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• • <br /> RESOLUTION NO. 9/ . Y2 <br /> RESOLUTION APPROVING SATISFACTION AND RELEASE <br /> OF LIABILITY WITH IOWA REALTY CO. CONCERNING <br /> DEVELOPMENT AGREEMENT <br /> WHEREAS, Iowa Realty Co., Inc. ( "Iowa Realty ") and the City <br /> of Clive, Iowa, a municipal corporation ( "City ") entered into one <br /> certain Development Agreement Re Country Club West Property and <br /> Country Club Plat 1 Property dated July 24, 1990 ( "Agreement "); and <br /> WHEREAS, the Agreement deals with the construction of the <br /> roadway improvements of N.W. 142nd Street from University Avenue <br /> north approximately 1 mile to Hickman Road. Among other things, <br /> the Agreement provides that Iowa Realty will contribute to the City <br /> of Clive certain sums of money necessary to complete the <br /> construction of the improvements. Specifically, paragraph 6 of the <br /> Agreement provides that the City shall have a lien on property <br /> owned by Iowa Realty in the event the City makes any payments or <br /> incurs any costs in connection with the improvement project which <br /> payments or costs had agreed to be paid by Iowa Realty; and <br /> WHEREAS, the parties desire to acknowledge the complete <br /> financial contribution by Iowa Realty pursuant to the Agreement. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF CLIVE, IOWA: <br /> That the attached Satisfaction and Release of Liability <br /> ( "Release ") be and is hereby approved and accepted by the City of <br /> Clive; and the Mayor is hereby authorized and directed to execute <br /> said Release on behalf of the City; and the City Clerk is hereby <br /> authorized and directed to attest to the signature of the Mayor, <br /> to affix the seal of the City to the same and to record said <br /> Release in the office of the Dallas County, Iowa, Recorder. <br /> PASSED AND APPROVED THIS 4L day of ,4 , 1991. <br /> v <br /> 144 / i f fi <br /> 0. 4.ene .. dox, Ma-or <br /> ATTEST: <br /> BY: % !.I/ i A i l AP <br /> Marj.rie r.. Roberts, City Clerk <br /> c : \jcw \clive \resolu \iarealty.dev <br />