HomeMy WebLinkAbout2023-519-08.21.2023Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-519
RESOLUTION APPROVING A COLLATERAL ASSIGNMENT
OF INFRASTRUCTURE DEVELOPMENT AGREEMENT
BETWEEN THE CITY OF WATERLOO AND FARMERS
STATE BANK, RELATED TO THE DEVELOPMENT OF
NORTH CROSSING, LOCATED AT THE NORTHEAST
CORNER OF EAST DONALD STREET AND LOGAN
AVENUE (HIGHWAY 63), AND AUTHORIZING THE
MAYOR TO EXECUTE SAID DOCUMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA
AS FOLLOWS:
1. That the Collateral Assignment of Infrastructure Development Agreement between
Farmers State Bank and the City of Waterloo, related to the development of North Crossing,
located at the northeast corner of East Donald Street and Logan Avenue (Highway 63), and
legally described as follows:
DESCRIPTION OF COMPANY PROPERTY
PARCEL 8913-12-376-020: NORTH 699.2 FEET OF THE EAST 769 FEET OF
THE WEST 802 FEET OF THE SE 1/4 OF THE SW 1/4 OF SECTION 12,
TOWNSHIP 89 NORTH, RANGE 13 WEST OF THE 5TH P.M., BLACK
HAWK COUNTY, IOWA, EXCEPT THE SOUTH 102 FEET THEREOF.
PARCEL 8913-12-351-027: TRACT A, NORTH CROSSING ADDITION.
PARCEL 8913-12-351-030: LOT 1, NORTH CROSSING 2ND ADDITION.
DESCRIPTION OF CITY PROPERTY
PARCEL 8913-12-326-003: PARCEL "G" OF PLAT OF SURVEY DOC. #2008-
10309 OF PART OF THE NE1/4 SW1/4 OF SECTION 12, TOWNSHIP 89
NORTH, RANGE 13 WEST OF THE 5TH P.M., BLACK HAWK COUNTY,
IOWA.
PARCEL 8913-12-301-009: ALL THAT PART OF THE NORTHWEST
QUARTER OF THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP
89 NORTH, RANGE 13 WEST OF THE 5TH P. M., BLACK HAWK COUNTY,
IOWA, LYING SOUTH OF THE RALSTON ROAD AS ESTABLISHED BY
420 DEEDS 475 EXCEPT THE NORTH 120 FEET OF THE SOUTH 136 FEET
OF THE WEST 363 FEET THEREOF AND EXCEPT THE EAST 33 FEET
THEREOF AND EXCEPT THAT PART THEREOF CONVEYED TO THE
STATE OF IOWA IN 547 LD 447 AND FURTHER EXCEPT PARCEL "D" OF
PLAT OF SURVEY DOC. #2003-05489 AND FURTHER EXCEPT THAT
PART LYING WITHIN NORTH CROSSING ADDITION IN THE CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA.
AND
LOT 1, MENARD-LOGAN PLAZA MINOR PLAT, BLACK HAWK COUNTY,
IOWA RECORDED IN DOC.
#2008-07262 AND BEING A PART OF THE SOUTHWEST QUARTER OF
THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 89 NORTH,
RANGE 13. WEST OF THE 5TH P.M., BLACK HAWK COUNTY, IOWA,
EXCEPT THAT PART LYING WITHIN NORTH CROSSING ADDITION IN
THE CITY OF WATERLOO, BLACK HAWK COUNTY, IOWA.
VIRDEN CREEK PROJECT PROPERTY
PARCEL 8913-12-151-027: A PART OF THE SW 1/4 NW 1/4 SECTION 12, T-
Resolution 2023-519
Page 2
89-N, R-13-WOF THE FIFTH PRINCIPAL MERIDIAN, BLACK HAWK
,COUNTY BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE SE COR. SW 1/4 NW 1/4 CORNER OF SAID
SECTION 12; THENCE N00°48'37"W, ALONG THE EAST LINE OF THE SW
1/4 NW 1/4 OF SAID SECTION, 997.69 FEET TO THE POINT OF
BEGINNING. THENCE S89"44'18"W, 987.60 FEET; THENCE N00"43' 12"W,
100.00 FEET; THENCE S89°45'02'W, 130.00 FEET; THENCE S89"56'55'W,
110.17 FEET; TO THE EAST RIGHT OF WAY LLNE OF LOGAN
AVENUE/U.S. HIGHWAY 63; THENCE N25° 18'44"W, ALONG SAID RIGHT
OF WAY, 54.74 FEET; THENCE N89°44'21 "E, 1250.30 FEET TO THE SAID
EAST LINE SW 1/4 NW 1/4; THENCE S00°48'37"E, ALONG SAID EAST
LINE, 150.01 FEET TO THE POINT OF BEGINNING.
PARCEL 8913-12-176-005: A PART OF THE SE'/4 NW'/4 AND NE'/4 SW1/4
SECTION 12, TOWNSHIP 89 NORTH, RANGE 13 WEST OF THE RFTH
PRINCIPAL MERIDIAN, BLACK HAWK COUNTY, BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE SW
CORNER, SE 1/4 NW 1/4 OF SAID SECTION 12; THENCE N 00°48'37"W,
ALONG THE WEST LINE SE 1/4NW1/4 OF SAID SECTION, 1147.69FEET;
THENCE N89"44'21" E, 233.01 FEET; THENCE S00°48'37"E, 1699.87 FEET;
THENCE N89°6'50"W, 198.88 FEET; THENCE N00°55'45"W, 550.97 FEET
TO THE NORTH LINE NE 1/4 SW1/4 OF SAID SECTION; THENCE
S89°57'56"W, ALONG SAID NORTH LINE, 33.00 FEET TO THE POINT OF
BEGINNING.
PARCEL 8913-12-326-005: A PART OF THE NE1/4 SW1/4 SECTION 12,
TOWNSHIP 89 NORTH, RANGE 13 WEST OF THE FIFTH PRINCIPAL
MERIDIAN, BLACK HAWK COUNTY, BEING MORE PARTICULARLY
DESCRIBED AS FOLLOWS: COMMENCING AT THE S1/4 CORNER OF
SAID SECTION 12; THENCE N00°53'50"W ALONG THE EAST LINE OF
SW1/4 OF THE SAID SECTION 12, 1846.97 FEET TO THE POINT OF
BEGINNING; THENCE N65°38'15"W, 294.10 FEET; THENCE
N89°56'S0"WTO THE EAST RIGHT OF WAY OF E. 4111 STREET, 1032.27
FEET, THENCE N00°55'45"W, ALONG SAID EAST RIGHT OF WAY, 100.01
FEET; THENCE S89°56'S0"E, TO THE EAST LINE OF THE NE1/4 SW1/4 OF
SAID SECTION, 1298.33 FEET; THENCE S00°53'S0"E, ALONG SAID EAST
LINE, 221.10 FEET TO THE POINT OF BEGINNING.
PARCEL 8913-12-401-002: A PERMANENT EASEMENT OVER AND UPON
THE FOLLOWING PROPERTY OWNED BY ALCORN: A PART OF THE
WEST 15 ACRES OF THE S1/2 OF THE NW1/4 OF THE SE1/4 OF SECTION 12,
TOWNSHIP 89 NORTH, RANGE 13 WEST OF THE 5111 P.M., BLACK
HAWK COUNTY, IOWA, BEING MORE PARTICULARLY DESCRIBED AS
FOLLOWS: COMMENCING AT THE S1/4 CORNER OF SAID SECTION 12;
THENCE N 00°53'50" W ALONG THE WEST LINE OF THE SE1/4 OF SAID
SECTION 12, 1835.74 FEET TO THE POINT OF BEGINNING; THENCE N
00°53'50" W CONTTNULNG ALONG SAID WEST LINE, 99.69 FEET;
THENCE S65°38'15" E, 96.54 FEET;_THENCE S 89°53'58" E, 910.27 FEET
TO A POINT ON THE EAST LINE OF THE WEST 15 ACRES OF THE S1/2 OF
THE NW1/4 OF THE SE1/4 OF SAID SECTION; THENCE S 00°52'33" E
ALONG SAID EAST LINE, 60.01 FEET; THENCE N 89°53'58" W, 997.57
FEET TO THE POINT OF BEGINNING.
is hereby approved.
2. That the Mayor is authorized and directed to execute said documents on behalf of the
City of Waterloo, Iowa.
PASSED AND ADOPTED this 21st day of August 2023.
Resolution 2023-519
Page 3
ATTEST:
Kelley Felchle
Kelley Felchle, City Clerk
CERTIFICATE
Qaeft a 9zr1
Quentin Hart, Mayor
I, Kelley Felchle, City Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution No. 2023-519 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 21st day of August 2023.
Witness my hand and seal of office this 21st day of August 2023.
SEAL
0
!f a 0
1 "441
P111111!Pr11.
Kelley Felc/ile
Kelley Felchle, City Clerk