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2009-036
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2009-036
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Last modified
3/2/2016 12:11:15 PM
Creation date
10/1/2015 3:15:58 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Contract
Approved Date
02/10/2009
Control Number
2009-036
Agenda Item Number
8.D.
Entity Name
S&S Rentals LLC
Subject
Roadway Improvements CR 512, Sebastian
Burger King and Sunoco Gas Station
Area
CR 512 Sebastian
Project Number
2008100352
Supplemental fields
SmeadsoftID
10450
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that letter of credit must remain valid for 90 days beyond the 1 -year warranty period ; <br /> and <br /> WHEREAS , at the completion of the roadway improvements , Developer <br /> agrees to execute a Warranty and Guaranty Agreement and Bill of Sale to warranty the <br /> roadway improvements for a period of one year against defects due to faulty field <br /> engineering , workmanship , or materials , secured with the remainder ten ( 10 ) percent <br /> security mentioned above ; and <br /> WHEREAS , nearing the end of the 1 -year warranty period , or sooner if the <br /> need arises , County will cause inspections to be performed to determine if all <br /> improvements remain free from defects due to faulty field engineering , workmanship , or <br /> materials . If the roadway improvements are determined to be acceptable , then the <br /> remaining ten ( 10 ) percent security will be released by the County Public Works Director <br /> at the end of the warranty period . In the alternative , if the roadway improvements are <br /> found to be defective , County will notify Developer of such defect ( s ) and Developer <br /> must cure the defect ( s ) within twenty ( 20 ) days of written notice by County . Failure to <br /> cure any defects will result in the Developer , as principal , and the escrowed cash <br /> or <br /> letter of credit being jointly and severally liable to pay for the repairs ; and <br /> WHEREAS , failure by Developer to construct the required roadway <br /> improvements within the 12 - month period from the issuance of the right-of-way permit <br /> will cause Developer to be in default under this agreement , and Developer and the <br /> underlying security shall be jointly and severally liable to pay for the cost of construction <br /> and installment of the required roadway improvements to the final total cost ; <br /> NOW , THEREFORE , IN CONSIDERATION OF THE MUTUAL <br /> COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as follows : <br /> 1 . Developer agrees to construct on or before January 28 , 2010 , in a <br /> good and workmanlike manner , those improvements described as follows : <br /> See Exhibit "A " attached hereto <br /> 24 Developer agrees to construct said improvements strictly in <br /> accordance with the conditions of site plan approval and requirements of any applicable <br /> County right- of- way permit , all of which are hereby incorporated by reference and made <br /> a part hereof. <br /> 3 . In order to guarantee performance of this contract , Developer shall <br /> simultaneously herewith furnish either cash or an irrevocable letter of credit , having an <br /> expiration date of not less than 27 months from the issuance of the County right- of-way <br /> permit , provided by an acceptable banking institution authorized to transact such <br /> business in this state , and with a call address in Florida , in a form to be approved by the <br /> County , naming Developer or Developer' s contractor as customer and the underwriting <br /> 2 <br />
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