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, , This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
'3" Street`;, Waterloo, Iowa.
;Lir; , RESOLUTION NO. 2002-609
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c5 s RESOLUTION APPROVING SUBORDINATION AGREEMENT
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5 co AND CONSENT AGREEMENT WITH BLACK HAWK
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'' ECONOMIC DEVELOPMENT, INC. AND DIRECTING
C4 '% EXECUTION OF SAID AGREEMENTS BY MAYOR PRO
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r° BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
o --+ that! the Subordination Agreement and Consent Agreement dated
' October 7, 2002 , to keep the City in second lien position behind
$.lack Hawk Economic Development, Inc . and ensure mortgage will
continue as a lien on the real estate subject to the right of
reversions in conjunction with Clear Windows, LLP, MidPort
America Industrial Park project, be and the same is hereby
approved, and the Mayor Pro Tem authorized to execute the same in
behalf of the City of Waterloo, Iowa .
PASSED AND ADOPTED this 7th day of October, 2002 .
Harold Getty, M or Pro Tem
ATTEST:
Nancy Ecker City Clerk