HomeMy WebLinkAboutBlack_Hawk_Contracting_and_Development_-_Heartland_Community_Investment_Fund_-_Assignment_of_RebatesDocusign Envelope ID: 2BA02A85-E195-4590-93B8-E23065DB8755
ASSIGNMENT OF REBATES AND WAIVER/RELEASE
This Assignment of Rebates and Waiver/Release ("Agreement") is entered into as of
March 2 , 2026 by and between White Rhino Real Estate, LLC
("White Rhino"), Iowa Heartland Community Investment Fund, LLC ("Habitat"), and the City
of Waterloo, Iowa ("City").
RECITALS
WHEREAS, the City entered into a Development Agreement dated February 17, 2014,
recorded with the Black Hawk County Recorder as File No. 2014-00018869, concerning certain
real property as described as Lots 1, 2, 3, 4, 5, 6, 7 and 8 of St Josephs Square, City of Waterloo,
Black Hawk County, Iowa ("Property").
WHEREAS, Paramount Investments, LLC ("Paramount") became the owner of the
Property as shown by a deed recorded with the Black Hawk County Recorder on May 11, 2016,
as Doc. No. 2016-19006.
WHEREAS, Paramount conveyed its ownership interest in and to the Property to White
Rhino as shown by a deed recorded with the Black Hawk County Recorder on January 6, 2023,
as Doc. No. 2023-09715.
WHEREAS, White Rhino conveyed its ownership interest in and to the Property to
Habitat as shown by a deed recorded with the Black Hawk County Recorder on April 11, 2025,
as Doc. No. 2025-04761.
WHEREAS, Habitat is the current owner of the Property.
NOW, THEREFORE, in consideration of the mutual covenants set forth herein, the
Parties agree as follows:
1. White Rhino hereby assigns, conveys, and transfers to Habitat any rights or
benefits that White Rhino has or might have with respect to the Property and that arose out of the
Development Agreement, any amendment thereof, or any assignment thereof, including but not
limited to, property tax rebates. White Rhino forever waives and releases any rights or claims to
property tax rebates in connection with the Property and forever discharges any liability or
obligation of the City to pay White Rhino property tax rebates in connection with the Property.
2. Habitat hereby accepts said assignment, conveyance, and transfer from Paramount
and White Rhino, respectively.
3. The City acknowledges and consents to this Assignment of Rebates and
Waiver/Release.
Page 1 of 2
Docusign Envelope ID: 2BA02A85-E195-4590-93B8-E23065DB8755
IN WITNESS WHEREOF, the Parties have executed this Assignment of Rebates and
Waiver/Release by their duly authorized representatives.
WHITE RHINO REAL ESTATE, LLC (Assignor)
By:
Title:
Dated:
IOWA HEARTLAND COMMUNITY INVESTMENT FUND, LLC (Assignee)
By:
Title:
Dated:
Acknowledgment/Consent to Assignment:
CITY OF WATERLOO, IOWA
By:
,—Signed by:
Piw. bbt Swt,
"--BB9esen, Mayor
Dated: 03/02/2026
Signed by:
Attc st f
'KETIESBTelthle, City Clerk
Page 2 of 2