HomeMy WebLinkAboutWolfe_R.E._Purchase_Agmnt_First_Amendment_-_10.6.2025Docusign Envelope ID: 377E1 D49-EFF1-47E3-BBBC-21846B7574E4
FIRST AMENDMENT TO REAL ESTATE PURCHASE AGREEMENT
This First Amendment to Real Estate Purchase Agreement ("Amendment") is entered into
as of this 6th day of October , 2025, by and among the City of Waterloo,
Iowa ("Buyer") and John R. Wolfe and Margaret A. Wolfe ("Seller") ("Buyer" and "Seller" are
collectively referred to as the "Parties").
WHEREAS, the Parties entered into a Real Estate Purchase Agreement signed by Buyer
on December 16, 2024, and signed by Seller on December 10, 2024. A copy of that Agreement is
appended hereto as Exhibit A,
WHEREAS, the Parties desire to amend said Real Estate Purchase Agreement in the
particulars described below.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual promises exchanged herein and for
other consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree
as follows:
1. Section 1.1 of the Real Estate Purchase Agreement is stricken in its entirety and
substituted with the following:
1.1 PURCHASE IN SERIES. The Property shall be purchased in up to five ( 5)
separate tracts as generally depicted on Exhibit " A" attached hereto. Each of
tracts 1- 4 are approximately 14 acres in size, and tract 5 is approximately 15.
68 acres in size. Tracts shall be purchased by Buyer on the following schedule:
Tract 1: See section 2 of the Real Estate Purchase Agreement.
Tract 2: The purchase and closing date shall be on a date that is
mutually agreeable to both Parties, but in any event, no later than
two (2) years after the closing date of Tract 1.
Tract 3: The purchase and closing date shall be on a date that is
mutually agreeable to both Parties, but in any event, no later than
two (2) years after the closing date of Tract 2.
Tract 4: The purchase and closing date shall be on a date that is
mutually agreeable to both Parties, but in any event, no later than
two (2) years after the closing date of Tract 3.
Tract 5: Buyer shall have a right of first refusal to purchase tract 5.
Buyer shall give notice to Seller at least forty-five (45) days in advance of an
expected closing date for any tract purchase, to allow sufficient time for abstract
update, title review and other matters to be completed before closing.
2. Except as amended in the particular manner set forth above, the terms and
provisions of the Real Estate Purchase Agreement shall continue unmodified and in full force.
Docusign Envelope ID: 377E1 D49-EFF1-47E3-BBBC-21846B7574E4
IN WITNESS WHEREOF, the Parties have executed this First Amendment to Real Estate
Purchase Agreement by their duly authorized representatives.
CITY OF WATERLOO, IOWA
By:
Date:
Attest:
DocuSigned by:
c
A.t,itA(kart
D0525D78AAE0440...
Quentin M. Hart, Mayor
10/6/2025
Signed by:
Kelley Fes&
knigV f f BCity Clerk
John R. Wolfe (Selle
Date: 9 - 30 - 2 s
Margaret A. Wolfe (Seller)
Date: ' D -7 .j