HomeMy WebLinkAboutRyan Meyers - DA (RECORDED)-3.16.2026 2026-05073
RECORDED: 04/13/2026 02:49:48 PM
RECORDING FEE: $12.00
REVENUE TAX: $
COMBINED FEE: $12.00
SANDIE L. SMITH, RECORDER
BLACK HAWK COUNTY, IOWA
Prepared by Austin J McMahon, 22 1st St. E, Waterloo, IA. (319) 334-4488
r r1 �`O C: c.)a. ' 00, 716 /vial beitc3 '' Wfk't too, IA 50763
AFFIDAVIT
STATE OF IOWA )
) ss:
BLACK HAWK COUNTY )
The undersigned, being duly sworn on oath, deposes and states as follows:
1 . I drafted a certain Development Agreement, dated March 16, 2026, and recorded on
March 31 , 2026, with the Black Hawk County Recorder as Doc. No. 2026-04217, that was entered
into between the City of Waterloo, Iowa, and Ryan Meyers.
2. Exhibit A of that Development Agreement contains a legal description of the real
property that is the subject of the Development Agreement. Exhibit A references the correct and
intended real property, such that correct and intended real property can be ascertained by the legal
description included in Exhibit A, but through inadvertence or scrivener's error, the legal description
included in Exhibit is not the full, entire legal description.
3. The intentions and expectations of the parties to the Development Agreement was
and is that the legal description of the real property subject to the Development Agreement is the
legal description set forth on Exhibit 1 to this Affidavit.
FURTHER AFFIANT SAYETH NAUGHT. ') `
Lexi Schneider
Subscribed and sworn to before me on iI, /Z/ , 2026, by Lexi
Schneider.
,,v5A �� TRACIA S ROSS /� �
z CUMMiSSI NO. gi 1963 t sd ,e:�
* * MY COMMISSION EXPIRES
,owe t ,__�_2,ba7 Notary Public
EXHIBIT 1
PARCEL "M" LOCATED IN LOT TWENTY-FIVE (25) AND A PART OF LOT TWENTY-FOUR (24),
HICKORY COURT ADDITION, CITY OF WATERLOO, BLACK HAWK COUNTY, IOWA,
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHEAST CORNER OF LOT 25, HICKORY COURT ADDITION, CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA; THENCE SOUTH 00°01'20" WEST, 98.00 FEET
ALONG THE EAST LINE OF LOT 25 AND LOT 24, SAID HICKORY COURT ADDITION, ALSO BEING
THE WEST RIGHT OF WAY LINE OF GREENHILL ROAD; THENCE NORTH 89°54'31"WEST, 115.26
FEET TO THE WEST LINE OF SAID LOT 24; THENCE NORTH 00°02'19" WEST, 98.00 FEET
ALONG THE WEST LINE OF SAID LOTS 24 AND 25, ALSO BEING THE EAST RIGHT OF WAY LINE
OF NORRIS COURT, TO THE NORTHWEST CORNER OF SAID LOT 25; THENCE SOUTH 89°54'31"
EAST, 115.37 FEET ALONG THE NORTH LINE OF SAID LOT 25 TO THE POINT OF BEGINNING,
CONTAINING 11,301 SQUARE FEET (0.26 ACRES). SUBJECT TO EASEMENTS AND
RESTRICTIONS OF RECORD, IF ANY.
AND
PARCEL"N" LOCATED IN LOT TWENTY-THREE (23) AND A PART OF LOT TWENTY-FOUR (24),
HICKORY COURT ADDITION, CITY OF WATERLOO, BLACK HAWK COUNTY, IOWA,
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF LOT 23, HICKORY COURT ADDITION, CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA;THENCE NORTH 00°01'20" EAST, 81.87 FEET
ALONG THE EAST LINE OF LOT 23 AND LOT 24, SAID HICKORY COURT ADDITION, ALSO BEING
THE WEST RIGHT OF WAY LINE OF GREENHILL ROAD; THENCE NORTH 89°54'31"WEST, 115.26
FEET TO THE WEST LINE OF SAID LOT 24; THENCE SOUTH 00°02'19" EAST, 82.32 FEET ALONG
THE WEST LINE OF SAID LOTS 23 AND 24, ALSO BEING THE EAST RIGHT OF WAY LINE OF
NORRIS COURT, TO THE SOUTHWEST CORNER OF SAID LOT 23; THENCE NORTH 89°51'58"
EAST, 115.18 FEET ALONG THE SOUTH LINE OF SAID LOT 23 TO THE POINT OF BEGINNING,
CONTAINING 9,459 SQUARE FEET (0.22 ACRES). SUBJECT TO EASEMENTS AND
RESTRICTIONS OF RECORD, IF ANY.
CG A
PN: 25-SB-0436
DATE OF SURVEY: 1-23-26
DRAWN BY: TRG
FIELD CREW: KNW TRG
SHEET NO. 2 OF 2
J:125-SB-04361dwgs12_Survey125-SB-0436 MEYERS Parcels M&N.dwg-LEGAL DESC- 01-27-26-1:48pm-trs246
2-
2026-04217
RECORDED:03/31/2026 02:03:98 PM
RECORDING FEE:$62.00
REVENUE TAX:$
COMBINED FEE:$62.00
SANDIE L.SMITH,RECORDER
BLACK HAWK COUNTY,IOWA
Preparer: Lexi Schneider,715 Mulberry Street,Waterloo,IA 50703 (319)291-4366
,yr After recording,return to Community Planning&Development,715 Mulberry Street,Waterloo,IA 50703.
DEVELOPMENT AGREEMENT
This Development Agreement(the"Agreement")is entered into as of
VL).(c,V) 11, ,2026,by and between Ryan Meyers("Developer"),and the City of
Waterloo, Iowa(''City").
RECITALS
A. Developer is the owner of real property as identified on Exhibit"A"
attached hereto(the"Property"). Developer is willing and able to finance
and undertake the construction of a new home on the Property and to
make related improvements.
B. City considers infill residential development within the City a benefit to the
community and is willing for the overall good and welfare of the community
to provide financial incentives to encourage that goal. City believes that
such development is in the vital and best interests of the City and in
accordance with the public purposes and provisions of the applicable
State and local laws and requirements under which the Project(defined
below)has been undertaken and is being assisted.
AGREEMENT
NOW,THEREFORE,in consideration of the mutual covenants set forth herein,
the parties agree as follows:
1. Phased Improvements by Developer. The parties contemplate that
Developer will develop the Property in phases,each of which is generally described as
follows.Phase 1 shall consist of the construction or development of a twin home to a
finished state,including sidewalk,garage and driveway,and shall be responsible for
removal of all construction debris,proper leveling or shaping of groundscape,and
grassing and/or landscaping(construction and finishing as so described are referred to
collectively as the"Improvements"). Phase II shall consist of the construction or
development of a twin home to a finished state,including sidewalk,garage and
driveway, and shall be responsible for removal of all construction debris, proper leveling
or shaping of groundscape, and grassing and/or landscaping (construction and finishing
as so described are referred to collectively as the "Improvements"). The construction
and/or development as described above are collectively referred to as the
"Improvements" or the "Project". The Improvements relating to each separate Phase will
be referred to as "Phase 1 Improvements" and/or "Phase 2 Improvements," as is
applicable.
Developer agrees that the Improvements shall be constructed in accordance with
the terms of this Agreement, all applicable City, state, and federal building codes and
shall comply with all applicable City ordinances and other applicable law. Developer
has submitted specific plans, building designs and site plans for City review and
approval before the commencement of construction and shall not substantially deviate
from such plans, specifications or designs as depicted in Exhibit "B" attached hereto.
Developer has used its best efforts to obtain, or cause to be obtained, in a timely
manner, all required permits, licenses and approvals, and will meet, in a timely manner,
all requirements of all applicable local, state, and federal laws and regulations which
must be obtained or met before the Improvements may be lawfully constructed. The
Property, the Improvements, and all site preparation and development-related work to
be undertaken and completed by Developer under this Agreement are collectively
referred to as the "Project."
2. Timeliness of Construction; Possibility of Termination. The parties
agree that Developer's commitment to cause the Project to be undertaken and to
construct the Improvements in a timely manner constitutes a material inducement for
the City to extend the incentives provided for in this Agreement, and that without said
commitment City would not do so.
A. Deadlines to commence and complete. Subject to Unavoidable
Delays (defined below), Developer has obtained a building permit for Phase 1
Improvements and must Substantially Complete construction of the Phase 1
Improvements within 8 months after the date of this Agreement (the "Completion
Deadline"). With respect to Phase 2 Improvements, Developer must obtain
necessary permits and Begin Construction of the Phase 2 Improvements within
four months of Substantial Completion of the Phase 1 Improvements and must
Substantially Complete the Phase 2 Improvements within 14 months thereafter.
For purposes of this Agreement, "Begin Construction" shall mean the
mobilization and entry by the Company's general contractor on the Property to
start construction of the Project pursuant to the construction contract executed
between the Company and the general contractor, and "Substantially Complete"
shall mean the date on which the phase Improvements have been completed to
the extent necessary for the City to issue a certificate of occupancy relating
thereto and the City has verified that any Project element for which no permit was
necessary has been completed to City's reasonable satisfaction. The City's
Community Planning and Development Director may, but shall not be required to,
consent to an extension of time of up to six (6) months for the construction of the
2
Improvements. Any additional or longer time extensions will require consent of
the City Council.
B. Events triggering termination. If Developer does not Substantially
Complete construction of the Improvements on the schedule(s) stated above,
subject to Unavoidable Delays, then City may terminate this Agreement as set
forth in Section 9, and City shall then have no further obligation to Developer
under this Agreement. If development has commenced within the required
period, as the same may be extended, and is subsequently stopped or delayed
as a result of an act of God, war, civil disturbance, court order, labor dispute, fire,
or other cause beyond the reasonable control of Developer (each an
"Unavoidable Delay"), the requirement that construction be completed by the
Completion Deadline shall be tolled for a period of time equal to the period of
Unavoidable Delay. As promptly as possible, Developer shall notify City in
writing of the occurrence of any Unavoidable Delay and shall again notify City in
writing when the Unavoidable Delay has ended. If City terminates this
Agreement as provided in Section 9, City shall have no further obligations to
Developer under this Agreement, including but not limited to any legal or
equitable obligation to reimburse Developer for any costs expended by
Developer with respect to the Project. In connection with termination of the
Agreement as set forth herein, City may demand reimbursement of any sums
paid to or for the benefit of Developer in connection with the Project, in addition
to exercising any other available remedies.
3. Utilities. Developer will be responsible for extending water, sewer,
telephone, telecommunications, electricity, gas and other utility services from street right
of way to any location on the Property and for payment of any associated connection
fees.
4. City Incentives. To aid the Project, City agrees to provide the following
assistance:
A. Infill Housing Grant. As provided in the City's infill housing policy,
City will pay Developer a grant of$5,000.00 per unit for a maximum of$10,000
total for Phase 1 Improvements and $10,000 for Phase 2 Improvements within
thirty (30) days after Developer has Substantially Completed the Improvements
and has obtained a Certificate of Occupancy for the Project.
5. Additional Covenants of Developer. In addition to the other promises,
covenants and agreements of Developer as provided elsewhere in this Agreement,
Developer agrees as follows:
A. Until the Improvements have been Substantially Completed,
Developer shall make such reports to City, in such detail and at such times as
may be reasonably requested by City, as to the actual progress of Developer
with respect to construction of the Improvements.
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B. Developer will comply with all applicable land development laws
and City and county ordinances, and all laws, rules and regulations relating to its
businesses, other than laws, rules and regulations where the failure to comply
with the same, or where the sanctions and penalties resulting therefrom, would
not have a material adverse effect on the business, property, operations, or
condition, financial or otherwise, of Developer.
C. Developer will cooperate fully with the City in resolution of any
traffic, parking, trash removal or public safety problems which may arise in
connection with the construction and operation of the Improvements.
D. Developer agrees during construction of the Improvements to
maintain, as applicable, builder's risk, property damage, and liability insurance
coverages with respect to the Improvements in such amounts as are customarily
carried by like companies engaged in activities of comparable size and liability
exposure, and shall provide evidence of such coverages to the City upon
request.
6. Representations and Warranties of City. City hereby represents and
warrants as follows:
A. City is not prohibited from consummating the transaction
contemplated in this Agreement by any law, regulation, agreement, instrument,
restriction, order or judgment.
B. Each person who executes and delivers this Agreement and all
documents to be delivered hereunder is and shall be authorized to do so on
behalf of City.
7. Representations and Warranties of Developer. Developer hereby
represents and warrants as follows:
A. It is duly organized, validly existing, and in good standing under the
laws of the state of its organization and is duly qualified and in good standing
under the laws of the State of Iowa.
B. It has all requisite power and authority to own and operate its
properties, to carry on its business as now conducted and as presently proposed
to be conducted, and to enter into and perform its obligations under this
Agreement.
C. This Agreement has been duly and validly authorized, executed
and delivered by Developer and, assuming due authorization, execution and
delivery by the other parties hereto, is in full force and effect and is a valid and
legally binding instrument of Developer that is enforceable in accordance with its
4
terms, except as the same may be limited by bankruptcy, insolvency,
reorganization or other laws relating to or affecting creditors' rights generally.
D. The execution and delivery of this Agreement, the consummation of
the transactions contemplated hereby, and the fulfillment of or compliance with
the terms and conditions of this Agreement are not prevented by, limited by, in
conflict with, or result in a violation or breach of, the terms, conditions or
provisions of the articles of organization or operating agreement of Developer or
of any contractual restriction, evidence of indebtedness, agreement or instrument
of whatever nature to which Developer is now a party or by which it or its
property is bound, nor do they constitute a default under any of the foregoing.
E. There are no actions, suits or proceedings pending or threatened
against or affecting Developer in any court or before any arbitrator or before or by
any governmental body in which there is a reasonable possibility of an adverse
decision which could materially adversely affect the business (present or
prospective), financial position, or results of operations of Developer or which in
any manner raises any questions affecting the validity of the Agreement or
Developer's ability to perform its obligations under this Agreement.
8. Default. The following shall be "Events of Default" under this Agreement,
and the term "Event of Default" shall mean any one or more of the following events that
continues beyond any applicable cure periods:
A. Failure by Developer to cause the Improvements to be commenced
and completed pursuant to the terms, conditions and limitations of this
Agreement;
B. Transfer by Developer of any interest (either directly or indirectly) in
the Improvements, the Property, or this Agreement, without the prior written
consent of City, except as expressly authorized by this Agreement;
C. Failure by any party hereto to substantially observe or perform any
covenant, condition, obligation or agreement on its part to be observed or
performed under this Agreement;
D. Developer (1) files any petition in bankruptcy or for any
reorganization, arrangement, composition, readjustment, liquidation, dissolution,
or similar relief under the federal bankruptcy law or any similar state law; (2)
makes an assignment for the benefit of its creditors; (3) admits in writing its
inability to pay its debts generally as they become due; (4) is adjudicated a
bankrupt or insolvent; or if a petition or answer proposing the adjudication of
Developer as a bankrupt or its reorganization under any present or future federal
bankruptcy act or any similar federal or state law shall be filed in any court and
such petition or answer shall not be discharged or denied within ninety (90) days
after the filing thereof; or a receiver, trustee or liquidator of Developer, or part
5
thereof, shall be appointed in any proceedings brought against Developer and
shall not be discharged within ninety (90) days after such appointment, or if
Developer shall consent to or acquiesce in such appointment; or (5) defaults
under any mortgage applicable to the Property; or
E. Any representation or warranty made by Developer in this
Agreement, or made by Developer in any written statement or certificate
furnished by Developer pursuant to this Agreement, shall prove to have been
incorrect, incomplete or misleading in any material respect on or as of the date of
the issuance or making thereof.
9. Remedies.
A. Default by Developer. Whenever any Event of Default in respect of
Developer occurs and is continuing, the City may terminate this Agreement.
Before exercising such remedy, City shall give 30 days' written notice to
Developer of the Event of Default, provided that by the conclusion of such period
the Event of Default shall not have been cured, or the Event of Default cannot
reasonably be cured within 30 days and Developer shall not have provided
assurances reasonably satisfactory to the City that the Event of Default will be
cured as soon as reasonably possible. Upon termination, City may exercise any
and all remedies available at law, equity, contract or otherwise for recovery of
any sums paid by City to Developer before the date of termination.
B. Default by City. Whenever any Event of Default in respect of City
occurs and is continuing, Developer may take such action against City to require
it to specifically perform its obligations hereunder. Before exercising such
remedy, Developer shall give 30 days' written notice to City of the Event of
Default, provided that by the conclusion of such period the Event of Default shall
not have been cured, or if the Event of Default cannot reasonably be cured within
30 days and City shall not have provided assurances reasonably satisfactory to
the Developer that the Event of Default will be cured as soon as reasonably
possible.
C. Remedies under this Agreement shall be cumulative and in addition
to any other right or remedy given under this Agreement or existing at law or in
equity or by statute. Waiver as to any particular default, or delay or omission in
exercising any right or power accruing upon any default, shall not be construed
as a waiver of any other or any subsequent default and shall not impair any such
right or power.
10. Indemnification and Releases.
A. Developer hereby releases City, its elected officials, officers,
employees, and agents (collectively, the "indemnified parties") from, covenants
and agrees that the indemnified parties shall not be liable for, and agrees to
6
indemnify, defend and hold harmless the indemnified parties against, any loss or
damage to property or any injury to or death of any person occurring at or about
the Property, due to any act of negligence or willful misconduct of any person,
other than any act of negligence or willful misconduct on the part of any such
indemnified party or its officers, employees or agents.
B. Except for any willful misrepresentation, any willful misconduct, or
any unlawful act of the indemnified parties, Developer agrees to protect and
defend the indemnified parties, now or forever, and further agrees to hold the
indemnified parties harmless, from any claim, demand, suit, action or other
proceedings or any type or nature whatsoever, by any person or entity
whatsoever that arises or purportedly arises from (1) any violation of any
agreement or condition of this Agreement (except with respect to any suit, action,
demand or other proceeding brought by Developer against the City to enforce its
rights under this Agreement), or (2) the acquisition and condition of the Property
and the construction, installation, ownership, and operation of the Improvements,
or (3) otherwise as a result of or in connection with the Project or Developer's
failure to carry on or complete same.
C. The indemnification obligations under this Section shall include
attorneys' fees and expenses incurred by any indemnified party. The provisions
of this Section shall survive the expiration or termination of this Agreement.
11. Materiality of Developer's Promises, Covenants, Representations,
and Warranties. Each and every promise, covenant, representation, and warranty set
forth in this Agreement on the part of Developer to be performed is a material term of
this Agreement, and each and every such promise, covenant, representation, and
warranty constitutes a material inducement for City to enter this Agreement. Developer
acknowledges that without such promises, covenants, representations, and warranties,
City would not have entered this Agreement. Upon breach of any promise or covenant,
or in the event of the incorrectness or falsity of any representation or warranty, City
may, at its sole option and in addition to any other right or remedy available to it,
terminate this Agreement and declare it null and void.
12. Performance by City. Developer acknowledges and agrees that all of
the obligations of City under this Agreement shall be subject to, and performed by City
in accordance with, all applicable statutory, common law or constitutional provisions and
procedures consistent with City's lawful authority. All covenants, stipulations, promises,
agreements and obligations of City contained in this Agreement shall be deemed to be
the covenants, stipulations, promises, agreements and obligations of City and not of any
governing body member, officer, employee or agent of City in the individual capacity of
such person.
13. No Third-Party Beneficiaries. No rights or privileges of any party hereto
shall inure to the benefit of any contractor, subcontractor, material supplier, or any other
person or entity, and no such contractor, subcontractor, material supplier, or other
7
person or entity shall be deemed to be a third-party beneficiary of any of the provisions
of this Agreement.
14. Notices. Any notice under this Agreement shall be in writing and shall be
delivered in person, by overnight air courier service, by United States registered or
certified mail, postage prepaid, or by facsimile (with an additional copy delivered by one
of the foregoing means), and addressed:
(a) if to City, at 715 Mulberry Street, Waterloo, Iowa 50703, Attention:
Mayor, with copies to the Community Planning and Development Director.
(b) if to Developer, at 2050 Cardinal Drive, Waterloo, Iowa 50701.
Delivery of notice shall be deemed to occur (i) on the date of delivery when delivered in
person, (ii) one (1) business day following deposit for overnight delivery to an overnight
air courier service which guarantees next day delivery, or (iii) three (3) business days
following the date of deposit if mailed by United States registered or certified mail,
postage prepaid. A party may change the address for giving notice by any method set
forth in this Section.
15. No Joint Venture. Nothing in this Agreement shall, or shall be deemed or
construed to, create or constitute any joint venture, partnership, agency, employment, or
any other relationship between the City and Developer nor to create any liability for one
party with respect to the liabilities or obligations of the other party or any other person.
16. Amendment, Modification, and Waiver. No amendment, modification,
or waiver of any condition, provision, or term of this Agreement shall be valid or of any
effect unless made in writing, signed by the party or parties to be bound or by the duly
authorized representative of same, and specifying with particularity the extent and
nature of the amendment, modification, or waiver. Any waiver by any party of any
default by another party shall not affect or impair any rights arising from any subsequent
default.
17. Severability; Reformation. Each provision, section, sentence, clause,
phrase, and word of this Agreement is intended to be severable. If any portion of this
Agreement shall be deemed invalid or unenforceable, whether in whole or in part, the
offending provision or part thereof shall be deemed severed from this Agreement and
the remaining provisions of this Agreement shall not be affected thereby and shall
continue in full force and effect. If, for any reason, a court finds that any portion of this
Agreement is invalid or unenforceable as written, but that by limiting such provision or
portion thereof it would become valid and enforceable, then such provision or portion
thereof shall be deemed to be written, and shall be construed and enforced, as so
limited.
18. Interpretation. This Agreement shall not be construed more strictly
against one party than against the other merely by virtue of the fact that it may have
been prepared by counsel for one of the parties, it being recognized that the parties
8
hereto and their respective attorneys have contributed substantially and materially to the
preparation of each and every provision of this Agreement.
19. Captions. All captions, headings, or titles in the paragraphs or sections of
this Agreement are inserted only as a matter of convenience and/or reference, and they
shall in no way be construed as limiting, extending, or describing either the scope or
intent of this Agreement or of any provisions hereof.
20. Binding Effect. This Agreement shall be binding and shall inure to the
benefit of the parties and their respective successors, assigns, and legal
representatives.
21. Counterparts. This Agreement may be executed in one or more
counterparts, each of which, including signed counterparts delivered by facsimile or
other electronic means, shall be deemed an original and all of which, taken together,
shall constitute one and the same instrument.
22. Entire Agreement. This Agreement, together with the exhibits attached
hereto, constitutes the entire agreement of the parties and supersedes all prior or
contemporaneous negotiations, discussions, understandings, or agreements, whether
oral or written, with respect to the subject matter hereof.
23. Time of Essence. Time is of the essence of this Agreement.
IN WITNESS WHEREOF, the parties have executed this Development
Agreement by their duly authorized representatives as of the date first set forth above.
CITY OF WATERLOO, IOWA DEVELOPER
B : ii ®._ By: I
Y
David Boesen, Mayor -y.11 Meyers Vi/eld
Attest:
elley F I le, City Clerk
9
EXHIBIT "A"
Property Description
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01252 in the Office of the County Recorder, Black Hawk County, Iowa.
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Preparer: Lexi Schneider, 715 Mulberry Street, Waterloo, IA 50703 (319) 291-4366
After recording, return to Community Planning & Development, 715 Mulberry Street, Waterloo, IA 50703.
DEVELOPMENT AGREEMENT
p This Development Agreement (the "Agreement") is entered into as of
�\ " 1 1 , 2026, by and between Ryan Meyers ("Developer"), and the City of
Waterloo, Iowa ("City").
RECITALS
A. Developer is the owner of real property as identified on Exhibit "A"
attached hereto (the "Property"). Developer is willing and able to finance
and undertake the construction of a new home on the Property and to
make related improvements.
B. City considers infill residential development within the City a benefit to the
community and is willing for the overall good and welfare of the community
to provide financial incentives to encourage that goal. City believes that
such development is in the vital and best interests of the City and in
accordance with the public purposes and provisions of the applicable
State and local laws and requirements under which the Project (defined
below) has been undertaken and is being assisted.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
the parties agree as follows:
1. Phased Improvements by Developer. The parties contemplate that
Developer will develop the Property in phases, each of which is generally described as
follows. Phase 1 shall consist of the construction or development of a twin home to a
finished state, including sidewalk, garage and driveway, and shall be responsible for
removal of all construction debris, proper leveling or shaping of groundscape, and
grassing and/or landscaping (construction and finishing as so described are referred to
collectively as the "Improvements"). Phase II shall consist of the construction or
development of a twin home to a finished state, including sidewalk, garage and
driveway, and shall be responsible for removal of all construction debris, proper leveling
or shaping of groundscape, and grassing and/or landscaping (construction and finishing
as so described are referred to collectively as the "Improvements"). The construction
and/or development as described above are collectively referred to as the
"Improvements" or the "Project". The Improvements relating to each separate Phase will
be referred to as "Phase 1 Improvements" and/or "Phase 2 Improvements," as is
applicable.
Developer agrees that the Improvements shall be constructed in accordance with
the terms of this Agreement, all applicable City, state, and federal building codes and
shall comply with all applicable City ordinances and other applicable law. Developer
has submitted specific plans, building designs and site plans for City review and
approval before the commencement of construction and shall not substantially deviate
from such plans, specifications or designs as depicted in Exhibit "B" attached hereto.
Developer has used its best efforts to obtain, or cause to be obtained, in a timely
manner, all required permits, licenses and approvals, and will meet, in a timely manner,
all requirements of all applicable local, state, and federal laws and regulations which
must be obtained or met before the Improvements may be lawfully constructed. The
Property, the Improvements, and all site preparation and development -related work to
be undertaken and completed by Developer under this Agreement are collectively
referred to as the "Project."
2. Timeliness of Construction; Possibility of Termination. The parties
agree that Developer's commitment to cause the Project to be undertaken and to
construct the Improvements in a timely manner constitutes a material inducement for
the City to extend the incentives provided for in this Agreement, and that without said
commitment City would not do so.
A. Deadlines to commence and complete. Subject to Unavoidable
Delays (defined below), Developer has obtained a building permit for Phase 1
Improvements and must Substantially Complete construction of the Phase 1
Improvements within 8 months after the date of this Agreement (the "Completion
Deadline"). With respect to Phase 2 Improvements, Developer must obtain
necessary permits and Begin Construction of the Phase 2 Improvements within
four months of Substantial Completion of the Phase 1 Improvements and must
Substantially Complete the Phase 2 Improvements within 14 months thereafter.
For purposes of this Agreement, "Begin Construction" shall mean the
mobilization and entry by the Company's general contractor on the Property to
start construction of the Project pursuant to the construction contract executed
between the Company and the general contractor, and "Substantially Complete"
shall mean the date on which the phase Improvements have been completed to
the extent necessary for the City to issue a certificate of occupancy relating
thereto and the City has verified that any Project element for which no permit was
necessary has been completed to City's reasonable satisfaction. The City's
Community Planning and Development Director may, but shall not be required to,
consent to an extension of time of up to six (6) months for the construction of the
2
Improvements. Any additional or longer time extensions will require consent of
the City Council.
B. Events triggering termination. If Developer does not Substantially
Complete construction of the Improvements on the schedule(s) stated above,
subject to Unavoidable Delays, then City may terminate this Agreement as set
forth in Section 9, and City shall then have no further obligation to Developer
under this Agreement. If development has commenced within the required
period, as the same may be extended, and is subsequently stopped or delayed
as a result of an act of God, war, civil disturbance, court order, labor dispute, fire,
or other cause beyond the reasonable control of Developer (each an
"Unavoidable Delay"), the requirement that construction be completed by the
Completion Deadline shall be tolled for a period of time equal to the period of
Unavoidable Delay. As promptly as possible, Developer shall notify City in
writing of the occurrence of any Unavoidable Delay and shall again notify City in
writing when the Unavoidable Delay has ended. If City terminates this
Agreement as provided in Section 9, City shall have no further obligations to
Developer under this Agreement, including but not limited to any legal or
equitable obligation to reimburse Developer for any costs expended by
Developer with respect to the Project. In connection with termination of the
Agreement as set forth herein, City may demand reimbursement of any sums
paid to or for the benefit of Developer in connection with the Project, in addition
to exercising any other available remedies.
3. Utilities. Developer will be responsible for extending water, sewer,
telephone, telecommunications, electricity, gas and other utility services from street right
of way to any location on the Property and for payment of any associated connection
fees.
4. City Incentives. To aid the Project, City agrees to provide the following
assistance:
A. Infill Housing Grant. As provided in the City's infill housing policy,
City will pay Developer a grant of $5,000.00 per unit for a maximum of $10,000
total for Phase 1 Improvements and $10,000 for Phase 2 Improvements within
thirty (30) days after Developer has Substantially Completed the Improvements
and has obtained a Certificate of Occupancy for the Project.
5. Additional Covenants of Developer. In addition to the other promises,
covenants and agreements of Developer as provided elsewhere in this Agreement,
Developer agrees as follows:
A. Until the Improvements have been Substantially Completed,
Developer shall make such reports to City, in such detail and at such times as
may be reasonably requested by City, as to the actual progress of Developer
with respect to construction of the Improvements.
3
B. Developer will comply with all applicable land development laws
and City and county ordinances, and all laws, rules and regulations relating to its
businesses, other than laws, rules and regulations where the failure to comply
with the same, or where the sanctions and penalties resulting therefrom, would
not have a material adverse effect on the business, property, operations, or
condition, financial or otherwise, of Developer.
C. Developer will cooperate fully with the City in resolution of any
traffic, parking, trash removal or public safety problems which may arise in
connection with the construction and operation of the Improvements.
D. Developer agrees during construction of the Improvements to
maintain, as applicable, builder's risk, property damage, and liability insurance
coverages with respect to the Improvements in such amounts as are customarily
carried by like companies engaged in activities of comparable size and liability
exposure, and shall provide evidence of such coverages to the City upon
request.
6. Representations and Warranties of City. City hereby represents and
warrants as follows:
A. City is not prohibited from consummating the transaction
contemplated in this Agreement by any law, regulation, agreement, instrument,
restriction, order or judgment.
B. Each person who executes and delivers this Agreement and all
documents to be delivered hereunder is and shall be authorized to do so on
behalf of City.
7. Representations and Warranties of Developer. Developer hereby
represents and warrants as follows:
A. It is duly organized, validly existing, and in good standing under the
laws of the state of its organization and is duly qualified and in good standing
under the laws of the State of Iowa.
B. It has all requisite power and authority to own and operate its
properties, to carry on its business as now conducted and as presently proposed
to be conducted, and to enter into and perform its obligations under this
Agreement.
C. This Agreement has been duly and validly authorized, executed
and delivered by Developer and, assuming due authorization, execution and
delivery by the other parties hereto, is in full force and effect and is a valid and
legally binding instrument of Developer that is enforceable in accordance with its
4
terms, except as the same may be limited by bankruptcy, insolvency,
reorganization or other laws relating to or affecting creditors' rights generally.
D. The execution and delivery of this Agreement, the consummation of
the transactions contemplated hereby, and the fulfillment of or compliance with
the terms and conditions of this Agreement are not prevented by, limited by, in
conflict with, or result in a violation or breach of, the terms, conditions or
provisions of the articles of organization or operating agreement of Developer or
of any contractual restriction, evidence of indebtedness, agreement or instrument
of whatever nature to which Developer is now a party or by which it or its
property is bound, nor do they constitute a default under any of the foregoing.
E. There are no actions, suits or proceedings pending or threatened
against or affecting Developer in any court or before any arbitrator or before or by
any governmental body in which there is a reasonable possibility of an adverse
decision which could materially adversely affect the business (present or
prospective), financial position, or results of operations of Developer or which in
any manner raises any questions affecting the validity of the Agreement or
Developer's ability to perform its obligations under this Agreement.
8. Default. The following shall be "Events of Default" under this Agreement,
and the term "Event of Default" shall mean any one or more of the following events that
continues beyond any applicable cure periods:
A. Failure by Developer to cause the Improvements to be commenced
and completed pursuant to the terms, conditions and limitations of this
Agreement;
B. Transfer by Developer of any interest (either directly or indirectly) in
the Improvements, the Property, or this Agreement, without the prior written
consent of City, except as expressly authorized by this Agreement;
C. Failure by any party hereto to substantially observe or perform any
covenant, condition, obligation or agreement on its part to be observed or
performed under this Agreement;
D. Developer (1) files any petition in bankruptcy or for any
reorganization, arrangement, composition, readjustment, liquidation, dissolution,
or similar relief under the federal bankruptcy law or any similar state law; (2)
makes an assignment for the benefit of its creditors; (3) admits in writing its
inability to pay its debts generally as they become due; (4) is adjudicated a
bankrupt or insolvent; or if a petition or answer proposing the adjudication of
Developer as a bankrupt or its reorganization under any present or future federal
bankruptcy act or any similar federal or state law shall be filed in any court and
such petition or answer shall not be discharged or denied within ninety (90) days
after the filing thereof; or a receiver, trustee or liquidator of Developer, or part
5
thereof, shall be appointed in any proceedings brought against Developer and
shall not be discharged within ninety (90) days after such appointment, or if
Developer shall consent to or acquiesce in such appointment; or (5) defaults
under any mortgage applicable to the Property; or
E. Any representation or warranty made by Developer in this
Agreement, or made by Developer in any written statement or certificate
furnished by Developer pursuant to this Agreement, shall prove to have been
incorrect, incomplete or misleading in any material respect on or as of the date of
the issuance or making thereof.
9. Remedies.
A. Default by Developer. Whenever any Event of Default in respect of
Developer occurs and is continuing, the City may terminate this Agreement.
Before exercising such remedy, City shall give 30 days' written notice to
Developer of the Event of Default, provided that by the conclusion of such period
the Event of Default shall not have been cured, or the Event of Default cannot
reasonably be cured within 30 days and Developer shall not have provided
assurances reasonably satisfactory to the City that the Event of Default will be
cured as soon as reasonably possible. Upon termination, City may exercise any
and all remedies available at law, equity, contract or otherwise for recovery of
any sums paid by City to Developer before the date of termination.
B. Default by City. Whenever any Event of Default in respect of City
occurs and is continuing, Developer may take such action against City to require
it to specifically perform its obligations hereunder. Before exercising such
remedy, Developer shall give 30 days' written notice to City of the Event of
Default, provided that by the conclusion of such period the Event of Default shall
not have been cured, or if the Event of Default cannot reasonably be cured within
30 days and City shall not have provided assurances reasonably satisfactory to
the Developer that the Event of Default will be cured as soon as reasonably
possible.
C. Remedies under this Agreement shall be cumulative and in addition
to any other right or remedy given under this Agreement or existing at law or in
equity or by statute. Waiver as to any particular default, or delay or omission in
exercising any right or power accruing upon any default, shall not be construed
as a waiver of any other or any subsequent default and shall not impair any such
right or power.
10. Indemnification and Releases.
A. Developer hereby releases City, its elected officials, officers,
employees, and agents (collectively, the "indemnified parties") from, covenants
and agrees that the indemnified parties shall not be liable for, and agrees to
6
indemnify, defend and hold harmless the indemnified parties against, any loss or
damage to property or any injury to or death of any person occurring at or about
the Property, due to any act of negligence or willful misconduct of any person,
other than any act of negligence or willful misconduct on the part of any such
indemnified party or its officers, employees or agents.
B. Except for any willful misrepresentation, any willful misconduct, or
any unlawful act of the indemnified parties, Developer agrees to protect and
defend the indemnified parties, now or forever, and further agrees to hold the
indemnified parties harmless, from any claim, demand, suit, action or other
proceedings or any type or nature whatsoever, by any person or entity
whatsoever that arises or purportedly arises from (1) any violation of any
agreement or condition of this Agreement (except with respect to any suit, action,
demand or other proceeding brought by Developer against the City to enforce its
rights under this Agreement), or (2) the acquisition and condition of the Property
and the construction, installation, ownership, and operation of the Improvements,
or (3) otherwise as a result of or in connection with the Project or Developer's
failure to carry on or complete same.
C. The indemnification obligations under this Section shall include
attorneys' fees and expenses incurred by any indemnified party. The provisions
of this Section shall survive the expiration or termination of this Agreement.
11. Materiality of Developer's Promises, Covenants, Representations,
and Warranties. Each and every promise, covenant, representation, and warranty set
forth in this Agreement on the part of Developer to be performed is a material term of
this Agreement, and each and every such promise, covenant, representation, and
warranty constitutes a material inducement for City to enter this Agreement. Developer
acknowledges that without such promises, covenants, representations, and warranties,
City would not have entered this Agreement. Upon breach of any promise or covenant,
or in the event of the incorrectness or falsity of any representation or warranty, City
may, at its sole option and in addition to any other right or remedy available to it,
terminate this Agreement and declare it null and void.
12. Performance by City. Developer acknowledges and agrees that all of
the obligations of City under this Agreement shall be subject to, and performed by City
in accordance with, all applicable statutory, common law or constitutional provisions and
procedures consistent with City's lawful authority. All covenants, stipulations, promises,
agreements and obligations of City contained in this Agreement shall be deemed to be
the covenants, stipulations, promises, agreements and obligations of City and not of any
governing body member, officer, employee or agent of City in the individual capacity of
such person.
13. No Third -Party Beneficiaries. No rights or privileges of any party hereto
shall inure to the benefit of any contractor, subcontractor, material supplier, or any other
person or entity, and no such contractor, subcontractor, material supplier, or other
7
person or entity shall be deemed to be a third -party beneficiary of any of the provisions
of this Agreement.
14. Notices. Any notice under this Agreement shall be in writing and shall be
delivered in person, by overnight air courier service, by United States registered or
certified mail, postage prepaid, or by facsimile (with an additional copy delivered by one
of the foregoing means), and addressed:
(a) if to City, at 715 Mulberry Street, Waterloo, Iowa 50703, Attention:
Mayor, with copies to the Community Planning and Development Director.
(b) if to Developer, at 2050 Cardinal Drive, Waterloo, Iowa 50701.
Delivery of notice shall be deemed to occur (i) on the date of delivery when delivered in
person, (ii) one (1) business day following deposit for overnight delivery to an overnight
air courier service which guarantees next day delivery, or (iii) three (3) business days
following the date of deposit if mailed by United States registered or certified mail,
postage prepaid. A party may change the address for giving notice by any method set
forth in this Section.
15. No Joint Venture. Nothing in this Agreement shall, or shall be deemed or
construed to, create or constitute any joint venture, partnership, agency, employment, or
any other relationship between the City and Developer nor to create any liability for one
party with respect to the liabilities or obligations of the other party or any other person.
16. Amendment, Modification, and Waiver. No amendment, modification,
or waiver of any condition, provision, or term of this Agreement shall be valid or of any
effect unless made in writing, signed by the party or parties to be bound or by the duly
authorized representative of same, and specifying with particularity the extent and
nature of the amendment, modification, or waiver. Any waiver by any party of any
default by another party shall not affect or impair any rights arising from any subsequent
default.
17. Severability; Reformation. Each provision, section, sentence, clause,
phrase, and word of this Agreement is intended to be severable. If any portion of this
Agreement shall be deemed invalid or unenforceable, whether in whole or in part, the
offending provision or part thereof shall be deemed severed from this Agreement and
the remaining provisions of this Agreement shall not be affected thereby and shall
continue in full force and effect. If, for any reason, a court finds that any portion of this
Agreement is invalid or unenforceable as written, but that by limiting such provision or
portion thereof it would become valid and enforceable, then such provision or portion
thereof shall be deemed to be written, and shall be construed and enforced, as so
limited.
18. Interpretation. This Agreement shall not be construed more strictly
against one party than against the other merely by virtue of the fact that it may have
been prepared by counsel for one of the parties, it being recognized that the parties
8
hereto and their respective attorneys have contributed substantially and materially to the
preparation of each and every provision of this Agreement.
19. Captions. All captions, headings, or titles in the paragraphs or sections of
this Agreement are inserted only as a matter of convenience and/or reference, and they
shall in no way be construed as limiting, extending, or describing either the scope or
intent of this Agreement or of any provisions hereof.
20. Binding Effect. This Agreement shall be binding and shall inure to the
benefit of the parties and their respective successors, assigns, and legal
representatives.
21. Counterparts. This Agreement may be executed in one or more
counterparts, each of which, including signed counterparts delivered by facsimile or
other electronic means, shall be deemed an original and all of which, taken together,
shall constitute one and the same instrument.
22. Entire Agreement. This Agreement, together with the exhibits attached
hereto, constitutes the entire agreement of the parties and supersedes all prior or
contemporaneous negotiations, discussions, understandings, or agreements, whether
oral or written, with respect to the subject matter hereof.
23. Time of Essence. Time is of the essence of this Agreement.
IN WITNESS WHEREOF, the parties have executed this Development
Agreement by their duly authorized representatives as of the date first set forth above.
CITY OF WATERLOO, IOWA
By: A4.-itexis------
DEVELOPER
By:
David Boesen, Mayor Meyers
Attest:
elley Fes' le, City Clerk
9
EXHIBIT "A"
Property Description
Parcel "M" and "N" as described in the Plat of Survey recorded as Document Number 2026-
01252 in the Office of the County Recorder, Black Hawk County, Iowa.
r.rminer ,ot or construction
RYAN MEYERS
DUPLEX
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PLAT FOR PERMIT APPLICATION PERMIT APPLICATION FOR : CITANA ec fit) COUNTY 1 te,wyN
PERMIT # :
NAME: Rn M P(G ia e`t
Ct
I�i N�
ADDRESS• G
LEGAL DESCRIPTION :
APPROVALS
FOR OFFICE USE ONLY
Zoning
Lot Dimensions'
Lot Area '
35% Max
30% Rear
Density •
Use'
Front Yard (average)
Side Yard '
Rear Yard '
Accessory Bldg Attatched (sq 8) :
_._
Accessory Bldg Detatched (sq ft) '
6% or 850 sq ft
Siding Material :
Easements:
Bldg. Height•
Flood Plan?
Hist. Significance ?
Hwy Corr./Main 3-I 9
Fill Brought in or Removed 9'
If Removed. where to ? :
Commercial Site Plan : Altach Comm. Sheet Sign-oll
Legal nonconforming 9
CURA/EZ?
PLANNING DEPT.
CSR Site Approval ?
Sidewalks :
Dfveways•
Waiver Grade Required ?
Street / Alley Access :
(Both Allowable .4 Street Access is Existing)
Corner Lol - Handicap Ramps Rec{d :
2nd Access by City Engineer Approval Only
ENGINEERING DEPT
1 y,
R �1 — SCALE : i' = . l
rjti
1-800-29z 8989
a.tl8otlee ..r.r.e for le -.tit, ..A.. r ..•d