HomeMy WebLinkAboutInternational Paper Company -(RECORDED) Amendment to DA - 12.1.2025 2026-01022
RECORDED:01/23/2026 03:29:04 PM
RECORDING FEE:$12.00
REVENUE TAX:$
COMBINED FEE:$12.00
SANDIE L.SMITH,RECORDER
BLACK HAWK COUNTY,IOWA
e/ 7'lJ 9( (,° CKI°6
Prepared by Austin J.McMahon.Lange&McMahon.PLC,222 1s'St. E.. Independence. IA 50644 319-334-4488
AMENDMENT TO DEVELOPMENT AGREEMENT
This Amendment to Development Agreement (the "Amendment") is entered into as of
, 2025 by and between International Paper Company
(the "Company") and the City of Waterloo, Iowa (the "City").
RECITALS
A. Company and City are parties to that certain Development Agreement dated
January 6, 2025 ("DA"), which is on file with City Clerk.
B. The parties desire to amend the DA as set forth in this Amendment.
NOW,THEREFORE, in consideration of the mutual covenants set forth herein, the parties
agree as follows:
1. The DA is hereby amended to provide that, in addition to the conveyance
described in the DA, the City shall also convey to Company by special warranty deed the following
described real estate:
Parcel K of the Southeast Quarter of Section 5, Township 89 North,
Range 13 West of the 5th Principal Meridian, City of Waterloo,
Black Hawk County, Iowa, as shown on Plat of Survey filed as
Document No. 2025-01860, and more particularly described as
follows:
Beginning at the intersection of the west line of Tract "K", MidPort
America Park Plat No. 2 and the north right-of-way line of the
Canadian National Railroad, thence North 89° 12' 25"West on said
north ROW line 1,215.14 feet to the southeast corner of Parcel B of
the SW 1/4 of Section 5, thence North 07° 02' 21" East 293 03 feet
on the east line of said Parcel B, said line being parallel with and
684 feet distant from the centerline of Runway 18/36, thence South
82° 57' 52" East 1,207.40 feet on a line that is parallel with the south
line of the Runway 18/36 runway protection zone to a point on the
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said west line of Tract "K"' being the intersection of said west line
and a line that is 160 feet north of and parallel with the said north
railroad ROW line, thence South 06° 51' 18" West 160.90 feet on
said west line to the point of beginning containing 274,116 square
feet (6.29 acres).
2. All of the terms and conditions concerning events of default and remedies of the
City, including but not limited to, a possibility of reverter, shall be applicable to Parcel K and the
conveyance thereof.
3. Except as modified herein,the DA shall continue unmodified in full force and effect.
Terms in this Amendment that are capitalized but not defined will have the same meanings herein
that are ascribed to them in the DA. This Amendment may be executed in multiple counterparts.
The DA 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.
CITY OF WATERLOO, IOWA INTERNATIONAL PAPER COMPANY
By: ti t,(47,/ By: r--)11, )74
Quentin M. Hart, Mayor
H I y Holt
Name: W. Neely Mallory, IV
Attest: Title: Director, Real Estate
Kelley Felch , CI erk
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Prepared by Austin J.McMahon, Lange&McMahon,PLC,222 15S St. E.,Independence. IA 50644 319-334-4488
AMENDMENT TO DEVELOPMENT AGREEMENT
This Amendment to Development Agreement (the "Amendment") is entered into as of
'JtCcrr l , 2025 by and between International Paper Company
(the "Company") and the City of Waterloo, Iowa (the "City").
RECITALS
A. Company and City are parties to that certain Development Agreement dated
January 6, 2025 ("DA"), which is on file with City Clerk.
B. The parties desire to amend the DA as set forth in this Amendment.
NOW,THEREFORE, in consideration of the mutual covenants set forth herein, the parties
agree as follows:
1. The DA is hereby amended to provide that, in addition to the conveyance
described in the DA,the City shall also convey to Company by special warranty deed the following
described real estate:
Parcel K of the Southeast Quarter of Section 5, Township 89 North,
Range 13 West of the 5th Principal Meridian, City of Waterloo,
Black Hawk County, Iowa, as shown on Plat of Survey filed as
Document No. 2025-01860, and more particularly described as
follows:
Beginning at the intersection of the west line of Tract "K", MidPort
America Park Plat No. 2 and the north right-of-way line of the
Canadian National Railroad, thence North 89° 12' 25"West on said
north ROW line 1,215.14 feet to the southeast corner of Parcel B of
the SW 1/4 of Section 5, thence North 07° 02' 21" East 293 03 feet
on the east line of said Parcel B, said line being parallel with and
684 feet distant from the centerline of Runway 18/36, thence South
82° 57'52" East 1,207.40 feet on a line that is parallel with the south
line of the Runway 18/36 runway protection zone to a point on the
International Paper-Business Use
Page 2
said west line of Tract "K"' being the intersection of said west line
and a line that is 160 feet north of and parallel with the said north
railroad ROW line, thence South 06° 51' 18" West 160.90 feet on
said west line to the point of beginning containing 274,116 square
feet (6.29 acres).
2. All of the terms and conditions concerning events of default and remedies of the
City, including but not limited to, a possibility of reverter, shall be applicable to Parcel K and the
conveyance thereof.
3. Except as modified herein, the DA shall continue unmodified in full force and effect.
Terms in this Amendment that are capitalized but not defined will have the same meanings herein
that are ascribed to them in the DA. This Amendment may be executed in multiple counterparts.
The DA 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.
CITY OF WATERLOO, IOWA INTERNATIONAL PAPER COMPANY
r— A/
By: DAJL,f244.)6--nCttg---- By.
Quentin M. Hart, Mayor
#Holr
Name: W. Neely Mallory, IV
Attest: Title: Director, Real Estate
elley Felchle ity Clerk
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