Resolutions-2017-006

DocuSign Envelope ID: C66A41 BA- 1 DEA- 4047- A8B7- 405CC4E400A8 RESOLUTION NO. 2017- 006 A RESOLUTION TO APPROVE AMENDMENT TO PINNACLE RIDGE PAD AGREEMENT Whereas, Hochstedler Building & Development LLC had requested and was approved a Planned Area Development called Pinnacle Ridge; and, Whereas, Hochstedler has officially executed a purchase agreement with the seller and has recently closed on the purchase of the real estate; and Whereas, all parties wish to amend the Pinnacle Ridge PAD Agreement to reflect the change in ownership and designation of Developer and to adjust certain dates for performance, Now, therefore be it resolved by the City Council of Tiffin, Iowa, that: 1. By the execution of this Amendment, Pinnacle Ridge Development, LLC, as Owner of the property agrees to assume the responsibilities of the Developer under the Pinnacle Ridge PAD Agreement and Hochstedler consents to the transfer of said development rights and obligations. 2. Construction of the site improvements set forth in Section 3 shall commence by July 1, 2017. 3. Section 12 is amended as follows: All of the site improvements and structures to be constructed pursuant to Section 3 shall be completed by December 31, 2017. 4. In all other respects not inconsistent with the terms of this Amendment, the terms of the Pinnacle Ridge PAD Agreement shall remain in full force and effect. 7th On the day of February 2017, at a regular meeting of the Tiffin City Council, Tiffin, Iowa, Councilperson Havens introduced RESOLUTION NO. 2017- 006, A RESOLUTION TO APPROVE AMENDMENT TO PINNACLE RIDGE PAD AGREEMENT and made a motion for approval. The motion was seconded by Councilperson Ryan. Ayes: Upton, Havens, Ryan, Kahler Nays: None. Absent: Bartels. Whereupon Four Council members were present and voted approval and Mayor Berner declared that RESOLUTION NO. 2017- 006, A RESOLUTION TO APPROVE AMENDMENT TO PINNACLE RIDGE PAD AGREEMENT to be adopted and signified his approval of the same by affixing his signature thereto. 7th Passed by the City Council on the day of February, 2017. City of Tiffin sfwl- Steven L. Berner, Mayor ATTEST: 4- 71 Doug Boldt, City Administrator/ Clerk 1-