar in design to the north and east walls.
Now Therefore, the City of Waterloo and Sadler Brothers Ltd do hereby agree to
the following:
1. That Sadler Brothers Ltd shall have 7 years to complete the expansion as
previously agreed to as a part of the Development Agreement. Any
reversion !requirements for land or payment of $20,000 are duly changed
to reflect that 7-year period from the date of approval of this document.
2. That Sadler Brothers Ltd shall have 2 years to complete the improvements
to the south wall with a wall similar to the other two walls to the north and
east to meet the regulations of the MidPort America Industrial Park
Declaration (no more than 30% metal on wall side) and as previously
approved by the MidPort Architectural Review Committee. The west wall
would remain for the expansion to occur as stated in Number 1 above.
This addendum shall inure to the benefit of and be binding upon the successors
and assigns of the parties.
THE CITY OF WATERLOO
By: /��.--yittit„
Tim Her ley, Mayor
ATTEST:
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Nancy E :-rt, City Clerk
S R BROTH A S LTD
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