HomeMy WebLinkAboutLincoln Savings Bank - Amendment to DA and Minimum Assessment Agreement - 4.5.2021Prepared by Christopher S. Wendland, P.O. Box 596, Waterloo, IA 50703. 319-234-5701
AMENDMENT TO DEVELOPMENT AGREEMENT
AND AMENDMENT TO MINIMUM ASSESSMENT AGREEMENT
This Amendment to Development Agreement and Amendment to Minimum
Assessment Agreement (the "Amendment") is entered into as of -NpQ, S zo z t
2023 by and between Lincoln Savings Bank (the "Company") and the City of Waterloo,
Iowa (the "City").
RECITALS
A. Company and City are parties to that certain Development Agreement
dated October 7, 2019 (the "DA"), as amended thereafter on November 4,
2019, concerning the development of property as described in the
Agreement. Company and City are also parties to that certain Minimum
Assessment Agreement (the "MAA") pertaining to said property, dated as
of the same date as the original DA. The DA and MAA have been filed in
the land records of Black Hawk County as Doc. No. 2020-10730, and the
prior amendment has been filed as Doc. No. 2020-10732.
B. The parties desire to further amend the DA and the MAA 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 of the DA and Section 1 of the MAA are amended to strike
"December 31, 2020" from each of them and to substitute " " in place of
each.
2. Section 2 of the MAA is amended to strike "December 31, 2050" therefrom
and to substitute "December 31, " in place thereof.
3. 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. This Amendment may be executed in multiple counterparts. The DA, MAA,
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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 and Amendment to Minimum Assessment Agreement by their
duly authorized representatives as of the date first set forth above.
CITY OF WATERLOO, IOWA
By:
Q entin M. Ha , Mayor
Attest:
IIK
elley Felchle, City Clerk
STATE OF IOWA
) ss.
COUNTY OF BLACK HAWK
LINCOLN SAVINGS BANK
By:
Erik Skovgard, President/CEO
On this ,6 day of kb , 2023, before me, a Notary Public in
and for the State of Iowa, personally appear 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.
NANCY HIGBY
COMMISSION NO.7-88229
MVV..CO IS ION PIFiES
Page 3
STATE OF IOWA
ss.
COUNTY OF 3\(k kkk )
Subscribed and sworn to before me on f VlAAky �L , 2023 by Erik
Skovgard as President/CEO of Lincoln Savings Bank. I
Notary Public
KARLA N EESTER
Commission Number 767E94
' My Commission Expires
May17, 2023