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V- SUBSTITUTION OF MAINTENANCE SECURITY FOR BOXWOOD ESTATES SUBDIVISION <br />The Board reviewed the following memo dated 12/28/84: <br />TO.DATE:Board of County DATE:December 28, 1984 FILE: <br />Commissioners <br />SUBJECT: <br />Substitution of Maintenance <br />Security for Boxwood <br />Estates Subdivision <br />C9V <br />FROM. istopher J. Paull REFERENCES: <br />Assistant County Attorney <br />At the time of final plat approval for Boxwood Estates <br />Subdivision, on November 7, 1984, the Board accepted a maintenance <br />agreement secured by a cash pledge deposit with Harbor Federal in <br />the amount of $30,000.00. The pledge deposit was provided by the <br />developers, Cliff and Ann Reuter and Charles F. Box, on an interim <br />basis while they obtained a performance bond from a surety company. <br />A performance bond in the proper amount has now been supplied and it <br />is requested that the County Commission accept this new surety <br />instrument and authorize a release of the pledge deposit made <br />previously through Harbor Federal. <br />Requested Action - Motion to accept Maintenance Bond in the <br />amount of $22,575.00, dated December 7, 1984, in exchange for the <br />release of the previous pledge deposit from Harbor Federal for <br />Boxwood Estates Subdivision Maintenance Agreement. <br />ON MOTION by Commissioner Scurlock, SECONDED by <br />Commissioner Bird, the Board unanimously accepted <br />a maintenance bond in the amount of $22,575, dated <br />12/7/84, in exchange for the release of the previous <br />pledge deposit from Harbor Federal for Boxwood Estates <br />Subdivision Maintenance Agreement. <br />�I <br />-49 <br />JAN 9 1985 BOOK. v F'nu 444 <br />