HomeMy WebLinkAbout2023-369-06.05.2023Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-369
RESOLUTION APPROVING A SUBORDINATION
AGREEMENT WITH UNION AT NORTH CROSSING, LP, FOR
THE BENEFIT OF HUNTINGTON NATIONAL BANK,
PERTAINING TO OBLIGATIONS UNDER THE REAL
ESTATE PURCHASE AGREEMENT DATED AUGUST 1,
2022, AND AMENDED APRIL 13, 2023, BY INSTRUMENT
NOS. 2023-6156, FILED OCTOBER 14, 2022, AND 2023-13814,
FILED APRIL 25, 2023, WITH THE BLACK HAWK COUNTY
RECORDERS OFFICE, FOR A PROJECT LOCATED NORTH
OF 501 LAKESIDE STREET, AND AUTHORIZING THE
MAYOR AND CITY CLERK TO EXECUTE SAID
DOCUMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA
that the Subordination Agreement with Union at North Crossing, LP, for the benefit of
Huntington National Bank, pertaining to obligations under the Real Estate Purchase Agreement
dated August 1, 2022, and amended April 13, 2023, by Instrument Nos. 2023-6156, filed October
14, 2022, and 2023-13814, filed April 25, 2023, with the Black Hawk County Recorders Office,
for a project located north of 501 Lakeside Street, is hereby approved, and the Mayor and City
Clerk are authorized and directed to execute said documents on behalf of the City of Waterloo,
Iowa.
PASSED AND ADOPTED this 5th day of June 2023.
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Quentin Hart, Mayor
ATTEST:
Kelley Felchle
Kelley Felchle, City Clerk
SEAL
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