HomeMy WebLinkAbout2000-338•
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River lake Estates Subdivision
utility maintenance for use
with Bill of Sale
CASH DEPOSIT AND ESCROW AGREEMENT
THIS AGREEMENT is entered into this -Lit day of �f7 t xn. -, 2000,
by and between RAYMO, INC., a Florida corporation (Developer), and INDIAN
RIVER COUNTY, a political subdivision of the State of Florida (County):
WITNESSETH:
WHEREAS, Developer is effecting a subdivision 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 utility
improvements related thereto, namely:
See Exhibit "A" attached hereto.
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 Four Thousand Five Hundred Seventy -
Eight and 591100 Dollars ($4,578.99), 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 Bilt 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 Developers 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.
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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.
4. Upon defect in the improvements warranteed under the Bili 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..
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IN WITNESS WHEREOF, the parties hereto have set their hands and
seals. The effective date of this Agreement shall be the elate of approval by the
Board of County Commissioners.
Signed in the presence of: RAYMO, INC., a
S 4-G e- ` $,,, �, , Florida corporation
DEVEt_OPER.
Date: rte/' 2 s f�a ..�---�
Pierre Rayl d, resident
OFFICE OF MANAGEMENT AND
BUDGET
�r—
Date: I� I ! _+ By:
a —
JasoiS E: ?rown, Budget Manager
BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER
COUNTY Ir
Date: 11.14-2000 By` IC i.�ti_ C--5'� .iLcrl JAS'
Fran B. Adams, Chairman
ATTEST: Jeffrey K. Barton, Clerk
By: �(I—L' ce
Deputy lerk
APPROVED AS TO FORM
AND LEGAL SUFFICIENCY
Byc
WILLMH. G. COLLINS II
DEPUTY COUNTY ATTORNEY
4D
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ITEM
No.
1
2
3
4
5
6
7
a
9
10
11
12
13
14
15
16
17
18
19
20
no.�,
!rr -1
EXH1E
UTILITY COST - I
RIVED LAKE ESTATE
ITEM
DESCRIPTION
Single Water Services
Double Water Service
6" D.I.P. Water Main
4" P.V.C. Water Main
Ductile Iron Fittings
Joint Restrainers (4" or 6")
Fire Hydrant Installation
Relocated Water Main Blow - Off
Testing Water System Installation
2" P.V.C. Farce Main
4" Casing Bared Under Driveway
4" Casing Pipe (Unbored)
2" P.V.C. Bell Joint Fittings
2" Bell Joint Restrainers
2" Resilient Seat Gate Valves wl Boxes
Force Main Testing
Power Distribution Panel
Primary Power Service
Lift Station Electric Services
Surveying & "As-Buills"
TOTAL UTILITY INSTALLATION C
I
Y
IT "A"
)CTOBER 11
S SUBDIVIS1
ITEM
QUANTITY
ESTIMATE
3
1
15
130
120
12
1
i
1
465
24
30
16
25
5
1
1
1
5
1
UST
I, 2000
DN, P!
UNIT
TYPE
EACH
EACH
L.F.
I_.F-.
LBS.
EACH
EACH
EACH
L.S.
L.F.
L.F.
L.F.
EACH
EACH
EACH
L.S.
L.S.
L.S.
EACH
L.S.
IASE III
EAR W
Clefi�/r
Ito
h
UNIT
PRICE
$210.00
$31000
$26.00
$7.50
$3.50
$45.00
$2.000.00
$300,00
$650.00
$4.50
$40.00
$4.50
$18.00
$25.00
$325.00
$300.00
$2,939.37
$250.00
$360.00
$986.10
TOTAL
QUANTITY
PRICE
$63000
$310.00
$390.00
$975.00
$420.00
$540.00
$2.000.00
$300.00
$650.00
$2.092.50
$960.00
$135.00
$286.00
$625.00
$1.625.00
5400.00
$2,939.37
$250.00
$1,800.00
s9a& 10
$18,315.97
&9,578.99
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