HomeMy WebLinkAboutCentral Property Holdings, LLC - Amendment No. 6 - (RECORDED)1.10.2022 11111111 IIIIffIIIIIIIIIIIIIIIIIIIII!I 111111 11111 111111
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ID: 011867510002 Type: GEN
Recorded: 11/18/2022 at 01:21:45 PM
Fee Amt: $12.00 Page 1 of 2
Black Hawk County Iowa
SANDIE L. SMITH RECORDER
File2023-00007963
C\-\'4-1 b- +C
reparer
Information Christopher S. Wendland. PO Box 596,Waterloo. Iowa 50704 (319)234.5701
Name Address City Phone
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 "$4,000,000.00" 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.
12 ( i 2- z
Page 2
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
By: .
By: 7
Quentin Hart, Mayor Rodney X. Anderson
Managing Member
7(;elky Tefch[e
Attest:
Kelley Felchle; City Clerk