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HomeMy WebLinkAbout2007-008 IF DEVELOPER' S AGREEMENT BETWEEN INDIAN RIVER COUNTY, FLORIDA AND ODYSSEY (II) DP V LLC 7 THIS AGREEMENT, entered this 9th day of January 2006, by and between INDIAN RIVER COUNTY, FLORIDA, a political subdivision of the State of Florida, 1840 25°i Street, Vero Beach, Florida, 32960, hereafter called COUNTY, and Odyssey (II) DP V LLC, 500 South Florida Avenue, Suite 700, Lakeland, Florida 33801 , hereafter referred to as DEVELOPER. WITNESSETH WHEREAS, the DEVELOPER has applied to develop a commercial development to be known as SUNRISE PLAZA, consisting of 16,380 square feet of retail (the "Project") to be built on the east side of 58°i Avenue, south of State Road 60 in Indian River County, Project Number SP-MA-05 -05- 19/2004100222, P-MA-05 -05- 19/2004100222, 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 & 58'h Avenue, and; WHEREAS, the COUNTY is planning to construct roadway improvements at the intersection of State Road 60 & 58th 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 State Road 60 / 58th 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 being true and correct and are thereby incorporated herein. 2 . To accommodate increased traffic generated by the Sunrise Plaza commercial development, the COUNTY would be required to make improvements to the intersection of State Road 60 and 58th Avenue in the amount of $ 13 ,500,000, of which the DEVELOPER' S fair share of cost is 1 . 52% or $205 ,200 . The DEVELOPER shall pay to the COUNTY the sum of $205 ,200 prior to issuance of a land development permit, as a contribution toward construction of the intersection improvements at State Road 60 and 58th Avenue. In the event that the COUNTY does not construct the State Road 60/58`h 1 Avenue intersection improvements as set forth in this Agreement, the COUNTY shall reimburse the amount paid by the DEVELOPER for such improvement on or before the earlier of ninety (90) days after the COUNTY has officially determined not to construct such improvement or, in the event that the COUNTY has not commenced with the construction of the intersection improvement project, fyv� (8fyearr fter the Effective Date of this Agreement. 5�Jx &AC 3 . The DEVELOPER shall dedicate the real property described in the attached Exhibit B to the COUNTY without compensation from the COUNTY (the "Dedicated ROW"). The DEVELOPER shall execute a special warranty deed for the Dedicated ROW in favor of the COUNTY within fifteen ( 15) days from the Effective Date. The DEVELOPER shall deliver the executed special warranty deed to the County Attorney' s Office who shall hold the deed in escrow until this agreement is approved by the Board of County Commissioners. Upon approval , the deed shall be released from escrow and shall be recorded in the public records of Indian River County. In the event this agreement is not approved by the Board, the original executed special warranty deed shall be returned to the DEVELOPER. 4. By executing this Agreement, given that the DEVELOPER has already paid the transportation impact fees for the Project, and subject only to the payment of the fair share contributions set forth in this Agreement, the DEVELOPER shall be deemed to have satisfied all necessary traffic concurrency requirements for the development of the Project. 5 . The COUNTY shall be responsible for the construction of the State Road 60 / 58'h Avenue intersection improvements including advertisement for bids, contractor selection and construction inspection. In the event that the COUNTY does not construct the State Road 60/58`" Avenue intersection improvements as set forth in this Agreement, the COUNTY shall reimburse the amount paid by the DEVELOPER for such improvement on or before the earlier of ninety (90) days after the COUNTY has officially determined not to construct such improvement or, in the event that the COUNTY has not commenced with the construction of the intersection improvement project, fide Kyears after the Effective Date of this Agreement. 6v Pur 6 . The DEVELOPER has paid all water impact fees, wastewater impact fees, and transportation impact fees for the Project. As such, the COUNTY has issued a 2 concurrency certificate, as reflected in the attached Exhibit "C ." 7. In the event of any litigation arising out of this Agreement, each party shall bear its own attorney fees and costs . 8 . 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. 9. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their successors, and assigns. 10 . 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. 11 . 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. 12. 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 parry by reason of the physical preparation of this Agreement. 13 . 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. 14. 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. 15 . 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. 16 . 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. 17. 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 3 rather than to any particular section or subdivision hereof. 18 . In the event any term, condition, or clause of this Agreement is declared to be 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. ODYSSEY (II) DP V, LLC, BOARD OF COUNTY COMMISSIONERS A Florida limited liability company INDIAN RIVER COUNTY, FLORI6A1 y' rs BY : ODYSSEY DIVERSIFIED PROPERTIES, BY: n INC., a Maryland corporation, its Manager, Gary C . eeler, Chairman By: 0 " Braxte, i a oriized agent " BCC Approved: 01 - 09 - 2007 WITNESS : - Approved: WITNESS : (Corporate seal is acceptable in pla of witnesses) Blird, J epnty Administrator JJ/ s ' Attes / Jeffrey K. Barton, Clerk of Tlurt County Attorney (Approved as to form and legal sufficiency) Indian River County App d Date Administration 1 �� Budget County Attorney Risk Management Public Works � '�n/ t 7-7 Traffic En ineerin i1 z6 ,'zo6� 4 EXHIBIT A A PARCEL OF LAND BEING A PORTION OF TRACTS 12 AND 13 , SECTION 4, TOWNSHIP 33 SOUTH, RANGE 39 EAST, ACCORDING TO THE LAST GENERAL PLAT OF LANDS OF THE INDIAN RIVER FARMS COMPANY SUBDIVISION , RECORDED IN PLAT BOOK 2, PAGE 25 , PUBLIC RECORDS OF ST. LUCIE COUNTY, FLORIDA, SAID LANDS NOW LYING AND BEING IN INDIAN RIVER COUNTY, FLORIDA, SAID PARCEL MORE PARTICULARLY DESCRIBED AS FOLLOWS : COMMENCING AT THE NORTHWEST CORNER OF THE SOUTHWEST 1 /4 OF SECTION 4, TOWNSHIP 33 SOUTH, RANGE 39 EAST, THENCE S00° 1715411W ALONG THE WEST LINE OF SAID SECTION 4, A DISTANCE OF 903 . 00 FEET; THENCE S89006' 10"E A DISTANCE OF 30. 02 FEET TO A POINT ON THE EAST RIGHT OF WAY LINE OF 58TH AVENUE (KINGS HIGHWAY) FOR A POINT OF BEGINNING; THENCE CONTINUE S89°06' 10 " E A DISTANCE OF 272 . 00 FEET TO A POINT ON THE WESTERLY LINE OF TRACT " C " , A REPLAT AND ADDITION TO THE WAL-MART AT VERO BEACH AS RECORDED IN PLAT BOOK 15 , PAGE 5 , PUBLIC RECORDS OF INDIAN RIVER COUNTY, FLORIDA; THENCE S00017'54"W ALONG SAID WESTERLY LINE, A DISTANCE OF 546 .01 FEET TO THE NORTHERLY RIGHT OF WAY LINE OF " INDIAN RIVER FARMS WATER CONTROL DISTRICT MAIN CANAL " HAVING A WIDTH OF 300. 00 FEET; THENCE S69 .35 '54 " W ALONG SAID NORTHERLY LINE, A DISTANCE OF 31 . 53 FEET; THENCE N00° 17'54"E A DISTANCE OF 201 .29 FEET; THENCE N89006' 10 " W A DISTANCE OF 242 . 50 FEET TO AFORESAID EAST RIGHT OF WAY LINE OF 58TH AVENUE (KINGS HIGHWAY) ; THENCE ALONG SAID EAST RIGHT OF WAY LINE N00017'54"E A DISTANCE OF 356 . 17 FEET TO THE POINT OF BEGINNING. CONTAINS 102,643 SQUARE FEET OR 2. 356 ACRES MORE OR LESS . EXHIBIT B y e 110, 10' P. 0. C. 34' SAMS EAST,AN ARKANSAS 3 ¢ CORPORATION - 10 aI I O.R.B. 1929, PG. 1142 4 p, po 0 HOME DEPOT USA, INC., A N ED DELEWARE CORPORATION II 20' LOT 5 P. O. B. 27.82' HOME DEPOT AT VERO S89e20119"E BEACH P. B. 155 PG. 28CRF PANTHER X LLC, { 589657'50"E IIA FLORIDA LIMITED LIABILITY COMPANY I 30.00'30 33390400007012000003.3 D.R.B. 1929 PC. 7146 o i lob r W � 0 = WH a io N e a m W ( 70 : ' — 8 Ito e o I r 0 60 120 Q �FFLORIOA£�IMITEOLLC, 60' — oW2 3 W 4I LIABILITY COMPANY SCALE AS SHOWN j o o �� J,"9040000101200000,3.3 F y W O.R.B. 1818, PG 1203 � CNL RESTAURANT NET 6 LEASE 9D' o 1 PROPERTIES If, INC., A o ! DELEWARE CORPORATION W LOT 4 0a HOME DEPOT AT VERO 10' BEACH 10' ^ C4 P. 6. 15, PG. 28 _ y O 1 0I r' 5 W Z � ^ n Ws = � I z = � ¢ E ; Q 3 Sa9e57'50"E CITY OF VERO BEACH, i{S ` 2.211 A MUNICIPAL i < Z 3 f CORPORA 77ON = O.R.B. 404, PG. 664 f Q O 2 ' $ COLLEGE LANE00z � l CITY OF ZERO BEACH, = W' I A MUNICIPAL g ' ( 0 aR 19 N 7 O F IIA Y) v O CORPORA 77ON 33390400001012000004.0 6 — _ O.R.B. 294, PG 334 - mb gYib.e mx a bad Mm a.a .e.nn or M. awe"r b 13 osw 6 h"w� ma niei my ✓ e Me m b 4 a aaa®fem a f abG meeu me MA momh4 Emmw we Af,m by IN flaps awre of eDww MA+d IaJ 9 vm e h Tpls a 61017—/, h A Jeh, vlln Cele p mt A, Sa6'm 4]202), M f Fkvpa 5 vlm Md Mot Mb oVame g b o fae eM mwato to Me bas' Of,pmnbfM� op mMlMe MeenmY„�aN 11a and 4Y61. /{ E4 tt nM.. PSM ft. TA § ! WIG 65 8 M07 VNN WM.TIT 112 S ANR£ M9 1H£ O¢YINAL RN Y/1 jt ff ME f1LIX1A IIffN4D av? T MVO mI ABOVE LS ��0.R6MpI6D ajdAMCn & O<IE 9OT Numem fvs �—� '�'^P ^ 1/5/� SKETCH OF PROPOSED RIGHT OF WAY 6"« ©� a R R 6 Ra FOR PARCEL 113 1 OF 2 EW " m p" 6. M1 n M INDIAN RIVER COUNTY, FLORIDA fT O u TOM FAX tml l 047035090 EXHIBIT B LEGAL DESCRIPTION BY SURVEYOR ALL THAT CERTAIN PIECE, PARCEL OR TRACT OF LAND SITUATE, LYING AND BEING IN THE SOUTHWEST QUARTER OF SECTION 4, TOWNSHIP 33 SOUTH, RANGE 39 EAST OF THE TALLAHASSEE BASE MERIDIAN, INDIAN RIVER COUNTY, FLORIDA. SAID LANDS BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS, TO WIT; COMMENCING FOR REFERENCE AT THE WEST QUARTER CORNER OF SAID SECTION 4; f THENCE. BEARING SOUTH 00'02'10" WEST, ALONG THE WEST LINE OF SAID SOUTHWEST QUARTER OF SECTION 4, A DISTANCE OF 903. 79 FEET TO A POINT; a € THENCE. LEAVING SAID WEST LINE, BEARING SOUTH 89'57'50' EAST, A i DISTANCE OF 30.00 FEET TO A POINT ON THE EASTERLY RIGHT OF WAY UNE 5 OF 58TH AVENUE (KINGS HIGHWAY) AND THE POINT AND PLACE OF BEGINNING OF THE HEREIN DESCRIBED PARCEL; I THENCE. LEAVING SAID EASTERLY RIGHT OF WAY UNE. BEARING SOUTH a 89'20119" EAST, A DISTANCE OF 27. 82 FEET TO A POINT; s THENCE, BEARING SOUTH 02'02'1D* WEST, A DISTANCE OF 117.55 FEET TO A PONT; f THENCE, BEARING SOUTH 05'12'16" WEST, A DISTANCE OF 237.96 FEET TO A POINT; i THENCE. BEARING NORTH 89'57' 50" WEST, A DISTANCE OF 2.28 FEET TO A f POINT LYING ON THE AFOREMENTIONED EASTERLY RIGHT OF WAY LINE OF 58TH AVENUE (KINGS HIGHWAY); t j THENCE, BEARING NORTH DO'02'10" EAST, ALONG SAID EASTERLY RIGHT OF s WAY LINE, A DISTANCE OF 354. 77 FEET TO THE POINT OF BEGINNING. s _+ THE ABOVE DESCRIBED PREMISES CONTAIN AN AREA OF SQUARE FEET OR OACRES, MORE OR LESS SUBJECT TO ALL EASEMENTS. CONDITIONS RES AND RESTRICTIONS AS CONTAINED WITHIN THE CHAIN OF TITLE, f c LEGEND SECTION LINE f PROPERTY LINE PROPOSED RIGHT OF WAY TAKING RIGHT OF WAY LINE F � - - - - - - - - - - - EASEMENT LINE ` P_O.C. POINT OF COMMENCEMENT .¢ a P.O.B. POINT OF BEGINNING • I P.B. PLAT BOOK PG. PAGE j O. R.B. OFFICIAL RECORDS BOO( � g sc xl 4 SURVEYORS NOTES Y ; 1 ) THIS IS A SKETCH OF LEGAL DESCRIPTION ONLY, NOT A & BOUNDARY RETRACEMENT SURVEY. rf 2) THE BEARING BASE FOR THIS SURVEY IS BASED UPON THE WEST LINE THE SOUTHWEST QUARTER OF SECTION 4, TOWNSHIP G f 33 SOUTH, RANGE 39 EAST. SAID LINE BEARS SOUTH a •• 00402410" WEST. 5 3) THE SCALE OF THIS DRAWING MAY HAVE BEEN DISTORTED d i DURING REPRODUCTION PROCESSES, if .,s Morzo �❑ 81QA '�'/� seer MuYev+ LEGAL DESCRIPTION OF PROPOSED .w .�P4+ RIGHT OF WAY FOR PARCEL 113 2 OF 2 f^, ocoxv n aW w mi wn. vn. M vw• w.. n. nse PR Cr N0. „,,, „t om ( . m._m.. wToa N: INDIAN RIVER COUNTY, FLORIDA Nov . 16 2005 Ka : E91PM P12 BOARD OF COUNTY COMMISSIONERS 1840 251h Street, hero Beach, Florida 32960-3365 PPVeomm; 1772, 567.8000 li November ! 64! 2005 AN CH0R J2N V liS' ('M i:NT CORP . CRP PAN'I'I IER X LLC 50 SOUTH FLORIDA ,AVENUE LAKEL.A T), FI . 33907 RE' S YEAR INITIAL CERTIFICATE OF CONCURKENCY D17 F.RNIiN.ATI(3N RflR SUNItI6E P7 .A7A Prc jcct Number: 2004100222 Dear ANCHOR INVPSTMENT CORP.: Please find cnclosed an Initial Cerffkatc eF C'cnascx•:nay Defemination valid for tip to five yearn from the dater of eerlifiease issuance. Within 3h1s petiocl you Inay obtain % our bi ildiug peuuwq. Sincerely, Saran Roftxmi. A1C.? tfiici; Long Range Plaming cc: Pile ,Dave Cox ccrccei l , h tter FROM FAX HUI Ncv. 16 2:=a5 03 : 21PM ::=2%2 CERT FTCATE OF CONCIJRRENCY DLTC;RMINATION - L`vITIAL - 5 PROJECT N UMBER: 2004100222 BYPIRATION DATE; 1 V912010 ISSUED TO: ANCHOR INVFSTMENT CORP, CRF PANTHER x, LLC 500 SOUTH FLORDA AVENUE LAKFI.AND, FL 33807 APPLICANT : ANCHOR INVTSTMENT CORP . CRF PA*NTEX X LLC 500 SOUTi l FLORIDA AVENUE LAKELAND. FL 33807 FOLIO NI)MBER: 33-39-04-0000I 01: 0-00003 .3 SUBJECT PROFERTY ADDR SS : 1820 58TH This is to certity that adequate Transportation, Solid Waste, Drainage, Parks, !Fater zmd Sewer facilities have been emormined to be available pursuant to the Indian River Cuuaty Concurrency Management System and capacities are hereby allocated for the following use(s) . LTSE DESCRIPTION UNITS Q1 TANTITY 820 CONS4 I ]'vDER SO,000 CrSF GSF 16380 This certificate of adequate facilities "rens with the land" as desaribod herein, 'Chis Cerci icate is therefore transferable with the Property, but may not be transferred to any other property. Community- DeY*elopntent ector cert,ccdi5