HomeMy WebLinkAbout2003-349 11Z_ �
DEVELOPER' S AGREEMENT BETWEEN
%� INDIAN RIVER COUNTY, FLORIDA
AND
EQUITY INVESTMENTS, LLC
THIS AGREEMENT, entered this 16th day nPCPmhPr , 200 3 by and between
INDIAN RIVER COUNTY, FLORIDA a political subdivision of the State of Florida, 1840 25 `h
Street, Vero Beach, Florida, 32960 hereafter called COUNTY and EQUITY INVESTMENTS ,
LLC . , 777 S. FLAGLER DRIVE, SUITE 800 WEST TOWER, WEST PALM BEACH, FL
33401 , ATTN : DAVID SHAPIRO, MANAGING MEMBER, PHONE 561 -515-6038, hereafter
referred to as DEVELOPER.
WITNESSETH
WHEREAS , the DEVELOPER proposes to develop a residential community to be known as
Woodfield at Vero Beach, a Planned Development on 141 +/- acre parcel of land along the north
side of 26[11 Street and south of 33rd Street, east of 66`h Avenue, (Indian River County Project Number
PD03 -04- 11 /2002120063 -33633 ) , which is legally described on Exhibit "A" attached hereto and
incorporated herein by reference, and;
WHEREAS , the COUNTY and DEVELOPER share mutual concerns with respect to
roadway improvements necessary at the intersection of 58` ' Avenue and SR 60 to accommodate
projected traffic volumes ; and;
WHEREAS , both the COUNTY and DEVELOPER can assist each other through a joint
effort that will share the cost of the proposed intersection improvements . .
NOW, THEREFORE , in consideration of the mutual terms, conditions, promises, covenants
and premises hereinafter, the COUNTY and DEVELOPER agree as follows :
1 . The above recitals are affirmed as being true and correct and are thereby incorporated
herein.
2 . Improvements along SR60 (20th Street) which include construction of dual left-turn lanes
(both east and west approach) at 58`h Avenue are needed. In addition, right-turn lanes are
needed at both the north and south approach along 58`h Avenue at SR60. The project test
(survey, engineering, permitting, utility pole relocation, right-of-way acquisition,
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construction, inspection, and related work) is estimated to cost $ 1 , 199, 197 . For design
purposes three northbound and three southbound through lanes along 581' Avenue shall
be included in the roadway design plans to accommodate future traffic needs .
3 . The COUNTY shall select and retain the project engineer following procedures contained
within F. S . S . 287 . 055 "Consultants' Competitive Negotiation Act" (CCNA) .
4 . The developer will pay $280, 000 of the above cost as follows :
a. By April 1 , 2004, the DEVELOPER shall pay the sum of $ 70,000 to COUNTY,
as DEVELOPER ' S contribution to engineering design.
b . The remainder, $210, 000 ($280, 000 less $ 70, 000 Engineering design cost) will be
paid by the DEVELOPER to COUNTY prior to issuance of a Land Development
Permit for the project .
c . The contribution by the DEVELOPER shall not exceed $280, 000.
5 . The DEVELOPER will receive $ 140,000 in Traffic Impact Fee Credits for Woodfield at
Vero Beach Planned Development in consideration of the advance partial funding of the
SR60 and 58th Avenue improvements . The remaining $ 140,000 shall be a Developer
contribution for these necessary intersection improvements, as agreed by COUNTY and
DEVELOPER.
6 . The COUNTY shall be responsible for all construction coordination including
advertisement for bids, contractor selection and construction inspection.
7 . In the event of any litigation arising out of this Agreement, both parties shall bear their
own attorney fees and costs .
8 . No amendment, modification, change, or alteration of this Agreement shall be valid or
binding unless accomplished in writing and executed by all of the parties hereto .
9 . This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their successors, and assigns.
10 . This Agreement contains the entire agreement and understanding between the parties. No
representation, statement, recital, undertaking, or promise not specifically set forth herein
shall be binding on any party hereto .
11 . This Agreement and all matters arising hereunder shall be governed by and construed in
accordance with the laws of the State of Florida. Venue hereunder shall lie in Indian
River County, Florida.
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- 2 .
12 . This Agreement shall be deemed prepared jointly by each of the parties hereto and shall
be construed on parity as between the parties . There shall be no canon of construction for
or against any party by reason of the physical preparation of this Agreement .
13 . Whenever the singular number is used in this Agreement and when required by the
context, the same shall include the plural ; and the masculine, feminine, and neuter
genders shall each include the others .
14. COUNTY and DEVELOPER shall grant such further assurances and provide such
additional documents as may be required by one another from time to time, and cooperate
fully with one another in order to carry out the terms and conditions hereof and comply
with the express intention of this Agreement.
15 . Failure to insist upon strict compliance with any of the terms, covenants, or conditions
herein shall not be deemed a waiver of such terms, covenants, or conditions , nor shall any
waiver or relinquishment of any right or power hereunder at any one time or times be
deemed a waiver or relinquishment of such right or power at any other time or times .
16 . All words , terms, and conditions contained herein are to be read in concert, each with the
other, and a provision contained under one paragraph may be considered to be equally
applicable under another in the interpretation of this Agreement.
IT The words herein and hereof and words of similar import, without reference to any
particular section or subdivision of this Agreement, refer to this Agreement as a whole
rather than to any particular section or subdivision hereof.
18 . In the event any term, condition, or clause of this Agreement is declared to be illegal or
unenforceable by a court of competent jurisdiction, such declaration of illegality or
unenforceability shall not affect or alter the legality or enforceability of any remaining
term, condition, or clause hereof, provided of the parties, as set forth in this Agreement .
REMAINDER OF PAGE LEFT BLANK INTENTIONALLY
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IN WITNESS WHEREOF the COUNTY and DEVELOPER has caused these presents to
be executed in their names , the day and year first above written .
BOARD OF CO TY COMMISSIONERS A
E Y IIVVE ENTS , INC . INDIAN R COUN Y,
I - /
BY .
BY :
avid Sha 'ro n e ereth R. Macht, hai an
BCC Approved :_ ��00
WITNESS : By 2
WITNESS :
J s E. andler, County d strator
(corporate sea s acce tableidin place o witnesses) /,�y Attest :
Jeffrey K. Barton
Clerk of Court
ounty Attorney
Indian River County Approved Date
Administration
Budget 1;,1216
Co. Atty, Z
Risk Management
Publle Works
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EXHIBIT " A °°
Description of Survey Site
The East 18 . 70 acres of the West 28 . 70 acres of Tract 13 , .Secti.on 32 ,
Township 32 South , Range 39 East , according to the last general plat of lands
of the Indian River Farms Company, as recorded in Plat Book 2 , Page 25 , of
the Public Records of St . Lucie County, Florida , said lands now lying and
being in Indian River County, Florida .
LESS AND EXCEPT the South 90 . 00 feet thereof.
TOGETHER WITH
1� A strip of land Iying East of the East line of the East . 18 . 70 acres of the West
28. 70 acres and West of the West line of the East 10. 00 acres of Tract 13 ,
Section 32 , Township 32 South , Range 39 East , according to the last general
Plat of lands of the Indian River Farms Company, as recorded in Plat Book 2 ,
Page 25 , of the Public Records of St . Lucie County, Florida , said land. now
lying and being in Indian River County, Florida ; said strip _ of land having the
dimension width of 2 . 93 feet at the North line and the dimension width of
4. 17 feet at the South line of said Tract 13.
LESS AND EXCEPT the South 90 . 00 feet thereof,
TOGETHER WITH
Tract 14, Section 32 , Township 32 South , Range 39 East , according to the
alast general plat of lands of the Indian River Farms Company, recorded in
Plat Book 2 , Page 25 , of the Public Records of St . Lucie County, Florida , said
lands now lying and being in Indian River County, Florida .
LESS AND EXCEPT the South 90 . 00 feet thereof.
,TOGETHER WITH
A parcel 'of land being a portion :of Tract 15 , Section 32 , Township 32 South ,
Range 39 East , according to the last general plat of lands of th6 ' I. ndian River
Farms Company, as recorded in Plat Book 2 , Page 25, of the Public Records
of St . Lucie County, Florida , said lands now lying and being in Indian River
County, Florida , said parcel more particularly described as follows :
Commencing at the Southwest corner , of said. Tract 15 , run North 00 ' 04'
20 East along the West line of said Tract 15 a distance o•f 90 . 00 feet to a
point on the North right — of— way line of 26th Street as it now exists ; thence
run South 896 . . 59 ' 06 " East parallel to the South line of said Tract 15 a
distance of 4. 10. 35 feet to the POINT OF BEGINNING; thence continue parallel
0 to said South line a distance of 168 . 50 feet ; thence run South 00 ' 00 ' 03 "
West a distance of 35 . 00 feet ; thence run South 89 ' 59 ' 06 " East and
parallel to said South line a distance of 300 . 00 feet ; thence run North 00'
00 ' 03 " East a distance of 35 . 00 feet ; thence run South 89. ' 59 ' 06 East '
and parallel to said South line a distance of 180 . 00 feet ; thence run North
00 ' 04 ' 20 " East and parallel to said West line of Tract 15 a distance of
620 . 00 feet ; thence run North 89 ' 59 ' 06 " West and parallel to said South
I
a ' distance of 648 . 50 feet ; thence run South 00 ' 04' 20 " West and parallel
to said West line a distance of 620 . 00 feet to the POINT OF BEGINNING .
LESS AND EXCEPT: lands. described in Official Records Book 1115 , Page 541
and lands described in Official Records Book 1115 , Page 543 , of the Public
Records of Indian River County, Florida .
SURVEYORS ' NOTE : The above less and except instruments describe and depict
the additional right — of— way shown , hereon and do not except any additional
lands from . the description .
TOGETHER WITH
The North 5 acres of the East 10 acres of Tract 13 , Section 32 ,
32
South , Range 39 East , according to the last general plat of I ands Township
the
Indian River Farms Company, as recorded in Plat Book 2 ; Page 25 , of the
Public Records of St . Lucie County, Florida , said lands now lying and being.
in Indian River County, Florida .
TOGETHER WITH
1
,
The South 5 acres of the East 10 acres of Tract 13 , Section 320 Township 32
South , Range 39 East , according to the last general plat of lands of the
Indian River Farms Company, as recorded in Plat Book 2 , Page 25 , of the
Public Records of St . Lucie County, Florida , said lands now lying and . being
in Indian River County, Florida .
TOGETHER WITH
Tract 15 , Section 32 , Township 32 South , Range 39 East, according to the
last general plot of lands of the Indian River Farms Company, recorded in
Plot Book 2 , Page 25 , of the Public Records of St.
lands now lying and being in Indian Lucie County, Florida , said
River County, Florida .
LESS AND EXCEPT the following described parcel :
Commencing at the
" Southwest corner of said Tract 15 , run North 00 ' 04 '
20East along the West line of said Tract 15 a distance of 90 . 00 feet to . o
point on the North right — of— way line of 26th Street as if now exists ; thence
run . South 89 ' 59 ' 06 " East parallel to the South line of said Tract 15 a
® distance of 410 . 35 feet to the POINT OF BEGINNING; thence continue
to said South line a distance of 168 . 50 feet ; thence run South 00 ' 00parallel
' 03 i
West a distance of 35 . 00 feet ; thence run89' 59 ' 06 East and
South
parallel to said South linea distance of 300 . 00. feet ; thence run North 00 '
00 ' 03 " East a distance of 35 . 00 feet ; thence run South 89 ' 59 06 " East
and parallel to sold South line a distance of 180 . 00 feet ; . thence run North
00 ' 04 ' 20 " East and parallel to said West line of Tract 15 a distance of
620 . 00 feet ; thence run North 89 ' 59 06 " West and parallel to said South
linea distance of. 648 . 50 feet ; thence run South 00 ' 04 ' 20 " West and parallel
LO said West line a distance of 620 . 00 . feet to the POINT OFBEGINNING .
TOGETHER WITH
The East 20 acres of Tract 12 , Section 32, Township 32 South , Range 39
❑7 lEa to
according to the last general plat of Ipnds of the Indian River Farms Company,
as recorded in Plat Book 2 , Page 25 , of the Public
Count Florida said lands now lying and being in Indian Records
County, Florida .
TOGETHER WITH y g y
The West 20 . 28 acres of Tract 11 , Section 32 ,
Township
according to the last general plat of lands oftheIndian RioverhForms Company,
$ as recorded in Plat Book 2 , Page 25 , of the Public - Records
of . Lucie
County, Florida , said lands now lying and being in Indian River County, tFlorida
2