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HomeMy WebLinkAboutMcDonalds - Letter of Intent - 5.18.2026Docusign Envelope ID: 4424E839-B3C5-87D6-8168-57EAB6490C3F Letter of Intent m April 20, 2026 RE: BLI: 263966 City, ST: Waterloo, IA Parcels: 891326202015, 891326202002, 891326202020, 891326202019 L/C: 140418 County: Black Hawk This non -binding letter (Letter) sets forth the basic terms for a purchase contract (the "Contract") with respect to the property located in Black Hawk County at the address referenced above. All documents in this transaction (including the Contract) will be prepared on Purchaser's form documents. 1. Purchaser: McDonald's USA, LLC, a Delaware limited liability company or its nominee. 2. Seller: City of Waterloo, Iowa Address: 715 Mulberry St Phone Number: 319-291-4301 E-Mail: mayor@waterloo-ia.org Seller's Federal Tax ID #: amn 5397 3. Premises: Four parcels along Commercial Street in Waterloo, IA totaling approximately 20,538 square feet. Black Hawk County Assessor IDs: 891326202015, 891326202002, 891326202020 and 891326202019 as depicted in Exhibit A. 4. Purchase Price: $173,290 to be finalized through a development agreement with the City of Waterloo, Iowa 5. Earnest Money: Purchaser will deposit $5,000.00 with the title insurance company as escrow agent within 30 days after Contract execution. 6. Restrictive Covenant: • Intentionally omitted. 7. Zoning/Subdivision: Purchaser will obtain any zoning, subdivision, lot split, lot tie or replat approvals as may be necessary, at Purchaser's cost. 8. Contingencies: Purchaser shall have 180-days after the execution of the Contract (the Contingency Period) to review any due diligence reports or matters and to obtain all necessary permits and approvals. Purchaser shall have the right to extend the Contingency Period for 2 period(s) of 30 days. The Contingency Period timing is subject to change within the Contract based on the project schedule provided in Purchaser's site investigation report. 9. Signage: Purchaser will have the right to pursue entitlements to obtain the maximum amount of signage permitted on the Premises. 10. Seller's Work: Intentionally deleted 11. Broker Commission: Seller agrees to pay any real estate agent, broker, finder Name of Broker(s): Dustin Whitehead with Cushman & Wakefield Iowa Commercial Advisors Page 1 of 3 Docusign Envelope ID: 4424E839-B3C5-87D6-8168-57EAB6490C3F Letter of Intent m 12. Scope of this Letter/Non-Binding Effect: The parties agree and understand that this Letter is intended to be, and will be construed only as, an understanding that summarizes the discussions between the parties. This Letter does not constitute a binding agreement, nor does it constitute a binding agreement to enter into an agreement, or an agreement to agree. The rights and obligations of the parties remain to be defined in the Contract. Even if a party changes its financial position or otherwise relies on the subject matter of this Letter, any such reliance will not be construed as the creation of an enforceable contract between the parties. Sincerely, Signed by: ‘s-6AE8BC824BF5440... National Real Estate Manager McDonald's USA, LLC Approved this 18th SELLER: Signed by: By: [—VAkidt bet-suA, 442E,855490... Name: David Boesen Title: Mayor day of May , 20 26. . poration. Page 2 of 3 Docusign Envelope ID: 4424E839-B3C5-87D6-8168-57EAB6490C3F Letter of Intent Exhibit A "Premises" © 2023 McDonald's USA, LLC. All rights reserved. McDonald's is a registered trademark of McDonald's Corporation. Page 3 of 3 Docusign Envelope ID: 4424E839-B3C5-87D6-8168-57EAB6490C3F CITY, STATE: Waterloo, IA PARECL: 891326202015, 891326202002, 891326202020,891326202019 L/C: 140418 LICENSE AGREEMENT FOR SITE INSPECTION 1. GRANT. By entering into this agreement ("Agreement"), the undersigned ("Owner") grants to McDONALD'S USA, LLC, a Delaware limited liability company, its subsidiaries, affiliates, agents, contractors and employees ("McDonald's") a license to enter upon the property described or depicted on Exhibit A attached ("Property") for the purpose of conducting surveys, tests, borings, inspections and analyses ("Site Inspection") of the Property as McDonald's may deem necessary or desirable in its reasonable discretion. McDonald's will conduct any such Site Inspection at McDonald's sole cost and expense. This Agreement will commence upon the execution and expire at 12:00 midnight on 2. INDEMNITY. McDonald's agrees to indemnify, defend and hold Owner harmless from and against any and all direct losses, damages, causes of action, claims, liabilities, cost and expenses (including reasonable attorneys' fees and court costs) ("Claims"), suffered or incurred by Owner as a result of the entry upon the Property or the performance of the Site Inspection by McDonald's, its agents, contractors, employees and licensees, including, without limitation, those Claims arising from mechanics' liens, injury to persons or damage to the Property, including improvements located on the Property. The foregoing will not include, however, any Claim arising out of or in any way related to contaminated media, soil, asbestos or other environmental conditions or hazards encountered on the Property. 3. RESTORATION. In the event that the Site Inspection disturbs any portion of the Property, McDonald's agrees to restore the Property and improvements located on the Property to substantially the same condition. Owner will retain ownership of all soil cuttings and materials removed from the Property in connection with the Site Inspection. 4. SUCCESSORS AND ASSIGNS. This Agreement is binding upon and will inure to the benefit of the heirs, successors and assigns of the parties. 5. AUTHORITY. The Owner warrants to McDonald's that it is the fee owner of the Property and has the full power, right and authority to enter into this Agreement. 6. COUNTERPARTS; ELECTRONIC SIGNATURES. This Agreement may be executed and delivered in any number of counterparts, each of which so executed and delivered will be deemed to be an original and all of which together shall constitute one and the same instrument. The exchange of executed counterparts of this Agreement or of signature pages by electronic transmission shall constitute effective execution and delivery of this Agreement and may be used in lieu of the original for all purposes. This Agreement may be executed through the use of electronic signature, which each party acknowledges is a lawful means of obtaining signatures in the United States. Each party agrees that its electronic signature on this Agreement is the legal equivalent of its manual signature on this Agreement. Each party further agrees that its use of a key pad, mouse or other device to select an item, button, icon or similar act/action to electronically sign this Agreement constitutes its signature ("E-Signature") of this Agreement as if actually signed by such party in writing. Each party also agrees that no certification authority or other third party verification is necessary to validate its E-Signature and that the lack of such certification or third party verification will not in any way affect the enforceability of its E-Signature on this Agreement. [Signatures Follow] License Agreement for Site Inspection Docusign Envelope ID: 4424E839-B3C5-87D6-8168-57EAB6490C3F Executed this 18th day of May , 2026 . OWNER: City of Waterloo Signed by: awd t5ct suA, By: y A74 O re3a.. Name: David Boesen McDONALD'S: McDONALD'S USA, LLC, a Delaware limited liability company ,-Signed by: R000itt By: '- 6AE8BC824BF5440 Name: Dillon Hamman Its: Mayor Its: National Real Estate Manager Docusign Envelope ID: 4424E839-B3C5-87D6-8168-57EAB6490C3F Letter of Intent Exhibit A "Premises" © 2023 McDonald's USA, LLC. All rights reserved. McDonald's is a registered trademark of McDonald's Corporation. Page 3 of 3 docusign. Certificate Of Completion Envelope Id: 8F6B344E-8FFF-8038-8258-8DD9C07B98B5 Subject: Complete with Docusign: McDonald's LOI & LA - City of Waterloo Source Envelope: Document Pages: 6 Signatures: 2 Certificate Pages: 1 Initials: 0 AutoNav: Disabled Envelopeld Stamping: Disabled Time Zone: (UTC-08:00) Pacific Time (US & Canada) Status: Completed - Commercial St, Waterloo - Sell... Envelope Originator: McDonald's USA - Dillon Hamman 2111 McDonalds Dr Oak Brook, IL 60523 dillon.hamman@us.mcd.com IP Address: 165.225.56.249 Record Tracking Status: Original 6/1/2026 1:42:02 PM Holder: McDonald's USA - Dillon Hamman dillon.hamman@us.mcd.com Location: DocuSign Signer Events Signature Timestamp Dillon Hamman dillon.hamman@us.mcd.com National Real Estate Manager McDonalds Security Level: Email, Account Authentication (None) Electronic Record and Signature Disclosure: Not Offered via Docusign p—Signed by: '-6AE8BC824BF5440... Signature Adoption: Pre -selected Style Using IP Address: 165.225.56.249 Sent: 6/1/2026 1:42:30 PM Viewed: 6/1/2026 1:42:38 PM Signed: 6/1/2026 1:43:36 PM Freeform Signing In Person Signer Events Signature Timestamp Editor Delivery Events Status Timestamp Agent Delivery Events Status Timestamp Intermediary Delivery Events Status Timestamp Certified Delivery Events Status Timestamp Carbon Copy Events Status Timestamp Witness Events Signature Timestamp Notary Events Signature Timestamp Envelope Summary Events Status Timestamps Envelope Sent Certified Delivered Signing Complete Completed Hashed/Encrypted Security Checked Security Checked Security Checked 6/1/2026 1:42:30 PM 6/1/2026 1:42:38 PM 6/1/2026 1:43:36 PM 6/1/2026 1:43:36 PM Payment Events Status Timestamps