HomeMy WebLinkAbout2004-081 f - � � - U
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CONTRACT FOR CONSTRUCTION OF
REQUIRED SIDEWALK IMPROVEMENTS
NO . SD =01 = 10 =24 =SIDECFC ( 99080039 )
THIS CONTRACT , made and entered into this 771( day of
2004 , by and between Mainstreet At Vero Beach , Inc . , a
Florida corporation , hereinafter referred to as " Developer" , and INDIAN RIVER
COUNTY , a political subdivision of the State of Florida , by and through its Board
of County Commissioners , hereinafter referred to as " County" .
WITNESSETH :
WHEREAS , Developer is commencing proceedings to effect
development of land within Indian River County , Florida ; and
WHEREAS , a Certificate of Completion for the development within
the unincorporated area of Indian River County shall not be issued until the
Developer has installed the required improvements or has guaranteed to the
satisfaction of the County that such improvements will be installed ; and
WHEREAS , Developer requests the issuance of a Certificate of
Completion for Replat of Sabal Trace Subdivision - ; and
WHEREAS , the required sidewalk improvements are to be installed
after the issuance of a Certificate of Completion , under guarantees posted with
the County .
NOW , THEREFORE , IN CONSIDERATION OF THE MUTUAL
COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as
follows :
1 . Developer agrees to construct by � � , a
date being within two years of approval of Final Plat , in a good and workmanlike
manner, those improvements described as follows :
SEE EXHIBIT "A"
or otherwise required by the Code of Laws and Ordinances of Indian River
County in connection with the approved Preliminary Plat and Land Development
Permit , which are incorporated by reference into this contract .
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2 . Developer agrees to construct said improvements strictly in
accordance with County policies for sidewalk construction as those policies
relate to location , method and type of construction , and all County development
regulations and standards , including conditions and requirements of any
applicable County right-of-way permit , all of which are hereby incorporated by
reference and made a part hereof.
3 . In order to guarantee performance of this contract , Developer
shall simultaneously herewith furnish an irrevocable letter of credit , having an
expiration date of not less than ninety (90 ) days beyond the date set forth in
Paragraph 1 , provided by a banking institution authorized to transact such
business in this state , in a form to be approved by the County , naming
174AM/6 of 1fP*Pe1 ,1 , as the underwriting bank , in the
amount of $ 8 , 625 . 00 , which amount is not less than one hundred fifteen percent
( 115 % ) of the estimated total cost of improvements remaining to be constructed ,
as determined in accordance with the County's Subdivision and Platting
Ordinance . It is understood that the full amount of the letter of credit shall
remain available to the County and shall not be reduced during the course of
construction without an express written modification thereof executed by all
parties . Requested reductions shall not be unreasonably withheld by the
County . Developer may at any time substitute guarantees , subject to the
approval as to form and amount by the County.
4 . Up to $ 1 , 000 , 000 . 00 , or the limits of any applicable underlying
or excess insurance coverage carried by Developer or to be obtained during the
course of the construction of the subdivision improvements , Developer agrees to
indemnify, hold harmless , and defend the County against any and all claims ,
damages , losses , and expenses , including attorney's fees , for property damage ,
personal or bodily injury , or loss of life , arising from the negligent acts or
omissions of the Developer, its officers , employees , agents , or contractors ,
subcontractors , laborers , or suppliers , relating to the construction of the required
sidewalk improvements , including all those improvements to be constructed on
existing publicly dedicated or County owned property.
5 . The County agrees to issue a Certificate of Completion ,
upon a finding as to compliance with all applicable provisions of the County's
Development Regulations and Ordinances and upon execution hereof.
However, nothing herein shall be construed as creating an obligation upon the
County to perform any act or construction or maintenance until such time as the
required improvements are satisfactorily completed . Satisfactory completion in
accordance with the land development permit , plans , specifications , and
ordinance requirements of Indian River County shall be determined by the
County and shall be indicated by specific written approval of the Public Works
Director or his designated representative , after receipt of a signed and sealed
Certificate of Completion from the project engineer of record .
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6 . The County agrees to issue building permits and Certificates
of Occupancy prior to the installation of required sidewalk improvements so long
as Developer is not in default of the terms of this Contract .
7 . In the event the Developer shall fail or neglect to fulfill its
obligations under this contract and as required by the Code of Laws and
Ordinances of Indian River County , Florida , the Developer, as principal , and the
letter of credit shall be jointly and severally liable to pay for the cost of
construction and installment of the required improvements to the final total cost ,
including but not limited to engineering , construction , legal and contingent costs ,
including reasonable attorney' s fees incurred by the County , together with any
damages , either direct or consequential , which the County may sustain as a
result of the failure of Developer to carry out and execute all provisions of this
contract and applicable ordinances of the County . In no event , however, shall
the liability of the underwriting bank under this paragraph exceed the total
amount of the original obligation stated in the letter of credit , less any approved
reductions thereto .
8 . The parties agree that the County at its option shall have the
right , but not the obligation , to construct and install or, pursuant to receipt of
competitive bids , cause to be constructed and installed the required
improvements in the event Developer shall fail or refuse to do so in accordance
with the terms of this contract . Developer expressly agrees that the County may
demand and draw upon the existing letter of credit for the final total cost of the
improvements . Developer shall remain wholly liable for any resulting deficiency ,
should the letter of credit be exhausted prior to completion of the required
improvements . In no event shall the County be obligated to expend public funds ,
or any funds other than those provided by the Developer, or the letter of credit to
construct the required improvements .
9 . Any letter of credit provided to the County by Developer with
respect to this contract shall exist solely for the use and benefit of the County
and shall not be construed or intended in any way , expressly or impliedly , to
benefit or secure payment to any subcontractor, laborer, materialman or other
party providing labor, material , supplies , or services for construction of the
required improvements , or to benefit any lot purchaser(s ) , unless the County
shall agree otherwise in writing .
10 . This agreement is the full and complete understanding of the
parties and shall not be construed or amplified by reference to any other
agreement , discussion , or understanding , whether written or oral , except as
specifically mentioned herein . This agreement shall not be assigned without the
express written approval of the County. Any amendment , deletion , modification ,
extension , or revision hereof or hereto shall be in writing , executed by authorized
representatives of both parties .
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IN WITNESS WHEREOF , the parties hereto have set their hands
and seals on the day and year first above written .
MAINSTREET AT VERO BEACH , INC .
By. s
( President, Vice President .or CEO )
printed name : � > / � `( ' %gig-,
DEVELOPER
INDIAN RIVER COUNTY , FLORIDA
By U
Caroline D . Ginn , Cha man
Board of County Commissioners
COUNTY
BCC Approved : 04 - 13 - 2004
ATTEST : Jeffrey K . Barton , Clerk
%t,/ dgg�g � (seal )
Deputy Clerk
APPROVED AST , FORM AND LEGAL
SUF ���
. ;'�.� -'
William G . Collins II
County Attorney
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Dave . Cox
From : Dave Cox
Sent: Tuesday, March 16 , 2004 9 : 53 AM
To : Nancy Mossali
Cc : Wilson Wetherington
Subject: Sabal Trace Sidewalk Csot Estimate Dated March 12 , 2004
The $ 7500 . 00 cost estimate prepared by Jim Young , P . E . has been reviewed and approved with the condition that the total
bond amount be $8625 . 00 = ( 1 . 15) X ($7500 . 00 ) .
I
EXHIBIT
i
772 569 0714
Mar 12 04 11 : 39a Lundberg - Young 772 569 0714r
p . 1
James W. Young & Associates , Inc.
Engineers
1925 20th Street
Vero Beach , FL 32960
Phone 772-569-6707
FAX: 772-5694714
James W . Young, P.E.
President Masier Science Civil Engineering Structural
lot o b �� � r S ( Z T5 - $501
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Bankof America A%j
PAGE : 1
DATE : MARCH 31 , 2004
IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER : 3062498
BENEFICIARY APPLICANT
INDIAN RIVER COUNTY MERCEDES HOMES , INC .
BOARD OF COUNTY COMMISSIONERS 6767 N . WICKHAM ROAD
1840 25TH STREET SUITE 500
VERO BEACH , FL 32960 MELBOURNE , FL 32940
ATTN : OFFICE OF MANAGEMENT AND
BUDGET
AMOUNT
USD 81625 . 00
EIGHT THOUSAND SIX HUNDRED TWENTY
FIVE AND 00 / 1001S US DOLLARS
EXPIRATION
MARCH 31 , 2005 IN HIALEAH , FL
GENTLEMEN :
BANK OF AMERICA , N . A . , AT THE REQUEST OF MERCEDES HOMES , INC .
( " CUSTOMER " ) , HEREBY ESTABLISHES AN IRREVOCABLE LETTER OF CREDIT NO ,
3062498 IN YOUR FAVOR IN THE AMOUNT OF $ 8 , 625 . 34 EFFECTIVE AS OF
MARCH 31 , 2004 AND EXPIRING AT OUR OFFICE AT THE CLOSE OF BUSINESS ON
MARCH 31 , 2005 .
THIS LETTER OF CREDIT SHALL AUTOMATICALLY EXTEND FOR ADDITIONAL ONE
YEAR PERIODS UNLESS BANK OF AMERICA , N . A . PROVIDES WRITTEN NOTICE BY
CERTIFIED MAIL , RETURN RECEIPT REQUESTED , OR BY OVERNIGHT COURIER , TO
INDIAN RIVER COUNTY OFFICE OF MANAGEMENT AND BUDGET AT 1840 25TH
STREET , VERO BEACH , FLORIDA 32960 OF THE BANK ' S INTENT NOT TO
AUTOMATICALLY EXTEND THE LETTER OF CREDIT , AT LEAST 90 DAYS PRIOR TO
THE LETTER OF CREDIT EXPIRATION DATE , NOTWITHSTANDING THE ABOVE THIS
LETTER OF CREDIT WILL NOT BE EXTENDED BEYOND JUNE 30 , 2006 , IN THE
EVENT YOU ARE SO NOTIFIED ANY UNUSED PORTION OF THE LETTER OF CREDIT
SHALL BE AVAILABLE UPON PRESENTATION , WITHIN THE CURRENT EXPIRATION
DATE , OF YOUR SIGHT DRAFT ,
BANK OF AMERICA SHALL MAKE FUNDS AVAILABLE UNDER THIS CREDIT TO YOU
NOT EXCEEDING IN THE AGGREGATE THE AMOUNT OF THIS CREDIT AGAINST YOUR
SIGHT DRAFT TO US MENTIONING THIS LETTER OF CREDIT NO , 3062498 ,
ACCOMPANIED BY A STATEMENT PURPORTEDLY SIGNED BY BOTH AN AUTHORIZED
OFFICER OF MANAGEMENT AND BUDGET FOR INDIAN RIVER COUNTY AND THE
DIRECTOR OF COMMUNITY DEVELOPMENT FOR INDIAN RIVER COUNTY STATING THE
FOLLOWING :
" PURSUANT TO THE CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK
IMPROVEMENTS NO . SD - 01 - 10 - 24 - SIDECFC ( 99080039 ) RELATING TO SIDEWALKS
IN THE REPLAT OF SABAL TRACE SUBDIVISION BETWEEN MAINSTREET AT VERO
BEACH , INC . , A FLORIDA CORPORATION ( " DEVELOPER " ) AND INDIAN RIVER
COUNTY , MERCEDES HOMES , INC . AND / OR MAINSTREET AT VERO BEACH , INC .
HAVE DEFAULTED UNDER THE TERMS OF THE AFOREMENTIONED CONTRACT FOR
CONSTRUCTION OF REQUIRED SIDEWALK IMPROVEMENTS OR FAILED TO POST
ALTERNATIVE SECURITY AND THAT THE AMOUNT OF THE DRAFT REPRESENTS THE
AMOUNT REQUIRED BY THE COUNTY TO FULFILL THE PERFORMANCE OF SAID
CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK IMPROVEMENTS . "
ORIGINAL
Bank of America, N.A. Trade Operations
Mail Code: CA9-703- 19-09
333 S. Beaudry Avenue, 19th Floor, Los Angeles, CA 90017
00-35-0202NSB 9-1999 CA9 19
BankofAmerica
%j
PAGE : 2
THIS IS AN INTEGRAL PART OF LETTER OF CREDIT NUMBER : 3062498
DRAFTS PRESENTED FOR PAYMENT UNDER THE CREDIT SHALL BE MARKED " DRAWN
ON IRREVOCABLE LETTER OF CREDIT NO . 3062498 OF BANK OF AMERICA ,
N . A . 11 .
THIS LETTER OF CREDIT SETS FORTH IN FULL THE TERMS OF OUR
UNDERTAKING . SUCH UNDERTAKING SHALL NOT IN ANY WAY BE MODIFIED ,
AMENDED OR AMPLIFIED BY REFERENCE TO ANY DOCUMENT , INSTRUMENT , OR
CONTRACT REFERRED TO HEREIN OR IN WHICH THIS LETTER OF CREDIT IS
REFERRED TO OR TO WHICH THIS LETTER OF CREDIT RELATES AND ANY SUCH
REFERENCE SHALL NOT BE DEEMED TO INCORPORATE HEREIN BY REFERENCE ANY
DOCUMENT , INSTRUMENT OR CONTRACT ,
WE HEREBY ENGAGE WITH YOU THAT DRAFT ( S ) DRAWN UNDER AND IN COMPLIANCE
WITH THE TERMS OF THIS LETTER OF CREDIT WILL BE DULY HONORED UPON
PRESENTATION AT BANK OF AMERICA , N . A . TRADE OPERATIONS , MIAMI LAKES
OPERATIONS CENTER , 5875 NW 163RD STREET , HIALEAH , FL 33014 ,
PARTIAL DRAWINGS ARE NOT PERMISSIBLE .
THIS CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR
DOCUMENTARY CREDITS , 1993 REVISION , INTERNATIONAL CHAMBER OF COMMERCE
PUBLICATION NO , 500 ,
IF YOU REQUIRE ANY ASSISTANCE OR HAVE ANY QUESTIONS REGARDING THIS
TRANSACTION , PLEASE CALL 305 - 819 - 7662
- - - ZE UTHORIZED SIGNATURE AUTHORIZED SIGNAT
ORIGINAL
Bank of America, N.A. Trade Operations
Mail Code: CA9-703- 19-09
333 S. Beaudry Avenue, 19th Floor, Los Angeles, CA 90017
00-35-0202NSB 9- 1999_CA9 19