HomeMy WebLinkAboutHabitat_for_Humanity_-_1st_amend_to_DA_(212_Oaklawn)_3162026Docusign Envelope ID: 12605196-EA79-41 A2-BF57-8561 E33BEF13
Prepared by: Austin J. McMahon, Lange & McMahon, PLC, 222 1st St. E., Independence, IA 50644 (319-334-4488)
FIRST AMENDMENT TO DEVELOPMENT AGREEMENT
This Amendment to Development Agreement (the "Amendment") is entered into as of
March 16 , 2026, by and between the City of Waterloo, Iowa ("City") and Iowa Heartland
Habitat for Humanity ("Company").
RECITALS
A. Company and City are parties to that certain Development Agreement dated
October 20, 2025 (the "Agreement") concerning the development of property as described in the
Agreement. The Agreement was filed in the records of the Black Hawk County Recorder on
November 26, 2025, as Doc. No. 2025-17491.
B. The parties desire to amend the Agreement 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. Paragraph A of the Recitals is hereby stricken in its entirety and substituted with an
amended Paragraph A as follows:
A. Company is the owner of, certain real property that is identified on Exhibit "A"
attached hereto (the "Property"). Company is willing and able to finance and undertake
new residential construction and/or development on the Property and to make related
improvements ("Improvements" or "Project").Company is willing and agrees, to
demolish structures, foundations, cement pads, sidewalks (except public sidewalks)
and other improved features on the Property, and further agrees to remove all debris,
bring fill as needed, and level the sites to grade.
2. Paragraph B of the Section 4 is hereby stricken in its entirety and substituted with
an amended Paragraph B as follows:
Docusign Envelope ID: 12605196-EA79-41 A2-BF57-8561 E33BEF13
B. Demolition. City is willing and able to reimburse up to but not exceeding
$15,000.00 of the actual costs of demolition and removal and up to $13,478.00
of the actual costs of asbestos abatement that is incurred for a total
reimbursement of up to $28,478.00.
3. Except as amended herein, the Agreement 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 First Amendment to
Development Agreement as of the date first set forth above.
Iowa Heartland Habitat for Humanity CITY OF WATERLOO, IOWA
Signed by:
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Signed by:
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