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Home My WebLink About2005-081 RESOLUTION NO. 2005- 081 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, DECLARING DEFAULT BY AMELIA PLANTATION GROUP, L.L.C. INC. IN ITS OBLIGATION TO COMPLETE REQUIRED IMPROVEMENTS TO AMELIA PLANTATION, AND AUTHORIZING STAFF TO MAKE SIGHT DRAFT AGAINST HARBOR FEDERAL SAVINGS BANK IRREVOCABLE LETTER OF CREDIT NO. 390 DATED.JUNE 1, 2004, AS AMENDED. WHEREAS, on April 27, 2004 Amelia Plantation Group, L.L.C., a Florida limited liability company entered into a Contract for Construction of Required Improvements No. SD-03-08-22CFC (2000070058-38955), relating to Amelia Plantation; and WHEREAS, that agreement required all subdivision improvements to be constructed on or before February 28, 2005; and WHEREAS, that agreement to construct required subdivision improvements has not been complied with; and WHEREAS, in order to guarantee performance of the contract, the developer provided Harbor Federal Savings Bank Irrevocable Letter of Credit No. 390 dated June 1, 2004 in the amount of $924,101.31, as amended in August, 2004 and again in January, 2005, with the remaining amount being $425,883.51. NOW, THEREFORE, BE IT RESOLVED BY,THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: 1 FAAttorney\Nancy\DOCS\RES\Reso calling amelia plantation.doc i RESOLUTION NO. 2005- Q81 1. That Amelia Plantation Group, L.L.C. has defaulted under the terms of the aforementioned Contract for. Construction of Required Improvements. 2. The amount of the draft represents the amount required by the County to fulfill the performance of said Contract for Construction of Required Improvements. 3. Office of Management and Budget' is directed to present this Resolution together with a sight draft marked "DRAWN ON IRREVOCABLE LETTER OF CREDIT NO. 390 OF HARBOR FEDERAL SAVINGS BANK" to the office of Harbor Federal Savings Bank, 100 South Second Street, FortPierce, FL 34950, on or before June 1, 2005. The resolution was moved for adoption by Commissioner Neuberger and the motion was seconded by Commissioner wheeler , and, upon being put to a vote, the vote was as follows: Chairman Thomas S. Lowther Aye Vice Chairman Arthur R. Neuberger Aye Commissioner Wesley S. Davis Aye Commissioner Gary C. Wheeler Aye Commissioner Sandra L. Bowden Aye 2 F:Wttorney\Nancy\DOCS\RES\Reso calling amelia plantation.doc RESOLUTION NO. 2005- 081 The Chairman thereupon declared the resolution duly passed and adopted this 24th day of May, 2005. BOARD OF COUNTY COMMISSIONERS INDIAN RIVER COUNTY, FLORIDA By S/ Thomas S. Lowther, Chairman ATTEST: Jeffrey K. Barton, Clerk By:_,_ y:t_ Deputy Clerk APPROVO0 A8 40 FORM ANO�BGII� $>f,fiF i � WiruAM VOWNS 111' ;VAUNTV'W;'h7b;tW 3 FAAttorney\Nancy\DOCS\RES\Reso calling amelia plantation.doc Amelia Plantations '2-Li — .j MODIFICATION TO CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS NO. SD-03-08-22CFC (2000070058-38955) THIS MODIFICATION, made and entered into this 24th day of May , 2005, by and between Amelia Plantation Group, 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, Developer entered into a Contract for Construction of Required Improvements No. SD-03-08-22CFC (2000070058-38955) guaranteeing the completion of certain .required improvements, and posted Harbor Federal Savings Bank Irrevocable Letter of Credit No. 390 in the original amount of $924,101.31 as. security for the completion of those required improvements; and WHEREAS, said Harbor. Federal Savings Bunk Irrevocable Letter of Credit No. 390 has been reduced on two separate occasions, with the total amount remaining at $425,883.51; and WHEREAS, the required improvements are not all completed; and WHEREAS, Indian River County Code Section 913.10(1)(B) allows up to one year from date of final plat approval for the required improvements to be completed; and WHEREAS, the final plat for Amelia Plantation was approved by the Board of County Commissioners of Indian River County on May 4, 2004; and WHEREAS, Indian River County Code Section .913.10(1)(E) states that for good cause shown, the Board of County Commissioners may in its discretion grant one or more extensions of time for performance of any contract- for required improvements, provided the surety supporting such contract remains valid for 90 days beyond the extended completion date; and WHEREAS, the Developer wishes to extend the contract date in which to complete the remaining required improvements to August 24, 2005. NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS AND PROMISES HEREIN CONTAINED, the parties agree as follows: 1. The date for completion of the required. improvements as outlined in the Contract for Construction of Required Improvements No. SD-03-08-22CFC (2000070058-38955) is extended to August 24, 2005. 2. The existing Harbor Federal Savings-Bank Irrevocable Letter of Credit No. 390 in. the amount of $425,883.51 be amended to extend the expiration date to November 24, 2005. 3. All other terms set out in the Contract for Construction of Required Improvements No. SD-03-08-22CFC (2000070058-38955) 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. AMELIA,PLANTATION GROUP, L.L.C., a Florida limite liability company B r �- y: Mark A. Brackett; Manager INDIAN RIVER COUNTY, FLORIDA by and through its Board of County Commissioners By: Q�� Thomas S.. Lowther, Chairman BCC approved: May 24, 2005 ATTEST: J. K. Barton, Clerk of Court Deputy Clerk 1 APPROVED AS TO FORM AND LEGAL SUFFICIENCY. By: AP4/ William . Colli s II County Attorney 2 F:\Attorney\Nancy\DOCS\PLAN\MODIFICATON K amelia plantation.doc