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Home My WebLink About2005-119 oop•oluiod sloua[en 301 io3 X apfS1SMOJ\S000\AoueM\,Cauiollt\:d I • o;aaay pa4oelle ,V, , l ! q ! 4X3 eaS : snnollol se pagposep sJuawanoadw ! asog} `jauuew a� ! luewNaonn pue p006 a u ! ` leld leul310 lenoidde jo sieeA onq u ! gl!nn 6u ! aq elep e4740 9� �Mp ' �(g j0nalsuo0 0l saaa6e aadolanaa r : SMOI l Ol se 99i6e sallied aql ` a3' NIV.LN00 N132J3H S3SINMId (INV S1NVN3n00 ivni 1W 3H130 NOIIV J3aISN0O NI ` D2JOJ3213H1 ` MON oAluno0 eqj q }!nn palsod sealueaenb aapun ` lenoidde jelcl leul3 aa:4e pallelsu ! aq 01 We s} uawanoadw ! � Iemepls paa ! nbaa aqj ` SV3 �:I3HM pue : uo ! slnlpgnS swled euopaS 01 uO! s ! n! pgns eqj jo aweu aql abuego o} jadOlanap bu ! sneo sngj ` juawa6ulalu ! aweu a 6ulujeouoo uoljeo ! unwwoo pan! a0aa aadolanap aql ` jeld eqj jo uollepaooei aqj of juanbasgns pue -VOOZ ` L jegweoaa UO panoidde SBM uO! s !n! pgnS elul0d e !oualen JOJ 1e1d 1eU13 e ` Sd3b3HM pue ` pollelsui eq ll !nn s}uawanoadw ! 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Developer agrees to construct said improvements strictly in accordance with County policies for sidewalk construction as those policies relate to location , method and type of construction , and all County development regulations and standards , including conditions and requirements of any applicable County right-of-way permit , all of which are hereby incorporated by reference and made a part hereof. 3 . In order to guarantee performance of this contract , Developer shall simultaneously herewith furnish an irrevocable letter of credit , having an expiration date of not less than ninety (90 ) days beyond the date set forth in Paragraph 1 , provided by a banking institution authorized to transact such business in this state , in a form to be approved by the County , naming Developer as customer and Bank of America , as the underwriting bank , in the amount of $ 74 , 156 . 60 , which amount is not less than one hundred fifteen percent ( 115 % ) of the estimated total cost of improvements remaining to be constructed , as determined in accordance with the County' s Subdivision and Platting Ordinance . It is understood that the full amount of the letter of credit shall remain available to the County and shall not be reduced during the course of construction without an express written modification thereof executed by all parties . Requested reductions shall not be unreasonably withheld by the County . Developer may at any time substitute guarantees , subject to the approval as to form and amount by the County . 4 . Up to $ 1 , 000 , 000 . 00 , or the limits of any applicable underlying or excess insurance coverage carried by Developer or to be obtained during the course of the construction of the subdivision improvements , Developer agrees to indemnify, hold harmless , and defend the County against any and all claims , damages , losses , and expenses , including attorney's fees , for property damage , personal or bodily injury , or loss of life , arising from the negligent acts or omissions of the Developer, its officers , employees , agents , or contractors , subcontractors , laborers , or suppliers , relating to the construction of the required sidewalk improvements , including all those improvements to be constructed on existing publicly dedicated or County owned property . 5 . The County agrees to approve the Final Plat , upon a finding as to compliance with all applicable provisions of the County' s Development Regulations and Ordinances and upon execution hereof. However , nothing herein shall be construed as creating an obligation upon the County to perform any act or construction or maintenance until such time as the required improvements are satisfactorily completed . Satisfactory completion in accordance with the land development permit , plans , specifications , and ordinance requirements of Indian River County shall be determined by the 2 F:WttomeyWancy\DOCS\FORMS\side k for loc valencia pointe.doc e County and shall be indicated by specific written approval of the Public Works Director or his designated representative , after receipt of a signed and sealed Certificate of Completion from the project engineer of record . 6 . The County agrees to issue building permits and Certificates of Occupancy prior to the installation of required sidewalk improvements so long as Developer is not in default of the terms of this Contract . 7 . In the event the Developer shall fail or neglect to fulfill its obligations under this contract and as required by the Code of Laws and Ordinances of Indian River County, Florida , the Developer, as principal , and the letter of credit shall be jointly and severally liable to pay for the cost of construction and installment of the required improvements to the final total cost , including but not limited to engineering , construction , legal and contingent costs , including reasonable attorney's fees incurred by the County , together with any damages , either direct or consequential , which the County may sustain as a result of the failure of Developer to carry out and execute all provisions of this contract and applicable ordinances of the County . In no event , however, shall the liability of the underwriting bank under this paragraph exceed the total amount of the original obligation stated in the letter of credit , less any approved reductions thereto . 8 . The parties agree that the County at its option shall have the right , but not the obligation , to construct and install or, pursuant to receipt of competitive bids , cause to be constructed and installed the required improvements in the event Developer shall fail or refuse to do so in accordance with the terms of this contract . Developer expressly agrees that the County may demand and draw upon the existing letter of credit for the final total cost of the improvements . Developer shall remain wholly liable for any resulting deficiency , should the letter of credit be exhausted prior to completion of the required improvements . In no event shall the County be obligated to expend public funds , or any funds other than those provided by the Developer, or the letter of credit to construct the required improvements . 9 . Any letter of credit provided to the County by Developer with respect to this contract shall exist solely for the 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 subcontractor, Taborer, materialman or other party providing labor, material , supplies , or services for construction of the required improvements , or to benefit any lot purchaser( s ) , unless the County shall agree otherwise in writing . 10 . This agreement is the full and complete understanding of the parties and shall not be construed or amplified by reference to any other agreement , discussion , or understanding , whether written or oral , except as specifically mentioned herein . This agreement shall not be assigned without the 3 F:Wttomey\Nancy\DOCS\FORMSIside k for loc valencia pointe.doc s express written approval of the County . Any amendment , deletion , modification , extension , or revision hereof or hereto shall be in writing , executed by authorized representatives of both parties . IN WITNESS WHEREOF , the parties hereto have set their hands and seals on the day and year first above written . HOLIDAY BU DERS I C . , a Florida corporation By --- Richard Hawkes , President r DEVELOPER INDIAN RIVER COUNTY , FLORIDA B v Thomas S . Lowther, Chairman Board of County Commissioners COUNTY AT Jeffrey K . Barton Clerk By: (seal ) Deputy Clerk APPROVED AS TO FORM AND LEGAI�.�UFFI ENCY : William G . o tins II County Attorney 4 F :\Attorney\Nancy\DOCS\FORMS\side k for loc valencia pointe.doc MOSBY MOIA BOWLES AND ASSOCIATES, INC. NWB G'o Wb� & en#WWW 2455 14th Avenue Vero Beach, Flodds 32860 Telephone: 772-589-0035 • Facetmlle: 772-7783817 E-rnakileffrnba@Whouth.net November 2, 2004 Mr. Christopher J . Kafer, Jr., P .E. Vw Band DdIvery Indian River County Engineering 1840 25`b Street Vero Beach, FL 32960 Subject: Valencia Pointe Indian River County, Florida Engineer' s Project Number: 02-506B Dear Mr. Kafer: As per a phone conversation with Mr. Wcatherington of your office, we understand that since this project is a `plat over site plan" only the sidewalks can be bonded to obtain a completion certificate. Therefore, the developer proposes to provide the county with a performance bond for the required sidewalks only as follows : Sidewalks 1 $ ,424 SF $3 . 50/SF $64,484.00 Add 15% S 9467160 Total Bond Amount $74,15CW have any questions regarding the above subject, please call. n M1 • , . =ve 0�pR .:, +; Ivia cc: Mr. parker Rushnell - Holiday Builders t4ov Robert Robb - Coy A. Clark Company ND1AN1m % ver, vvUNT %% =.Nt� NJERINC DiViS10 t � G " A E X T I 1