HomeMy WebLinkAboutAvita Developments - Amend to Dev Agmnt-1/3/2017Prepared by Christopher S. Wendland, P.O. Box 596, Waterloo, IA 50703. 319-234-5701
AMENDMENT TO DEVELOPMENT AGREEMENT
This Amendment to Development Agreement (the "Amendment") is entered into as of
(kr)�2, [,--1 by and between the City of Waterloo, Iowa ("City") and Avita
Developmdnts, t_LC ("Company").
RECITALS
A. Company and City are parties to that certain Development Agreement dated June
11, 2012 (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 September 24, 2012 as Doc. No. 2013-6066.
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. The caption of Section 3 is modified to strike the words "Possibility of Reverter"
therefrom, which were included in error.
2. Section 7 is hereby stricken in its entirety, and the following text is substituted in
place thereof: "Section 7. Reserved." The parties will enter into a separate agreement to
provide further incentives for the Project.
3. Except as modified herein, the Agreement shall continue unmodified in full force
and effect. Capitalized terms used herein that are not defined in this Amendment shall have the
meaning attributed to them in the Agreement. The Agreement 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 by their duly authorized representatives as of the date first set forth above.
AVITA DEVELOPMENTS, LLC
By:
Kalyana(
CITY OF WATERLOO, IOWA
By:
undaram, Manager Quentin Hart, Mayor
2
Attest: /Kelley Felc
, City Clerk