HomeMy WebLinkAboutEIC_Enterprises_LLC_-(RECORDED) Amendment_to_DA_-_8.3.2026 Docusyn Envelope ID:82EA815F-3F74-82AC-83EC-E8B23831 F093 2026-13513
RECORDED:09/04/2026 02:28:44 PM
RECORDING FEE:$12.00
REVENUE TAX:$
COMBINED FEE:$12.00
SANDIE L.SMITH,RECORDER
BLACK HAWK COUNTY,IOWA
Prepared:Austin J.McMahon,McMahon Law Office,3356 Kimball Ave,Ste 1000,Waterloo,IA 50702 319-334-4488
Return To:ATTN:Community Planning&Development,City of Waterloo,715 Mulberry Street,Waterloo,IA 50703.
AMENDMENT TO DEVELOPMENT AGREEMENT
This Amendment to Development Agreement(the"Amendment") is entered into
as of :sA. r 2026 by and between EIC Enterprises,LLC(the"Company")and
the City of Waterloo, Iowa(the"City").
RECITALS
A. Company and City are parties to a certain Development Agreement.dated
November 3, 2025, (the"DA"), concerning the development of property as described in
the Agreement, and filed in the land records of Black Hawk County as Doc. No. 2025-
17498.
B. The parties desire to amend the DA to modify the terms as set forth in this
Amendment.
NOW,THEREFORE,in consideration of the mutual covenants set forth herein,
the parties agree as follows:
1. Section 4(A)of the DA is hereby amended to strike"within six(6)months of
the date of this Agreement" and replace it with "by November 1st, 2026"such that the
Moving Deadline is November 1,2026.
2. Section 4(A) of the DA is hereby amended to strike "within fourteen (14)
months of the date of this Agreement"and replace it with"by May 1st, 2027"such that
the Improvements shall be Substantially Complete by May 1st,2027.
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.
Docusign Envelope ID: 82EA815F-3F74-82AC-83EC-E8B23831 F093
Page 2
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 EIC Enterprises, LLC
—Signed by:
y:Oavu4., bac,swt, By:
393E11WeBoesen, Mayor Seth Eng echt,
Managing Member
—Signed by:
Atte t:1 f
remesTlthle, City Clerk
Docusign Envelope ID:B5DOEEFF-A50D-8372-8193-585B17102E38
2026-13512
RECORDED:09/04/2026 02:28:43 PM
RECORDING FEE:$7.00
REVENUE TAX:$
COMBINED FEE:$7.00
SANDIE L.SMITH,RECORDER
BLACK HAWK COUNTY,IOWA
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-431
RESOLUTION APPROVING AN AMENDMENT TO THE
DEVELOPMENT AGREEMENT WITH EIC ENTERPRISES, LLC, TO
EXTEND THE COMPLETION DEADLINE OF THE HOMES ALONG
CHALMERS AVENUE TO OCTOBER 31, 2026, AND AUTHORIZING
THE MAYOR AND CITY CLERK TO EXECUTE SAID DOCUMENT.
WHEREAS, the City of Waterloo, Iowa, and EIC Enterprises, LLC, entered into a
Development Agreement concerning the development and completion of homes along Chalmers
Avenue; and
WHEREAS, EIC Enterprises, LLC, has requested an extension of the completion
deadline for said homes to October 31, 2026; and;
WHEREAS, the City Council finds that approval of the amendment is in the best
interests of the City of Waterloo.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA,
1. That the amendment to the Development Agreement between the City of Waterloo,
Iowa, and EIC Enterprises, LLC, extending the completion deadline for the homes along
Chalmers Avenue to October 31, 2026, is hereby approved.
2. That the Mayor and City Clerk are authorized and directed to execute said documents
on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 3rd day of August 2026.
, —Signed by:
VALiot, 156t,St,it,
—393E8397B3D3421...
ATTEST: David Boesen, Mayor
(—Signed by:
,,
142.sr. /. cr o,L
\ Ann 1 bbl Mr:
9494.
Leeven, Deputy City Clerk
CERTIFICATE
I, LeAnn M. Even, Deputy City Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution No. 2026-431, as passed and adopted by the
Council of the City of Waterloo, Iowa, on August 3, 2026. (—Signed by:
SEAL �j 4t,
•—/bb1U U1 9494..
LeAnn l . Even, Deputy City Clerk
0 W4.
-k �C
5),