HomeMy WebLinkAboutNorth Crossing, LLC - Amendment to Master Dev Agmnt - 7.20.2020Prepared by Christopher S. Wendland, P.O. Box 596, Waterloo, IA 50703. 319-234-5701
AMENDMENT TO MASTER DEVELOPMENT AGREEMENT
This Amendment to Master Development Agreement (the "Amendment") is entered into
as of July 20 , 2020, by and between the City of Waterloo, Iowa ("City") and North
Crossing, LLC ("Company").
RECITALS
A. Company and City are parties to that certain Master Development Agreement
dated January 25, 2016 (the "Agreement") concerning the development of property
as described in the Agreement. The Agreement was filed in the records of the
Black Hawk County Recorder on March 15, 2016 as Doc. No. 2016-15582 and
subsequently amended by amendment filed December 12, 2016 as Doc. No. 2017-
10850.
B. The parties desire to amend the Agreement on the terms set forth herein.
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. The "Project 5 deadline" set forth in Section 5 of the amended Agreement is
hereby amended to read "Complete by 12/31/2020."
2. Except as modified herein, the Agreement shall continue unmodified in full force
and effect, as previously amended. Capitalized terms used herein that are not defined in this
Amendment shall have the meaning attributed to them in the Agreement. The Agreement 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 Master
Development Agreement by their duly authorized representatives as of the date first set forth
above.
NORT
By:
Be jamin •h, Manager
2
CITY OF WATERLOO, IOWA
By: QmenMin H- .art
Quentin Hart, Mayor
Attest: Ke//e
Kelley Felchle, City Clerk