HomeMy WebLinkAbout2006-283 t 08/ 09/ 2006 10 : 56 7725694317 COATTY PAGE 02
Seasons , P . D.
�4 • uu
THIRD
MODIFICATION TO
CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS
NO. PD •01 -08-18-CFC (99110063-26994)
THIS MODIFICATION , made and entered into this 22nd day of
August 2006 , by and between M-R Homes, Ltd. , a Florida limited
partnership , 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 entered into a Contract for Construction of
Required Improvements No . PD-01 -08- 18-CFC (99110063-26994 )
guaranteeing the completion of certain required improvements within the plat of
Seasons , P. D . on or before February 12 , 2003; and
WHEREAS , the completion date for the improvements under the Contract
for Construction of Required Improvements was extended to February 12 , 2004
by Modification to Contract for Construction of Required Improvements ; and
WHEREAS , on May 4 , 2004 the Board of County Commissioners
approved a Second Modification to Contract for Construction of Required
Improvements No . PD-01 -08- 18-CFC (99110063-26994 ) to further extend the
time to complete the remaining required improvements; and
WHEREAS , the developer is further requesting an extension to
September 30 , 2006 to complete the required sidewalks for Lots 53 , 82-8 , 87-897
and 91 ; and
WHEREAS , the surety supporting the completion of the sidewalks is a
Bank of America Irrevocable Standby letter of Credit No . 3063088 which has
been amended to ( 1 ) reduce the amount necessary to complete the remainder of
the required sidewalks per an approved certified cost estimate attached hereto ,
and (2 ) extend for the required 90-day period following the newly extended time
for performance,
NOW, THEREFORE , IN CONSIDERATION OF THE MUTUAL
COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as
follows :
1 . The date for completion of the " remaining required sidewalk
improvements is extended to September 30 , 2006 .
08 / 09 / 2006 10 : 56 7725694317 COATTY PAGE 03
2 . The consideration for the extension is amended Bank of America
Irrevocable Standby Letter of Credit Number 3063088 , in the amount of
$ 11 , 220 . 00 guaranteeing the completion of the sidewalks for Lots 53 , 82-84 , 87-
89 , and 91 with an expiration date of December 31 , 2006 (copy attached ) ; and
3 . All other terms set out in the Contract for Construction of Required
Improvements No. PD-01 -08-18-CFC (99110063-26994 ), as modified , 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 .
M-R HOMES, LTD. , a Florida limited
partnership DEVELOPER
By! M -R HOMES, INC ., a Florida
corporation , Goner rt
By:
ona C. Mai s
Vice President
INDIAN RIVER COUNTY, FLORIDA
by and through its Board of County
Commissioners
Arthur R. NeuberocfewChairm
BCC ratified : 08 / 22 / 06
ATTEST: J . K . Barton , Clerk of Court
Deputy Clerk
APPROVED AS TO FORM
AND LE A SUFF IE EY
BY
WILLIAM K .' DESAAAL
^ SSISTANT COUNTY ATTORNEY
2
FRAttomey\Nancy\DOCS\PLANIMODIFICATION 3 TO K for cons seasons.doc
INDIAN RIVER COUNTY , FLORIDA
MEMORANDUM
DATE : July 28 , 2006
TO : William G. Collins, 11, County Attorney
THROUGH: Christopher J. Kafer, Jr. , P.E. , County Engine r
FROM : William B . Eubank, Jr. , Senior Engineering Inspector ��
SUBJECT: Seasons Community— Interior Sidewalk Bond
REFERENCE : PD-00-05 -09 / LDP #99110063-24744
The enclosed engineer' s certified cost estimate and quantities have been reviewed and are found to
be satisfactory. The total amount of the bond is $ 11 ,220.00 ($8 ,976 .00 x 125 %)
This project' s sidewalks have been inspected by the Engineering Division staff and found to be
satisfactory except the sidewalk has not been installed in front of lots 53 , 82-84, 87-89, and 91 . The
existing surety is to expire on August 7 , 2006 and this new surety is its replacement.
If you have any questions, please call me at extension 1451 .
WBE/wbe
cc: Jason Brown, Budget Manager
D . Howard, Jr. , Construction Coordination Manager
Mark Zans, Senior Planner, Current Development
Peter J. Van Rens , P.E. , Kimley-Horn and Associates , Inc .
FAEngineering\Land Development Permits\Seasons Community\Seasons New Interior Sidewalk Bond Memo-7-28-06-wbe.doc
" Kimley-Horn
and Associates, Inc.
7/20/2006
Seasons at Orchid Job No. 047295000
Engineer's Opinion of Probable Costs For Construction and Engineering
Not Complete by Time of Plat Approval - Sidewalk
ITEM UNIT QUANTITY UNIT COST COST
CONSTRUCTION
Sidewalk at Lots 53, 82-84, 87-89, 91 SF 1 ,760 $5. 10 $8 ,976 .00
subtotal $8 ,976 .00
GRAND TOTAL $8,976.00
SECURITY (125%) $11 ,220.00
I , Peter J . Van Rens, a Florida registered engineer, License #55553, do hereby certify to Indian
River County that an opinion of probable cost has been prepared under my responsible direction for
those improvements itemized in this exhibit, and that the total opinion of probable cost for said
improvements is $ 11 ,220 .00 . This opinion of probable cost has been prepared for the purpose of
establishing surety amounts associated with items not complete by the time of approval of the plat.
JUL 28
INDIAN PttIVER COUNTY
ENGINEERING DIVISION
Page 1 of 1 G/47295000/eng/On-SiteSidewalkBondopc.xls
l
Bankof America �%�
PAGE : 1
DATE : MAY 6 , 2004
IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER : 3063088
BENEFICIARY APPLICANT
INDIAN RIVER COUNTY M - R HOMES , LTD .
BOARD OF COUNTY COMMISSIONERS - 1300 N . FLORIDA MANGO ROAD
1840 25TH STREET WEST PALM BEACH , FLORIDA 33409
VERO BEACH , FL 32950 ATTN : BRUCE MnLASKY
AMOUNT
USD 18 , 257 . 40
EIGHTEEN THOUSAND TWO HUNDRED FIFTY
SEVEN AND 40 / 1001S US DOLLARS
EXPIRATION
MAY 71 2005 IN HIALEAH , FL
GENTLEMEN :
BY ORDER OF M - R HOMES , LTD . , A FLORIDA LIMITED PARTNERSHIP , BANK OF
AMERICA , N . A . HEREBY ESTABLISHES AN IRREVOCABLE LETTER OF CREDIT NO .
3063088 IN YOUR FAVOR IN THE AMOUNT OF $ 18 , 257 . 40 EFFECTIVE AS OF MAY
71 2004 AND EXPIRING AT OUR OFFICE AT THE CLOSE OF BUSINESS ON MAY 71
2005 .
THIS LETTER OF CREDIT SHALL AUTOMATICALLY EXTEND TO AUGUST 7 , 2006
UNLESS BANKOFAMERICA , 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 EXTEND THE
LETTER OF CREDIT AT LEAST 90 DAYS PRIOR TO THE . CURRENT EXPIRATION
DATE . 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 , N . A . 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 . 3063088 ,
ACCOMPANIED BY A STATEMENT SIGNED BY AN AUTHORIZED OFFICER OF THE
BOARD OF COUNTY COMMISSIONERS STATING " PURSUANT TO . THE CONTRACT FOR
CONSTRUCTION OF REQUIREMENT IMPROVEMENTS BETWEEN M - R HOMES , LTD . AND
INDIAN RIVER COUNTY , RELATING TO SEASONS , PD WHICH CONTRACT IS
NUMBERED NO . PD - 01 - 08 - 18 - CFC ( 99110063 - 26994 ) , M - R HOMES , LTD . HAS
DEFAULTED UNDER THE TERMS OF THE AFOREMENTIONED CONTRACT FOR
CONSTRUCTION OF REQUIRED IMPROVEMENTS , ( AS MODIFIED ) - AND THAT THE
AMOUNT OF THE DRAFT REPRESENTS THE AMOUNT REQUIRED BY THE COUNTY TO
FULFILL THE PERFORMANCE OF SAID CONTRACT FOR THE CONSTRUCTION OF
REQUIRED IMPROVEMENTS , MORE SPECIFICALLY INTERNAL SIDEWALKS AND
SIDEWALK @ CONTRUCTION ENTRANCE . " DRAFT PRESENTED FOR PAYMENT UNDER
THE CREDIT SHALL BE MARKED , " DRAWN ON IRREVOCABLE LETTER OF CREDIT
NO . 3063088 OF BANK OF AMERICA , N . A _ "
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 , AS
SPECIFIED HEREIN .
ORIGINAL
Bink ofAmaic NA. Trade Op tFFFa
Mall Code: CA 703-19-09
3335. Buutly AvmuS 19N Flom, l gryelq CA 90017
00.33-020WSB 9-1999 CA919
BankofAmerica
PAGE : 2
THIS IS AN INTEGRAL PART OF LETTER OF CREDIT NUMBER : 3063088
THIS LETTER
OF CREDIT
PUBLI CATIONN
TTO 590 . INTERNATIONAL STANDBY
PRACTICES
IcC
IF YOU REQUIRE ANY ASSISTANCE OR HAVE ANY QUESTIONS REGARDING THIS
TRANSACTION , PLEASE , CALL 305 - 819 - 7662 .
�
_ _ _ _ _ _ _ _
THOR ZED SIGNATURE AUTHORIZED SIGNATURE
EUNSON BRE
MANUELBANUELOS
ORIGINAL
Mail CVEc CA9-703-19-09
333
333 S. Besuery Avenue, 19N Fl, Lvs Angelo, G 90017
00.35-02o2 SB 9-1999_CA9 19
r'
Bank ®fAmerica -19'Woo
BANK OF AMERICA - CONFIDENTIAL PAGE : 1
DATE : JULY 21 , 2006
AMENDMENT TO IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER : 3063088
AMENDMENT NUMBER 1
BENEFICIARY APPLICANT
INDIAN RIVER COUNTY M - R HOMES , LTD .
BOARD OF COUNTY COMMISSIONERS 1300 N . FLORIDA MANGO ROAD
1840 25TH STREET WEST PALM BEACH , FLORIDA 33409
VERO BEACH , FL 32950 ATTN : BRUCE MALASKY
THIS AMENDMENT IS TO BE CONSIDERED AN INTEGRAL PART OF THE ABOVE CREDIT
AND MUST BE ATTACHED THERETO .
THE ABOVE MENTIONED CREDIT IS AMENDED AS FOLLOWS :
THE AMOUNT OF THIS CREDIT HAS BEEN DECREASED BY USD 7 , 292 . 40
THE AGGREGATE AMOUNT OF THE CREDIT IS NOW USD 10 , 965 . 00
THE EXPIRATION DATE IS AMENDED TO : DECEMBER 31 , 2006 .
THE AUTOMATIC EXTENSION CLAUSE IS NO LONGER IN EFFECT .
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED .
THIS AMENDMENT WILL BECOME EFFECTIVE UPON OUR RECEIPT OF THE BENEFICIARY ' S
WRITTEN ADVICE OF CONSENT PURPORTEDLY SIGNED BY AN AUTHORIZED SIGNOR OF
THE BENEFICIARY , SENT TO US ATTENTION OF EUNSON BAE . IF THE BENEFICIARY
CHOOSES , THEY MAY SIGN AND RETURN THE ATTACHED COPY INDICATING THEIR
CONSENT OR REJECTION .
IF YOU REQUIRE ANY ASSISTANCE OR HAVE ANY QUESTIONS REGARDING THIS
AMENDMENT , PLEASE CALL 305 - 819 - 7662 .
r4 - - -- V
FUTHORIZED SIGNATURE
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
- - - - - - - - -
AMENDMENT ACCEPTED AMENDMENT REFUSED
DATE
ORIGINAL
Banc ofAmenca, N.A. Trade Operations
CA9405-07-05
1000 W. ]ample St , Los Angeles, CA 90012-15140
00-35-0201NSB 10-2005
Bank ®fAmerica
Letter of Credit No. 3063088
BANK OF AMERICA - CONFIDENTIAL PAGE : 2
SIGNATURE
PRINTED NAME
TITLE
PHONE NUMBER
THIS DOCUMENT CONSISTS OF 2 PAGE ( S ) .
ORIGINAL
Ce - ofA07-05 N.A. '[tale Opesarions
1000 W. Temple SL, Las Angeles, CA 90012-15140
00-35-0201NSB 10-2005
ankofAmerica 4
BANK OF AMERICA — CONFIDENTIAL PAGE : 1
DATE : AUGUST 4 , 2006
AMENDMENT TO IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER : 3063088
AMENDMENT NUMBER 2
BENEFICIARY APPLICANT
INDIAN RIVER COUNTY M — R HOMES , LTD .
BOARD OF COUNTY COMMISSIONERS 1300 N . FLORIDA MANGO ROAD
1840 25TH STREET WEST PALM BEACH , FLORIDA 33409
VERO BEACH , FL 32950 ATTN : BRUCE MALASKY
THIS AMENDMENT IS TO BE CONSIDERED AN INTEGRAL PART OF THE ABOVE CREDIT
AND MUST BE ATTACHED THERETO .
THE ABOVE MENTIONED CREDIT IS AMENDED AS FOLLOWS :
THE AMOUNT OF THIS CREDIT HAS BEEN INCREASED BY USD 255 . 00
THE AGGREGATE AMOUNT OF THE CREDIT IS NOW USD 11 , 220 . 00
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED .
IF YOU REQUIRE ANY ASSISTANCE OR HAVE ANY QUESTIONS REGARDING THIS
AMENDMENT , PLEASE CALL 305 - 819 - 7662 .
> ! { F
— - - - - - - - - - - - - - - - - - - - - - - - -
THORIZED SIGNATURE
THIS DOCUMENT CONSISTS OF 1 PAGE ( S ) .
Bolo HL
ORIGINAL
Bm ofAmenc; N.A. Tmde Operations -
CA9-705-07-05
1000 W Temple St, Los Angeles, CA 90012-15140
00-35-0201NSB 10.2005