HomeMy WebLinkAboutCedar Valley Restoration & Development - Addendum 12/19/2005 ADDENDUM 2.40 4?'r. .01
This addendum is signed and entered herein by both parties of the original Development
Agreement entered into on / a ' I `9 , 2005 by and between CEDAR VALLEY
RESTORATION & DEVELOPMENT, and THE CITY OF WATERLOO.
Whereas, Cedar Valley Restoration & Development is willing and able to construct the
3,000 square foot mixed-use building and three (3) multi-story housing units of
approximately 1,200 square feet each, and
Whereas, the construction of said development would have an estimated total cost of
$720,000, and
Whereas, Cedar Valley Restoration & Development would begin construction of the 15t
home within 9 months, the 2'd within 15 months, the 3`d within 21 months, and the
mixed-use building within 36 months, and
Whereas, the City of Waterloo has obtained a deed to another property within the
development block and will deed that lot to Cedar Valley Restoration & Development for
$1.00, based on the requirements of this addendum and the original development
agreement.
Now Therefore, the City of Waterloo and Cedar Valley Restoration & Development do
hereby agree that the original Development Agreement of July 18, 2005 is hereby
amended to state the new timeline and add additional land to be deeded to Cedar Valley
Restoration & Development as noted above.
This addendum shall inure to the benefit of and be binding upon the successors and
assigns of the parties.
THE CITY OF WATERLOO
By:
ATTEST: Tirf04urley, Mayor
BYC�%� o
Nancy Eck rt City Clerk
CEDAR VALLEY RESTORATION & DEVELOPMENT
By:
David Deeds