HomeMy WebLinkAboutAnderson and Anderson Farms - Amended Lease Agreement - 2/1/2021 AMENDMENT TO LEASE AGREEMENT
FOR CITY-OWNED PROPERTY
This Amendment(the"Amendment") is entered into as of ��6CIAAru, , 2021 by
and between the City of Waterloo, Iowa("City") and Anderson and Anderson ms, a general
partnership ("Lessee").
WHEREAS, City and Lessee are parties to that certain Lease Agreement for City-Owned
Property dated December 17, 2018 (the"Lease")concerning real property described therein,
consisting of approximately 36.1 tillable acres of tax parcels 8913-12-301-009 and 8913-12-326-
003; and
WHEREAS,the parties desire to amend the Lease on the terms set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants and promises contained
herein, and for other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged,the parties agree as follows:
1. The Lease is amended to remove from the definition of"Property"the area
identified as tax parcel 8913-12-301-009, legally described as follows (the "Excluded Property"):
UNPLATTED WATERLOO EAST NW SW SEC 12 T 89 R 13 EXC N 291.05 FT AND EXC PARCEL"D"OF
PLAT OF SURVEY DOC#2003-05489 BEING THAT PART OF SW 1/4 SEC 12 T 89 R 13 DESC AS N 260 FT
OF E 680 FT OF THAT PART OF SAID 1/4 LYING S OF RALSTON RD AS ESTABLISHED AND ACQUIRED
BY CITY OF WATERLOO IN 470 DEEDS 475 AND LYING W OF W LINE OF E FOURTH STREET AND ALSO
SW SW IN SAID SEC EXC E 33 FT&EXC THAT PART THEREOF DESC AS COM AT SE COR SW SW TH N
33 FT TO NLY LINE E DONALD ST TH W 478.61 FT TH N 50.01 FT TO POB TH W 160 FT TH N 150 FT THE
160 FT TH S 150 FT TO POB&EXC PAR E IN DOC 2003-33301 AND PAR F IN DOC 2004-22550 ALSO EXC
NORTH CROSSING ADDITION ALSO EXC LOGAN PLAZA 1 ST ADDITION LOTS 2 AND 3 ALSO EXC RD
ALSO EXC TH AT PART OF A PCL OF LAND IN SW SW SEC 12 T 89 R 13 DESC AS COM AT NE COR OF
SW SW TH S 777.33 FT TH N 89 DEG 55 MIN 10 SEC W 33.01 FT TO POB TH N 89 DEG 55 MIN 10 SEC W
383.16 FT TH N 170.77 FT TH S 89 DEG 55 MIN 02 SEC E 382.15 FT TH S 170.77 FT TO POB.
The Lease will continue in effect as to the reminder of the Property,which consists of
11.5 acres, more or less.
2. Paragraph 2 is hereby amended to state that the Lease shall terminate on
December 31, 2021. Lessee hereby waives any right to receive notice of termination pursuant to
Iowa Code Chapter 562 with respect to the Excluded Property and agrees that the Lease shall
terminate December 31, 2020 as to the Excluded Property.
3. The parties agree that Lessee has previously invested approximately$1,041.00 in
crop input costs in the Excluded Property. Due to this Amendment, Lessee will not realize the
benefit of the investment. The parties agree that Lessee's rent payable for the 2021 crop year is
the substantial equivalent of the compensation that City would owe to Lessee for its unrealized
investment, and therefore each party shall be and hereby is, without the exchange any further
payment from one to the other, fully compensated for what is owed to it by the other party in
connection with this Amendment and the 2021 crop year under the Lease.
4. Except to the extent amended by this instrument, the Lease shall continue
unmodified in full force and effect. The Lease and this Amendment are binding upon and shall
inure to the benefit of the parties and their respective successors and assigns.
IN WITNESS WHEREOF,the parties have executed this Amendment to Lease
Agreement for City-Owned Property by their duly authorized representatives as of the date first
set forth above.
CITY OF WATERLOO,IOWA ANDERSON AND ANDERSON FARMS
By: �� By: _
Quentin Hart, Mayor Bryce. . E de " General Partner
Attest:
*A"JJ,
elley Felchle,Uty
Clerk
[acknowledgments on next page]
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STATE OF IOWA )
) ss.
BLACK HAWK COUNTY )
On 3 , 2021, before me, the undersigned, a Notary Public in and for
the State of Iowa, person fly appeared Quentin Hart and Kelley Felchle,to me personally known,
and who, being by me duly sworn, did say that they are the Mayor and City Clerk,respectively, of
the City of Waterloo, Iowa; that the seal affixed to the foregoing instrument is the corporate seal
of the corporation, and that the instrument was signed and sealed on behalf of the corporation by
authority of its City Council as contained in the Resolution ado ted by the City Council, under
Council Action No. of the City Council on I ,2021,and
that Quentin Hart and Kelley Felchle acknowledged the execution of the strument to be their
voluntary act and deed and the voluntary act and deed of the corporation,by it voluntarily executed.
2S9
Notary PubliL-1195
STATE OF IOWA )
) ss.
BLACK HAWK COUNTY )
Acknowledged before me on 'J roca-ry IL,, 2021 by Bryce J. Anderson as General
Partner of Anderson and Anderson Farms, a general partnership.
'=Q'"Ls TRACIA S ROSS
F
COMMISSION NO.811963
* * MY COMMISSION EXPIRES
Notary Public
3
B,t,rr'�r T
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