HomeMy WebLinkAbout2018-2902.05M1L, IIang 0gumwilang,
FIRST AMENDMENT TO
CONTRACT FOR PRIVATE REDEVELOPMENT
THIS AGREEMENT, made as of the 4th day of June, 2018, by and betweenCOLUMBIAHEIGHTSECONOMICDEVELOPMENTAUTHORITY, a public body
corporate and politic (the "Authority"'), established pursuant to Minnesota Statutes, Sections
469.090 to 469.1081 (hereinafter referred to as the "Act") and HY-VEE, INC., all Iowa
corporation (the "Redeveloper").
WITNESSETH:
WHEREAS, the Authority and Redeveloper entered into that certain Contract for Private
Redevelopment dated as of October 24, 2016 (the "Contract"), providing for redevelopment of
certain property (the "Redevelopment Property") located in the City of Columbia Heights (the
City"); and
WHEREAS, the Redeveloper has requested and the Authority has agreed to amend the
Contract to allow for an extension of the dates of commencement and completion of construction
of the Minimum Improvements as further described herein;
NOW, THEREFORE, in consideration of the premises and the mutual obligations of the
parties hereto, each of them does hereby covenant and agree with the other as follows:
1. Amendment of Section 4.3(a) oftl1e Contract. The first two sentences of Section
4.3(a) of the Contract are amended as follows:
a) Subject to Unavoidable Delays, the Rede eloper shall commence construction of the
Minimum Improvements by January 31, 2019. Subject to Unavoidable Delays, the Redeveloper
shall complete the construction of the Minimum Improvements by February 28, 2020.
2. Except as amended by this Amendment, the Contract shall remain in full force
and effect. In accordance with Section 3.5 of the Contract, upon execution of this Amendment,
Redeveloper shall reimburse the Authority for all out-of pocket-costs incurred by the Authority
in connection with negotiating, drafting and approval of this Amendment, to the extent that any
funds deposited in escrow to pay Administrative Costs are not sufficient for their payment.
523684v2 MNI CL205-65
IN WITNESS WHEREOF, the Authority has caused this Amendment to be (July
executed in its name and behalf and its sea] to be hereunto duly affixed and the Redeveloper has
caused this Amendment to be duly executed in its name and behalf on or as of the date first
above written.
COLUMBIA HEIGHTS ECONOMIC
DEVEI,OPMENT AUTHORITY
By_
p4ItsPresirit
L
Its Executive Director
STATE OF MINNESOTA
S&
COUNTY OF ANGOLA
The foregoingeg, instrument was acknowledged before me this day of
t 2018, by Marlaine Szurek and Walter R. Fehst, the president and
Execu,ve Director of the Columbia Heights Economic Development Authority, a public body
politic and corporate, on behalf of the Authority.
Notary Public
SHELLEY SUE HANSOM
TNOTARYPUBLIC • M1N7NMTA
My Commiss on Eores Jan. 31, 2021
523684%,2 N4N1 CI-205-65 2
By
Its Executive Director
STATE OF MINNESOTA
S&
COUNTY OF ANGOLA
The foregoingeg, instrument was acknowledged before me this day of
t 2018, by Marlaine Szurek and Walter R. Fehst, the president and
Execu,ve Director of the Columbia Heights Economic Development Authority, a public body
politic and corporate, on behalf of the Authority.
Notary Public
SHELLEY SUE HANSOM
TNOTARYPUBLIC • M1N7NMTA
My Commiss on Eores Jan. 31, 2021
523684%,2 N4N1 CI-205-65 2
HY-VEE, INC., an Iowa Corporation
By
Je-r6ey N4arkey, Senior Vice President
By
Nathan Allen, Assistant Secretary
STATE OF IOWA
SS.
COUNTY OF POLK
The foregoing instrument was acknowledged before me this 0v
day of
2018, by Jeffrey Markey and Nathan Allen, the Senior Vice President and Assistant Secretary, y,
respectively, of Hy-Vee, Inc., an Iowa corporation, on behalf of the corporation.
This document was drafted by:
KENNEDY & GRAVEN, Chartered (MINI)
470 U.S. Bank Plaza
Minneapolis, Minnesota 55402
Telephone: (612) 337-9300
523684v2 MNI CL205-65 3
n
Notary Public
4ME