HomeMy WebLinkAboutVision Iowa Program Grant Aware Agreement - 12/5/2005 FIRST AMENDMENT TO
VISION IOWA PROGRAM
GRANT AWARD AGREEMENT
PROJECT: Cedar Valley River Renaissance
THIS FIRST AMENDMENT to the Vision Iowa Grant Award Agreement (the "First
Amendment") is made by and among the Vision Iowa Board (the "Board" or"Vision
Iowa"), the City of Waterloo, Iowa ("Waterloo"), the City of Cedar Falls, Iowa ("Cedar
Falls"), and the H. W. Grout Trust ("Grout"), with Waterloo, Cedar Falls and Grout being
referred to herein as the "Recipients."
WHEREAS, the parties entered into that certain Vision Iowa Grant Award
Agreement effective July 13, 2005; and
WHEREAS, Section 9.4 of the Vision Iowa Grant Award Agreement, dealing with
bonds and insurance, requires, in Section 9.4.1 thereof, that each Recipient shall ensure
that Builders Risk Insurance is provided, and Section 9.4.3 thereof requires each
Recipient's general contractor to obtain a performance bond for the anticipated full value
upon completion of each Recipient's Project Component; and
WHEREAS, three (3) portions of the Cedar Falls Component consist of a canoe
launch in Gateway Park to be constructed at a cost of$22,000, Island Park boat and
beach improvements to be constructed at a cost of $5,400, and Big Woods Lake
Trail/Bridge improvements to be constructed at a cost of$211,000; and
WHEREAS, all three (3) of said parts of the Cedar Falls Component will be either
constructed by city staff, rather than outside contractors, or, if constructed by or with the
assistance of outside contractors, the construction will be closely monitored by city staff;
and
WHEREAS, the cost of the three (3) above-referenced parts of the Cedar Falls
Component are minor in scope and cost, and do not involve buildings or structures
intended for occupancy; and
WHEREAS, Cedar Falls has cash reserves far in excess of the total cost of these
three (3) parts of the Cedar Falls Component; and
WHEREAS, all of the foregoing circumstances make the requirements for
Builders Risk Insurance and performance bonds impractical, expensive in relation to the
construction cost, and therefore unnecessary; and
WHEREAS, Cedar Falls proposes that Section 9.4 of the Vision Iowa Grant
Award Agreement be amended to eliminate the Builders Risk Insurance and
performance bond requirements with respect to these three (3) portions of the Cedar
Falls Component, the other parties are in agreement with Cedar Falls' proposal, and the
parties desire to reduce their agreement to writing.
NOW, THEREFORE, in consideration of the mutual promises contained herein
and intending to be legally bound, the Vision Iowa Board and the Recipients consisting
of Waterloo, Cedar Falls and Grout, agree to the following amendment to the Vision
Iowa Grant Award Agreement:
1. Amendment to Section 9.4. Section 9.4 of the Vision Iowa Grant Award
Agreement is amended by adding a new unnumbered paragraph, immediately following
Section 9.4.6, as follows:
The provisions of this Section 9.4 to the contrary notwithstanding, the
parties agree that Section 9.4.1, dealing with Builders Risk Insurance,
and Section 9.4.3, requiring general contractors to obtain a performance
bond, shall not apply to the following three (3) parts of the Cedar Falls
Component described in Section 1.5:
(a) The canoe launch in Gateway Park, to be constructed at a
cost of $22,000, on real estate legally described on Exhibit
"B," Section I-C; and
(b) Island Park boat and beach improvements to be
constructed at a cost of $5,400, on real estate legally
described on Exhibit "B," Section I-D; and
(c) The Big Woods Lake Trail/Bridge Improvements, to be
constructed at a cost of $211,000, on real estate legally
described on Exhibit"B," Section I-F.
2. Remaining Terms Ratified and Confirmed. The parties hereto agree that
all remaining terms, conditions, covenants and provisions of the Vision Iowa Grant
Award Agreement as originally approved and executed by the parties hereto, shall
remain in full force and effect, and said provisions are hereby ratified and confirmed in all
respects.
IN WITNESS WHEREOF, in consideration of the mutual covenants set forth
above and for other good and valuable consideration, the receipt, adequacy and legal
sufficiency of which are hereby acknowledged, the parties have entered into this First
Amendment to Vision Iowa Grant Award Agreement and have caused their duly-
authorized representatives to execute this First Amendment.
FOR THE V ION IOWA BOA
By � I,�- �b C�
YAn rew Anderson, Chairman Date
FOR THE CITY OF WATERLOO (RECIPIENT):
By— v
Timothy J.
rl Mayor Date
Attes . a• 5 -0 5
Nancy 'cke ity Clerk Date
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FOR THEA CITY OF CEDAR FALLS (RECIPIENT):
r .
By
J n T. Crews, Mayor Date
Attest: - A , Elsie_ I I l S U S
Gary L. Hess6, City Clerk Date
FOR THE H��GROUT TRUST (RECIPIENT):
ZEdward . Gallagher, Jr., Trustee Date
1 „
Attes . ,fl. �OG6
Roger lesen, Tr ee Date
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