HomeMy WebLinkAbout3 Little Lambs-Amdnt to Dev Agmnt-9/26/2016Preparer
mormalmn: Christopher S. Wendland, PO Box 596, Waterloo, Iowa 50704 (319) 234.5701
Name Address City Phone
SPACE ABOVE THIS LINE
FOR RECORDER
AMENDMENT TO DEVELOPMENT AGREEMENT
AND AMENDMENT TO MINIMUM ASSESSMENT AGREEMENT
This Amendment to Development Agreement and Amendment to Minimum
Assessment Agreement (the "Amendment') is entered into as of Se e ��, 2 ,
2016 by and between 3 Little Lambs, LLC (the "Company") and the City of Waterloo,
Iowa (the "City').
RECITALS
A. Company and City are parties to that certain Development Agreement
dated April 20, 2015, as previously amended on or about May 16, 2016
(collectively, the "DA"), concerning the development of land (the
"Property") described on Exhibit "A" to the DA. Company and City are
also parties to that certain Minimum Assessment Agreement, as
previously amended on or about May 16, 2016 (collectively, the "MAA")
pertaining to the Property, dated as of the same date. The DA and MAA
have been filed in the land records of Black Hawk County, Iowa, as Doc.
No. 2015-19741. The May 2016 amendments to the DA and MAA have
not yet been recorded.
B. The parties desire to further amend the DA and the MAA to modify the
terms thereof as set forth in this Amendment.
NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
the parties agree as follows:
1. Section 3 of the DA and Section 1 of the MAA are hereby amended to
strike "December 31, 2016" therefrom and to substitute "December 31, 2017" in its
place as the Project completion date.
2. Except as modified herein, the DA and MAA 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 or MAA, as
applicable. The DA, MAA, and this Amendment shall inure to the benefit of and be
binding upon the parties and their respective successors and assigns.
IN WITNESS WHEREOF, the parties have executed this Amendment to
Development Agreement and Amendment to Minimum Assessment Agreement by their
duly authorized representatives as of the date first set forth above.
CITY OF WATERLOO, IOWA
By:
Quentin Hart, Mayor
Attest: �.
City CI rk / Deputy Clerk
3 LITTLE LAMBS, LLC
By: 74—= —S-4
Jo than Brundrett
Managing Member