HomeMy WebLinkAboutDebra Kay Hodges Harmon - Amendment to Development Agreement - 8.1.2022(RECORDED) liii 11 liii II
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Doc ID:
011837630003 Type: GEN
Recorded: 09/22/2022 at 03:41:08 PM
Fee Amt: $17.00 Page 1 of 3
Black Hawk County Iowa
SANDIE L. SMITH RECORDER
File2023_00005045
.4 C\ a lik011) .
Prepared by Christopher S.Wendland, P.O. Box 596,Waterloo, IA 50703. 319-234-5701
AMENDMENT TO DEVELOPMENT AGREEMENT
This Amendment to Development Agreement (the "Amendment") is entered into as of
.P-u `,c}-- I , 2022 by and between Debra Kay Hodges Harmon (the "Developer") and the
City afi'Waterloo, Iowa (the "City").
RECITALS
A. Developer and City are parties to that certain Development Agreement dated as
of December 7, 2020 (the "DA") concerning the rehabilitation of property at 1644
Logan Avenue, as further described in the Agreement.
B. The parties desire to modify the DA as set forth in this Amendment.
NOW, THEREFORE, in consideration of the mutual covenants set forth herein, the
parties agree as follows:
1. Section 3 of the DA is stricken therefrom in its entirety, and a new Section 3 is
substituted in its place, as follows:
3. Timeliness of Construction; Possibility of Reverter. The parties
agree that Developer's commitment to cause the Project to be undertaken and to
rehabilitate the Property in a timely manner constitutes a material inducement for
the City to extend the development incentives provided for in this Agreement,
including but not limited to its commitment to convey the Property to Developer,
and that without said commitment City would not have done so. Subject to
Unavoidable Delays (defined below), Developer must obtain a building permit
and begin construction of the Improvements no later than October 1, 2022 (the
"Project Start Date"), and Substantially Complete rehabilitation no later than July
1, 2023 (the "Project Completion Date"). For purposes of this Agreement,
"Substantially Completed" means the date on which the rehabilitation
(1-1)
Page 2
Improvements have been completed to the extent necessary for the City to issue
a certificate of occupancy relating thereto.
If Developer has not begun Improvements before the Project Start Date,
City may terminate this Agreement as set forth in Section 13, title to the Property
shall revert to City, and City shall have no further obligation hereunder. If
rehabilitation has not begun by the Project Start Date but the commencement of
the Project is still imminent, the City Council may, but shall not be required to,
grant an extension of the Project Completion Date. If rehabilitation work has
commenced within the required period or any extended period and is stopped
and/or delayed as a result of an act of God, war, civil disturbance, court order,
labor dispute, fire, or other cause beyond the reasonable control of Developer
(each of the foregoing is an "Unavoidable Delay"), then time lost as a result of
Unavoidable Delays shall be added to extend the Project Completion Date by a
number of days equal to the number of days lost as a result of Unavoidable
Delays. If the Improvements are not completed by the Project Completion Date
or any allowed period of extension, City may terminate this Agreement as set
forth in Section 13, title to the Property shall revert to City, and City shall have no
further obligation hereunder.
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 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 heirs, personal
representatives, 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
By: /62)1V- '/e t'L Atire)'k-
Quentin M. Hart, Mayor Debra Kay Hodges Ha on
Attest: l
Kelley Fe hle, City Clerk
STATE OF IOWA )
ss.
COUNTY OF BLACK HAWK
Page 3
,i%f.,
On this _day of Art-VAA,kgt— , 2022, before me, a Notary Public in and
for the State of Iowa, personally appeard Quentin M. Hart and Kelley Felchle, to me personally
known, who being duly sworn, did say that they are the Mayor and City Clerk, respectively, of
the City of Waterloo, Iowa, a municipal corporation, created and existing under the laws of the
State of Iowa, and that the seal affixed to the foregoing instrument is the seal of said municipal
corporation, and that said instrument was signed and sealed on behalf of said municipal
corporation by authority and resolution of its City Council, and said Mayor and City Clerk
acknowledged said instrument to be the free act and deed of said municipal corporation by it
and by them voluntarily executed.
n�Q�e^ .yy11yr1�ep-.��V Nota Publi
O'pt,1l it NANCY f YIGB J
_ , ;g * COMMISSION NO.788229
« My M`, SSI' EXPRES
,aw' ---
1
STATE OF IOWA )
) ss.
COUNTY OF BLACK HAWK )
4
Subscribed and sworn to before me on 1q , 2022 by Debra Kay
Hodges Harmon.
L
Qlel q -)34,41--Le,
Notary Pu lic
, -
, , 3 -i-2
Prepared by Christopher S. Wendland P.O. Box 596, Waterloo, IA 50703. 319-234-5701
AMENDMENT TO DEVELOPMENT AGREEMENT
This Amendment to Development Agreement (the "Amendment") is entered into as of
4l l ° N Si— 1 , 2022 by and between Debra Kay Hodges Harmon (the "Developer") and the
City dfWaterloo, Iowa (the "City").
RECITALS
A. Developer and City are parties to that certain Development Agreement dated as
of December 7, 2020 (the "DA") concerning the rehabilitation of property at 1644
Logan Avenue, as further described in the Agreement.
B. The parties desire to modify the DA as set forth in this Amendment.
NOW, THEREFORE, in consideration of the mutual covenants set forth herein, the
parties agree as follows:
1. Section 3 of the DA is stricken therefrom in its entirety, and a new Section 3 is
substituted in its place, as follows:
3. Timeliness of Construction; Possibility of Reverter. The parties
agree that Developer's commitment to cause the Project to be undertaken and to
rehabilitate the Property in a timely manner constitutes a material inducement for
the City to extend the development incentives provided for in this Agreement,
including but not limited to its commitment to convey the Property to Developer,
and that without said commitment City would not have done so. Subject to
Unavoidable Delays (defined below), Developer must obtain a building permit
and begin construction of the Improvements no later than October 1, 2022 (the
"Project Start Date"), and Substantially Complete rehabilitation no later than July
1, 2023 (the "Project Completion Date"). For purposes of this Agreement,
"Substantially Completed" means the date on which the rehabilitation
Page 2
Improvements have been completed to the extent necessary for the City to issue
a certificate of occupancy relating thereto.
If Developer has not begun Improvements before the Project Start Date,
City may terminate this Agreement as set forth in Section 13, title to the Property
shall revert to City, and City shall have no further obligation hereunder. If
rehabilitation has not begun by the Project Start Date but the commencement of
the Project is still imminent, the City Council may, but shall not be required to,
grant an extension of the Project Completion Date. If rehabilitation work has
commenced within the required period or any extended period and is stopped
and/or delayed as a result of an act of God, war, civil disturbance, court order,
labor dispute, fire, or other cause beyond the reasonable control of Developer
(each of the foregoing is an "Unavoidable Delay"), then time lost as a result of
Unavoidable Delays shall be added to extend the Project Completion Date by a
number of days equal to the number of days lost as a result of Unavoidable
Delays. If the Improvements are not completed by the Project Completion Date
or any allowed period of extension, City may terminate this Agreement as set
forth in Section 13, title to the Property shall revert to City, and City shall have no
further obligation hereunder.
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 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 heirs, personal
representatives, 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
By:
/02,11Y-L Aie d i/e4416)'•-
Quentin M. Hart, Mayor Debra Kay Hodges Ha S on
Attest: /
Kelley Fe hle, City Clerk
STATE OF IOWA
) ss.
COUNTY OF BLACK HAWK
Page 3
On this 1 day of t , 2022, before me, a Notary Public in and
for the State of Iowa, personally appear$uentin M. Hart and Kelley Felchle, to me personally
known, who being duly sworn, did say that they are the Mayor and City Clerk, respectively, of
the City of Waterloo, Iowa, a municipal corporation, created and existing under the laws of the
State of Iowa, and that the seal affixed to the foregoing instrument is the seal of said municipal
corporation, and that said instrument was signed and sealed on behalf of said municipal
corporation by authority and resolution of its City Council, and said Mayor and City Clerk
acknowledged said instrument to be the free act and deed of said municipal corporation by it
and by them voluntarily executed.
NANCY HIGBY
COMMISSION NO.788229
MY •M :SSI• EXP'ES
STATE OF IOWA )
) ss.
COUNTY OF BLACK HAWK )
Subscribed and sworn to before me on
Hodges Harmon.
f 4 , 2022 by Debra Kay
Not` lic`