HomeMy WebLinkAbout3FI, LLC - Assignment of Rebates - 9.7.2021 ASSIGNMENT OF REBATES
The undersigned ("Assignor") is party to a development agreement dated April 6, 2020 (the
"Agreement") with the City of Waterloo, Iowa, to which Material Control Systems, Inc., d/b/a
Con-Trol Container Systems is also a parry, concerning the following real property(the
"Property"):
Address: 2130 Newell Street, Waterloo
Subject to the terms of the Agreement, Assignor is entitled to property tax rebates in respect of
the Property in an amount determined as set forth in the Agreement.
Assignor does hereby assign to the assignee designated below("Assignee") all of Assignor's
right, title and interest in and to any and all rebates payable in respect of the Property pursuant to
the Agreement, effective as to any rebate payable under the Agreement after the following date:
�Z- /'2-
Assignee acknowledges that no rebate is payable at any given time unless all conditions required
by the Agreement for entitlement to such rebate have been satisfied.
ASSIGNOR ASSIGNEE
4FI Waterloo, LLC 3FI,LLC
By: By:
Title: Title: 1/a- J�
Dated: �' 4 Dated: � �{
Acknowledgment of assignment:
City of Waterloo, Iowa
By: G21.14111 Hum F
Title: Mayor
ASSIGNMENT OF DEVELOPMENT GRANT
The undersigned ("Assignor") is party to a development agreement dated April 6, 2020 (the
"Agreement") with the City of Waterloo, Iowa, to which Material Control Systems, Inc., d/b/a
Con-Trol Container Systems is also a party, concerning the following real property:
Address: 2130 Newell Street Waterloo
Subject to the terms of the Agreement, Assignor is eligible to receive a second installment of a
development grant payment in the amount of$757,500.00 (the"Grant Payment"), payable as set
forth in paragraph B of Section 2.1. of the Agreement. Assignor does hereby irrevocably assign
to Assignee all of Assignor's right, title and interest in and to the Grant Payment.;
ASSIGNOR ASSIGNEE
4FI Waterloo, LLC 3FI, LLC
By: By:
Title:', Title: LA�
Dated: � Z—f Dated: ( Z-
Acknowledgment of assignment:
City of Waterloo, Iowa
By: IT
Title: Mayor