HomeMy WebLinkAbout3 Stooges LLC-3/21/2016Prepared by Christopher S. Wendland, P.O. Box 596, Waterloo IA 50704. Phone (319) 234-5701
AMENDMENT TO DEVELOPMENT AGREEMENT and
AMENDMENT TO MINIMUM ASSESSMENT AGREEMENT
This Amendment to Development Agreement and Amendment to Minimum Assessment
Agreement (the "Amendment") is entered into as of KCkYT-" 21 , 2016 by and between
the City of Waterloo, Iowa ("City") and 3 Stooges LLC ("Company").
RECITALS
A. Company and City are parties to that certain Development Agreement dated June
1, 2015 (the "DA"), concerning the development of land (the "Property") described
on Exhibit "A" to the DA. Company and City are also parties to that certain
Minimum Assessment Agreement (the "MAA") pertaining to the Property, dated as
of the same date. The DA and MAA have been filed in the land records of Black
Hawk County, Iowa, as Doc. No. 2015-21361.
B. The parties desire to amend the DA and MAA on the terms set forth herein to
extend the time for Company to complete the Project.
NOW, THEREFORE, in consideration of the premises and of other consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereby agree to amend the
Agreement as follows:
1. Section 3 of the DA and Section 1 of the MAA are each amended to strike
"December 31, 2015" therefrom and to substitute "December 31, 2016" in place thereof.
Section 3 of the MAA is also amended to strike "December 31, 2035" and "January 1, 2036"
therefrom and to substitute "December 31, 2036" and "January 1, 2037" in place thereof,
respectively.
2. Except as amended herein, the DA and the MAA shall continue unmodified in full
force and effect. This Amendment is binding on the parties and the respective successors,
assigns, transferees and legal representatives of each. This Amendment may be executed in
counterparts, each of which shall be deemed an original and all of which, when taken together,
shall constitute a single instrument.
IN WITNESS WHEREOF, the parties have executed this Amendment to Development
Agreement and Amendment to Minimum Assessment Agreement by their duly authorized
representatives as of the date first set forth above.
3 STOOGES LLC
By:
AnthonyFischels
Managing Member
STATE OF IOWA )
) ss.
BLACK HAWK COUNTY )
CITY OF WATERLOO, IOWA
By:
Quentin Hart, Mayor
By:aL�
Suzy Sc res, City Clerk
This record was acknowledged before me on 100V✓ ,h 7 2016 by Anthony
Fischels as Managing Member of 3 Stooges LLC.
MELISSA YOUNGBW
sY COMMISSION NO. 747753
MY CO MI5 ION
STATE OF IOWA )
) ss.
BLACK HAWK COUNTY )
This record was acknowledged before me on N a z 24 , 2016 by Quentin Hart
and Suzy Schares, as Mayor and City Clerk, respectively, of the City of Waterloo, Iowa.
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'• COMMISSIONN0.78R7 Notary Public ��
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