2008-160 - Laserfiche WebLink

Home Browse Search

Lateral H canal, including a bridge across the canal ("County Project"). Developer shall substantially complete construction of the Roadway Improvements contemplated in this Agreement concurrently with or prior to the County ' s construction of the County Project. (The allocation of tasks as between the County and the Developer is reflected on Exhibit `B ", attached hereto and made a part hereof) B . To secure the performance of the Developer and payments of all expenses associated with the roadway improvement project, the Developer agrees to establish and maintain a surety instrument throughout the term of the project. The surety instrument may be in the form of a cash deposit or an irrevocable letter of credit. If the cash option is selected, the required sum shall deposited with the County. If the letter of credit is utilized, the form and content thereof shall be approved in advance by the County. C. The amount of the surety instrument to be established by the Developer to secure the performance hereunder shall be One Hundred Fifteen percent ( 115%) of the total roadway improvement project costs as provided in the County approved estimate of project costs to be prepared after the roadway improvement plans have been completed by the County. The surety instrument shall be posted by the Developer no later than ten ( 10) days following County approval of the estimate of project costs, and shall be maintained until the County' s final acceptance of the roadway improvement project. 4. Impact Fee Credits : Developer shall receive and be entitled to traffic impact fee credits for all reasonable costs associated with the Roadway Improvements, with the exception of the following, which shall be considered site-related improvements : A. Eastbound right-tum lane from 53`d Street. B . Westbound left-turn lane from 53 `d Street. C. Developer' s proportionate share of its cost of construction of the Southbound left-tum lane from U. S . 1 to 53'd Street West, which proportionate share is $6,340.00. The County shall have the right to review and approve all bid documents, and the County's approval shall not be unreasonably withheld. 5 . A. Sianalization at 53rd Street/Harbor Point Entrance: Concurrently with the construction of 53'd Street, Developer shall install County designed signalization at the 53`d Street driveway/entrance to Harbor Point. Developer shall be responsible for one-half (%,) of the construction costs for such signalization, and Developer shall not receive impact fee credits for this amount. Developer and County acknowledge that NAP Indian River II LLC will be responsible for one-half ('/z) of the construction costs for such signalization, pursuant to a separate agreement with 2