HomeMy WebLinkAboutHydrite - (RECORDED) Amendment to DA - 5.5.2025 2025-07482
RECORDED:06/02/2 09:31:59 AM
RECORDING FEE:$12.00
REVENUE TAX:$
COMBINED FEE:$12.00
SANDIE L.SMITH,RECORDER
BLACK HAWK COUNTY,IOWA
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 Viu < , 2025 by and between the
City of Waterloo, Iowa ("City") and Hydrite Chemical Co. ("Company").
RECITALS
A. Company and City are parties to that certain Development Agreement dated March
7, 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 May 6, 2024 as Doc. No. 2024-
13833.
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. The first unnumbered paragraph of Section 3 of the DA is amended to state that
the Start Date shall be no later than October 1, 2025 and that the Completion Deadline shall be
October 31, 2026.
2. Section 2 of the MAA is amended to strike "December 31, 2035" therefrom and to
substitute "December 31, 2038" in its place.
3. 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.
1.3,
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.
HYDRITE CHEMICAL CO. CITY OF WATERLOO, IOWA
f
By: By: ,�._
r Quentin M. Hart, Mayor
Title: � rle‘y1 cic. 1 04'
B .
ey Fe , y Clerk
STATE OF VViSCc5n .)1 n )
) ss.
\o___.:_Aee a. COUNTY )
Acknowledged before me on Opt--)‘
1 -1 , 2025 b M S c— as
C--\\e r) ( -Pick of Hydrite Chemical Co.
ALLISON K. GAGNON
c)
Notary Public L r
State of Wisconsin Nota L.
1= U J�
.0) 5 I I toI La
STATE OF IOWA )
) ss.
BLACK HAWK COUNTY )
Acknowledged before me on , 2025 by Quentin M. Hart and Kelley
Felchle, as Mayor and City Clerk, resp ctively, of the City of Waterloo, Iowa.
I
No ublic
6, , BRITNI C p
z COMMISSION NEORFCINS
'k * MY COMMISSION 845529
1OWA JANUARY 27 EXPIRES
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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 V.a., < , 2025 by and between the
City of Waterloo, Iowa ("City") and Hydrite Chemical Co. ("C�mpany").
RECITALS
A. Company and City are parties to that certain Development Agreement dated March
7, 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 May 6, 2024 as Doc. No. 2024-
13833.
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. The first unnumbered paragraph of Section 3 of the DA is amended to state that
the Start Date shall be no later than October 1, 2025 and that the Completion Deadline shall be
October 31, 2026.
2. Section 2 of the MAA is amended to strike "December 31, 2035" therefrom and to
substitute "December 31, 2038" in its place.
3. 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.
HYDRITE CHEMICAL CO. CITY OF WATERLOO, IOWA
By: By: a..A. QC-(A)
�,/ :�� r I D�t� Quentin M. Hart, Mayor
Title: [�^ hi.4,1 c cc.
B .
ey Fe , y Clerk
•
STATE OF iscCsn51 r, )
ss.
Wn: k la. COUNTY )
Acknowledged before me on Ain l y t , 2025 b mi Ax-tt.5-"br`tr as
FtnasncLrk -�(��
(` `� . `— - ) t_ "rcICe-r of Hydrite Chemical Co.
cpALLISON K. GAGNON
Notary Public Nota of Wisconsin u
EXP SIl lob to
STATE OF IOWA )
) ss.
BLACK HAWK COUNTY )
Acknowledged before me on , 2025 by Quentin M. Hart and Kelley
Felchle, as Mayor and City Clerk, resp ctively, of the City of Waterloo, Iowa.
No ublic
iAtz
o�" s� BRITNI C P
z COMMISSION NEORK
't INS
i * MY COMMISSION 8I55529
JANUARY 27 2BRES
2
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