I-2 - Resolution 2023-049 - Approving an Amendment o the Developer's Agreement for Park Place - Parts One & Two

AMENDMENT TO DEVELOPMENT AGREEMENT PARK PLACE – PARTS ONE AND TWO This Amendment (the “Amendment”) is made as of the ___ day of July, 2023 (the “Effective Date”), by and among the City of Tiffin, Iowa, a municipal corporation (the “City”), and QS Development, Inc., an Iowa corporation (“Developer”) WITNESSETH: WHEREAS, the City and Developer are parties to a development agreement for a proposed subdivision to be known as Park Place – Part One Tiffin, Iowa and Park Place – Part Two Tiffin, Iowa recorded December 06, 2017 in Book 5732, Page 135 of the records of the Johnson County, Iowa Recorder (the “Development Agreement”); and WHEREAS, the City and Developer desire to amend the Development Agreement as contained herein. NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and other valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 1. Section 3(C)(4)(a) of the Development Agreement is deleted in its entirety and replaced as follows: “a. A sidewalk must be constructed along Rock Ridge Road between Lots 47 and 48 as shown on the plat. This duty to install a sidewalk shall be a lien on Lots 47 and 48 of the subdivision until released by the City” 2. Section 3(C)(4)(e) of the Development Agreement is deleted in its entirety and shall no longer be of any force or effect. 3. Except as amended herein, all other terms and provisions of the Development Agreement, and exhibits thereto, shall remain in full force and effect. [SIGNATURES ON THE FOLLOWING PAGE]