HomeMy WebLinkAboutMako Waterloo Corporation-Amendment to Develoment Agreement-03.10.2008 g
AMENDMENT TO DEVELOPMENT AGREEMENT
This Amendment to Development Agreement (the "Amendment") is entered into as of
March 0 , 2008, by and between the City of Waterloo, Iowa ("City") and Mako Waterloo
Corporation ("Company").
RECITALS
ALS
A. Company and City are parties to that certain Development Agreement dated
.77kdjtcv°7 7 Zc >J (the "Agreement") concerning the development of land
described as set forth on Exhibit "A" thereto (the "Property"), commonly known as
the Rath Administration Building.
B. Company and City desire to amend the Agreement to extend the deadlines for
completion of certaii activities.
NOW, THEREFORE, in consideration of the mutual promises set forth herein, the
parties hereby agree as follows:
1. Section 1.1 of the Agreement is amended to provide that City shall complete
remediation activities by July18, 2008.
2. Section 2 of the Agreement and Exhibit B to the Agreement are amended to
provided that Company shall complete its due diligence by March 24, 2008.
3. Except as modified herein, the Agreement shall continue unmodified in full force
and effect. The Agreement 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 by their duly authorized representatives as of the date first set forth above.
MAKO WATERLOO CORPORATION CITY OF WATERLOO, IOWA
B
By:
y:
B DeB.lt, President Timothy J. Hu , Mayor
B
Nancy Ecke , ity Clerk
ti