My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2020-047A
CBCC
>
Official Documents
>
2020's
>
2020
>
2020-047A
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
12/12/2022 3:28:56 PM
Creation date
4/7/2020 12:41:57 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Contract
Approved Date
03/17/2020
Control Number
2020-047A
Agenda Item Number
8.B.
Entity Name
GRBK GHO High Pointe, LLC
Subject
Utility Improvements on Florida East Coast Railway Property
Agreement to Warranty and Guranty Utility Improvements at Completion and to provide a
Bill of Sale
Area
65th Street/Old Dixie Hwy
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
24
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
WHEREAS, upon completion of the Improvements by Developer and upon <br />approval of same by the County Utility Director, seventy-five (75%) percent of the security will <br />be released by County with the remaining twenty-five (25%) percent to be held as warranty <br />security for one (1) year from the date of approval by the County Utilities Director. Additionally, <br />if security is posted in the form of a letter of credit, that letter of credit must remain valid for 90 <br />days beyond the 1 -year warranty period; and <br />WHEREAS, at the completion of the Improvements, Developer agrees to execute <br />a Warranty and Guaranty Agreement and Bill of Sale to warranty the Improvements for a period <br />of one year against defects due to faulty field engineering, workmanship, or materials, secured <br />with the remainder twenty five 25%) percent security mentioned above; and <br />WHEREAS, nearing the end of the 1 -year warranty period, or sooner if the need <br />arises, County will cause inspections to be performed to determine if the Improvements remain <br />free from defects due to faulty field engineering, workmanship, or materials. If the <br />Improvements are determined to be acceptable, then the remaining twenty-five (25%) percent <br />security will be released by the County Utilities Director at the end of the warranty period. In the <br />alternative, if the Improvements are found to be defective, County will notify Developer of such <br />defect(s) and Developer must immediately cure the defect(s). Failure to cure any defects will <br />result in the Developer, as principal, and the escrowed cash or letter of credit being jointly and <br />severally liable to pay for the repairs; and <br />WHEREAS, failure by Developer to construct the Improvements within the 12 - <br />month period from the date the security is provided will cause Developer to be in default under <br />this Contract, and Developer and the underlying security shall be jointly and severally liable to pay <br />for the cost of construction and installment or removal of the Improvements to the final total cost <br />including warranty; <br />NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS AND <br />PROMISES HEREIN CONTAINED, the parties agree as follows: <br />1. Developer agrees to construct on or before one year after the Effective Date <br />herein described, in a good and workmanlike manner, the Improvements, which are described as <br />follows: <br />See Exhibit "A' attached hereto <br />2. Developer agrees to construct said Improvements strictly in accordance <br />with the conditions of project approval and requirements of any applicable Florida East Coast <br />Railway, LLC requirements, all of which are hereby incorporated by reference and made a part <br />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 Effective Date of this Contract, provided by <br />a banking institution acceptable to the County, in a form to be approved by the County, naming <br />Developer or Developer's contractor as customer and the underwriting bank, in the amount of <br />One Hundred Sixteen Thousand, Six Hundred Fifteen and 1/100 Dollars $116,615.01 which <br />amount is not less than one hundred and fifteen percent (115%) of the estimated total cost of <br />2 <br />
The URL can be used to link to this page
Your browser does not support the video tag.