HomeMy WebLinkAboutGMJ2 Indsutries - Termination of DA - 3.18.2024Prepared by Christopher S. Wendland, P.O. Box 596, Waterloo, IA 50704. Phone (319) 234-5701
Return to Community Planning & Development, 715 Mulberry Street, Waterloo, IA 50703.
TERMINATION OF DEVELOPMENT AGREEMENT
WHEREAS, the City of Waterloo, Iowa ("City") and GMJ2 Industries, LLC ("Company")
entered into a certain Development Agreement (the "Agreement") and Minimum Assessment
Agreement (the "MAA"), each dated May 26, 2015, concerning real property legally described in said
documents (the "Property"); and
WHEREAS, Company has failed to undertake the Project, City did not convey the Property to
Company, and City desires to terminate the Agreement.
NOW, THEREFORE, City does hereby terminate the Agreement and the MAA.
Any term in this instrument that is capitalized but not defined has the same meaning that is
ascribed to it in the Agreement.
Dated March 18
, 2024
CITY OF WATERLOO, IOWA
Quentin Hart, Mayor
Attest:
&effey Felchfe
Kelley Felchle, City Clerk