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Home My WebLink AboutAirline Storage -(RECORDED) Amendment to Dev Agmnt and MAA - 3.4.2024 2 2025-01738 RECORDED:02/06/2025 02:13:25 PM RECORDING FEE:$12.00 REVENUE TAX:$ COMBINED FEE:$12.00 SANDIE L.SMITH,RECORDER BLACK HAWK COUNTY,IOWA 0 .l-B�o. C; o-- Prepared 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 cu'c h L-} , 2024 by and between the City of Waterloo, Iowa ("City") and Airline Storage, L.L.C. ("Company"). RECITALS A. Company and City are parties to that certain Development Agreement dated June 20, 2022 (the "Agreement") concerning the development of property as described in the Agreement and also parties to that certain Minimum Assessment Agreement of the same date (the "MAA"). The Agreement and MAA were filed together in the records of the Black Hawk County Recorder on July 27, 2022 as Doc. No. 2023- 1565. B. The parties desire to amend the DA and MAA on the terms set forth herein. NOW, THEREFORE, in consideration of the premises and of other consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree to amend the Agreement as follows: 1. Section 2.B of the DA is amended to strike "fourteen (14) months after the date of this Agreement" and to substitute in its place "September 30, 2024." 2. Section 5.A of the DA is amended to state that the Phase 1 Completion Deadline is December 31, 2024 and the Phase 2 Completion Deadline is December 31, 2025. 3. Section 1 of the MAA is amended to strike "December 31, 2023" therefrom and to substitute "December 31, 2024" in its place. 4. Section 2 of the MAA is amended to strike "December 31, 2033" therefrom and to substitute "December 31, 2034" in its place. 5. Except as amended herein, the DA and the MAA shall continue unmodified in full force and effect. Terms capitalized in this Amendment but not defined herein shall have the meaning ascribed to them in the Agreement. This Amendment is binding on the parties and the respective successors, assigns, transferees and legal representatives of each. This Amendment may be executed in counterparts,each of which shall be deemed an original and all of which,when taken together,shall constitute a single instrument. IN WITNESS WHEREOF,the parties have executed this Amendment to Development Agreement and Amendment to Minimum Assessment Agreement as of the date first set forth above. AIRLINE STORAGE,L.L.C. CITY OF WATERLOO, IOWA By: By:pi,,,�yNL\RLn 6150— Jo athan oigt Quentin M.Hart,Mayor M naging Member /�_Q/fiQn�,�� / By: 'lei` " Kelley F4hle,City Clerk STATE OF IOWA ) )ss. BLACK HAWK COUNTY ) Acknowledged before me on .444Gtil) 210 ,2024 by Jonathan Voigt as Managing Member of Airline Storage,L.L.C. Iti �L4i SELIGA � z Commission Number 849716 IOWA My Commission Expires July 27,2026 Notary Publi STATE OF IOWA ) )ss. BLACK HAWK COUNTY ) Acknowledged before me on MliV/I ,2024 by Quentin M.Hart and Kelley Felchle,as Mayor and City Clerk,respectively,of the City of Waterloo,Iowa. ,0146, BRITNI C PERKINS i z COMMISSION NO.845529 *.OMIL* MY COMMISSION EXPIRES ar) IC IOWA JANUARY 27,2026 2 Prepared 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 Mu,rc h. , 2024 by and between the City of Waterloo, Iowa ("City") and Airline Storage, L.L.C. ("Company"). RECITALS A. Company and City are parties to that certain Development Agreement dated June 20, 2022 (the "Agreement") concerning the development of property as described in the Agreement and also parties to that certain Minimum Assessment Agreement of the same date (the "MAA"). The Agreement and MAA were filed together in the records of the Black Hawk County Recorder on July 27, 2022 as Doc. No. 2023- 1565. B. The parties desire to amend the DA and MAA on the terms set forth herein. NOW, THEREFORE, in consideration of the premises and of other consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree to amend the Agreement as follows: 1. Section 2.B of the DA is amended to strike "fourteen (14) months after the date of this Agreement" and to substitute in its place "September 30, 2024." 2. Section 5.A of the DA is amended to state that the Phase 1 Completion Deadline is December 31, 2024 and the Phase 2 Completion Deadline is December 31, 2025. 3. Section 1 of the MAA is amended to strike "December 31, 2023" therefrom and to substitute "December 31, 2024" in its place. 4. Section 2 of the MAA is amended to strike "December 31, 2033" therefrom and to substitute "December 31, 2034" in its place. 5. Except as amended herein, the DA and the MAA shall continue unmodified in full force and effect. Terms capitalized in this Amendment but not defined herein shall have the meaning ascribed to them in the Agreement. This Amendment is binding on the parties and the respective successors, assigns, transferees and legal representatives of each. This Amendment may be executed in counterparts, each of which shall be deemed an original and all of which, when taken together, shall constitute a single instrument. IN WITNESS WHEREOF, the parties have executed this Amendment to Development Agreement and Amendment to Minimum Assessment Agreement as of the date first set forth above. AIRLINE STORAGE, L.L.C. CITY OF WATERLOO, IOWA i By: /64/ a ► By: LsL. is,_.„.Johan oigt Quentin M. Hart, Mayor Mging Member /fiQn�^ � � //�� /�� QQ` � By: <r-g`�"' �Je,Gcc^f'" Kelley F&hle, City Clerk STATE OF IOWA ) ) ss. BLACK HAWK COUNTY ) Acknowledged before me on t"i?bruCt,£11 2(0 , 2024 by Jonathan Voigt as Managing Member of Airline Storage, L.L.C. J e�A Commission EMILYSELIGA Number 849716 */OYIA My Commission Expires Julyz7,20zs Notary Publi STATE OF IOWA ) ) ss. BLACK HAWK COUNTY ) Acknowledged before me on iviako/I, 5 , 2024 by Quentin M. Hart and Kelley Felchle, as Mayor and City Clerk, respectively, of the City of Waterloo, Iowa. APR'" ,s BRITNI C PERKINS i Z y COMMISSION NO.845529 ar IC * q* MY COMMISSION EXPIRES 1 IOWA JANUARY 27,2026 r 2