Amendment Hwy 151 Devel,~
AMENDMENT N0.2 TO DEVELOPMENT AGREEMENT
BETWEEN
THE CITY OF DUBUQUE, IOWA
AND
HWY 151 & 61 DEVELOPMENT, LLC
This Amendment No. 2 ("Amendment No. 2") to Development Agreement between the City of
Du uque, I,~wa and Hwy 151 & 61 Development, LLC is entered into effective the %s°~~'' day of
~~'lf,C~ , 2007, by and between the City of Dubuque, Iowa, a municipality ("City"),established
pursuant to the Iowa- Code and acting under authorization of Iowa Code Chapter 403, as amended
("Urban Renewal Act"), and Hwy 151 & 61 Development, LLC, an Iowa limited liability company
("Developer")with its principal place of business at Dubuque, Iowa.
Recitals
A. City and Developer entered into that certain Development Agreement dated for reference
purposes as June 5, 2006 with respect to the former Smithfield real estate site, which was amended by
Amendment No. 1 thereto. This Amendment No. 2 supercedes Amendment No. 1;
B. The parties desire to amend the Development Agreement as provided herein.
Therefore, for good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties do hereby agree as follows:
1. Amendment of Section 3.3 (Acquisition by City of Bee Branch Real Estate). Section 3.3
is hereby amended by deleting the date "November 30, 2006" from each place it appears in this section
and replacing it with."June 30, 2007."
2. The parties acknowledge that Exhibit D to the Development Agreement (i.e., the Offer
to Buy Real Estate and Acceptance with respect to the City's acquisition of 3.3 acres, more or less, for
realigned Bee Branch storm sewer) shall have a closing date (if at all, as provided in such Offer) of July
15, 2007.
3. Aii other ternis, conditions and provisions of the Development Agreement shah remain
in full force and effect and are hereby ratified and confirmed by the parties hereto.
IN WITNESS WHEREOF, the undersigned have executed and delivered the foregoing
Amendment No. 2 as of the date and year first above written.
CITY OFD QUE, IO A HIGHWAY. 15 & 61 DEVELOPMENT, LLC
By ~ .~ BY
Roy D. Bu ,Mayor Wayne A. ggs,
F. Schneider, City Clerk
G:\WPDOCS\Sandy\BradlHwy 151 City Development A~,+reement Amendment No. 2.wpd