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HomeMy WebLinkAboutFriends of Faith Retirement Homes, Inc. - Amendment to Business Property Lease - 9/8/2026 AMENDMENT TO BUSINESS PROPERTY LEASE This Amendment to Business Property Lease ("Amendment") is made and entered into as of . , 2026, by and between the City of Waterloo, Iowa, an Iowa municipal corporation ("Landlord"), and Friends of Faith Retirement Homes, Inc., an Iowa nonprofit corporation ("Tenant"). RECITALS A. Pursuant to the provisions of that certain Business Property Lease dated August 3, 2021 (the "Lease") between Landlord and Tenant, Tenant leases from Landlord the real property located at the western portion of Bontrager Park in Waterloo, Iowa, as set forth on Exhibit"A" attached to the Lease (the "Premises"). B. The Lease contains a provision, Section 21, that relates to, inter alia, Tenant's construction of a parking lot and pickleball courts on the Premises (the "Project"). C. Tenant has requested, and Landlord consents to, amendment of the terms contained in Section 21 related to the Project, and the parties desire to enter into this Amendment for the purpose of amending the terms contained in Section 21 of the Lease, all as more particularly set forth herein. D. All references to the Lease shall mean the Lease, as amended,whether or not such reference shall expressly refer to such amendment. Unless otherwise provided herein, all capitalized words and terms used herein shall have the same meanings ascribed to such words and terms as in the Lease. AGREEMENT NOW THEREFORE, for and in consideration of the mutual covenants and agreements set forth in this Amendment,and other good and valuable consideration,the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows: 1. Recitals. The above recitals are true and correct and are incorporated into this Amendment. 2. Amendment to Section 21. Section 21 of the Lease is deleted and replaced by Section 21 attached hereto as Exhibit A. 3. No Other Modifications. Except as otherwise expressly provided in this Amendment, all provisions of the Lease remain in full force and effect and are not modified by this Amendment, and the parties hereby ratify and confirm each and every provision thereof. 4. Entire Agreement. This Amendment contains the entire agreement of the parties and all preliminary negotiations are merged into and incorporated in this Amendment, and all prior documents and correspondence between the parties are superseded and of no further force and effect other than the Lease. 5. Severability. If any provision of this Amendment is held invalid, unenforceable or void, the remainder of this Amendment shall not be affected thereby and shall continue in full force and effect. In the event of a conflict or inconsistency between the provisions of this Amendment and the provisions of the Lease, the provisions of this Amendment shall govern and control to the extent of any such conflict or inconsistency. [Signature pages follow.] 1 IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment to Business Property Lease as of the date first above written. LANDLORD: City of Waterloo, Iowa By: 14140-0----- David Boesen, Mayor Attest: f< Kelley Felc , City Clerk STATE OF IOWA )ss. BLACK HAWK COUNTY ) On _�,t .4,: .� ;;.;<<:.. ` 1 , 2026, before me, the undersigned, a Notary Public in and for the State of Iowa, personally appeared David Boesen and Kelley Felchle, to me personally known, and who, being by me duly sworn, did say that they are the Mayor and City Clerk, respectively, of the City of Waterloo, Iowa; that the seal affixed to the foregoing instrument is the corporate seal of the corporation, and that the instrument was signed and sealed on behalf of the corporation by authority of its City Council as contained in the Resolution adopted by the City Council, under Council Action No. .2-0 . to —`tcd`1 of the City Council on ✓ , 2026, and that David Boesen and Kelley Felchle acknowledged the execution of the instrument to be their voluntary act and deed and the voluntary act and deed of the corporation, by it voluntarily executed. + NgNCY ANNE Ht c'A MION NO Notary Public ION 1 aw► 2 • :zy' TENANT: Friends of Faith Retirement Homes, Inc. By: JC -/ /CUu=uA Sherry Turner,ifs President/CEO ` r� SALLY ADAMS COMMISSION NO.799640 MY1COMMJSSIQNGEX� ES STATE OF IOWA ) �.' Wit/ ��tt )ss. BLACK HAWK COUNTY ) Acknowledged before me on August 1 17 ,2026 by Sherry Turner as President/CEO of Friends of Faith Retirement Homes, Inc. --:-V t WI' L 21-/j-4-2`a Notary Public 3 Exhibit "A" 21. OTHER PROVISIONS. (a) Either party may record this Lease or a memorandum hereof at any time. (b) Tenant shall, at its own cost and expense, undertake all work of site preparation and construction necessary to excavate a stormwater detention facility and construct a paved, approximately 23-stall parking lot and up to three pickleball courts on the premises, together with such lighting, fencing, landscaping and other improvements as Tenant may desire, subject to the provisions of this paragraph. Tenant shall submit specific designs and site plans for review and approval by the Waterloo Leisure Services Director and City Engineer before the commencement of construction. The initial site plan is attached hereto as Exhibit"B"for purposes of illustration but may be modified upon mutual consent of the parties. Tenant will use 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. All improvements shall be constructed in accordance with all applicable building codes and shall comply with all applicable city ordinances and other applicable law. Any future replacements or alterations to the improved premises shall be subject to Tenant's compliance with the provisions of this paragraph that are applicable to original construction. (c) The parking lot to be constructed by Tenant shall avoid an existing paved area of eleven (11) parking spaces on the northwest side of the premises. Pursuant to prior agreement between Landlord and the owner of the abutting property (currently DEC Real Estate LC), the abutting owner has the right to use such spaces for its business purposes. Tenant agrees not to interfere with such right of use or direct access thereto from the abutting owner's property. (d) [Intentionally deleted.] (e) Tenant shall be solely responsible for all repair, maintenance and upkeep of the premises and improvements thereon, including but not limited to snow removal, mowing, and weed control. As an alternative to remedies under Section 16, Landlord may, if Tenant fails to repair and maintain the improvements, terminate this Lease if Tenant does not provide to Landlord, within thirty (30)days after delivery of written notice to Tenant, a plan to complete repairs and/or maintenance according to plans and on a time table reasonably acceptable to Landlord. Tenant shall be further responsible for litter control in and around the premises, including but not limited to areas within 50 feet of the premises on any street, sidewalk, or other publicly owned area. Litter shall be picked up no less than weekly, but shall be done as often as required to maintain the premises and surrounding areas in clean condition. Tenant shall be solely responsible for any utility costs relating to the premises. (f) The parking lot, pickleball courts, and other Tenant improvements shall be available for use by the general public at all times during normal operating hours, except: (i)Tenant's residents, guests and staff will have priority on two of the three pickleball courts between 9:00 AM and noon each day; and (ii)Tenant may reserve the facilities for up to four daily special events per year. Tenant's proposed closure of the facilities for special events, whether in whole or in part or whether in accordance with a regular schedule or otherwise, shall be subject to advance approval by the Waterloo Leisure Services Director or successor, which shall not be unreasonably withheld. Tenant may post reasonable regulations regarding use of the premises. Tenant shall provide, at its own cost and expense, any security that Tenant considers necessary or advisable for the protection of Tenant's residents, their guests, and any of their vehicles. (g) Unless otherwise agreed, any improvements made by Tenant during the Lease term shall become the sole property of Landlord at the expiration of this Lease, without compensation for same to Tenant.