HomeMy WebLinkAbout2004-265 1
l
Old Savannah Subdivision
MODIFICATION TO
CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS
NO . SD -20 -020 -70081 -CFC (2002070081 )
THIS MODIFICATION , made and entered into this 2nd day of
November , 2004 , by and between Rosewood Road East Development
Corporation , 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 , on July 22 , 2003 , the Board of County Commissioners
approved a Contract for Construction of Required Improvements No . SD -20-020 -
70081 -CFC (2002070081 ) wherein Rosewood Road East Development
Corporation agreed to construct certain required improvements within Old
Savannah Subdivision by a time certain ; and
WHEREAS , those certain required improvements were guaranteed by a
letter of credit from Indian River National Bank in the original amount of
$ 679 , 400 . 00 , expiring on October 15 , 2004 ; and
WHEREAS , by amendment to the Indian River National Bank letter of
credit , the amount was reduced to $491 , 348 . 77 ; and
WHEREAS , all improvements have been completed with the exception of
the items outlined on the approved cost estimate attached hereto as Exhibit "A" ;
and
WHEREAS , Rosewood Road East Development Corporation wishes has
substituted cash in the total amount of $ 16 , 272 . 50 representing 115 % of the cost
of the remaining improvements along with an executed Cash Deposit and
Escrow Agreement , attached hereto as Exhibit " B " in order that the existing
Indian River National Bank letter of credit be released ; and
WHEREAS , Rosewood Road East Development Corporation
acknowledges that the remaining improvements outlined on Exhibit "A" attached
hereto , are to be completed no later than November 12 , 2004 ,
NOW, THEREFORE , IN CONSIDERATION OF THE MUTUAL
COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as
follows :
s
t
1 . The posting of $ 16 , 272 . 50 cash to guarantee completion of the
remaining improvements itemized on the approved cost estimate attached hereto
as Exhibit "A" and the Cash Deposit and Escrow Agreement attached hereto as
Exhibit " B " are approved .
2 . All other terms set out in the Contract for Construction of Required
Improvements No . SD-20-020-70081 -CFC ( 2002070081 ) remain in full force and
effect .
IN WITNESS WHEREOF , the parties hereto have set their hands and
seals on the day and year first above written .
ROSEWOOD ROAD EAST
DEVELOPMENT CORPORATION , a
Florida corporation
DEVELOPER
B :
Y
Mark A . Brackett , President
INDIAN RIVER COUNTY, FLORIDA
by and through its Board of County
Commissioners
Caroline D . Ginn , Cffairman
A71. z J . K . Ba n , rk of Court BCC ratified : November 2 , 2004
Be
Deputy Clerk
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY :
By :
William G . Collins II
County Attorney
2
F :\attorney\nancy\DOCS\PLAN\MODIFICATION TO K for cons old savannah . doc
' JOSEPH W. SCHULKE, P. E.
JODAH B. BITTLE, P. E. SCHULKE , BITTLE $c STODDARD , L . L . C .
WILLIAM P. STODDARD, Ph . D. , P. E. CIVIL & STRUCTURAL ENGINEERING • LAND PLANNING • ENVIRONMENTAL PERMITTING
H , 1 B T
Engineers Certified Cost Estimate — Old Savannah Subdivision
I, Jodah B . Bittle, A Florida registered engineer, License No . 57396, do hereby certify to
Indian River County that a cost estimate has been prepared under my responsible
direction for those improvements itemized in this exhibit and that the total cost estimate
for said improvements is $ 16,272 . 50 . This estimate has been prepared, in part, to induce
approval by the county of the Old Savannah Subdivision, and for the purpose of
establishing proper surety amounts associated therewith.
0 ,
Date : [ CV I qoli
Jo B . Bittle, P. E . No . 5739
1717 INDIAN RIVER BLVD . , SUITE 301 , VERO BEACH , FLORIDA 32960
TEL 772 / 770-9622 FAX 772 / 770 -9496 EMAIL sbseng@bellsouth . net
'4
O O O O lei .
fps
69 601
t N
O O O
,14
�1J L W O O O
ri 1 O 1 ' O
Q ; b
6q 60S O •"^
s r C�
mcoq
00
f: �
rH
y 3 r 1
l � J
CL � ,
LASg
v i1
i 5 aui
t14 cor.
Y �
y
di
a
O , M
co �n
PC
N
W o
E
INDIAN RIVER COUNTY
DEPARTMENT OF UTILITY SERVICES
INTEROFFICE MEMORANDUM
Date : Tuesday October 12 , 2004
To : Will Collins , County Attorney
Nancy Mossali , Legal Assistant
From : Steven Doyle, PE, Assistant Director of Utilities
Cc : W . Erik Olson, Director of Utility Services
File Folder UCP # 2274
Subj . : Old Savannah Subdivision — Bonding or Escrowing of Outstanding Improvements
Effective this date, staff has reviewed the remaining work to be either repaired and / or installed
under the above referenced project.
The lift station cover and associated access ports must be extended above an elevation that is not
susceptible to flooding. The cost to raise the lift station cover and associated periphery is
estimated at $ 10, 000 . The Department will accept a cash bond or equivalent escrow amount
($ 10, 000) for said work to be completed within the next 30-day period .
If you have any question please do not hesitate to contact me at extension 1831 .
F:\Utilities\UTILITY - EMPLOYEE FOLDERS\Steven Doyle\Word Docs\2004 Interoffice Memos and Correspondence\Memo 2004-077 - Will Collins, Old Savannah
Bonding.docl0/12/200412: 19 PM
EXHIBIT " B "
CASH DEPOSIT AND ESCROW AGREEMENT
THIS AGREEMENT is entered into this 9nd day of
Nov .mher , 20043 by and between Rosewood Road East Development
Corporation , a Florida corporation ( Developer) , and INDIAN RIVER COUNTY , a
political subdivision of the State of Florida ( County) :
WITNESSETH ;
WHEREAS , Developer is effecting a subdivision of certain property
within Indian River County and is required to provide surety supporting a contract
with the County for the construction of certain required improvements related
thereto ;
NOW , THEREFORE , in consideration of the agreements , promises ,
and covenants set forth herein , and other good and valuable considerations , the
parties hereto agree as follows
1 . The Developer has tendered to the County Office of Management
and Budget ( Escrow Agent ) the sum of Sixteen Thousand Two Hundred Seventy
Two and 50/ 100 Dollars ($ 16 ,272 . 50) , the receipt whereof is hereby acknowledged ,
which sum shall be held in escrow by said Office , subject to the terms , conditions
and covenants of this escrow agreement as assurance that Developer shall perform
in all respects the obligations set forth in the aforementioned Contract for
Construction of Required Improvements , as modified , which agreement and
modification are attached hereto and incorporated herein by reference (Contract) .
2 . Upon completion of any distinct or separable phase or
improvement , or independent portion thereof, the Developer may obtain a
disbursement from the escrow account by making a written request to the Board of
County Commissioners of Indian River County through the County' s Public Works
Director . The request shall specify the amount of disbursement desired and shall be
accompanied by a sealed certificate from Developer' s engineer describing the work
completed , the actual cost thereof, the estimated cost of all remaining work which is
secured by the escrow account , and that the work for which disbursement is
requested has been completed in accordance with the most recent set of plans and
specifications approved and on file with the County .
3 . The amount of any given disbursement shall not exceed eighty
( 80 % ) percent of the total cost of improvements certified as being completed under
the preceding paragraph ; i . e . , twenty (20 % ) percent of the cost of each phase ,
improvement , or portion thereof , shall be retained in the escrow account until the
final reduction , which shall occur only after issuance of a Certificate of Completion in
accordance with the County' s Subdivision and Platting Ordinance .
1
F :\attorney\nancy\DOCS\PLAN\cash deposit for K old savannah.doc
r
4 . Notwithstanding the above disbursement limits , at no time shall the
escrow account balance be reduced below an amount equal to one hundred fifteen
( 115 % ) percent of the most recent approved cost estimate of the remaining required
improvements .
5 . Within seven ( 7) working days after receipt of a disbursement
request, the Public Works Director shall cause an inspection of the work for which
payment is sought . If the Public Works Director is satisfied in all respects with the
work , the accompanying cost estimates and certifications , the Public Works Director
shall notify in writing the County Office of Management and Budget . The Office of
Management and Budget shall make the disbursement as approved by the Public
Works Director directly to Developer.
6 . Upon default by developer under the Contract , the County may
elect to pursue any of the remedies made available therein . All funds remaining in
the escrow account at the time default is declared by the County shall be available
for use by , the County in accordance with the Contract . Said funds shall be
disbursed to the County upon receipt by the Office of Management and Budget of a
certified copy of a resolution of the Board of County Commissioners stating that
Developer has defaulted under the Contract and that said funds are necessary to
complete the required improvements . All funds disbursed to County in excess of the
final amount determined necessary by the County to complete the required
improvements shall be returned to Developer, its legal representatives , successors
or assigns .
7 . Any interest earned during the term of escrow, less administrative
expenses , shall be disbursed to Developers at close of escrow.
8 . The funds deposited hereunder exist solely for the protection , 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 contractor, subcontractor,
laborer, materialman , architect , engineer, attorney or other party providing labor,
material , supplies , or services for construction of the required improvements , or to
benefit any lot purchase , while such funds remain subject to this escrow agreement ,
unless and until the County shall agree otherwise in writing . The County shall not be
liable to any of the aforementioned parties for claims against the Developer or
contractor relating to the required subdivision improvements .
9 . This Agreement , together with the attached Contract , is the full
and complete understanding of the parties and shall not be construed or amplified by
reference to any prior agreement, discussion , or understanding , 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 , and executed by authorized
representatives of each party .
2
FAattorney\nancy\DOCS\PLAN\cash deposit for K old savannah.doc
IN WITNESS WHEREOF , the parties hereto have set their hands and
seals . The date of this agreement shall be the date of approval by the Board of
County Commissioners , as first stated above .
ROSEWOOD ROAD EAST DEVELOPMENT
CORPORATION , a Florida corporation
DEVELOPER
By: � 9
Mark A. Brackett, President
BOARD OF COUNTY COMMISSIONERS
OF INDIAN RIVER COUNTY , FLORIDA
By :
Caroline D . Ginn , Ch rman
Attest : Jeffrey K . Barton_ rk BCC ratified : November 2 . 2004
Deputy Clerk
Office agement udget
Jason . Br wn , Director
Approved as to form and legal
sufficiency :
William G . Collins 11
County Attorney
3
FAattomey\nancy\DOCS\PLAN\cash deposit for K old savannah .doc
Purchase of an indemnity Bond for twice Indian River National Bank 071294
the amount of this check will be required 95820th Place
before this check can be replaced in the
event it is lost or stolen. Vero Beach , FL 32960
DATE : 10 / 12 / 04 Non-Negotiable
TEVM : 15 : 01 : 46
TO: INDIAN RIVER COUNTY CKAMT $ 13 , 972 . 50
FEE AMT
TOTAL 13972 . 50
Remitter: ROSEWOOD ROAD EAST
• . UWA11111121
. .. . . .. . . . .
ftOTIGE TO CU$TOMLR .
�rcha8aocaamaemt,irisondfo twlca Indian. River. 1Vat1onal Bank 2 ' 94
_ _ . 9
the amount of this check wi11 be re
quned th
58:20 Place
0
71
before this check can be-replaced in the
eDentttis.lostlotstoleq. 'Vero Beach, 32960
.. 611205/670
- � Date: 10 / 12 / 04
PAY 1�� lot
THIRTEEN THOUSAND NINE Ff[)h13R�ENik3'WO DOLLARS AND
$ 13 , 972 . 50
MTBE 50 / 100 h -� 'al V., _.
ORDER OF
INDIAN . RIVER - COUNTY
Cashiers Check
?r Remitter: ROSEWOOD ROAD _EAST ; ,;
al' (];OOpf 71.� 94i1' , D670 i, 2 (]'5 12 . .0 a, 0 444 ; Lil'
NOTICE TO CUSTOMER Indian River National Bank 071346
Purchase of an indemnity Bond for twice
the amount of this check will be required 958 20th Place
before this check can be replaced in the Vero Beach , FL 32960
event it is lost or stolen.
DATE : 10 / 14 / 04 Non-Negotiable
TIN, E : 8 : 27 : 17
CKAMT $ 21300 .. 00
TO : INDIAN ' RIVER COUNTY FEE AMT
TOTAL 2300 . 00
Remitter: ROSEWOOD . ROAD EAST DEVELOPMENT CORP
sill
>voTit TA crlsoMER r _ 071346
Irurchisecf.anindeaunty-gonafpriwioe Jr� dlart River National Bank
- th•:
the:amountofthisc%i& villberegbued 958 -2.- 0 ;: ., : plaL` e .,
before this ehgcK can be,replaced in
nvenr.itislos[ orstolen. . . Vero 'Bdach ° FL .3,2960
. .. 6112051690 -
Dater 10 / 14 / 04
PAYTWO THOUSAND THREE HUNDREL]�iS -0l / 100 $ 2 , 300 . 00
TO THE
ORDER OF INDIAN RIVER COUNTY
IL
Cashiers Check
-Remitter: ROSEWOOD ROAD LAST DEVELOPMENT CGRP
TDDDO [ i� 346lI` ,:� :n06 ,70 2 � 57 � : ; b LO 2444 20 ill' ' :