HomeMy WebLinkAbout2004-139B ' Jun 07 04 08 : 04a Indian River County 772 - 770 - 5095 P . 8
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1R Diamond Lake Subdivision , Phase 1 - Certificate of Completion
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CASH DEPOSIT AND ESCROW AGREEMENT
-� THIS AGREEMENT is entered into this '7 day of
--au of , 2004 , by and between Sunland Development, Inc . , a Florida
corporation ( Developer) , and INDIAN RIVER COUNTY , a political subdivision of the
State of Florida (County) ;
WITNESSETH ;
WHEREAS , Developer has effected a subdivision of certain property
within Indian River County known as Diamond Lake Subdivision , Phase One , and is
required to provide surety supporting a contract ( numbered SD-03 -03- 12CFCPH1
(2002040141 ) , and as modified , with the County for the construction of certain
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 Sixty-Two Thousand Five Hundred Ten
and 551100 Dollars ($ 62 , 510 . 55) , 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 and Modification to Contract for
Construction of Required Improvements , 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 . 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.
E IE !
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4 . 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 .
5 . Any interest earned during the term of escrow, less administrative
expenses , shall be disbursed to Developers at close of escrow.
6 . 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 .
7 . 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.
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 .
SUNLAND DEVELOPMENT, INC . , a Florida
corporation
DEVELOPER
By. � "X]:: A
Frank Young , CEO
z
FAaUomeylnancy\DOCS1pLANlcash deposit for Kdiamond lake phase Ldoc
e
BOARD OF COUNTY COMMISSIONERS
OF INDIAN RIVER COUNTY, FLORIDA
Caroline D . Ginn , Chairm
Attest: Jeffrey K, Barton, Clerk BCC approved: June 15 . 2004
B �— �
Deputy Clerk
Officea gement Bid t
By:
Jason . Bro n, Budget a ager
Approved as to form and legal
sufficiency,
William G . Coltins 11
County Attomey
3
FAattomeylnancyTOMPLAW cash deposit for K diamond lake phase I -doe
p . 11
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coiporatc, for use with
loner of credit
CONTRACT FOR CONSTRUCTION OF REQUIRED �pROVEMENTS
NO. SD-03-Qg _� 2CFCPHI (200204pT41 )
THIS CONTRACT, rade and entered into this 1`
bV U(�Y 2Q04 by and between Sunland D day of
rporation, hereinafter referred to as "Developer, " ande INDIAN RIVER cCO Florida
political subdivision of the State of Florida, ' by and through its Board of a
Commissioners, hereinafter referred to as "Coin
WITNESSETH ;
WHEREAS , Developer is commencing proceedings to affect a subdivis '
of land within Indian River County, Florida ; and ion
WHEREAS , a final plat of the subdivision within the unincorporated area
of . Indian River County shall not be recorded 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 approval and recordation of a cert
plat to be known as Diamond Lake Subdivision , Phase One; and aln
WHEREAS, the required improvements are to be installed after
recordation of this plat 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 on or before
a in a good and workmanlike . .- manner, those
improvements described as follows :
See Exhibit "A" attached hereto .
or otherwise required by the Indian River County Code in connection with the approval
of said plat. A copy of the plat shall be recorded in the Public Records of Indian River
County, Florida upon the final approval of the Board of County Commissioners and
made a part hereof for -all purposes.
1
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Jun 07 04 08 : 06a Indian River County 772 - 770 - 5095 p . 12
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2 Developer agrees to construct said improvement
accordance with the land development permit, the most recent s strictly in
specifications for this subdivision approved by the County and a file
of plans and
and Development Division , and all County development regulations and
including conditions and requirements of any applicable Countyn tits Planning
Of which are hereby incorporated by reference and made a art he standards,
right-of-way perrn�, all
P roof,
3 • In order to guarantee performance of this contract, Developer simultaneously herewith furnish an irrevocable letter
of credit, having an expiration shaill
Of not less than ninety (90) days beyond the date set forth in Paragraph. p tion date
a banking institution authorized to transact such business in this state
1 , provided by
%
approved by the County, namin ' P n a form to be
S I • g iL 9 Develo Developer as customer and
under4MtIng._.bani�i - the -amou
whic
hundred fifteen percent ( 115% ) of the . estimated total cost amount
fIm trovem less than one
to be constructed, as deteirrnined In accordance with the County's Subdivision a
Platting Ordinance. It is the that the full amount P ems remaining
remain available to the County and shall not be reduced the letter of credit shay
course of
construction unless approved in writing by the County's Public Works Director u suant
to Indian River County Code Section 913. 10. Requested reductions shall n
unreasonably withheld by the County. Developer may at any time substitute
guarantees . subject . to the approval as to form and amount by the County. to
41. Up to $ 1 , 000 , 000. 00 , or the limits of an
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 dams e
loss of life, arising from the ' negligent acts or omissio s of he Developer,,bodilyersonal or i sl oftlee sr
.
employees, agents, or contractors , subcontractors , laborers , or suppliers , relating to the
construction of the required improvements, including 'all those improvements to be
constructed on existing publicly dedicated or County-ownedro e
sidewalk, bikepath , lighting, signalization , traffic control , drainage water or sucassereet
wer
Improvements .
5 . The County agrees to approve the plat for recordation in the Public
Records of Indian River County, Florida upon a finding as to compliance With all
applicable provisions of the County's Subdivision and Platting Ordinance and upon
execution hereof. The County shall accept those areas specifically dedicated to the
County for the purposes indicated on the plat at the time of plat recordation . However,
nothing herein shall be construed as creating an obligation upon the County to perform
any act of construction or maintenance within such dedicated areas until such time as
the required improvements are satisfactorily completed . . Satisfactory
accordance with the land developmcompletion in
ent permit, plans, specifications, and ordinance
a
FelattomeyMMYM.)pC-SOLAfor con w 1w diamond lakel.doc
Jun o7 04 08 : 06a Indian River County 772 - 770 - 5095
requirements of Indian River County shall be determined by the
indicated by specific written approval of the Public Works Dire
representative, after receipt of a signed and seated C County and shall be
nated
Project engineer of record , Certificate of Completion from the
64 In the . .event the Developer shall fail or. neglect to
- obligations under this contract and as required by the Indian River
Developer, as principal, and the let#er(s ) of credit shalt be 'ointl fulfill Its
- County Code , the
Pay for the cost of construction and Installment of the r Y and severalty liable to
total cost, including but not limited to engineering, construction le
costs , including reasonable attome 's fee equ+red improvements to the final
damages , either director consequential , which the County gal and contingent
y the County, together with any
the failure of Developer to cant' out and execute all Provisions su taiin as a result of
applicable ordinances of Othe Coon ! n no contract and
n ng an Shall t
un er this paragraph exceed the
total amount of the
obligation stated. inthe letters) of credit, less any approved reductions thereto original
70 The. parties agree that the County at its option shall have the right,
but not the obligation , to construct and install or, pursuant to recet t
cause #o be constructed and installed the required im Improvements
Developer shall fall or refuse to do so in accordance p of competitive bids,
Developer expressly agrees that the County co d p nts In the event
with the terms of this contract.
letters) of credit for the final total cost of the improvements , d Develo per -s the existing
wholly liable for any resulting deficiency, P halt remain
to Completion of the required improvements , n no event shall the etter(s) Of �Cou�y be obligated prior
to expend public funds , or any funds other than those Provided by the Developer, or
underwriting bank to construct the required improvements . �' be obligated
P � the
$ • Any letters) of credit provided to the County by Developer
respect to this contract shall -exist- solely for the use and benefit of the County and shah
not be construed or Intended in any way, expressly or impliedly, to benefit or secure
P to any subcontractor, laborer, materialman or other party providingla
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 ,
9 .
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 shalt. be in writing, executed by authorized representatives of both parties,
3
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Jun 07 04 M 07a Indian River County 772 - 770 - 5095 p . 14
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IN
seals on the dam"TNESS • WHEREOF, the parties hereto have set thei
y and year first above Written , r hands and
SUNLAND DEVELOPMENT, INC., a Fivrida
corporation
WITNESSES: DEVELOPER
sign:
print ' n e , 11/1'A n/ By.
Frank Young, President
Print name:
(afrx corporate seal)
INDIAN RIVER ' COUNTY, FLORIDA
By: "
Caroline D. Ginn , Chai n
ATT effrey K. Ba lerk Board of County Commissioners
By: 4� � . BCC approved : 03 - 23 - 2004
Deputy Clerk
APPROVED AS TO FORM
AND LEGAL SUFFiCIEN ;
r
By:
lliam G . ollin5 II
County Attorney
4
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1680 W. Hibiscus Blvd Suite B
Melbourne , Florida 32901
DUMOND LAKE
PELASE y
SUMMARY
CATEGORY, TOTAL . y
ADDITIONAL ITEMS $ 55 75 . 00 .
LAND
WALL $ 69 , 725 , 00
a-
PAVING , DRAINAGE ,
WATER; SEWER o W„�T.�Y
. $ 7641767055 � 5 ` ��i �
. Zjt • j0�1
TOTAL . $ 93410 a 0005
vo
EEX " All
F7
Jun 07 04 08 : 07a Indian River County 772 - 770 - 5095 p , 16
i
GIN
1.680 W. Hlbiscus Blvd Suite B
Melboume , Florida 32901
DLWOND LAKE
PHASEI
CERTU"IED COST EMIRATE
Ak.DDMOAAFL, �,c
ITEM VANITY U` UNIT
-IT$ TOTALS
STREET LIGHTS 5
EA • 2 ,000 . 00 101000 . 00
SURVEYING INCL.
000 . 00 8 , 000 . 00
ENGINEERING 1 LS
8 , 000 . 00 81000000
PUMP WELL/
IRRIGATION 1 EA 151000 . 0.0
15 , 000 . 00
PUMP WELL/
IRRIGATION 1 EA 71500 . 00
71500 . 00
-..SUBTOTAL S 4.8 , 500 . 00
+ i5% S 7, 275 . 00
TOTAL S 55, 775 . 00
I
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PPE * 34009 '. 4
r
Po 17
. _ . _ . _
1680 W. Hibiscus
Blvd
MGIb0uMe, F10Hda 32901SB
DIAMOND L&rt� g
PHASE i
C£It'I'I [�D COST ATE
I-�ADSC��IR6 .
BASED ON THE ATTACHED ITEMIZED B �.
THE LANDSCAPING ARCHITECT FqR THE PROJECT. TI-i
BREAKDOWN (COPYATTgCHED) PROVIDED TS A13YCERTIFIED E FOLLOWING COS
NO .
tGA
SUBTOTAL ,
SOUTH BUFFER (AC, BUFFER) 23 , 307.00 .
SUBTOTAL $ 14, 721 .00
SUBTOTAL. $389028. 00
+ 15% $ 5, 705. 00
TOTAL $ 43, 733. 00
AA
SO . KA
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Q Diamond Lake -
Q Phase t Re
Noah suffer ulre Planting - O Inlon of CosFIND It
C R EB N c/1 Q
2? � B9 T J E C O
1, Pd! 8 PWUB ELLIOTTI ON NOLL /ted s
B OC! T 8U8 P E i x , 11' 111, ITC S S B. OG
200 P OH B QE 0' OA AS, L CA OP
60 IRO DCQRA Ilpiu 911
1:1011ER 0 E FULL CANOPY $ 60,00 S3 3D0.00
401 M9 "BURNUMBUSPEH UM P1NKUfORA h� X 70.0, 163.0° S 460. op
E0. R BB / OR ND0O AND KWA Vg1W NUMI & x go
O) 70 RB HEJill b IIIII2' xr 2' O,C: FULL A THICK 310.00
O 110 NEM' T O IB 618 P APLE T O. C. FULLBhOCK 3 !0,00 32ooD, 00
In 711 • NEPNROPNYUB BIB 3800,00
NEW HEPNROLEpISEXpLTTA BRRATA MA¢HOFERN +/ 1, 12• x Z• 24. OA, i1o,00 J4o40.0�
BOr1TONFEfiN rl, 8' x12• 24. 0,0, FULL THICK 3000
room180, DICAPlI B II ll Ir '18. 0.C, • FULL6 3420, 00
� e3 SHREDDEDOYPRE88 ULc THICKIIIIIIJill Seoul 3760100
1 D Ii(U RE RKe/0 a RI84 oaf) go
SUB TOTALiIlloollilloolle
T PLANTS uo eeB as
LUMP 8UM 06 of 0 3' DEEP I ST SUB-TOTAL
C` t0oDA0RIFo M20 10 8 - 21 0 $2700 31, 70L00
• TABLET8 06°.00 '
SoLilh Quffer TOTA LANDSCAPE oar sue TorAL - �xTRAs eSD, DD.
x : 361 .06
11111111111 11 111111111eOP O E T T A
RIM $21, 307, 00
p EJillS12P s C v �-•�
ITROEMIA
1J INC' WRIC/LCERIFERAIN CRmelon
EPEMYRTLE 'REp' 10 XB', CA g CO
WAX'MYIITL3! 5 Ori , Y L C op , 6 C.T, B- TO
32 R~ C QRUBEERCU6 NRQIN OAK y CAL All FULL CANppY, MULTR7RUNK 3260.00
D B 6' OA • 1' CAL A.B, 1 ,500.00
c 52 E E B 10• x 6' r C AB FULL CANOPY, MULTI-TRUNK 3150,00 31.200, DE)
7 81 E FULL CANOPY 3' CO , IN 3160.0° 31 ,85°.00
C eC, D C E TEM$ NJ 2x2 r O Q $260,00 le °00.00
U 13 SHREDDED CYPRE88 MUL L
RT�BE al / D y 8U9 TOTAL • pLANTfe $ 620.0°
LCUSIoy , RE R SMESCRIPTKIN 114, 170. 00
LUM BUM 101 S. Qq J' EFS I COST 9 B TOTAL
oODAORIFORM 2a1a0 . 2f GRAM TABLETS 327.00 $331000
OTAL . 1 . TOTAL200 00 1200,00
NDSCAPE C 8T XTRAS 1661900
TOTAL PHAGE f PROJEANDSCAPE C08T _ $ 14
T L1T21coo
$ 381028 . 00
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inuian River uounL - 5095
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1680 W. HbiSCUS Blvd Suite 6
Melbourne, Florida 32901
DUROND
f'St4.S£ X
CERT COSI' EMWAT£
FOR HALL
BASED ON THE ACTUAL WALL
CONTRACT (COPY ATTACHED) FOR THE PROJECT THE
FOLLOWING COSTS ARE CERTIFIED:
NORTH BUFFER
NR$ TOTALS
6" MODULAR
WALL 740
LF
43/LF .
31 , 820. 00
ITEM * QUANITY SOUTH BUFFER
- ---- .
UNIT UN
6" MODULAR I TOTALS
WALL 670 > .
LF
. ' 43 /LF 28 , 810. 00
SUBTOTAL $60, 630 . 00
+ 15% $ 97095. 00
TOTAL $ 69 , 725. 00
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Jun 07 04 08 : 10a Indian River County 772 - 770 - 5095
p . 23
1680 W. Hibiscus Blvd Suite B
Melboume, Florida 32901
DIAMOND LAKE
PHASE 1
CERTIFIED COST ESTIMATE
PAVING, DRAINAGE, WATER, AND S
BASED THE ACTUAL ITEMIZED ' CO AVER IMPROVEMENTS
• THE PROJECT THE FOLLOWING AMOUNNTS ARE CFRT�ED FOR WORK ,
THAT HAS, BEEN COMPLETED AS OF JANUARY 23 , 2004, K
ITEM OTAL
COMPL D
ATOTS
MOUNT y 1R3Po4 . — .
REM A--- 1tiNG
MISCELLANEOUS $ 123 ,412. 60
$ ' 97, 540 . 00 $ 25 ,872. 60
CLEARING &
DEMOUTiON $ 14D , 130 . 00 -
�$ 121 , 880 , 00 $ 18 , 250.00 --
EARTHWORK &
GRADING $4.95, 622. 50
$495, 822:50
STORM DRAIN - $ 1831360 . 85 $ 62 ,443 . 15
$ 120 , 917. 70
SANITARY SEINER A)$ 286 , 426600 $ 143 ,
$ 143 , 176. 00
. ) $ 110 , 189 . 25
0)$ 1041153 . 80 - $ 102 , 853 , 80 $ 110 , 189 . 25 L .
$ 1 , 300 . 00 10
POTABLE WATER $ 76 , 730 . 00
-0 $ 761730 . 00 vpw V
CONCRETE CURBING $ 36, 705. 00 o � e h
_0_ $ 36 , 705. 00
ROADWAY 5169 , 534 . 00 $ 46 , 075 . 00
�i $ 123 , 459 . 00
GRASSING $ 25 , 160 . 00
$ . 16 , 745 . 00 $ 81415 . 00
SUBTOTAL 5665 , 074, 55
+ 16 % $ 99 , 753. 00
TOTAL. $764, 767. 55
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