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Home My WebLink About2004-108 : *e7 ,0q o F� THIRD MODIFICATION TO CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS NO . SD -00 -06 -07 -CFC (93050013 -26511 ) 00 HIS THIRD MODIFICATION made and entered into this da of 7 , Y - , 2004 , by and between Chase Meadows , L . L . C . , a Florida 11irAited liability company, 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 , on May . 15 , 2001 Developer entered into a Contract for Construction of Required Improvements No . SD-00-06-07 -CFC (93050013 - 26511 ) guaranteeing the completion of certain required improvements on or before May 8 , 2002 within the Chase Meadows Subdivision ; and WHEREAS , on April 2 , 2002 the Board of County Commissioners approved a Modification to Contract for Construction of Required Improvements No . SD -00-06- 07- CFC (93050013-26511 ) extending the time for completion of the internal sidewalks , the only remaining improvement yet to be constructed , to May 14 , 2003 ; and WHEREAS , on August 5 , 2003 the Board of County Commissioners approved a Second Modition to Contract for Construction of Required Improvements No . SD-00-06-07 -CFC (93050013-26511 ) extending the time for completion of the internal sidewalks to May 14 , 2004 ; and WHEREAS all internal sidewalk segments are complete with the exception of a segment across Lot 42 , and Developer wishes to extend the completion date to May 14 , 2005 , and has substituted cash in the amount of $ 687 . 70 which represents the required amount for the remaining sidewalk segment and executed a Cash Deposit and Escrow Agreement ; and WHEREAS , the Indian River County Code allows the developer to delay construction of required sidewalk improvements along local roadways for a period of two years beyond the final plat approval date , with the ability to further extend the contract for construction and posted security beyond the initial 2 -year period at a rate of two years for every eight project lots which received final plat approval upon approval of both the Public Works Director and the Community Development Director. However at no time may a contract for construction be extended beyond ten years following final plat approval ; and NOW , THEREFORE , IN CONSIDERATION OF THE MUTUAL COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as follows : 1 F:\Attorney\Nancy\DOCS\PLAN\modification 3rd to k chase meadows.doc 4 " 1 . The date for completion of the remaining required internal sidewalk improvements as outlined in the Contract for Construction of Required Improvements No . SD-00-06-07-CFC (93050013-26511 ) and Modifications is extended to May 14 , 2005 . 2 . The posting of $ 687 . 70 cash to guarantee completion of the required improvements is acceptable . 3 . The Cash Deposit and Escrow Agreement is made a part of the Contract as modified . 4 . All other terms set out in the Contract for Construction of Required Improvements No . SD-00-06-07-CFC (93050013-26511 ) as modified remain in full force and effect. IN WITNESS WHEREOF , the parties hereto have set their hands and seals on the day and year first above written . CHTvid OWS , L . . C . , a Florida limicom By: ase Managing Member Developer INDIAN RIVER COUNTY, FLORIDA APPROVED AS TO FOAM by and through its Board of County AND LECALSUFFiCt"Y Commissioners BY WILLIAM (L COLLINS 4 CQUNTY #=QHNl� By ' Caroline D . Ginn , dhairman BCC approved : May 11 , 2004 ATTE J . K . Barton of Court By: r Deputy Clerk 2 CASH DEPOSIT AND ESCROW AGREEMENT THIS AGREEMENT is entered into this day of Ar 2004 , by and between Chase Meadows , L . L . C . , a Florida limited liability company ( Developer) , and INDIAN RIVER COUNTY , a political subdivision of the State of Florida ( County) : WITNESSETH ; WHEREAS , Developer has effected a subdivision of certain property within Indian River County known as Chase Meadows Subdivision and was required to provide surety supporting a Contract for Construction of Required Improvements No . SD-00-06 -07- CFC (93050013-26511 ) with the County for the construction of certain required improvements related thereto ; WHEREAS , Developer completed the required improvements with the exception of internal sidewalks and the Contract was modified on April 2 , 2002 to extend the completion date to May 14 , 2003 and reduce the security in place ; and WHEREAS , on August 5 , 2003 the Contract was modified by Second Modification , to extend the completion date for the internal sidewalks to May 14 , 2004 , and the security in place was amended to extend the expiration date ; and WHEREAS , all internal sidewalks have been constructed with the exception of a segment across Lot 42 , and Developer wishes to substitute security currently in place with cash for the remaining sidewalk segment and extend the completion date to May 14 , 2005 . 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 Six Hundred Eighty-Seven and 701100 Dollars , U . S . ( $ 687 . 70 ) 7 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 Contract for Construction of Required Improvements as modified , which agreement and modifications are attached hereto and incorporated herein by reference ( Contract) . 2 . Upon completion of the sidewalk segment across Lot 42 , the Developer may obtain a disbursement from the escrow account by making a written request to the Board of County Commissioners of Indian River County through the County's Public Works Director. The request shall specify the amount of I FAAttomey\Nancy\DOCS\PLAN\cash deposit for K chase meadows. doc disbursement desired and shall be accompanied by a sealed certificate from Developer' s engineer describing the work completed , the actual cost thereof, and that the work for which disbursement is requested has been completed in accordance with the most recent set of plans and specifications approved and on file with the County . 3 . Within seven ( 7 ) working days after receipt of a disbursement request , the Public Works Director shall cause an inspection of the work for which payment is sought . If the Public Works Director is satisfied in all respects with the work , the accompanying cost estimates and certifications , the Public Works Director shall notify in writing the County Office of Management and Budget. The Office of Management and Budget shall make the disbursement as approved by the Public Works Director directly to Developer. 4 . Upon default by developer under the Contract and Modifications , the County may elect to pursue any of the remedies made available therein . All funds remaining in the escrow account at the time default is declared by the County shall be available for use by the County in accordance with the Contract and Modifications . Said funds shall be disbursed to the County upon receipt by the Office of Management and Budget of a certified copy of a resolution of the Board of County Commissioners stating that Developer has defaulted under the Contract. and Modifications and that said funds are necessary to complete the required improvements . All funds disbursed to County in excess of the final amount determined necessary by the County to complete the required improvements shall be returned to Developer, its legal representatives , successors or assigns . 5 . Any interest earned during the term of escrow, less administrative expenses , shall be disbursed to Developers at close of escrow. 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 purchase , while such funds remain subject to this escrow agreement , unless and until the County shall agree otherwise in writing . The County shall not be liable to any of the aforementioned parties for claims against the Developer or contractor relating to the required subdivision improvements . 7 . This Agreement , together with the attached Contract and Modifications , 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 . 2 F:\Attomey\Nancy\DOCS\PLAN\cash deposit for K chase meadows .doc CARTER ASSOCIATES , NC . CONSULTING ENGINEERS AND LAND SURVEYORS 1708 21St STREET MARVIN E. CARTER, P.S.M. VERO BEACH. FLORIDA 32960-3472 DEAN F. LUETHJE, P.E. (F. s .xp 772-562-4191 JOHN H . BLUM, P.E.vPS �1. 772-562-7180 (FAX) MFRANK S. Rfj � � � v � D GEORGE S O SP. ESM STEVE SNOBERGER, P.E. April 8 , 2004 APR 8 2004 PATRICK S. WALTHER, P.E. Mr. Christopher J. Kafer, . Jr. , P .E. INDIAN RIVER COUNTY County Engineer ENGINEERING DIVISION Indian River County 1840 25 `h Street Vero Beach, Florida 32960 APR 12 2004 RE : Chase . MeadOws. Subd}visionCOUN-!- v ,�, 1TOrRNEVS SD-A0=06=07/93050013 0 FF ! C E Request for Security Reduction Dear Chris : On behalf of my client, David Chase, we hereby request that he ' L- etter of -:Credit for the internal sidewalks be released and a cash bond for the unimproved section - of sidewalk along lot 42 be provided. Based upon my calculation for the area of sidewalk along lot •42 , 'the fo°blowing amount shall be provided in the form of a cash bond: 23 square yards x $26 .00 / sq. yd. _ $ 598 . 00 x 115 % =1687: 70 . If this meets with your approval, let me know and a check in the , above. will : be provided to your office. Should you have any questions or need additional information, please do not hesitate to contact me at our office . Sincerely, CARTER ASSOCIATES , INC . 1 ',. Jo H . Blum, P . E . onda Reg . 9 45813 Project Manager Cc : David Chase O _ Servin Florida J Since 1911 N : \ JHB \ 00 - 05E \ LOC - ReductionRequest #2 . doc Page 1 IN WITNESS WHEREOF , the parties hereto have set their hands and seals . The date of this agreement shall be the date of approval by the Board of County Commissioners , as first stated above . CHASE MEA WS , / . , a Florida limited liab ' �rjr By: D id B . dhase , Managing Member BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA By: Caroline D . Ginn , CXairman BCC : Approved May 11 , 2004 Jeffrey K . B , Clerk ool V Deputy Clerk �� 4Nb LEGAL SUFFICI f CY - � {-tom Approved is to Budget s .: WILLIAM G . COLLINS U By: 1 / COUNTY ATTORNEY Jasort . Biro n , Budget Manager Office "gement gement and Budget 3 F :\Attorney\Nancy\DOCS\PLAN\cash deposit for K chase meadows.doc 1158 } } CHASE MEADOWS { j63-8419/2670BRANCH 003 � } { . , ) ƒ . � THE § : \ ' R ' ' ' + � ) DOLLARS \ � � ! VUZEWrbor ! \ L2 FederedVere Beach, FL 32960 \ ` ) FORNMI+ OEM APP � ^ � �\ - � \■ ■ ; ■ : • . . ■ ■ ■ ■ ` 3 )