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HomeMy WebLinkAbout2005-352b AGREEMENT FOR THE ESCROW OF PETITION PAVING COSTS FOR 81St STREET THIS AGREEMENT , made and entered into thisg/ day of 2005 by and between IRC DEVELOPMENT, L . LC . , a Florida limited liability company , hereinafter referred to as " Developer" , and INDIAN RIVER COUNTY, a political subdivision of the State of Florida , hereinafter referred to as "County" . WITNESSETH : 1 . Developer received preliminary plat approval on August 19 , 2003 and administrative approval on May 25 , 2004 for the project identified as : Project Title : The Lakes at Sandridge , Phase II PD Project Number: PD -03 -07 -17 / AA-04-06 -77 Project Live- IRC Number: 2002120179 -44609 / 2002120179 -39663 Project Location : nw corner of 58th Ave . and 81St Street 2 . As a condition of preliminary plat approval and/or administrative approval , Developer is required to escrow its share of petition paving costs for 81St Street from the project' s entrance to its west property line . 3 . It is agreed between the parties that in consideration of the escrowed sum of $24 , 861 . 63 , by Developer to Indian River County , County acknowledges that Developer has met a condition of preliminary plat approval and/or administrative approval as outlined in paragraph 2 above . 4 . Developer may apply in writing to the Public Works Director for a refund of monies paid should County not begin the construction of the petition paving project along 81St Street by / o � 3/ Z4�) //,� (six years from the date of cash payment) . If the Developer elects to request such a refund , the County shall repay those monies allocated toward the escrowed petition paving project , and Developer' s condition of preliminary plat approval and/or administrative approval to escrow its share of petition paving costs for 81St Street under paragraph 2 hereof shall be deemed satisfied . Any requests for refunds not made by x 6 — & / a fZ- ( seven years from the date of cash payment) shall be deemed a waiver of all rights to such refund . IN WITNESS WHEREOF , the parties hereunto set their hands and seals this may of .12005 . IRC DEVELOPMENT, L . L . C . , a FIriela limited Liability ompany By illiam J . Sims , Manager " DEVELOPER" APPROM AS TO PORN INDIAN RIVER COUNTY , FLORIDA B tO I aie 44 es W . Davis , P . E . ublic Works Director "COUNTY" F : \Attorney\Nancy\DOCS\PLAN\escrow of petit paving re lakes at sandridge . doc � g1VER c A � *�LORI�Q' OCT 2 5 2005 INDIAN RIVER COUNTY MEMORANDUM DATE : October 19 , 2005 TO : William G . Collins , II , County Attorney . THROUGH : Christopher J . Kafer , Jr . , P . E . , County Engine FROM : Wilson Wetherington , Senior Engineering Inspector 9 9 g p SUBJECT . The Lakes of Sandridge Subdivision , Escrow for 81St Street Improvements REFERENCE : Land Development No . 2002120179 -36241 / PD -03 -07 - 17 The enclosed engineer' s certified cost estimate and quantities have been reviewed for the escrow of 81St Street improvements and are found to be satisfactory . The total amount of the bond is $ 24 , 861 . 63 ( $ 99 , 446 . 51 x 25 % ) If you have any questions please call me at extension 1451 . WW/bjr cc : Jason E . Brown , Budget Manager D . E . Howard , Jr. , Manager , Construction Coordination Mark Zans , Staff Planner, Current Development William B . Eubanks , Jr. , Schulke , Bittle & Stoddard , L . L . C . File FAEngineering\Land Development Permits\Lakes of Sandridge (fka Paladin Place )\Lakes of Sandridge memo-escrow 81st St Impro-WCollins-cjk ww10- 19-05 .doc JOSEPH W. SCHULKE, RE. SCHULKE , BITTLE & STODDARD L . L . C . JODAH B. BITTLE, P. E. WILLIAM P. STODDARD, Ph.D., P. E. CIVIL & STRUCTURAL ENGINEERING • LAND PLANNING • ENVIRONMENTAL PERMITTING October 18 , 2005 Christopher J. Kafer, Jr. , P .E . Engineering Department Indian River County 1840 25th Street L1 � � 1 � f� (i Vero Beach, FL 32960 t"� I L I j V7 ' 12 Re : Lakes of Sandridge Phases I OCT Y 9 2005 Engineering Project Number: 03 -091 INDIAN RIVER COUNTY Dear Mr. Kafer: ENGINEERING DIVASION Attached is the revised cost estimate for escrow and the Engineers certification for the 81 " Street improvements for the Phase I this project per Wilson Wetherington ' s comments . Phase review and approve this estimate at your earliest convenience. Should you have any questions regarding the above, please do not hesitate to contact my office . Sincerely 4 William B . Eubank cc : Bill Sims 1717 INDIAN RIVER BLVD. , SUITE 301, VERO BEACH , FLORIDA 32960 TEL 772 / 770-9622 Fax 772 / 770-9496 EMAILsbseng@bellsouth.net JOSEPH W. SCHULKE, RE. SCHULKE , BITTLE & STODDARD , L . L . C . JODAH B. BITTLE, P. E. WILLIAM P. STODDARD, Ph. D., P.E. CIVIL & STRUCTURAL ENGINEERING • LAND PLANNING • ENVIRONMENTAL PERMITTING Engineers Certified Cost Estimate — Lakes of Sandridge Phase I I , Joseph Schulke, A Florida registered engineer, License No . 47048 , do hereby certify to Indian River County that a cost estimate has been prepared under my responsible direction for those improvements itemized in this exhibit and that the total cost estimate for said improvements is $24 , 861 . 63 . This estimate has been prepared, in part, to induce approval by the county of The Lakes of Sandridge Subdivision Phase I, and for the purpose of estKnger cash amounts associated with the unpaved section of 81St Street. Date : 10 1001 5 Jose h S ulk No . 4704 1717 INDIAN RIVER BLVD. , SUITE 301, VERO BEACH, FLORIDA 32960 TEL 772 / 770-9622 FAx 772 / 770-9496 EMAIL sbsengfbellsouth . net COST AMOUNT FOR LAKES OF SANDRIDGE FOR PAVING ON 81ST STREET 10/7/2005 DESCRIPTION UNIT I QuANTiTy uNrrPRICEI TOTAL GENERAL 12 " Stabilized Subgrade SY 2329 $3 . 85 $85966 .65 8 " Linerock Base & Prime SY 1980 $ 12 . 50 $249750 .00 I " Type S-3 with Tact SY 1397 $4 . 00 $5 , 588 .00 1 1 /2 " Type S- 1 SY 1397 $6 .00 $8,382 .00 4' Paved Shoulder ( 1 " S-3 ) SY 466 $4 .00 $ 1 , 864 .00 Stripping/Signage LS 1 $ 19383 .36 $ 1 ,383 .36 Grading CY 950 $3 .00 $2, 850 .00 Mobilixzation LS 1 $5 ,000 . 00 $ 59000 .00 Maintenance of Traffic LS 1 $35500 . 00 $35500 .00 Fill YD 753 $ 12 . 50 $95412 . 50 Inspections LS 1 $49000 . 00 $49000 . 00 Sod SY 4625 $2 . 00 $99250 . 00 Clearing & Grubbing LS 1 $ 5 ,000 . 00 $5 ,000 . 00 AS Builts LS 1 $2,500 . 00 $25500 . 00 Preformance Bond LS 1 $2, 000 . 00 $29000 . 00 Engineering, Design & Administration LS 1 $5 ,000 . 00 $5 ,000 . 00 Total $999446.51 Escrow amount $99,446 . 51 X 25 % _ $249861 ,63 /7z Date: Joseph , t e, P.E. 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