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Home My WebLink About2007-111 . rr The Lakes at Sandridge, Phase 1 ATRUECOPY MODIFICATION TO CERTIFICATION ON LAST PAGE J.K. BARTON, CLERK WARRANTY AND GUARANTY AGREEMENT, AND BILL OF SALE FOR REQUIRED IMPROVEMENTS CONTRACT NO . PD-03 -07-17-WGPH1 (2002120179-38772) THIS MODIFICATION , made and entered into this 3rd day of April , 20071 by and between IRC DEVELOPMENT, L. L.C . , a Florida limited liability company, 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 , the final plat for The Lakes at Sandridge Phase 1 was approved by the Board of County Commissioners of Indian River County on August 10 , 2004 ; and WHEREAS , in order for the project to receive a Certificate of Completion , on October 31 , 2005 the Developer entered into a Warranty and Guaranty Agreement , and Bill of Sale for Required Improvements Contract No . PD-03-07- 17-WGPH1 (2002120179-38772) to warranty road , drainage and sidewalk improvements within The Lakes at Sandridge Phase 1 for a period of three years from the date of final inspection of the required improvements ( 10/21 /05 to 10/21 /08 ); and WHEREAS , in support of said Warranty and Guaranty Agreement , and Bill of Sale for Required Improvements , the Developer posted $ 135 , 387 . 50 cash , and executed a Cash Deposit and Escrow Agreement; and WHEREAS , on October 24 , 2006 the Developer appeared before the Board of County Commissioners requesting that the Board release the Developer from the remaining two years under the Warranty and Guaranty Agreement; and WHEREAS , the Board , on October 24 , 2006 , directed a refund of the $ 135 , 387 . 50 to the Developer so long as an inspection be performed and any deficiencies corrected ; and WHEREAS , an inspection revealed no outstanding deficiencies , however, staff voiced a concern regarding cracked curbing at the development, repaired by epoxy rather than the cracked curbing being removed and replaced ; and WHEREAS, Developer agreed to submit its engineer' s certified cost estimate , attached as Exhibit "A" , so that the County could withhold from the return of the $ 135 , 387 . 50 funds that part of the warranty associated with the repaired curbing for an additional two years to warranty the repaired curbing , NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as follows : 1 . The amount of $ 12 , 127 . 50 representing the warranty amount for the repaired curbing for an additional two years , ending October 21 , 2008 is acceptable . 2 . From the total amount of $ 135 ,387 . 50 held in escrow by the County, the amount of $ 123 ,260 .00 can be returned to the Developer, with the amount of $ 12 , 127 . 50 remaining in escrow through October 21 , 2008 as warranty for the curbing . 3 . All other terms set out in the Warranty and Guaranty Agreement, and Bill of Sale for Required Improvements Contract No . PD-03-07- 17-WGPH1 (2002120179-38772 ) 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 . IRC DEVELOPMENT, L. L. C . , a Flon a//li��mited Iia Ity co pony By7i - William . Sims , Jr , Manager INDIAN RIVER COUNTY, FLORIDA by and through its Board of County Commissioners Gary C . heeler, Chairman BCC approved : 04 / 03 / 07 ATTEST: J . K. Barton , Clerk of Court �p sraTEOF0FFLOR— ID-. BY' �0. INDIAN RIVER COUNTY. Deputy Clerk THIS IS TO CERTIFY TNAT`mIS IS A TRUE AND CORRECT COPY OF APPROVED AS TO FORM AND TOFEALON FILEIN ,TNIS LEGAL SUFFICIENCY: '!`%14EYK I ^ n � 'T , CLERK ( a BY `'r '' .y � < William G . Collins II DATE j U County Attorney 2 F:\AttorneySNancy\DOCS\PLAN\modificafion warranty lakes at sandridge ph 1 .doc JOSEPH W. SCHULKE, P.E. SCHULKE , BITTLE & STODDARD , L . L . C . JODAH S. BITTLE, P.E. WILLIAM P. STODDDARD, Ph.D., P.E. CIVIL & STRUCTURAL ENGINEERING • LAND PLANNING • ENVIRONMENTAL PERMITTING Engineers Certified Cost Estimate — The Lakes of Sandridge Subdivision Phase I I, Joseph W. Schulke, P.E., a Florida registered engineer, License No. 47048, 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 original cost estimate for said Miami Curb improvements is $48,510 .00. Maintenance Surety in the amount of $ 12, 127.50 is equal to 25% of the estimated cost of construction. This estimate has been prepared, in part, to induce approval by the county of the Lakes of Sandridge Subdivision Phase d for the purpose of establishing proper surety amounts associated therewith. Date : i'L 10 ,7 Jos h W. S hulk , P.E. No. 47048 Page 1 of 2 1717 INDIAN RIVER BLVD., SUITE 201 , VERO BEACH, FLORIDA 32960 TEL 772 1770-9622 FAx 772 / 770-9496 EMAJLinfo@sbsengineers.com BOND AMOUNT FOR LAKES OF SANDRIDGE PHASE I 03 -08-07 DESCRIPTION UNIT I CE TOTAL GENERAL Phase I Miami Curbing LF 65930 $7.00 $482510.00 Subtotal $48,510.00 Bond Amount Equal to 25% of Total $129127.50 Date: ✓ 0 7 Jo eph W hulke FL g. 47048 3r ' � Y 4 Page 2 of 2 The Lakes at Sandridge, Phase 1 ATRUECOPY CERTIRCATION ON LAST PAGE MODIFICATION TO J.K. BARTON, CLERK CASH DEPOSIT AND ESCROW AGREEMENT THIS MODIFICATION , made and entered into this 3rd day of April 2007 , by and between IRC DEVELOPMENT, L. L. C . , a Florida limited liability company, 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 , the final plat for The Lakes at Sandridge Phase 1 was approved by the Board of County Commissioners of Indian River County on August 10 , 2004 ; and WHEREAS , in order for the project to receive a Certificate of Completion , on October 31 , 2005 the Developer entered into a Warranty and Guaranty Agreement, and Bill of Sale for Required Improvements Contract No . PD-03-07- 17-WGPH1 (2002120179-38772 ) to warranty road , drainage and sidewalk improvements within The Lakes at Sandridge Phase 1 for a period of three years from the date of final inspection of the required improvements ( 10/21 /05 to 10/21 /08 ); and WHEREAS, in support of said Warranty and Guaranty Agreement, and Bill of Sale for Required Improvements , the Developer posted $ 135 , 387 . 50 cash , and executed a Cash Deposit and Escrow Agreement ; and WHEREAS , on October 24 , 2006 the Developer appeared before the Board of County Commissioners requesting that the Board release the Developer from the remaining two years under the Warranty and Guaranty Agreement; and WHEREAS , the Board , on October 24 , 2006 , directed a refund of the $ 135 ,387 . 50 to the Developer so long as an inspection be performed and any deficiencies corrected ; and WHEREAS, an inspection revealed no outstanding deficiencies , however, staff voiced a concern regarding cracked curbing at the development , repaired by epoxy rather than the cracked curbing being removed and replaced ; and WHEREAS, Developer agreed to submit its engineer's certified cost estimate , attached as Exhibit "A" , so that the County could withhold from the return of the $ 135 , 387 . 50 funds that part of the warranty associated with the repaired curbing for an additional two years to warranty the repaired curbing , NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as follows : 1 . The amount of $ 12 , 127 . 50 representing the warranty amount for the repaired curbing for an additional two years , ending October 21 , 2008 is acceptable . 2 . From the total amount of $ 135 , 387 . 50 held in escrow by the County, the amount of $ 123 ,260 . 00 can be returned to the Developer, with the amount of $ 12 , 127 . 50 remaining in escrow through October 21 , 2008 as warranty for the curbing . 3 . All other terms set out in the Cash Deposit and Escrow Agreement 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 . IRC DEVELOPMENT, L. L. C . , a Floricja limited liabili ompany By William J ims , Jr. ,/Wanager INDIAN RIVER COUNTY, FLORIDA by and through its Board of County Commissioners By: Gary C . heeler, Chairman BCC approved,%.' 041.0 /07••' „ ATTEST: J . K. Barton , Clerk of Court STATE OF FLORICh . INDIAN RIVER COUNO(, THIS IS TO CERTIFY THAT THIS IS By A'�- �� A TRUE AND CORRECT COPY OF Deputy Clerk THE ORIGINAL ON FILE IN THIS OFFICE APPROVED AS TO FORM AND JEFFREYK. SARTON, CLERK LEGAL SUFFICIENCY: BY ,i �1N �GC =D7 � D. C. By: C.CJ � C� DATE y - •j U / William G . Collins II County Attorney 2 F:\Attorney\Nancy\DOCS\PLAN\modification cash deposit lakes at sandridge ph 1 .doc JOSE PH W. SCHULKE, P.E. SCHULKE , BITTLE & STODDARD , L . L . C . JODAH B. BITTLE, P.E. WILLIAM P. STODDDARD, Ph.D., P.E. CIVIL & STRUCTURAL ENGINEERING • LAND PLANNING • ENVIRONMENTAL PERMITTWG Engineers Certified Cost Estimate — The Lakes of Sandridge Subdivision Phase I I, Joseph W. Schulke, P.E., a Florida registered engineer, License No. 47048, 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 original cost estimate for said Miami Curb improvements is $48,510.00 . Maintenance Surety in the amount of $ 12, 127.50 is equal to 25% of the estimated cost of construction. This estimate has been prepared, in part, to induce approval by the county of the Lakes of Sandridge Subdivision Phase d for the purpose of establishing proper surety amounts associated therewith. - Date: Jos h W. Shulk , P .E.-, No. 47048 DI E Page 1 of 2 1717 INDIAN RIVER BLVD., SUITE 201 , VERO BEACH, FLORIDA 32960 TEL 772 / 770-9622 FAx 772 / 770-9496 EMAIL info@sbsengineers.com BOND AMOUNT FOR LAKES OF SANDRIDGE PHASE I 03-08-07 DESCRIPTION UNIT I QuANTrry JuNrr PRICE TOTAL GENERAL Phase I Miami Curbing LF 6,930 $7.00 $48,510.00 Subtotal $48,510.00 Bond Amount Equal to 25% of Total $12,127.50 Date: . 'li 47 Joeph F47' 048 alkeFl. _ g. " w @ r Page 2 of 2