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HomeMy WebLinkAbout2005-167 . - 1 o �� DEVELOPER' S AGREEMENT BETWEEN • P INDIAN RIVER COUNTY, FLORIDA AND 41ST STREET COMMERCIAL PARK, LLC FOR 41ST STREET COMMERCIAL PARK THIS AGREEMENT, entered this 17th day of May , 2005 , by and between INDIAN RIVER COUNTY, FLORIDA, a political subdivision of the State of Florida, 1840 25th Street, Vero Beach, Florida, 32960, hereafter called COUNTY, and 41ST STREET COMMERCIAL PARK, LLC, 5625 41 " Street, Vero Beach, Florida, 32967, telephone number (772) 569-4199, hereafter referred to as the DEVELOPER. WITNESSETH WHEREAS, the DEVELOPER has applied to build a commercial development to be known as 41 ST STREET COMMERCIAL PARK on approximately 11 acres of land on the south side of 41St Street, between 58th Avenue and 43 `d Avenue in Indian River County, Project Number SPMA- 0340-67 (2003040019-36157), the legal description is attached as Exhibit "A" and incorporated herein by reference, and; WHEREAS, the COUNTY and DEVELOPER share mutual concerns with respect to improvements at the intersection of State Road 60 and 43 `d Avenue, and; WHEREAS, the COUNTY is planning to make improvements to the intersection of State Road 60 and 43 `d Avenue, and ; WHEREAS, both the COUNTY and DEVELOPER can mutually benefit each other through a joint effort that will share the cost of the proposed SR 60 / 43 `d Avenue 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 true and correct and are thereby incorporated herein. 2 . To accommodate increased traffic generated by 41 " Street Commercial Park, the COUNTY would be required to make improvements to the intersection of SR 60 / 43 `d Avenue in the amount of $7,000,000, of which the DEVELOPER' S fair share of cost is 1 . 7594% or $ 123 , 158 . 00. The DEVELOPER shall pay to the COUNTY the sum of $ 123 , 158 . 00 prior to issuance of a land development permit, as a contribution for construction of the intersection improvements at SR 60 / 43 `d Avenue. 3 . The COUNTY shall be responsible for all construction coordination including advertisement for bids, contractor selection and construction inspection. 1 F :\Traffic\CRM\My Documents\L)evelopment\41 StCommercialPark. 3 .doe 4 . In the event of any litigation arising out of this Agreement, each parry shall bear its own attorney fees and costs . 5 . 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 . 6 . This Agreement shall be binding upon and inure to the benefit of the parties hereto and their successors, and assigns. 7 . 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 . 8 . 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. 9 , 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. 10 . 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 . 11 . 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. 12 . 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. 13 . 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. 14 . 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. A. In the event any term, condition, or clause of this Agreement is declared to be F:\Traffic\CRM\MyDocuments\Development\41 StCommercialPark.ldoc 2 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. IN WITNESS WHEREOF the COUNTY and DEVELOPER has caused these presents to be executed in their names, the day and year first above written. 41ST STREET COMMERCIAL PARK, LLC BOARD OF COUNTY COMMISSIONERS INDIAN RIVER RIVVEER COUNTY, LORIDA BY : BY : PRESENTATIVE N ME] Thomas S . Lowther, Chairman BCC Approved : May 17 , 2005 WITNESS . C41 � . � � �� J , / , ++ Approved : WITNESS : �C�«L�t W. [�.A .► .�1 � ? seal is acceptable in lace of witnesses B (Corporate p p ) Y . GAJ" ► Jo ird, Countykdministrator Attest. Jei `rt K, Bart o4470-wk, of Court unty Att iney /natio 49 (Approved as to form and legal sufficiency) t Indian River County Approved Date Administration li I or ' Budget `J / 0 Co. Afty. Risk Management D.S' /ISD Public Works F :\Traffic\CRM\My Documents\Development\41StCommercialPark. 3 . doc 3 EXHIBIT "A" 41 ST STREET COMMERCIAL PARK LEGAL DESCRIPTION THE EAST 11 . 03 ACRES OF TRACT 12 , SECTION 28 , TOWNSHIP 32 SOUTH, RANGE 39 EAST, ACCORDING TO THE LAST GENERAL PLAT OF LANDS OF THE INDIAN RIVER FARMS COMPANY SUBDIVISION AS RECORDED IN PLATBOOK 2 PAGE 25 OF THE PUBLIC RECORDS OF ST . LUCIE COUNTY, FLORIDA . SAID LANDS NOW LYING AND BEING IN INDIAN RIVER COUNTY, FLORIDA . SUBJECT TO ALL EASEMENTS AND/OR RIGHTS OF WAY OF RECORD .