HomeMy WebLinkAboutNet Worth Investments, LLC - Amendment to Dev Agmnt - 6.6.2022Y
Doc ID: 011802140001 Type G N
III
Recorded: 07/28/2022 at 02:25:19
Fee Amt: $7.00 Page 1 of 1
Black Hawk County Iowa
SANDIE L. SMITH RECORDER
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1111 1111111 1111
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Fi1e2023-00001606
Prepared by Christopher S. Wendland, P.O. Box 596, Waterloo, IA 50703. 319-234-5701
AMENDMENT TO DEVELOPMENT AGREEMENT
Thtl Amend►rnt to Development Agreement (the "Amendment") is entered into
as of rJ44 J , 2022 by and between Net Worth Investments, LLC (the
"Company") ind the City of Waterloo, Iowa (the "City").
RECITALS
A. Company and City are parties to that certain Development Agreement
dated April 27, 2020 and recorded July 31, 2020 as Doc. No. 2021-2427
(the "DA") concerning the development of property as described in the
Agreement.
B. The parties desire to amend the DA to modify the terms as set forth in this
Amendment.
NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
the parties agree as follows:
1. Section 4.B of the DA is hereby modified to provide that the remaining
$28,000.00 that is payable under the DA after the date of this Amendment shall be paid
within thirty (30) days after approval of this Amendment by the Waterloo City Council.
Company hereby acknowledges that it has, prior hereto, receive all sums payable by
City under the DA, and that upon receipt from City of the remaining $28,000.00, all
payment obligations of City under the DA shall have been satisfied in full.
2. Except as modified herein, the DA shall continue unmodified in full force
and effect. Terms in this Amendment that are capitalized but not defined herein will
have the same meanings herein that are ascribed to them in the DA. The DA and this
Amendment shall inure to the benefit of and be binding upon the parties and their
respective successors and assigns.
IN WITNESS WHEREOF, the parties have executed this Amendment to
Development Agreement by their duly authorized representatives as of the date first set
forth above.
CITY OF WATERLOO, IOWA NET WORTH INVESTMENTS, LLC
By:
Quentin Hart, Mayor
Attest:
Kelley Fei4hle, City Clerk
(�)
By:
ndrea McGeough
Managing Member
Prepared by Christopher S. Wendland, P.O. Box 596, Waterloo, IA 50703. 319-234-5701
AMENDMENT TO DEVELOPMENT AGREEMENT
T 4 Amen nt to Development Agreement (the "Amendment") is entered into
as of l -' , 2022 by and between Net Worth Investments, LLC (the
"Company") nd the City of Waterloo, Iowa (the "City").
RECITALS
A. Company and City are parties to that certain Development Agreement
dated April 27, 2020 and recorded July 31, 2020 as Doc. No. 2021-2427
(the "DA") concerning the development of property as described in the
Agreement.
B. The parties desire to amend the DA to modify the terms as set forth in this
Amendment.
NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
the parties agree as follows:
1. Section 4.6 of the DA is hereby modified to provide that the remaining
$28,000.00 that is payable under the DA after the date of this Amendment shall be paid
within thirty (30) days after approval of this Amendment by the Waterloo City Council.
Company hereby acknowledges that it has, prior hereto, receive all sums payable by
City under the DA, and that upon receipt from City of the remaining $28,000.00, all
payment obligations of City under the DA shall have been satisfied in full.
2. Except as modified herein, the DA shall continue unmodified in full force
and effect. Terms in this Amendment that are capitalized but not defined herein will
have the same meanings herein that are ascribed to them in the DA. The DA and this
Amendment shall inure to the benefit of and be binding upon the parties and their
respective successors and assigns.
IN WITNESS WHEREOF, the parties have executed this Amendment to
Development Agreement by their duly authorized representatives as of the date first set
forth above.
CITY OF WATERLOO, IOWA NET WORTH INVESTMENTS, LLC
By:
Quentin Hart, Mayor
vtat.-con lxLkno , b��/zuLZ
By:
Attest:
Kelley F hle City Clerk
ndrea McGeough
Managing Member