HomeMy WebLinkAboutWelter, Roberty & Rita-Occupancy Agreement-10.27.2008 t2- ' -DzecA - 9ss
AMENDMENT TO OCCUPANCY AGREEMENT
This Amendment to the Occupancy Agreement dated July 15, 2008, between the City of
Waterloo ("Owner") d Robert M. Welter and Rita M. Welter("Occupants") is made and
entered into this day of 0 CIO( e C , 2008. Said Agreement is amended by
adding the following language to Paragraph 15 of the original Agreement:
Occupants shall have the right, in their sole discretion, to carry insurance on the
Homestead in excess of the $20,000 coverage provided by Owner. If such insurance is carried
by Occupants and if there is damage to the Homestead in excess of$20,000 which is covered by
their insurance, they shall have the option to utilize their insurance (plus the coverage provided
by Owner)to repair damage to the Homestead in excess of the $20,000 limit. If they choose to
do this, Owner will pay no compensation to Occupants for temporary loss of use of the
Homestead, nor shall the term of this Agreement be tolled or extended. If Occupants choose not
to utilize their insurance for such damage repair, this Agreement shall then be terminated as
above set forth, and the Owner shall then pay Occupants compensation in an amount equal to
$1,000 for each month between and including the month in which such Homestead became
uninhabitable because of such damage and December 2011. Occupants shall also have the
option to carry insurance on the farm buildings against any damage or destruction which may
occur during the period of occupancy.
Except at so amended, the original Agreement shall otherwise remain in full force and
effect.
IN WITNESS WHEREOF,the parties hereto have executed this Amendment to
Occupancy Agreement as of the date first set forth above.
OWNER OCCUPANTS
City of Waterloo, Iowa
By:
Timothy J. y, Mayor Robert M. Welter
Atte : rde,JL
Nancy ckert, ity Clerk Rita M. Welter