HomeMy WebLinkAbout1999-33140
qq-33f
F0R.A1S(og,.2)LHGAL(WGCMhm)
corporate, for use with
letter of credit
CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS
NO. SD -99-05-06-A (99120120)
THIS CONTRACT, made and entered into this 15th day of
_December , 1999 by and between Oak Chase Development, L.L.C., a limited
liability company existing under the laws of the State of Florida, 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 is commencing proceedings to effect a subdivision
of land within Indian River County, Florida; and
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 certain
plat to be known as Oak Chase Subdivision - Phase I; and
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
August 21, 2000 in a good and workmanlike manner, those
improvements described as follows:
See Exhibit "A" attached
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
40
•
County, Florida upon the final approval of the Board of County Commissioners and
made a part hereof for all purposes.
2. Developer agrees to construct said improvements strictly in
accordance with the land development permit, the most recent set of plans and
specifications for this subdivision approved by the County and on file in the Planning
and Development Division, and all County development regulations and standards,
including conditions and requirements of any applicable County right-of-way permit, all
of which are hereby incorporated by reference and made a part hereof.
3. In order to guarantee performance of this contract, Developer shall
simultaneously herewith furnish an irrevocable letter of credit, having an expiration date
of not less than ninety (90) days beyond the date set forth in Paragraph 1, provided by
a banking institution authorized to transact such business in this state, in a form to be
approved by the County, naming Developer as customer and
Century Bank , as the underwriting bank, in the amount of
$ 695,232.50 , which amount is not less than one hundred fifteen percent
(115%) of the estimated total cost of improvements remaining to be constructed, as
determined in accordance with the County's Subdivision and Platting Ordinance. It is
understood that the full amount of the letter of credit shall remain available to the
County and shall not be reduced during the course of construction without an express
written modification thereof executed by all parties. Requested reductions shall not be
unreasonably withheld by the County. Developer may at any time substitute
guarantees, subject to the approval as to form and amount by the County.
4. Up to $1,000,000.00, or the limits of any applicable underlying or
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 damage, personal or bodily injury, or
loss of life, arising from the negligent acts or omissions of the Developer, its officers,
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 -owned property, such as street,
sidewalk, bikepath, lighting, signalization, traffic control, drainage, water, or sewer
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 completion in
accordance with the land development permit, plans, specifications, and ordinance
40
requirements of Indian River County shall be determined by the County and shall be
indicated by specific written approval of the Public Works Director or his designated
representative, after receipt of a signed and sealed Certificate of Completion from the
project engineer of record.
6. In the event the Developer shall fail or neglect to fulfill its
obligations under this contract and as required by the Indian River County Code, the
Developer, as principal, and the letter(s) of credit shall be jointly and severally liable to
pay for the cost of construction and installment of the required improvements to the final
total cost, including but not limited to engineering, construction, legal and contingent
costs, including reasonable attorney's fees incurred by the County, together with any
damages, either direct or consequential, which the County may sustain as a result of
the failure of Developer to carry out and execute all provisions of this contract and
applicable ordinances of the County. In no event, however shall the liability of the
underwriting bank under this paragraph exceed the total amount of the original
obligation stated in the letter(s) of credit, less any approved reductions thereto.
7. The parties agree that the County at its option shall have the right,
but not the obligation, to construct and install or, pursuant to receipt of competitive bids,
cause to be constructed and installed the required improvements in the event
Developer shall fail or refuse to do so in accordance with the terms of this contract.
Developer expressly agrees that the County may demand and draw upon the existing
letter(s) of credit for the final total cost of the improvements. Developer shall remain
wholly liable for any resulting deficiency, should the letter(s) of credit be exhausted prior
to completion of the required improvements. In no event shall the County be obligated
to expend public funds, or any funds other than those provided by the Developer, or the
underwriting bank to construct the required improvements.
8. Any letter(s) of credit provided to the County by Developer with
respect to this contract shall exist solely for the 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 subcontractor, laborer, materialman or other party providing labor,
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 shall be in writing, executed by
authorized representatives of both parties.
IN WITNESS WHEREOF, the parties hereto have set their hands and
seals on the day and year first above written.
w
C]
OAK CHASE DEVELOPMENT, L.L.C.
a Florida limited liability company,
DEVELOPER
WITNES ES: /-toe
sign: BY
print n Joan a. slum David B. Chase, Managing Member
2sign: • /.
print name: Dean F. hues 2 -
(affix corporate seal)
INDIAN RIVER COUNTY, FLORIDA
C—.
rineth R. Macht ,Chairman
Board of County Commissioners
ATTEST: BCC approval: December 2.11229_
By:
. Barton, Jerk �
U
APPROVED AS TO FO M
AND LEGAL SUFFICIENCY:
William G. Collins Ii
Deputy County Attorney
4
s
ENGINEER'S COST ESTIMATE
BASED ON ACTUAL CONTRACT PRICES WITH PAN AMERICAN ENGINEERING
OAK CHASE SUBDIVISION
PHASE 1
12/14/99
I, John H. Blum, P.E., a Florida Registered Engineer, License No. 45813, do hereby certify that a cost estimate has been
prepared under my responsible direction for those improvements listed below that are currently outstanding and that the
total cost estimated for said improvements is $604,550.00. This estimate has been prepared, in part, for the purposes of
establishing proper surety amounts associated with the approval by Indian River County of a final Plat for the.0ak Chase
Subdivision -Phase I. Please note that the dollar amounts shown below are actual contact prices between the,dev.lorper.
and the contractor.
Jo H. Blum, P.E. N45813 Date:
ITEM
NO.
DESCRIPTION
QUANTITY
UNIT
UNIT TOTAL
PRICE AMOUNT
1.00
1.01
1.02
1.03
1.04
1.05
1.06
1.07
1.08
1.09
1.10
2.00
2.01
2.02
2.03
2.04
2.05
2.06
2.07
2.08
2.09
EARTHWORK
Mobilization
Clearing & Grubbing (R -O -W & Tracts)
Clearing & Grubbing (Lots)
Grading (Roadway)
Grading (Lots)
Excavation (Lakes)
Excavation(Swales)
Berm Along 33rd Street
Imported Fill (Includes 18% fluff)
Sodding
PAVING
8" Stabilized Subgrade
6" Limerock/Coquina Base
1" S -I Asphalt
2' Miami Curbing
4" Reinforced Concrete Sidewalk
30" High Intensity Stop Sign
24" Thermoplastic Stop Bar
Gore Striping @ Entrance
Pavement Open -Cut & Restoration
1
11.2
12.5
15,565
62,131
70,527
515
250
0
22,050
9,720
7,875
7,420
5,000
329
5
5
1
38
L.S.
ACRE
ACRE
S.Y.
S.Y.
C.Y.
C.Y.
C. Y.
C.Y.
S.Y.
S.Y.
S. Y.
S.Y.
L.F.
S.Y.
EACH
EACH
L.S.
S.Y.
$1,000.00 $1,000.00
$0.00 $0.00
$0.00 $0.00
$0.50 $7,782.50
$0.35 $21,745.85
$1.70 $119,895.90
$2.00 $1,030.00
$9.00 $2,250.00
$3.90 $0.00
$1.15 $25,357.50
Sub -Total $179,061.75
$1.70 $16,524.00
$4.75 $37,406.25
$3.32 $24,634.40
$5.95 $29,750.00
$23.00 $7,567.00
$200.00 $1,000.00
$125.00 $625.00
$620.49 $620.49
$25.00 $950.00
Sub -Total $119,077.14
EXHIBIT "A"
Page I
CAISu rving Florida
Si1t<1. 11111
40
i
6.00
6.01
6.02
6.03
6.04
6.05
6.06
6.07
6.08
6,09
6.10
7.00
7.01
7.02
7.03
7.04
7.05
7.06
7.07
7.08
7.09
7.10
LIFT STATION & FORCE MAIN
Lift Station Wet Well and Vault
Lift Station Mech/Elec Package
Lift Station Telemetry Package
Lift Station Installation
4" PVC Force Main
4" DIP Force Main
4" Shut -Off Plug Valve
4" Tapping Sleeve and Valve
Backflow Preventer & Hose Bib
1" Water Service w/ Meter
OFF-SITE WATER
8" PVC Water Main
8" DIP Water Main
8" M.J. Gate Valve
8" 90 -Degree Bend
8" 45 -Degree Bend
Ditch Crossing Fittings
Re -Locate 2" Blow -Off
Temporary Sampling Point
Temporary Jumper
Marl/Shell Drive Restoration
I
1
1
1
1,204
41
1
1
I
1
369
53
1
2
3
1
I
2
1
170
EACH
EACH
EACH
EACH
L.F.
L.F.
EACH
EACH
EACH
EACH
L.F.
L.F.
EACH
EACH
EACH
EACH
EACH
EACH
EACH
S.F.
$6,000.00 $6,000.00
_
$32,718.00 $32,718.00
$8,200.00 $8,200.00
$3,700.00 $3,700.00
$5.75 $6,923.00
$9.00 $369.00
$350.00 $350.00
$3,000.00 $3,000.00
$500.00 $500.00
$250.00 $250.00
Sub -Total $62,010.00
$13.35 $4,926.15
$20.00 $1,060.00
$575.00 $575.00
$150.00 $300.00
$200.00 $600.00
$3,600.00 $3,600.00
$300.00 $300.00
$350.00 $700.00
$1,500.00 $1,500.00
$9.00 $1,530.00
Sub -Total $15,091.15
COST SUMMARY
Earthwork
Paving
Drainage
Sanitary Sewer (On -Site)
Potable Water (On -Site)
Lift Station & Force Main
Off -Site Water
Total
Letter of Credit Required (115% of Above'fotal)
Page 3
$179,061.75
$119,077.14
$79,801.00
$80,258.21
$69,250.75
$62,010.00
$15,091.15
$604,550.00
$695,232.50
CAItiorr it ig Hi triga
40
CUB
CENTURY %0
BANK
IRREVOCABLE LETTER OF CREDIT NO. 99-27 ML
December 17, 1999
Indian River County
Board of County Commissioners
1840 2511 Street
Vero Beach, FL 32960
Gentlemen:
By order of Oak Chase Development LLC, Century Bank hereby establishes our Irrevocable Letter of Credit No. 99-27
in your favor in the amount of Six Hundred Ninety-five Thousand Two Hundred Thirty-two and 501100 US Dollars
($695,232.50 U.S.) effective as of December 17, 1999 and expiring at our office at the close of business on January 2,
2001.
This Letter of Credit is provided to you as required under the Contract for Construction of Required Improvements
between Oak Chase Development LLC and Indian River County, relating to the Oak Chase Subdivision which contract
is numbered SD -99-05-06A (98120120).
Century Bank shall make funds available under this credit to you not exceeding in the aggregate the amount of this
credit against your sight drafts to us mentioning this Letter of Credit No. 99-27, accompanied by a resolution of the
Board of County Commissioners to the effect that Oak Chase Development LLC has defaulted under the terms of the
aforementioned contract for construction of required improvements, and that the amount of the draft represents the
amount required by the County to fulfill the performance of said contract for the construction of required improvements.
Drafts presented for payment under the credit shall be marked, "Drawn on Irrevocable Letter of Credit No. 99-27 of
Century Bank."
This Letter of Credit sets forth in full the terms of our undertaking. Such undertaking shall not in any way be modified,
amended, or amplified by reference to any document, Instrument, or contract referred to herein or in which this Letter
of Credit is referred to or to which this Letter of Credit relates and any such reference shall not be deemed to incorporate
herein by reference any document, instrument, or contract.
Century Bank agrees that your sight draft and resolution as mentioned above shall be duly honored and payment made
upon due presentation to our office located at 1680 Fmitville Road, Sarasota, Florida 34236, on or before January 2,
2001.
Charles J.
Senior Vi
Audra McKay,
MEMBER `J Corporate Office:
FDIC 1680 Fruitville Rd. • Post Office Box 2900 • Sarasota, Florida 34230 • (941) 366-1050
uricew
Downtown Sarasota: 1680 Fruitville Rd., Sarasota, Florida 34236 • Seventeenth Street: 3323 17th St., Sarasota, Florida 34235
Tuttle & Bee Ridge: 3600 S. Tuttle Ave., Sarasota, Florida 34239
Southwood Mall: 5844 14th St. West (U.S. 41), Bradenton, Florida 34207 • West Bradenton: 6351 Manatee Ave. West, Bradenton. Florida 34209