HomeMy WebLinkAboutCentral Property Holdings, LLC - Amendment No. 6 - 1.10.2022Preparer
Information-. Christopher S. Wendland, PO Box 596, Waterloo, Iowa 59704 (319) 234.5701
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SPACE ABOVE THIS LINE
FOR RECORDER
AMENDMENT NO. 6 TO DEVELOPMENT AGREEMENT
and MINIMUM ASSESSMENT AGREEMENT
This Amendment No. 6 to Development Agreement and Minimum Assessment
Agreement (the "Amendment") is entered into as of January 10, 2022 , by and
between Central Property Holdings, LLC (the "Company") and the City of Waterloo,
Iowa (the "City").
RECITALS
A. Company and City are parties to that certain Development Agreement
dated August 7, 2017, as later amended (collectively, the "DA"),
concerning the development of land (the "Property") described on Exhibit
"A" to the DA. The DA has been filed in the land records of Black Hawk
County, Iowa, as Doc. No. 2018-7765, Doc. No. 2019-2747, Doc. No.
2019-13537, Doc. No. 2019-13538, Doc. No. 2021-12976 and Doc. 2022-
13516. In connection with the DA, the parties also executed a certain
Minimum Assessment Agreement dated August 7, 2017 (the "MAA").
B. The parties desire to amend the DA to modify the terms thereof as set
forth in this Amendment.
NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
the parties agree as follows:
1. Sections 4 and 6 of the DA and Section 1 of the MAA are amended to
strike "$2,500,000.00" therefrom and to substitute 14,000,000.00" in its place.
2. Except as modified herein, the DA and MAA shall continue unmodified in
full force and effect. Terms in this Amendment that are capitalized but not defined will
have the same meanings herein that are ascribed to them in the DA or MAA, as
applicable. The DA, the MAA and this Amendment shall inure to the benefit of and be
binding upon the parties and their respective successors and assigns.
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IN WITNESS WHEREOF, the parties have executed this Amendment No. 6 to
Development Agreement and Amendment to Minimum Assessment Agreement by their
duly authorized representatives as of the date first set forth above.
CITY OF WATERLOO, IOWA CENTRAL PROPERTY HOLDINGS,
LLC
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By: By:
Quentin Hart, Mayor Rodney A. Anderson
Managing Member
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Attest:
Kelley Felchle, City Clerk