HomeMy WebLinkAboutCedar Valley Real Estate, LLC (RECORDED) 111111111111111111111111111111111111111111111111111111111111111111111111111
Doc ID: 009701450003 Type: GEN
Recorded: 11/13/2019 at 12:02:23 PM
Fee Amt: $17.00 Page 1 of 3
Black Hawk County Iowa
SANDIE L. SMITH RECORDER
F11e2020-00008819
Preparer C��� Lia Aw
Information: Christopher S. Wendland, PO Box 596,Waterloo, Iowa 50704
Name Address (319)234-5701
City Phone
AMENDMENT TO DEVELOPMENT AGREEMENT
This Amendment to Development Agreement (the "Amendment") is entered into
as of C'tc-t-o , 2019, by and between Cedar Valley Real Estate, LLC (the
"Company") and the City of Waterloo, Iowa (the "City").
RECITALS
A. Company and City are parties to that certain Development Agreement
dated January 22, 2019 and filed February 22, 2019 as Doc. No. 2019-
12764 (the "DA"), concerning the development of land (the "Property")
described therein.
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. The last sentence of Section 2 is hereby stricken in its entirety, and the
following new sentence is substituted in its place: "Company shall commence
Improvements within nine (9) months after the date of this Agreement and shall
substantially complete the Project within twenty-four (24) months thereafter."
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.
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.
[signatures on next page]
( '7)
Page 2
CITY OF WATERLOO, IOWA CEDAR VALLEY REAL STATE, LLC
BY: ), (' ,i —T--- 1-7,/, i_.< B : A Air--� - - �
Quentin Hart, Mayor Kade Hoppenworth
iManaging Member
Attest: AJ_ 4
Kelley Fell e, Ci y Clerk
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2019-765
RESOLUTION APPROVING AN AMENDMENT TO THE
DEVELOPMENT AGREEMENT WITH CEDAR VALLEY
REAL ESTATE, LLC, OF WATERLOO, IOWA, ORIGINALLY
SIGNED ON JANUARY 22, 2019 FOR THE RENOVATION OF
300 COMMERCIAL STREET, TO CHANGE THE
COMPLETION TIMELINE TO TWENTY-FOUR(24)MONTHS,
AND AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement between Cedar Valley Real Estate, LLC, and the City of
Waterloo, Iowa, originally executed on January 22, 2019, for the renovation of 300 Commercial
Street, be amended to change the completion timeline to twenty-four (24) months, and authorize
and direct the Mayor and City Clerk to execute said document on behalf of the City of Waterloo,
Iowa.
PASSED AND ADOPTED this 7th day of October 2019.
y} t
Quentin Hart, Mayor
.n,
Liro
elley Fele'tie
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 2019-764, as passed and adopted by the
Council of the City of Waterloo, Iowa, on the 7th day of October 2019.
Witness my hand and seal of office this 7th day of October 2019.
i i
elley Felchle
City Clerk
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