HomeMy WebLinkAboutGrady Farms Dairy, Inc of Waterloo, IA-2/15/2016AMENDMENT TO ACQUISITION CONTRACT
This Amendment to Acquisition Contract (the "Amendment") is entered into as of
, 2016 by and between Grady Farms Dairy, Inc. ("Seller") and the
City of Waterloo, Iowa ("Buyer").
RECITALS
A. Seller and Buyer are parties to a certain Acquisition Contract dated
September 6, 2011 (the "Contract"), providing for Buyer's purchase of the
real property interests described therein from Seller, and for payment of
other compensation to Seller as set forth therein, in connection with the
Shaulis Road Extension/Ansborough Avenue Improvement project (the
"Project").
B. Since completion of the Project, Seller has had problems with water
drainage on his land, and Buyer agrees to compensate Seller for the cost of the
remedy as set forth in this Amendment.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
the parties agree as follows:
1. The Contract is hereby amended to add a new paragraph 3A as follows:
3A. Buyer agrees to reimburse Seller in the amount of $21,217.54 as the
entire cost and expense of tiling and related work to facilitate proper
drainage of Seller's property following completion of Project
improvements. The parties agree that said payment shall, when
delivered, constitute full satisfaction, discharge and acquittance of any
and all responsibility the Buyer may have to Seller arising from or in any
way relating to the Project or the effects thereof, and Seller hereby
waives arid releases any and all claims against Buyer for further
damages or compensation arising out of or in any way relating to the
Project.
2. Except as modified herein, the Contract 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 Contract, The Contract 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
Acquisition Contract by their duly authorized representatives as of the date first set forth
above.
CITY OF WATERLOO, IOWA GRADY DAIRY FARMS,
INC.
By:
Quentin Hart, Mayor
7
Attest: a LACe�
Suzy chares, City Clerk
%.
J es Grady, President
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