J-1 - Developers Agreement Prairie Village Commercial - Part 3

THIS INSTRUMENT PREPARED BY/RETURN TO: Joseph C. Judge, Lane & Waterman LLP, 220 N. Main St. #600, Davenport, IA 52801; (563) 324-3246 DEVELOPER’S AGREEMENT THIS AGREEMENT, made by and between the City of Tiffin, Iowa, a municipal corporation, hereinafter referred to as “City,” and TPV Commercial, LLC, an Iowa limited liability company, hereinafter referred to as “Developer,” and Iowa Development Group, Inc. an Iowa Corporation, hereinafter referred to as “Owner.” Developer will be acquiring the Subdivision from Owner. The obligations under this Agreement shall run with the land. Upon Owner transferring title of the Subdivision, Developer shall assume all of Owner’s obligations under this Agreement and Owner shall be released from any and all liability or obligations under this Agreement. SECTION 1. REQUEST FOR PLAT APPROVAL Developer has requested that the City approve the preliminary plat, attached hereto as Exhibit A and incorporated herein by reference, for a proposed subdivision known as Prairie Village Commercial Part 3(referred to herein as the “plat”) for the following described real estate situated in Tiffin, Johnson County, Iowa, to wit: A PARCEL OF LAND BEING PART OF PARCEL 2021-044 OF THE SOUTHWEST QUARTER OF THE NORTHWEST QUARTER AND OF THE NORTH HALF OF THE SOUTHWEST QUARTER OF SECTION 27, TOWNSHIP 80, RANGE 7 WEST OF THE 5TH P.M., AS RECORDED IN JOHNSON COUNTY RECORDS BOOK 65 PAGE 69, AND PART OF THE AUDITOR'S PARCEL 2018012 OF THE NORTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SAID SECTION 27 AS RECORDED IN JOHNSON COUNTY RECORDS BOOK 61 PAGE 396, ALSO ALL OF LOT 2 AND PART OF LOT 'A' OF PRAIRIE VILLAGE COMMERCIAL DEVELOPMENT PART 1, AN OFFICIAL PLAT AS RECORDED IN JOHNSON COUNTY RECORDS BOOK 62, PAGE 81, AND ALL OF OUTLOT 'Z' OF PRAIRIE VILLAGE COMMERCIAL PLAT DEVELOPMENT PART 2, AN OFFICIAL PLAT AS RECORDED IN JOHNSON COUNTY RECORDS, BOOK 65 PAGE 349, ALL IN AND FORMING A PART OF THE CITY OF TIFFIN, JOHNSON COUNTY, IOWA AND MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHEAST CORNER OF SAID OUTLOT ‘Z’; THENCE ALONG THE SOUTH LINE OF SAID OULOT ‘Z’ ALSO BEING THE NORTHERLY RIGHT OF