HomeMy WebLinkAbout2017-002 The Reserve At Vero Beach P.D.—Phase 2 A TRUE COPY
warranty of road and drainage improvements CERTIsICiCL ON LAST PAGE
(Phase 2 within platted Phase 2) J.R. SMITH, CLERK
MODIFICATION TO
WARRANTY AND GUARANTY AGREEMENT FOR REQUIRED
IMPROVEMENTS
CONTRACT NO. PD-14-06-04-R&D2(2)
THIS MODIFICATION, made and entered into this otn day of January,
2017, by and between SR 60 VERO LLC, 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 Warranty and Guaranty Agreement
for Required Improvements Contract No. PD-14-06-04-R&D2(2) to warranty the
road and drainage improvements for a period of one year from December 12,
2016 to December 12, 2017, and simultaneously entered into a Cash Deposit
and Escrow Agreement with $31,650.30 in cash being posted as security for the
warranty in order to expedite the issuance of the certificate of completion until
such time as alternate acceptable security could be substituted; and
WHEREAS, the developer has now submitted an acceptable substitution
of security for the warranty in the form of an M and T Bank Irrevocable Standby
Letter of Credit No. SB2002530001 in the amount of $31,650.30, with an
expiration date of March 12, 2018,
NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL
COVENANTS AND PROMISES HEREIN CONTAINED, the parties agree as
follows:
1. The substitution of security in the form of an M and T Bank
Irrevocable Standby Letter of Credit No. SB2002530001 in the
amount of $31,650.30, with an expiration date of March 12, 2018 is
acceptable.
2. The $31,650.30 cash on deposit in escrow with the County can be
returned to the entity that posted the funds in accordance with the
Cash Deposit and Escrow Agreement.
3. All other terms set out in the Warranty and Guaranty Agreement for
Required Improvements Contract No. PD-14-06-04-R&D2(2)
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.
SR 60 VERO LLC, a Florida limited
liability company
'I 0 ELOPER
. *
BY� J
Lo s J. Cap:no, Jr ' anager
INDIAN RIVER COUNTY, FLORIDA
Joseph E. Flescher, Chairman b...‹,:,. ...
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ATTEST: Jeffrey R. Smith, Clerk of BCC approved: January 10, /4 `�
Court and Comptroller *_
pt oiler ; �. ;
By: /V, :0 it 6 ' .41
4yClerk y�i` .. o. .
••`•ti RCOUN��.•••�
APPROVED AS TO FORM
AND L GAL SUFF EN
wig iallL
WlLLtA-_ K.DEBRAAL
DEPUTY COUNTY ATTORNEY
STATE OF FLORIDA -
INDIAN RIVER COUNT\'
THIS IS TO CERTIFY THAT THIS I5
A TRUE AND CORRECT COPY OF
THE ORIGINAL ON FILE IN THIS
OFFICE.
i - II 1jV IERk
BY ` " 0
DATE • ( /r/O /
2
The Reserve At Vero Beach P.D.—Phase 2
(Phase 2 within platted Phase 2) A TRUE COPY
CERTIFICATION ON LAST PAGE
J.R. SMITH, CLERK
MODIFICATION TO
CONTRACT FOR CONSTRUCTION
FOR FINAL LIFT OF ASPHALT
CONTRACT NO. PD-14-06-04-FLA-PH2
THIS MODIFICATION, made and entered into this 10th day of January,
2017, by and between SR 60 VERO LLC, 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 for Final
Lift of Asphalt Contract No. PD-14-06-04-FLA-PH2 to guaranty the installation of
the final lift of asphalt, and simultaneously entered into a Cash Deposit and
Escrow Agreement with $40,360.63 in cash being posted as security for the
guaranty in order to expedite the issuance of the certificate of completion until
such time as alternate acceptable security could be substituted; and
WHEREAS, the developer has now submitted an acceptable substitution
of security for the guaranty in the form of an M and T Bank Irrevocable Standby
Letter of Credit No. SB2002520001 in the amount of $40,360.63, with an
expiration date of March 12, 2019,
NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL
COVENANTS AND PROMISES HEREIN CONTAINED, the parties agree as
follows:
1. The substitution of security in the form of an M and T Bank
Irrevocable Standby Letter of Credit No. SB2002520001 in the
amount of $40,360.63, with an expiration date of March 12, 2019 is
acceptable.
2. The $40,360.63 cash on deposit in escrow with the County can be
returned to the entity that posted the funds in accordance with the
Cash Deposit and Escrow Agreement.
3. All other terms set out in the Contract for Construction for Final Lift
of Asphalt Contract No. PD-14-06-04-FLA-PH2 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.
SR 60 VERO LLC, a Florida limited
liability company
441 ..:
0DE . LOPER
A IP ft,,.-....• .•illLo 's J. rap..o, Jr. anger
INDIAN RIVER COUNTY, FLORIDA
By. ..,,..,t�on�ru�ss/.,
seph E. Flescher, Chairman :oJ�''• • s.:,<<:p...
�
*
ATTEST: Jeffrey R. Smith, Clerk of BCC approved: January 10, 2017= ...tp:.
*i ..",. • •i
Court and Comptroller s
=%.:34%.:9.:./..1;:u113..:171
moo. s� i� .oQ:
By: / •,yy9. �I ;+ •• •oQ;
ty Clerk •'••��EAcour•.•�'
APPROVED AS TO FORM
AND .
i / ALS FFi E
BY Via.`J I.* a
ilir
VWLUA
DE UTY UNTYATTORNEY
-STATE-7W FLORIDA _ __.'—
INDIAN RIVER COUNTY
THIS IS TO CERTIFY THAT THIS IS
A TRUE AND CORRECT COPY OF
THE ORIGINAL ON FILE IN THIS
OFFICE.
BY A•ix; ITH,CUSP(
DATE .iniar/vA§r
2