HomeMy WebLinkAboutClear Windows, LLP-Amendment -06.22.2009 05
AMENDMENT fl -mho , Dog - 57r 4
This addendum is signed and entered herein by an acquiring party and by the
City of Waterloo of the original Development Agreement entered into on the 19th
day of October 1998 by and between CLEAR WINDOWS LLP and THE CITY
OF WATERLOO.
Whereas, Sadler Brothers Ltd, is acquiring 3289 Airport Boulevard, located on a
portion of Lot No. 2 (Two) as described in Exhibit "B" located in the MidPort
America Park Plat No. 1, and
Whereas, the aforementioned Development Agreement was later amended in
2000, to state that a 9,800 sq. ft. building would be built with a 6,100 sq. ft.
minimum building expansion within five (5) years, and
Whereas, the expansion did not occur, and the west and south walls were never
replaced, as also stated, with a wall similar in design to the north and east walls.
Now Therefore, the City of Waterloo and Sadler Brothers Ltd do hereby agree to
the following:
1. That Sadler Brothers Ltd shall have 7 years to complete the expansion as
previously agreed to as a part of the Development Agreement. Any
reversion requirements for land or payment of $20,000 are duly changed
to reflect that 7-year period from the date of approval of this document.
2. That Sadler Brothers Ltd shall have 2 years to complete the improvements
to the south wall with a wall similar to the other two walls to the north and
east to meet the regulations of the MidPort America Industrial Park
Declaration (no more than 30% metal on wall side) and as previously
approved by the MidPort Architectural Review Committee. The west wall
would remain for the expansion to occur as stated in Number 1 above.
This addendum shall inure to the benefit of and be binding upon the successors
and assigns of the parties.
THE CITY OF WATERLOO
By: 44-et_ (
Tim Hu y, Mayor
ATTEST:
By::___/' re). }-
Nancy Eck , City Clerk
S DLER B ERS
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By: A
Thomas . a er
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