8/11/2016 2:09:28 PM
9/30/2015 9:23:21 PM
Official Document Type
Agenda Item Number
Public Works Director
IRC Development LLC
Lakes at Sandridge, Transfer of Responsibility
Lakes at Sandridge Phase II
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Thoroughfare Plan Roadways w /' <br /> (Sidewalk ) <br /> 3 <br /> AGREEMENT FOR THE TRANSFER OF RESPONSIBILITY <br /> FOR REQUIRED IMPROVEMENTS <br /> THIS AGREEMENT , made and entered into this Sly of <br /> 2005 by and between IRC Development , L . L . C . , a Florida <br /> limited liability company , hereinafter referred to as " Developer" , and INDIAN RIVER <br /> COUNTY, a political subdivision of the State of Florida , hereinafter referred to as <br /> " County" . <br /> WITNESSETH : <br /> 1 . Developer received preliminary plat approval on July 24 , 2003 for the <br /> project identified as : <br /> Project Title : The Lakes at Sandridge , Phase II PD <br /> Project Number : PD-03-07 - 17 <br /> Project Live- IRC Number: 2002120179-44609 <br /> Project Location : nw corner of 58th Ave . and 81St Street <br /> 2 . As a condition of final plat approval , Developer is required to construct <br /> sidewalks along the project ' s C . R . 510 frontage . <br /> 3 . In accordance with Section 913 . 09 (5 ) ( b ) 1 . b . ii of the Land Development <br /> Regulations , Developer wishes to effectively satisfy and be released from its obligation <br /> to construct the required sidewalk segments by providing a cash payment of funds equal <br /> to one hundred percent ( 100 % ) of the estimated cost to construct the required sidewalk <br /> segments . <br /> 4 . It is agreed between the parties that in consideration of the sum payment <br /> of $ 8 , 304 . 84 , Developer transfers its responsibility to County , and County releases <br /> Developer from all obligations to construct sidewalks along the project 's C . R . 510 <br /> frontage , and County assumes the obligation of providing the referenced sidewalk <br /> improvements at some future date . <br /> 5 . Developer may apply in writing to the Public Works Director for a refund <br /> of monies paid should County not begin the construction of said required sidewalk <br /> improvements by / o - 3/ ^-lcz4'4i'// (six years from the date of cash payment) . If the <br /> Developer elects to request such a refund , the County shall repay those monies <br /> allocated toward the improvement , and Developer's obligations under paragraph 2 <br /> hereof shall be deemed satisfied . Any requests for refunds not made by <br /> / o �3/ - zo/� (seven years from the date of cash payment) shall be deemed a waiver <br /> of all rights to such refund . <br /> 1 <br /> F :\Attorney\Nancy\DOCS\PLAN\transfer respons side lakes at sandridge . doc <br />
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