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Home My WebLink About2008-249A09/04/2008 18% 24 561- (M-b3lb Imu U 1 1Ll I .1LJ THIS FUNDING AGREEMENT for ROYAL OAK MOBILE HOME PARK ("Agreement") entered into this 10 day of r , 2008 by and between WILLIAM D. LAIN REVOCABLE TRUST c/o William Lain, ("Owner"}, having an address of 8125 U.S. Highway 1, Vero Beach, Fl_ 32967 and INDIAN RIVER COUNTY BOARD OF COUNTY COMMISSIONERS, a political subdivision of the State of Florida, ("County") having an address of 1801 27th St., Vero Beach, FL 32960, BACKGROUND RECITALS: A. On August 12, 2008, the County approved the expenditure of funds for construction of water facilities to serve the Royal Oak Mobile Home Park ("Park") up to a maximum amount of $25,595.63 ("Project"). B. Also on August 12, 2008, the Board approved execution of "Work Authorization Directive #207-016" in the amount of $8,894.38 to Derrico Construction Corporation ("Derrico") for the labor portion of the project, together with advance funding of the $500 FDEP application fee. C. The Owner has received a letter from the Florida Department of Environmental Protection requiring the Park to disconnect its potable water services from the existing water well and connect to a public potable water supply that can be supplied by the County by and through its Utility Department. D. The County and Owner have agreed on the method of funding the Project. NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows. The Background Recitals are true and correct and form a material part of this Agreement. 1. The County will issue the Work Authorization Directive #2007-016 in September, 2008, following receipt of a permit from FDEP. 2, Thereafter, the County will issue a blanket purchase order for materials in the maximum amount of $16,201.25. 31 Work Authorization Directive 2007=015 provides that 95% completion will occur on or about October 3, 2008 and the pay request will be submitted to the County by the end of October. The final pay request for the remaining 5% retainage will be submitted to the County in November, 2008. The invoices under the blanket purchase order will be submitted to the County in September, 2008. The $500 FDEP application fee was paid by the County in August, 2008 and Owner acknowledges that it shall re pay the $500 FDEP application fee to the County promptly upon receipt of an invoice from the County therefor. 4. The County shall, promptly upon receipt of any and all invoices and payment requests, review such documents and, thereafter, immediately transmit them to Owner. Owner shall, within five (5) business days following receipt of such payment request or invoices approved by the County, transmit the amounts shown on each such invoice and pay request via certified or cashiers check payable to Indian River County Board of County 10 09/04/20UB lb:Z4 b41-I/b-b31d IMU UI1Ll I lczn .+ Commissioners. Promptly upon County's receipt of such funds, the County shall deposit the check and make payment under the pay requests to Dernco and the purchase order to the material suppliers. The County shall provide copies of the County checks and disbursements to Derrico and the material suppliers. S. The Owner acknowledges that the County is affording economies of scale to Owner by structuring the required water facility construction as set forth herein and, therefore, Owner acknowledges the obligation to promptly review and pay all such pay requests, pre -paid application fee, and invoices. 6. The Owner acknowledges and agrees that it has the present ability to obtain a loan to provide payment of all of the amounts set forth in this Agreement. 7, Merger: Modification, This Agreement incorporates and includes all prior and contemporaneous negotiations, correspondence, conversations, agreements or understandings applicable to the matters contained herein and the parges agree that there are no commitments, agreements, or understandings of any nature whatsoever concerning the subject matter hereof that are not contained in this document. Accordingly, It is agreed that no deviation from the terms hereof shall be predicated upon any prior or contemporaneous representations or agreements, whether oral or written. No alteration, change, or modification of the terms of this Agreement shall be valid unless made in writing and signed by the Owner and the County. 9. G venin w' Venue. This Agreement, including all attachments hereto, shall be construed according to the laws of the State of Florida. Venue for any lawsuit brought by either party against the other party or otherwise arising out of this Agreement shall be in Indian River County, Florida, or, in the event of federal jurisdiction, in the United States District Court for the Southern District of Florida. lo. Severabili . If any term or provision of this Agreement, or the application thereof to any person or circumstance shall, to any extent, be held invalid or unenforceable for the remainder of this Agreement, then the application of such term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable shall not be affected, and every other term and provision of this Agreement shall be deemed valid and enforceable to the extent permitted by law. 11. Availability of Funds. The obligations of the County under this Agreement are subject to the availability of funds lawfully appropriated for its purpose by the Board of County Commissioners of Indian River County. 12. No Pledge of Credit. The Owner shall not pledge the County's credit or make it a guarantor of payment or surety for any contract, debt, obligation, judgment, lien, or any form of indebtedness. 13. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original copy and all of which shall constitute but one and the same instrument. 2 09/0412008 18:24 bbl- ern-bi1G LMk. u,iL.ii�". 14. Noti s. Any notice, request, demand, consent, approval, or other communication required or permitted by this Agreement shall be given or made in writing and shalt be served, as elected by the party giving such notice, by any of the following methods: (a) Hand delivery to the other party, (b) Delivery by commercial overnight courier service, or (c) Mailed by registered or certified mail (postage prepaid), return receipt requested at the addresses of the parties shown below: County: Indian River County Attn: Gordon Sparks, Project Manager 1801 27h Street, Vero Beach, FL 3296Gw3365 Phone: (772) 226-1823 Owner; WILLIAM D. LAIN REVOCABLE TRUST Attn: William D. Lain 9760 Riverview Drive Micco, FL 32976 Phone: (772) 664-6707 Notices shall be effective when received at the address as specified above, Either party may change its address, for the purposes of this section, by written notice to the other party given in accordance with the provisions of this section. 15, Survival. Except as otherwise expressly provided herein, each obligation in this Agreement to be performed by Owner shall survive the termination or expiration of this Agreement. 16. Construction, The headings of the paragraphs of this Agreement are for the purpose of convenience only, and shall not be deemed to expand, limit, or modify the provisions contained in such paragraphs. All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine or neuter, singular or plural, as the identity of the party or parties may require. The parties hereby acknowledge and agree that each was properly represented by counsel and this Agreement was negotiated and drafted at arm's-length so that the judicial rule of construction to the effect that a legal document shall be construed against the draftsperson shall be inapplicable to this Agreement IN WITNESS WHEREOF, the County and the Owner have caused this Agreement to be executed in their respective names as of the date first set forth above. Owner: WILLIAM D. LAIN REVOCABLE TRUST By: Willi m L "n (Sign) Witness: �c Printed name: INDIAN RIVER COUNTY BOARD OF COUNTY CO under k' Ba)Fd, County Administrator / of agenda Item 12.15 August 12,2008 as to Marian E. Fell, Senior 3 sufficiency: County Attorney