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Home My WebLink About2005-238 v Falcon Trace - Plat One CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS NO . SD =03 =07 -18 -CFC/ PL1 (2001050202 =46465 ) THIS CONTRACT , made and entered into this 12th day of 2005 by and between Indian River Associates II , LLLP , a Florida limited liability limited partnership , 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 , Developer is commencing proceedings to effect a subdivision of land within Indian River County , Florida ; and WHEREAS , a final plat of the subdivision within the unincorporated area of Indian River County shall not be recorded until the Developer has installed the required improvements or has guaranteed to the satisfaction of the County that such improvements will be installed ; and WHEREAS , Developer requests the approval and recordation of a certain plat to be known as Falcon Trace = Plat One ; and WHEREAS , the required improvements are to be installed after recordation of this plat under guarantees posted with the County . NOW , THEREFORE , IN CONSIDERATION OF THE MUTUAL COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as follows : 1 . Developer agrees to construct on or before July 12 , 2006 , in a good and workmanlike manner, those improvements described as follows : See Exhibit "A" attached hereto or otherwise required by the Indian River County Code in connection with the approval of said plat . A copy of the plat shall be recorded in the Public Records of Indian River County , Florida upon the final approval of the Board of County Commissioners and made a part hereof for all purposes . 1 F :\Attorney\Nancy\DOCS\PLAN\falcon 1 k for con for loc 125% .doc 2 . Developer agrees to construct said improvements strictly in accordance with the land development permit , the most recent set of plans and specifications for this subdivision approved by the County and on file in the Planning and Development Division , 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 N A , as the underwriting bank , in the amount of $ 5 , 231 , 973 . 02 , which amount is not less than one hundred twenty-five percent ( 125 % ) 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 unless approved in writing by the County' s Public Works Director pursuant to Indian River County Code Section 913 . 10 . Requested reductions shall not be unreasonably withheld by the County , but shall be subject to administrative fees as established 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 improvements , including all those improvements to be constructed on existing publicly dedicated or County-owned property , such as street , sidewalk , bikepath , lighting , signalization , traffic control , drainage , water, or sewer improvements . 5 . The County agrees to approve the plat for recordation in the Public Records of Indian River County , Florida upon a finding as to compliance with all applicable provisions of the County's Subdivision and Platting Ordinance and upon execution hereof. The County shall accept those areas specifically dedicated to the County for the purposes indicated on the plat at the time of plat recordation . However , nothing herein shall be construed as creating an obligation upon the County to perform any act of construction or maintenance within such dedicated areas until such time as the required improvements are satisfactorily completed . 2 FAAttorney\Nancy\DOCS\PLAN\falcon 1 k for con for loc 125% .doc 1 7 Developer shall remain responsible for utility meter boxes , sewer clean outs , and drainage culvert inverts , to be in good repair, accessible , correctly plumbed , and not covered with topsoil , concrete or impervious material for the 3 -year maintenance period commencing after County issuance of a Certificate of Completion . Notice of this ongoing responsibility shall be provided by Developer to any subsequent builder/homeowner. Satisfactory completion in accordance with the land development permit , plans , specifications , and ordinance requirements of Indian River County shall be determined by the 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 . In the event the Developer shall fail or neglect to fulfill its obligations under this contract and as required by the Indian River County Code , the Developer, as principal , and the letter(s ) 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(s ) of credit , less any approved reductions thereto . 7 . 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( s ) of credit for the final total cost of the improvements . Developer shall remain wholly liable for any resulting deficiency , should the letter(s ) 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 underwriting bank to construct the required improvements . 8 . Any letter(s ) 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 , laborer, 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 . 9 . 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 3 F :\Attorney\Nancy\DOCS\PLAN\falcon 1 k for con for loc 125% .doc 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 , 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 . INDIAN RIVER ASSOCIATES II , LLLP , a Florida limited liability limited partnership BY : INDIAN RIVER II CORPORATION , a Florida corporation ENERAL PA TNER BY a_. tizl el e Mar Ica �e'nckz� INDIAN RIVER COUNTY , FLORIDA By : Y l Thomas S . Lowther, Chairman ATTEST : Jeffrey K . Barton , Clerk Board of County Commissioners By : BCC approved : July 12 , 2005 , Deputy Clerk APPROVED AS TO FORM AND LEGAL SUFFICIENCY : By: William G . Collins II County Attorney 4 FAAttorney\Nancy\DOCS\PLAN\falcon 1 k for con for loc 125% . doc IXHIBIT " A " EALCQN TRACE - PLAT 1 QQ2STESTIMATE 1 , Scott B. McGuire, a Florida Registered Engineer, License No. 39573, 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 estimated for said improvements is $5,231 , 973.02 . This estimate has been prepared , in part, to induce approval by the County of a final plat approval for Falcon Trace Plat 1 , and for the purpose of establishing proper surety amounts associated therewith . Clo�� 39573 Scott B. McGuire, P. E. FL Reg . No. UNIT ITEM #: DESCRIPTION : UNIT : QTY: PRICE : TOTAL: PLAT 1 : ON-SITE 1 jEarthwork Clear, grub, chip, and haul offsite LS 1 .00 $ 73, 500.00 $ 73, 500. 00 Strip topsoil CY 66, 000.00 $ 0.95 $ 62, 700.00 Excavate lakes Lakes 5,6,7, 9, 10, 11 , & 12 CY 509,500.00 $ 0. 50 $ 254,750. 00 Haul, spread , and compact CY 115,460. 00 $ 1 .53 $ 176,653. 80 Import fill, haul, and compact CY 43 200.00 $ 6.45 $ 278 ,640.00 Grade Site LS 1 .00 $ 51400.00 $ 51400.00 Sod lake banks / L. M . E. (Lks: 5,6,7 , 9, 10, 11 , 12 ; 18,790LF x 33' wide) SF 620,070.00 $ 0.27 $ 167,418. 90 Earthwork Subtotal : $ 1 ,019,062.70 2 Water 4" PVC WATERMAIN LF 300. 00 $ 10. 00 $ 31000.00 4" DIP WATERMAIN LF 130.00 $ 17. 00 $ 21210. 00 6" PVC WATERMAIN LF 11700. 00 $ 12.00 $ 209400. 00 8" PVC WATERMAIN LF 650. 00 $ 16. 00 $ 10,400.00 8" DIP WATERMAIN LF 250. $ 23. 00 $ 51750.00 GATE VALVE/BOX 6" EA 7.00 $ 745.00 $ 59215.00 GATE VALVE/BOX 8" EA 4.0 $ 11080.00 $ 4,320. 00 C FIRE HYDRANT/GV/ASSY EA 4 . $ 21600.00 $ 10,400.00 5 HYDRANT BOLLARDS EA 4.00 $ 270.00 $ 13080.00 SAMPLE POINTS EA 3.00 $ 115. 00 $ 345.00 WM MJ FITTINGS LS 0. 1 $ 58,250. 00 $ 9,902. 50 BLOWOFF ASSEMBLY EA 2. 00 $ 465 .00 $ 930.00 SINGLE SERVICE EA 10.00 $ 540. 00 $ 51400.00 DOUBLE SERVICE EA 13 . 06 $ 810.00 $ 10, 530.00 GUARDHOUSE SERVICE EA 1 .0 $ 605.00 $ 605.00 TEMPORARY JUMPER CONNECTION EA 1 . 0 $ 655.00 $ 655.00 FLUSHING POINT EA 1 . 00 $ 6 , 900. 00 $ 61900.00 WATERMAIN TESTING LF 3,030.06 $ 1 .80 $ 51454.00 Water Subtotal : $ 1039496.50 3 Sanitary Sewer 8" PVC SDR35 0-6 CUT LF 414.00 $ 20.00 $ 8,280. 00 8" PVC SDR35 6-8 CUT LF 95. $ 21 .00 $ 11995.00 8" PVC SDR35 8-10 CUT LF 529. 00 $ 23.00 $ 121167.00 8" PVC SDR35 10-12 CUT LF 771 . OF $ 32 .00 $ 24,672.00 8" PVC SDR35 12-14 CUT LF 290.00 $ 40.00 $ 112600.00 $ � 5 8" PVC SDR35 14-16 CUT LF 293. 00 $ 53.00 $ 15, 529.00 1018" DIP EPDXY 14-16 CUT LF 11 .00 $ 122 . 00 $ 11342.00 MANHOLE 0-6 CUT EA 1 .00 $ 11970.00 $ 1 ,970.00 MANHOLE 6-8 CUT EA 1 .00 $ 21250.00 $ 29250.00 MANHOLE 8-10 CUT EA 2 .0 $ 21510. 00 $ 51020. 00 MANHOLE 10-12 CUT EA 2 . $ 2,850.00 $ 51700. 00 MANHOLE 12-14 CUT EA 1 .00 $ 3,290.00 $ 31290.00 MANHOLE 14-16 CUT EA 4. 0 $ 31870.00 $ 15,480. 00 LIFT STATION EA 1 .0 $ 146,000.00 $ 146,000.00 OUTSIDE DROP CONN EA 2.0 $ 1 ,900.00 $ 3,800. 00 1 of 4 6/27/2005 Y FALCON TRACE - PLAT COST ESTIMATE MANHOLE COATING VF 138.00 $ 29.00 $ 41002 .00 SINGLE PVC SERVICE EA 10.00 $ 445 . 00 $ 41450. 00 J DOUBLE PVC SERVICE EA 18.00 $ 495 . 00 $ 87910.00 vf`� LONG GUARDHOUSE SERVICE EA 1 . 00 $ 12650. 00 $ 11650.00 IN-LINE CLEANOUT EA 4 .00 $ 225. 00 $ 900 . 00 r*� SEWER LATERALMM CONFLICT EA 4. 00 $ 237.00 $ 948. 00 LATERAL MARKERS EA 28. 00 $ 20.00 $ 560 . 00 SANITARY SEWER TESTING LF 21391 . 00 $ 0 .75 $ 1 ,793 . 25 TV TEST SEWER MAIN ONE TIME) LF 21391 . 00 $ 1 . 75 $ 41184 . 25 6" PVC FORCEMAIN LF 21720. 00 $ 12.25 $ 33, 320. 00 16" X 6" TAP/SLV/VLV EA 1 . 00 $ 61175. 00 $ 61175 . 00 FM ROAD CROSSING 17TH LANE EA 1 . 00 $ 6100. 00 $ 61100.00 Sanitary Sewer Subtotal : $ 332,08.7.50 4 Paving Stabilized Sub rade SY 11 , 116.00 $ 5 .00 $ 55 , 580. 00 8" Shellrock Base SY 71396 . 00 $ 11 . 50 $ 85,054 . 00 10" Shellrock Base SY 995 .00 $ 17 . 00 $ 16, 915 .00 Prime and Sand SY 8,391 .00 $ 0.40 $ 3 ,356.40 1 " Type S-1 11 Asphalt 1 st Lift SY 71396 .00 $ 4. 37 $ 32 , 320. 52 314" Type S-111 Asphalt 2nd Lift SY 71396. 00 $ 3.28 $ 24,258 .88 Type "F" Curb and Gutter LF 1 ,060.00 $ 10 .45 $ 11 ,077 .00 Type "D" Curb LF 11010.00 $ 13 . 15 $ 13 ,281 . 50 Header Curb LF 245.00 $ 22 . 00 $ 51390.00 Miami Curb with Curb Pad LF 41434.00 $ 10.70 $ 47,443. 80 5' Sidewalk Common Areas SF 5 , 100.00 $ 3. 50 $ 17,850.00 -s Striping and Signage LS 1 . 00 $ 21725.00 $ 21725 . 00 Final Grade R. O.W. SY 71396.00 $ 0.40 $ 21958.40 Sod along curbs SF 130008. 00 $ 0. 27 $ 31512 . 16 Sod along sidewalks SF 41080. 00 $ 0.27 $ 10101 .60 Gates / Swing arms / Keypad LS 1 .00 $ 71500.00 $ 7 ,500. 00 Brick Pavers SF 8, 530.00 $ 3 . 37 $ 28 ,746. 10 Paving Subtotal : $ 359,070.36 5 Storm Drainage - North Half RCP 18" LF 191 .00 $ 39. 50 $ 71544. 50 RCP 24" LF 861 . 00 $ 51 .00 $ 43, 911 .00 CMP 24" LF 63.00 $ 46. 00 $ 21898. 00 CMP 30" LF 68.00 $ 66.00 $ 41488.00 RCP 36" LF 262. 00 $ 85. 00 $ 225270. 00 CMP 36" LF 230. 00 $ 84.00 $ 19, 320 .00 TYPE P-9 INLET EA 5.00 $ 21600.00 $ 13 , 000.00 MIAMI CURB INLET EA 11 . 00 $ 21640.00 $ 29,040.00 TYPE J-9 INLET EA 1 . 00 $ 41440. 00 $ 41440. 00 CONC COLLAR 24" EA 2.00 $ 11500.00 $ 31000. 00 CONC COLLAR 36" EA 2 . 00 $ 11800. 00 $ 3 ,600. 00 CLEAN DRAINAGE STRUCTURES EA 17 . 00 $ 300.00 $ 5, 100.00 North Half - Drainage Subtotal $ 158,611 .50 Storm Drainage - South Half 6 (Preliminary Improvements) RCP 18" LF 11104 .00 $ 40. 00 $ 44 , 160. 00 CMP 18" LF 40. 00 $ 40.00 $ 11600.00 RCP 24" LF 1 ,281 .00 $ 51 .50 $ 65, 971 . 50 CMP 24" LF 20 .00 $ 45. 00 $ 900. 00 RCP 30" LF 374.00 $ 65 .00 $ 24, 310 . 00 CMP 30" LF 60 . 00 $ 66.00 $ 30960.00 RCP 36" LF 57 . 00 $ 86.00 $ 49902. 00 CMP 36" LF 190.00 $ 80. 00 $ 15,200. 00 TYPE P-9 INLET EA 6 . 00 $ 21190. 00 $ 13 , 140. 00 4FT DIA INLET EA 5.00 $ 21220 . 00 $ 11 , 100. 00 TYPE J-9 INLET EA 2. 00 1 $ 47050. 00 $ 81100 . 00 2 of 4 6127/2005 J FALCON TRACE - PLAT � COST ESTIMATE TYPE J INLET EA 2 . 00 $ 9 , 360 . 00 $ 18,720. 00 4FT DIA MANHOLE EA 3.00 $ 2,090.00 $ 6,270.00 TYPE E CONTROL STRUCTURE EA 2 .0 $ 5,200.00 $ 10,400.00 CONC COLLAR 18" EA 2 . 0 $ 1 ,410.00 $ 2 , 820.00 CONC COLLAR 24" EA 1 .00 $ 1 ,520.00 $ 1 , 520 .00 CONC COLLAR 30" EA 3. 0 $ 1 ,680.00 $ 5,040.00 MITERED END SECTION 18" EA 2 .0 $ 960.00 $ 1 ,920. 00 REMOVE HW/SET 5TR ON EX PIPE EA 2 . 00 $ 7 , 700.00 $ 15 ,400 .00 REMOVE EX. 18" CMP LF 70.00 $ 7. 00 $ 490. 00 South Half - Draina a Subtotal $ 255,923.50 7 Surve PRMs LS 1 .00 $ 6, 600.00 $ 6,600. 00 PCPs LS LO $ 2 ,200. 00 $ 2 , 200.00 Lot and Tract comers LS 1 . 0 $ 4 , 720. 00 $ 4, 720.00 Surve Subtotal : $ 13,520.00 8 En ineerin and Testin LS 1 . OQ $ 10, 000.00 $ 70,000.00 9 Landsca in 1 ,050 LF of Berm Cano Trees - 7D Ft. He ' ht Quercus vir iniana / Live Oak EA 19.OQ $ 200.00 $ 3,$00. 00 Platanus occidentalis I S camore EA 18.0 $ 200. 00 $ 3 ,600. 00 Un erst Trees - 5 Ft. Hei ht La erstroemia indica / Cra e M rtle EA 5.00 $ 120.00 $ 600.00 M rica cerifera / Wax Myrtle EA 5.0 $ 120.00 $ 600.00 � Li ustrum �a onicum / Ja anese Privet EA 5. 0 $ 120.00 $ 600.00 g , o5 Shrubs - 4 " Mei ht Nephrolepis exaltata 'Kimberly Queen'I Sword Fern EA 40. OQ $ 8.00 $ 320. 00 Tri sacum floridana / Gama Grass EA 40. 00 $ 8.00 $ 320 .00 Jasminum volubile / Wax Jasmine EA 40 .OQ $ 8. 00 $ 320.00 Viburnum obovatum / Walters viburnum EA 30 .00 $ 8.00 $ 240.00 Mulch LF 1 ,050. 00 $ 4. 38 $ 4 , 599.E Sod Installation LF 1 ,050. 00 $ 7. 00 $ 7, 350.00 Landsca in Subtotal ; $ 22,349.00 10 Streetli hts - FPL Standard No Cha a EA 16 .00 $ - $ - 11 Mobilization / De-mobilization One Time LS 1 .00 $ 20,000.00 $ 20,000.00 ON-SITE TOTAL: $ 2 294, 121 . 06 PLAT 7 : OFF-SITE 72 21st Street SW - Construction MOBILIZATION LS 1 . 00 $ 10,000.00 $ 10, 000.00 CONCRETE REMOVAL LS 1 . 00 $ 1 ,080.00 $ 1 , 080.00 FINAL GRADE R.O.W. LS 1 . 00 $ 15, 120.00 $ 15, 120.00 12" STABILIZED SUBGRADE SY 13 , 110. 00 $ 5. 50 $ 72, 105. 00 8" STABILIZED SHOULDER SY 2,645.00 $ 8.35 $ 22 , 085. 75 12" COQUINA BASE SY 11 , 900.00 $ 14.25 $ 169,575.00 6" COQUINA BASE SY 1 ,652 .00 $ 8.20 $ 13, 546.40 1 -1 /2" S-3 ASPHALT 1st LIFT SY 11 ,900.00 $ 7. 18 $ 85 ,442.00 1 " S-3 ASPHALT 2nd LIFT SY 13, 100.00 $ 5. 25 $ 68, 775.00 TYPE F CURB LF 2,330.00 $ 11 .90 $ 27 ,727 , 00 VALLEY GUTTER LF 200.00 $ 16. 20 $ 3 ,240. 00 CONCRETE WALKS SY 1 ,550. 00 $ 29. 15 $ 45, 182. 50 51GNS 8 STRIPING PAINT 1st LIFT LS 1 .00 $ 6 ,000.00 $ 6,000.00 STRIPING THERMO 2nd LIFT LS 1 .OD $ 25,255. 00 $ 25,255.00 21st Street SW Subtotal: $ 565, 133.65 3 of 4 6/27/2005 FALCON TRACE - PLAT 7 n CQST ESTIMATE 13 27th Avenue SW - Turn Lane MOBILIZATION LS 1 .00 $ 10,000.00 $ 107000.00 MOT LS 1 . 00 $ 22 , 575 . 00 $ 22 ,575.00 FINAL GRADE R.O.W. LS 1 .00 $ 91 ,800.00 $ 91 , 800. 00 STABILIZED SUBGRADE & SHOULDER SY 61600.00 $ 12 . 75 $ 84, 150.00 12" COQUINA BASE SY 31620.00 $ 16.20 $ 58t644. 00 6" COQUINA BASE SY 1 ,825.00 $ 10. 25 $ 18,706. 25 1 -1 /2" S-3 ASPHALT 1st LIFT SY 31620.00 $ 8.75 $ 31 ,675.00 V S-3 ASPHALT 2nd LIFT SY 81500.00 $ 6. 10 $ 51 , 850.00 VS-111 LEVELING TN 310. 00 $ 102 .60 $ 31 ,806.00 4" CONCRETE WALKS SY 21520.00 $ 29. 15 $ 73,458.00 SIGNS & STRIPING PAINT 1St LIFT LS 1 .00 $ 31965. 00 $ 31965.00 STRIPING THERMO 2nd LIFT LS 1 . 00 $ 17, 530.00 $ 17,530.00 27th Avenue SW Subtotal : $ 4969159.25 P14Water Main Extension 12" WATER MAIN - 27th STREET SW LF 31885.00 $ 65 . 00 $ 252 ,525.00 12" WATER MAIN - 17th LANE SW LF 11550.00 $ 65. 00 $ 100,750.00 12" WATER MAIN - DIRECTIONAL BORE LF 90. 00 $ 335.00 $ 303150.00 Sub-total : $ 383,425. 00 SURVEY 3% $ 11 ,502 .75 BIDDING AND AWARD 2% $ 71668.50 CONSTRUCTION SERVICES 3% $ 11 ,502.75 ADMINISTRATION 2% $ 71668.50 BONDING 2% $ 71668. 50 Water Main Extension Subtotal : 4299436.00 11 15 Force Main Extension 12" Force Main - 17th LANE SW LF 2,509.00 $ 65.00 $ 1631085.00 12" Force Main - DIRECTIONAL BORE LF 50 .00 $ 335. 00 $ 161750.00 Sub-total : $ 179, 835.00 SURVEY 3% $ 51395.05 BIDDING AND AWARD 2% $ 39596.70 CONSTRUCTION SERVICES 3% $ 51395.05 ADMINISTRATION 2% $ 31596. 70 BONDING 2% $ 31596.70 Force Main Extension Subtotal : $ 201 ,415.20 OFF-SITE TOTAL: $ 1 692, 144. 10 16 On-site / Off-site Contingency (5%) $ 199,313. 26 ON-SITE & OFF-SITE TOTAL COST: (Including 5% Contingency) $4, 185, 578,42 PLAT 1 = BOND AMOUNT. (125% of Total Const. Cost) $5, 231 , 973. 02 4 of 4 6/27/2005 4f Falcon Trace - Plat One CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK IMPROVEMENTS NO . SD =03 =07 - 18 -SIDE/ PL1 (2001050202 =46465 ) THIS CONTRACT , made and entered into this 12th day of Jul y , 2005 , by and between Indian River Associates ll , LLLP , a Florida limited liability limited partnership , 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 , Developer is commencing proceedings to effect development of land within Indian River County , Florida ; and WHEREAS , a Final Plat for the development within the unincorporated area of Indian River County shall not be approved until the Developer has installed the required improvements or has guaranteed to the satisfaction of the County that such improvements will be installed ; and WHEREAS , the required sidewalk improvements are to be installed after Final Plat approval , under guarantees posted with the County . NOW , THEREFORE , IN CONSIDERATION OF THE MUTUAL COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as follows : 1 . Developer agrees to construct by July 12 , 2007 , a date being within two years of approval of Final Plat , in a good and workmanlike manner , those improvements described as follows : See Exhibit "A" attached hereto . or otherwise required by the Code of Laws and Ordinances of Indian River County in connection with the approved Preliminary Plat and Land Development Permit , which are incorporated by reference into this contract . 2 . Developer agrees to construct said improvements strictly in accordance with County policies for sidewalk construction as those policies F:\Attorney\Nancy\DOCS\PLAN\falcon 1 side k for loc 125% . doc r 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 Rank of Amari rr" a "F V _ A _ , as the underwriting bank , in the amount of $44, 329 . 69 , which amount is not less than one hundred twenty-five percent ( 125 % ) 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 , but shall be subject to administrative fees as established 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 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 . 2 F :\Attomey\Nancy\DOCS\PLAN\falcon 1 side k for loc 125%.doe ,r 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, laborer, 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 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 . 3 F :\Attomey\Nancy\DOCS\PLAN\falcon 1 side k for loc 125% .doc 1 IN WITNESS WHEREOF , the parties hereto have set their hands and seals on the day and year first above written . INDIAN RIVER ASSOCIATES II , LLLP , a Florida limited liability limited partnership BY : INDIAN RIVER II CORPORATION , a Florida corporation ENERALPARTNER By I � A am , Vic en L t DEVELOPER INDI RIVER COUNTY , FLORIDA By Thomas S . Lowther, Chairman Board of County Commissioners COUNTY ATTEST : Jeffrey K . Barton , Clerk BCC approved : July 12 , 2005 By : ( seal ) Deputy Clerk APPROVED AS TO FORM AND LEGAL SUFFICIENCY : L &PC \ �wJ William G . Collins II County Attorney 4 F :\Attorney\Nancy\DOCS\PLAN\falcon 1 side k for loc 125% .doc • XHTip w LWItepee FSA ,,,CON TRACE!'1- PLAT 1 COST ESTIMATE I , Scott B. McGuire , a Florida Registered Engineer, License No. 39573, 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 estimated for said improvements is $44 , 329 .69. This estimate has been prepared , in part, to induce approval by the County of a final plat approval for Falcon Trace Plat 1 , and for the purpose of establishing proper surety amounts associated therewith . 39573 Scott B. McGuire , P . E . FL Reg . No. UNIT ITEM #: DESCRIPTION : UNIT : QTY: PRICE : TOTAL : PLAT 1 : ON-SITE 4 IPaving 5' Sidewalk 4t4 TMRAL SF 91650 . 00 $ 3 . 50 $ 33 , 775. 00 ON-SITE TOTAL : $ 335775. 00 Contingency 5 4 $ 10688, 75 TOTAL CONSTRUCTION COST $35, 463. 75 PLAT 1 - BOND AMOUNT: (125% of Total Const, Cost) $44, 329x69