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2010-161
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Last modified
2/19/2016 3:11:25 PM
Creation date
10/1/2015 2:20:15 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
07/06/2010
Control Number
2010-161
Agenda Item Number
8.I.
Entity Name
Tot Spot of Vero - Clinton Barker Land Development
Subject
Joint Paving Cash Deposit and Escrow
Area
47th Street
Project Number
2004080190
Supplemental fields
SmeadsoftID
9724
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47" Street paving between U . S . 1 and the east terminus of 47th Street <br /> County Development Project #2004080190 IRC BID NO . 2010033 <br /> Ob 0 <br /> AGREEMENT CONCERNING <br /> CASH DEPOSIT AND ESCROW <br /> FOR THE JOINT PAVING PROJECT FOR 471hH STREET <br /> ( County Development Project #2004080190 ) <br /> THIS AGREEMENT CONCERNING CASH DEPOSIT AND ESCROW <br /> FOR THE JOINT PAVING PROJECT FOR 47TH STREET ( Agreement ) is entered <br /> into this 6th day of Jul y 120107 by and between TOT SPOT OF VERO , <br /> INC . , a Florida corporation ( Developer ) , CLINTON BARKER LAND <br /> DEVELOPMENT LLC , a Florida limited liability company ( Contractor ) , and <br /> INDIAN RIVER COUNTY , a political subdivision of the State of Florida <br /> ( County ) : <br /> WITNESSETH : <br /> WHEREAS , Developer is effecting a development of a day care center to <br /> be known as Tot Spot ; and <br /> WHEREAS , as a condition of Developer' s site plan approval , Developer <br /> must pave 47th Street between U . S . 1 and the day care center' s entrance , a <br /> distance of 849 feet ; and <br /> WHEREAS , the County is desirous of having the entire section of 47th <br /> Street east of U . S . 1 paved , a total distance of 1 , 053 feet ; and <br /> WHEREAS , a Developer' s Agreement dated July 21 , 2009 recites that <br /> Developer and County have agreed to a joint paving project comprised of paving <br /> 47th Street between U . S . 1 and the east terminus of 47th Street , where the <br /> Developer is responsible for paying its fair share of the project , being 80 . 6 % of <br /> the total project and the County paying its fair share , being 19 . 4 °/x ; and <br /> WHEREAS , the County has ascertained the lowest bid for the project at <br /> $ 132 , 695 . 40 , awarded to Clinton Barker Land Development LLC , thereby the <br /> Developer' s fair share is $ 106 , 952 . 46 ; and <br /> WHEREAS , in lieu of the posting of a payment and performance bond , <br /> Developer is providing surety in the form of cash to guaranty completion of its <br /> share of the joint paving project ; and <br /> WHEREAS , Contractor will provide a 1 - year warranty bond to County <br /> when the paving project is completed ; and <br /> . 1 . a . <br /> NOW , THEREFORE , in consideration of the agreements , promises , an <br /> covenants set forth herein , and other good and valuable considerations , the <br /> parties hereto agree as follows : <br /> 1 <br />
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