HomeMy WebLinkAbout2003-034 CASH DEPOSIT AND ESCROW AGREEMENT
THIS AGREEMENT is entered into this 11 th day of February 2003 by
and between VILLAGE WALK SOUTH OF VERO BEACH, LLC (Developer),
and INDIAN RIVER COUNTY, a political subdivision of the State of Florida
(County):
WITNESSETH :
WHEREAS, Developer is effecting a development of certain property
within Indian River County and is required to provide surety supporting a Bill of
Sale of Utility Facilities within an easement for the maintenance of certain
required improvements related thereto, namely:
Sanitary sewer and potable water as out in the
attached Bill of Sale.
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 Eighteen Thousand Six Hundred
Twenty-Three and 31/100 Dollars, U.S. ($18,623.31), 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 Bill of Sale, which is incorporated herein by reference.
2. Upon completion of the maintenance period specified in the Bill of
Sale, the Developer may obtain a disbursement from the escrow account by
making a written request to Indian River County through the County's Utilities
Director. The request shall specify the amount of disbursement, and shall be
accompanied by a sealed certificate from Developer's engineer that the work for
which disbursement is requested remains in satisfactory condition 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 Utilities Director shall cause an inspection of the work for which
payment is sought. If the Utilities Director is satisfied in all respects with the work
and certifications, the Utilities Director shall approve the disbursement. Approval
of any disbursement shall be in writing delivered to the County Office of
Management and Budget. Upon receipt of the written approval of the
disbursement, the Office of Management and Budget shall make the
disbursement described therein directly to Developer, at the address specified in
the request for disbursement.
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4. Upon defect in the improvements warranteed under the Bill of Sale,
the county may utilize all funds remaining in the escrow account at the time
default is declared by the County. Said funds shall be disbursed to the County
upon receipt by the Office of Management and Budget of a written statement
from the Utilities Director that Developer has defaulted under the Bill of Sale and
that said funds are necessary to repair the improvements. All funds disbursed to
County in excess of the final amount determined necessary by the County to
repair the improvements shall be returned to Developer, its legal representatives,
successors or assigns, at the end of the guaranty period.
5. Any interest earned during the term of escrow shall be disbursed to
Developer at close of escrow less administrative expenses.
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 purchaser, while such funds remain subject
to this escrow agreement. The County shall not be liable to any of the
aforementioned parties for claims against the Developer or contractor relating to
the required improvements.
7. This Agreement, together with the Bill of Sale referenced herein, 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 effective date of this Agreement shall be the date of approval by the
Board of County Commissioners.
Signed in the presence of: VILLAGE WALK SOUTH OF VERO
sign C' BEAC C
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sign: G',
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Date: 1-31-03
2
OFFICE OF MANAGEMENT AND
BUDGET
Date: By: ,
! Jason :LUNTY wn, Bu t Manager
BOARD O
COMMISSIONERS OF INDIAN RIVER
COUNTY
By*
Date: 02-11-2003 y.
nneth R. Macht, Chain n
ATTEST:
Jeffrey K. Barton, Cfer
APPROVED AS TO FORM
AND LEGAL SUFFICIENCY:
William G. Collins II
Deputy County Attorney
3
A
VILLAGE WALK SOUTH 1465
OF VERO BEACH, LLC
233 W. PARK AVENUE
WINTER PARK, FL 32789
Q
DATE O� 63-1215/631
AY
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LL TO THE f,3 V
r-
ORDER O r
LV 91 ,6Z
`''DOLLARS u
MFirst National
BANK OF CENTRAL FLORIDA
369 N.NY.AVENUE
WINTER PARK,FLORIDA 32789
FOR '4n� -
II'00146Sill -1:063112155j: 0E2105 3111
4
BILL OF SALE OF UTILITY FACILITIES TO INDIAN RIVER COUNTY, FLORIDA
(when constructed within existing easement or road rights of way)
KNOW ALL MEN BY THESE PRESENTS, that VILLAGE WALK SOUTH OF VERO BEACH,
LLC, a Florida limited liability company, the address of which is 233 W. Park Avenue, Winter
Park, FL 32789, hereinafter called GRANTOR, in consideration of value received, the receipt
and sufficiency of which is hereby acknowledged, has and does hereby grant, bargain, sell,
transfer, and deliver unto INDIAN RIVER COUNTY, a political subdivision of the State of
Florida, whose address is 1840 25th Street, Vero Beach, FL 32960, hereinafter called
GRANTEE, the following goods and chattels:
SEE EXHIBIT"A"ATTACHED HERETO AND MADE A PART HEREOF
which utilities are located in existing easements or road rights of way described generally as
follows: VILLAGE WALK SOUTH SUBD., Plat Book 17, Page 7, Indian River County Public records.
TO HAVE AND TO HOLD the same unto GRANTEE forever, and GRANTOR hereby warrants
to the GRANTEE that it has free and unencumbered title to the above-described facilities, that
all persons or entities which have supplied labor or materials with respect to these facilities
have been paid in full, that none of them has any claim whatsoever with respect thereto, and
that the GRANTOR has full authority to make this conveyance and will warrant and defend the
sale of said chattels and utility facilities hereby made unto GRANTEE against the lawful claims
and demands of all persons whomsoever.
GRANTOR hereby further warrants that should the above described utility facilities fail or
otherwise become defective during a period of one year from the date of acceptance of same
by GRANTEE, due to defective materials or workmanship, GRANTOR shall upon each
occasion be responsible in all respects for such failure or defect and shall correct same at
GRANTOR's sole cost and without expense to GRANTEE upon reasonable notice by
GRANTEE. GRANTOR shall be solely liable and shall save GRANTEE harmless from any
direct or consequential damage attributable to such failure or defect. GRANTOR hereby also
assigns all its right, title, and interest in and to manufacturer's or supplier's warranties with
respect to the described facilities.
IN WITNESS WHEREOF, the GRANTOR has herein set its hand and seal the day and year
first above written.
Signed, s ed,and delivered VILLAGE WALK SOUTH OF VERO
in th?name—:ce of: BEACH, LLC
sign
Wi less V O
printn 1� .
B
sign *Re'n edy,Managing mber
Witness
printed name: acqu7tA�� F n6
STATE OF FLO DA
COUNTY OF '
The foregoing instru ent was sworn to and subscribed before me this A+3AJ- day of
2003, by Ray Kennedy, Managing Member of VILLAGE WALK SOUTH OF
RO BE H, LLC, on behalf of same. He is p,Sgaaly k_ ,fin to e or produced
as identification. — "Me
PUBLIC: (stamped seal w/#and expiration date) _
,p`�'% E JANE SWING sign
I MY COMMISSION DDM4101
-3-1 1� EXPIRES:August 3.2005
t-800 ARY FL Notary S�rvioa 8 Bonft.W_
l:XH1131'1' 'A'
VILLAGE WALK SOUTH
PHASE I
1/17/2003 `
ITEM UNIT
NO. =DESCRIPTION TOTAL
QUAN'T'ITY UNIT PRICE AMOUNT
4.00 SANITARY SEWER
4.01 8"PVC Sanitary Sewer(0-6'Cut) 303 L.F. $21.00
4.02 10"PVC Sanitary Sewer(0-6'Cut) 283 L.F. $6,363.00
4.03 10"PVC Sanitary Sewer(6'-8'Cut) 248 L.F. $26$22.00 $6,226.00
4.04 Sanitary Sewer Manhole 0-6'Cut) 2 EAC ,800..00 $6,448.00
( H $1,800.00 $3,600.00
4.05 Sanitary Sewer Manhole(6'-8'Cut) 2 EACH $256500
4.06 6"Lateral Service $5,130.00
4.07 Single Service Connection 375 L.F. $4.70 $1,762.508 EACH $465.00
4.08 Double Service Connections $3,720.00
10 EACH $550.00 $5,500.00
4.09 Connection at Existing Manhole 1 EACH $1,000.00
$1,000.00
Sub-Total $39,749.50
5.00 POTABLE WATER
5.01 4"PVC Water Main 195 L.F. $11.00
5.02 6"PVC Water Main $2,145.00
655 L.F. $12.75 $8,351.25
5.03 6"DIP Water Main 130 L.F. $15.00
5.04 4"M.J.Gate Valve $1,950.00
1 EACH $550.00 $550.00
5.05 6"M.J.Gate Valve 3 EACH $690.00
5.06 6"Tee $2,070.0fl2 EACH $315.00 $630.0
5.07 6" Temporary Plug 1 EACH $300.00
5.08 10"x6"Ductile Iron Tapping Sleeve w.Valve 2 EACH $300.00
5.09 1"Polyethylene Service Tubing 45 L $2,460..F. $1.50 $6700 $4,$67.00
.50
5.10 1 1/2"Polyethylene Service Tubing 135 L.F. $2.00
5.11 Single Service Connections $270.00
4 EACH $490.00 $1,960.00
5.12 Double Service Connections 12 EACH $590.00
5.13 Fire Hydrant Assembly w/Valve $7,080.00
1 EACH $29450.00 $2,450.00
5.14 2"Blow-Off Assembly 2 EACH $400.00
5.15 Temporary Jumper $800.00
1 EACH $500.00 $500.00
5.16 Sampling Point 2 EACH $350.00
$700.00
Sub-Total $34,743.75
COST SUMMARY
Sanitary Sewer $39,749.50
Potable Water $34,743.75
Total
-$74,493.25
Warranty Bond(25%of Above Total) $18,623.31
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