AMENDMENT TO SUBDIVISION AGREEMENT

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Sharon Hicks
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1 SECOND AMENDMENT TO SUBDIVISION AGREEMENT THIS SECOND AMENDMENT TO SUBDIVISION AGREEMENT ( Second Amendment ) is made this day of, 2007 ( Effective Date ), by and among HILLCREST DEVELOPMENT COMPANY, L.L.C., a Nebraska limited liability company (hereinafter referred to as the HILLCREST ), as successor-in-interest to TITAN SPRINGS, L.L.C., a Nebraska limited liability company (hereinafter referred to as the DEVELOPER ) with respect to a portion of the area to be developed (as defined in the original Subdivision Agreement), and SANITARY AND IMPROVEMENT DISTRICT NO. 246 OF SARPY COUNTY, NEBRASKA, a Nebraska political subdivision (hereinafter referred to as the DISTRICT ), and THE CITY OF PAPILLION, NEBRASKA, a municipal corporation of the first class (hereinafter referred to as the CITY ). WITNESSETH: WHEREAS, the DEVELOPER, the DISTRICT and CITY entered into a Subdivision Agreement ( Subdivision Agreement ) dated December 3, 2003 with respect to the area to be developed (Lots 1 through 222, inclusive, and Outlots A, B, C, D, E and F, Titan Springs); and WHEREAS, the DEVELOPER and HILLCREST entered into a Sale and Purchase Agreement dated February 8, 2007, as amended, whereunder the DEVELOPER agreed to sell to HILLCREST and HILLCREST agreed to purchase from DEVELOPER a portion of the area to be developed (Lot 2, Lots 138 through 222, inclusive, and Outlots D, E and F ); and WHEREAS, HILLCREST desires to replat, rezone and develop the Lot 2, Lots 138 through 222, inclusive, and Outlots D, E and F into Lots 1 through 4, inclusive, and Outlots A through C, inclusive, Hillcrest Country Estates (hereinafter referred to as the Property ); and WHEREAS, the parties hereto desire to modify the Subdivision Agreement to allow for the replatting, rezoning and development of the Property as set forth herein. NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises and covenants hereinafter contained, the parties hereto agree as follows: 1. Definitions: Unless otherwise defined in this Second Amendment, all capitalized terms used in this Second Amendment shall have the same meaning set forth for such terms in the Subdivision Agreement.

2 2. Amendments to Subdivision Agreement. The following provisions of the Subdivision Agreement shall be modified with respect to the development of the Property as follows: A. Recitals. The first paragraph of the Recitals shall be amended as follows: Exhibit A is hereby amended to reflect the final plat of the Property as shown on Exhibit A-1 attached hereto (Lots 1 through 4, inclusive, and Outlots A through C, inclusive, Hillcrest Country Estates). B. Exhibit B-1 is hereby amended to reflect the modifications to the paving plans for the development of the Property as shown on Exhibit B-1A attached hereto. C. Exhibit C is hereby amended to reflect the modifications to the street right-of-way grading plans for the Property as shown on Exhibit C-1 attached hereto. D. Exhibit D is hereby amended to reflect the modifications to the sanitary sewers and water mains constructed within the dedicated street right-of-ways of the Property as shown on Exhibit D-1 attached hereto. E. Exhibit E is hereby repealed in its entirety and the attached Exhibit E-1 is hereby substituted in its place with respect to the paving intersection for Longview Street and 60 th Street. F. Exhibit J is hereby repealed in its entirety. G. Exhibit M is hereby repealed in its entirety and the attached Exhibit M is hereby substituted in its place with respect to the landscaping plans for the Property. H. Capital Facilities Charges. The capital facilities charges shall be paid and assessed in accordance with the approved Source and Use of Funds attached hereto as Exhibit N. I. Park Purchase. The District s acquisition of the park shall constitute the District s park fee contribution. The District s Park shall now be legally described as Outlots A and B, Hillcrest Country Estates, a subdivision as surveyed, platted and recorded in Sarpy County, Nebraska. The District Park shall be acquired by the District for the sum of Twenty-Five Thousand ($25,000.00) Dollars per acre plus a maximum of twenty (20%) percent soft costs, which may be paid through the general obligation fund of the District. J. Ownership and Maintenance of Outlot C. The Developer and/or its successors and assigns, including any landowners association formed for the purposes of owning and maintaining Lot 3, Hillcrest Country Estates, shall be the lawful owner of and have the obligation to maintain Outlot C. K. Phasing of Development. Notwithstanding any provision to the contrary set forth in

3 the Subdivision Agreement, HILLCREST shall have the immediate right, but not the obligation, to install the public improvements necessary to develop the Property in accordance with this Second Amendment and the approved Source and Use of Funds attached hereto as Exhibit N. 3. Miscellaneous. A. Counterparts. This Second Amendment may be executed in counterparts each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument. B. No Other Amendment. Except as specifically set forth herein, the Subdivision Agreement shall remain in full force and effect. IN WITNESS WHEREOF, this Second Amendment is effective on the day and year first above written. CITY OF PAPILLION, A Nebraska Municipal Corporation ATTEST: James E. Blinn, Mayor Jennifer Niemier, City Clerk CITY SEAL:

4 SANITARY & IMPROVEMENT DISTRICT NO. 246 OF SARPY COUNTY, NEBRASKA Date: By: Its: STATE OF NEBRASKA ) )ss. COUNTY OF SARPY ) Before me, a notary public, in and for said county and state, personally came, of Sanitary & Improvement District No. 246, known to me to be the identical person who executed the above instrument and acknowledged the execution thereof the be his or her voluntary act and deed on behalf of such corporation. Witness my hand and Notarial Seal this day of, Notary Public TITAN SPRINGS, L.L.C., a Nebraska limited liability company, Date: By: Its: STATE OF NEBRASKA ) )ss. COUNTY OF SARPY ) Before me, a notary public, in and for said county and state, personally came, of Titan Springs, LLC, known to me to be the identical person who executed the above instrument and acknowledged the execution thereof the be his or her voluntary act and deed on behalf of such corporation. Witness my hand and Notarial Seal this day of, Notary Public

5 HILLCREST DEVELOPMENT COMPANY, L.L.C., a Nebraska limited liability company, Date: By: Its: STATE OF NEBRASKA ) )ss. COUNTY OF SARPY ) Before me, a notary public, in and for said county and state, personally came, of Hillcrest Development Company LLC, known to me to be the identical person who executed the above instrument and acknowledged the execution thereof the be his or her voluntary act and deed on behalf of such corporation. Witness my hand and Notarial Seal this day of, Notary Public

12 NAME OF ADDITION: SID NO.: 246 DATE: 6-Sep Total Project Costs - Source and Use of Funds (Preliminary) Hillcrest County Estates PROPOSED IMPROVEMENTS FINANCING CONSTRUCTION GENERAL SPECIAL ITEM QUANTITY UNIT PRICE COST TOTAL COST OBLIGATION ASSESS REIMBURSABLE PRIVATE Storm Sewer Grand Lodge Ave 1.00 LS $ 75, $ 75, $ 106, $ 106, $ $ $ Mark Street 1.00 LS $ 7, $ 7, $ 10, $ 10, $ $ $ 61st Street 1.00 LS $ 3, $ 3, $ 5, $ 5, $ $ $ Offsite Flow 1.00 LS $ 58, $ 58, $ 82, $ 82, $ $ $ Pond LS $ 32, $ 32, $ 46, $ 46, $ $ $ Pond LS $ 27, $ 27, $ 39, $ 39, $ $ $ Pond LS $ 17, $ 17, $ 24, $ 24, $ $ $ Sanitary Sewer CEDARDALE ROAD 1.00 LS $ 65, $ 65, $ 88, $ 88, $ $ $ Grand Lodge Ave 1.00 LS $ 44, $ 44, $ 60, $ $ 60, $ $ Mark Street 1.00 LS $ 14, $ 14, $ 19, $ $ 19, $ $ 61st Street 1.00 LS $ 4, $ 4, $ 6, $ $ 6, $ $ 60th Court 1.00 LS $ 33, $ 33, $ 45, $ $ 45, $ $ Private Drive 1.00 LS $ 16, $ 16, $ 22, $ $ 22, $ $ Water CEDARDALE ROAD 1.00 LS $ 51, $ 51, $ 70, $ 70, $ $ $ Grand Lodge Ave 1.00 LS $ 65, $ 65, $ 88, $ $ 88, $ $ Grand Lodge Ave (Upsize) 1.00 LS $ 55, $ 55, $ 74, $ 74, $ $ $ Mark Street 1.00 LS $ 8, $ 8, $ 11, $ $ 11, $ $ 61st Street 1.00 LS $ 12, $ 12, $ 16, $ $ 16, $ $ 60th Court 1.00 LS $ 57, $ 57, $ 77, $ $ 77, $ $ Private Drive 1.00 LS $ 77, $ 77, $ 105, $ $ 105, $ $ Private Drive (Upsize) 1.00 LS $ 26, $ 26, $ 35, $ 35, $ $ $ Offsite Public 1.00 LS $ 16, $ 16, $ 22, $ 22, $ $ $ Water Capital Facilities Charges Hillcrest County Estates - Residential, Single Family Lot $ 1, $ 45, $ 60, $ 30, $ 30, $ $ Hillcrest County Estates - Residential, Duplex Lot $ 2, $ 20, $ 27, $ 13, $ 13, $ $ Hillcrest County Estates - Residential, Multi-Family AC $ 4, $ 113, $ 153, $ 76, $ 76, $ $ Titan Springs - Residential, Single Family AC $ -1, $ -127, $ -172, $ -86, $ -86, $ $ Titan Springs - Commercial Area AC $ -4, $ -29, $ -39, $ -19, $ -19, $ $ Paving 60TH STREET 1.00 LS $ 112, $ 112, $ 157, $ 157, $ $ $ CEDARDALE ROAD 1.00 LS $ 6, $ 6, $ 8, $ 8, $ $ $ Grand Lodge Ave 1.00 LS $ 316, $ 316, $ 442, $ $ 442, $ $ Grand Lodge Ave (GO) 1.00 LS $ 80, $ 80, $ 113, $ 113, $ $ $ Mark Street 1.00 LS $ 142, $ 142, $ 199, $ $ 199, $ $ 61st Street 1.00 LS $ 51, $ 51, $ 71, $ $ 71, $ $ Park And Trail 60TH STREET TRAIL 1.00 LS $ 31, $ 31, , $ 42, CEDARDALE ROAD TRAIL 1.00 LS $ 41, $ 41, , $ 56, GRAND LODGE AVE TRAIL (Special) 1.00 LS $ 38, $ 38, , $ 52, GRAND LODGE AVE TRAIL 1.00 LS $ 23, $ 23, , $ 31, Mark Street Trail 1.00 LS $ 14, $ 14, , $ 18, st Street Trail 1.00 LS $ 5, $ 5, , $ 7, Outlot A & B 1.00 LS $ 549, $ 549, , $ 741, Electric Service - OPPD Hillcrest County Estates - Residential, Single Family Units $ $ 37, $ 50, $ $ 50, $ $ Hillcrest County Estates - Commercial Area Units $ 2, $ 59, $ 80, $ $ 80, $ $ Other Costs Review Fee (1% of construction costs) GRAND TOTAL $ 19, $ 23, $ 16, , $ 2,328, $ 3,188, $ 1,815, $ 1,372, $ 0.00 $ 0.00 TOTAL SID EXPENSE: $ 3,188, Opinion of Valuation Lot 1 (Hillcrest Grand Lodge) 1.00 LS $ 30,000, $ 30,000, Lot 2 (Hillcrest Cottages) 9.00 EA 1,500, $ 13,500, Lot 3 & 4 (Hillcrest Villas) EA $ 150, $ 7,500, Total $ 51,000, TOTAL OPINION OF VALUATION AT BUILDOUT (@ 90%) $ 45,900, Debt/Valuation Ratio 3.96% NOTE: These values are based on the most current estimates of probable construction costs using current bid prices. Actual final costs may vary according to market condition. EXHIBIT "N"

City of Grand Island Tuesday, September 11, 2012 Council Session

City of Grand Island Tuesday, September 11, 2012 Council Session Item E12 Public Hearing on Proposed FY 2012-2013 Community Redevelopment Authority (CRA) and City of Grand Island Budget Staff Contact: