HomeMy WebLinkAbout2015-147ITEM NO:13 b . .
INDEX NO 'j j7.
ASSIGNMENT OF
ROAD MAINTENANCE AGREEMENT FOR
RANCH ROAD LAKE SAND MINE
THIS ASSIGNMENT OF ROAD MAINTENANCE AGREEMENT
FOR RANCH ROAD LAKE SAND MINE is made this/? day of J.
2015, by and between DAVID A. SOSNE, CHAPTER 7 TRUSTEE FOR THE
BANKRUPTCY ESTATE OF RANCH ROAD LAKE, L.L.C., a Florida limited
liability company, whose mailing address is Summers Compton Wells LLC,
8909 Ladue Road, St. Louis, MO 63124 ("Assignor") and BAYTREE
VENTURES, LLC, a Florida limited liability company, whose mailing address
is 5955 82nd Avenue, Vero Beach, FL 32966 ("Assignee") and INDIAN RIVER
COUNTY, a political subdivision of the State' of Florida, having a mailing
address of 1801 27th Street, Vero Beach, FL 32960 ("County"):
WITNESSETH:
WHEREAS, on January 8, 2010 Ranch Road Lake, L.L.C.
executed a Road Maintenance Agreement for Ranch Road Lake Sand Mine and
posted $3,000.00 cash to insure that all present and future road maintenance
requirements with regard to the 82nd Avenue haul route are complied with in
accordance with the permitted conditions and Section 934.11 of the Indian River
County Code; and
WHEREAS, in January, 2014 creditors of Ranch Road Lake, L.L.C.
filed an involuntary petition against it under Chapter 7 of Title 11 of the United
States Code; and
WHEREAS, in April, 2014 David A. Sosne was duly appointed as
the Chapter 7 Trustee in bankruptcy for Ranch Road Lake, L.L.C.; and
WHEREAS on April 17, 2015 an Asset Purchase Agreement was
entered into between Assignor and Assignee whereby, among other things, the
deposit (referenced above) would transfer to Assignee at closing of the purchase
of the Ranch Road Lane Sand Mine property; and
WHEREAS, on April 28, 2015 the United States Bankruptcy Court,
Eastern District of Missouri, Eastern Division in Case No. 14-40386-659, issued
an Order Granting Motion for Order Approving the sale of assets of Ranch Road
Lake, L.L.C.; and
WHEREAS, on May 7, 2015 the property known as the Ranch
Road Lake Sand Mine was sold to Assignee; and
WHEREAS, on May 7, 2015, Assignor executed an "Assignment of
Permits, Permit Reclamation Bonds, Approvals, Documents, Intangible Rights
and Other Interests Pertaining to Property" in favor of Assignee whereby the
cash deposit (referenced above) and held in escrow with County, transferred to
Assignee, to the extent they are transferable,
NOW, THEREFORE, County acknowledges that:
1. The above recitals are true and accurate.
2. The obligations under the Road Maintenance Agreement for Ranch
Road Lake Sand Mine is assumed by Assignee in accordance with that certain
Notice of Transfer and Assumption of Site Plan Approvals and Obligations on file
with County.
3. The cash being held in escrow under the terms of the Road
Maintenance Agreement for Ranch Road Lake Sand Mine is earmarked for the
benefit of Assignee and shall be returned to Assignee upon completion and
restoration of the project if Assignee performs in all respects the obligations of
permitted conditions and Section 934.11 of the Indian River County Code,
absent any assignment, bankruptcy or court order.
4. The terms and conditions of the Road Maintenance Agreement for
Ranch Road Lake Sand Mine remain unchanged in all other rgsp cts.
By: (i--l---C
DA D A. O NE, CHAPTER 7
TRUSTEE FOR THE BANKRUPTCY
ESTATE OF RANCH ROAD LAKE,
L.L.C., a Florida limited liability
company
Assignor
BAYTREE VENTURES, LLC, a Florida
limited liability company
Assignee.
By: BLUE GOOSE CONSTRUCTION LLC,
a Flo •. limit liability
By:
By:
Richard M. Carnell, Jr., Manager
ATTEST: Jeffrey R. Smith, Clerk
of u : nd Co
eputy
OFFICE OF MANAGEMENT
AND BUDGET
By:
Jason E. Br r% n
OMB Director
py
BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER,,,..
COUNTY, FLORIDA .��y••, ; frF9�
BO>'7
Wesley S. Davis, Chairman N,Vf.. .'�� •o�
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BCC approved: August 18, 2015
(SEAL)
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
By:
Dylan Reingold
County Attorney