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Home My WebLink About2005-038 Grand Oak Estates 0r� SECOND MODIFICATION TO CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS NO . SD =03-03 -11 -CFC (2002070178 =35959) THIS SECOND MODIFICATION , made and entered into this 1st day of February, 2005 , by and between DOUBLE R & D INC . , a Florida corporation , 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 , the final plat for Grand Oak Estates was approved by the Board of County Commissioners of Indian River County on September 2 , 2003 ; and WHEREAS , as a condition of plat approval the Developer entered - into a Contract for Construction of Required Improvements No . SD-03-03- 11 -CFC (2002070178-35959 ) guaranteeing the completion of certain required improvements and posted Citibank , N . A. Irrevocable Letter of Credit No . 61604003 in the amount of $ 363 ,440 . 26 as security for the completion of those required improvements ; and WHEREAS , on September 10 , 2004 by Emergency Order of the County Administrator, an extension to complete the required improvements by December 1 , 2004 was authorized and the Citibank , N .A . Irrevocable Letter of Credit No . 61604003 in the amount of $ 363 ,440 . 26 was amended to extend the expiration date to January 15 , 2005 ; and WHEREAS, all the required improvements are not yet completed ; and WHEREAS , the Developer, Double R & D Inc . , has requested a second extension to complete the remaining required improvements and , has posted alternate security in the form of cash in the amount of $ 147 , 756 . 38 ; and WHEREAS , the amount of $ 147 , 756 . 38 is acceptable to Indian River County and is in accordance with the project engineer' s certified cost estimate , attached as Exhibit "A" ; and WHEREAS , Indian River County Code Section 913 . 10 ( 1 ) ( E ) states that for good cause shown , the Board of County Commissioners may in its discretion grant one or more extensions of time for performance of any contract for required improvements , provided the surety supporting such contract remains valid ; and NOW, THEREFORE , IN CONSIDERATION OF THE MUTUAL COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as follows : 1 . The date for completion of the required improvements as outlined in the Contract for Construction of Required Improvements No . SD -03 -03 -11 - CFC (2002070178 =35959) as modified , is extended to April 1 , 2005 . 2 . The funds currently in escrow in the amount of $ 147 , 746 . 38 , representing the amount required to guarantee completion of the remaining required improvements as certified to by the project engineer is adequate and is to remain in place . 3 . All other terms set out in the Contract for Construction of Required Improvements No . SD -03-03 -11 -CFC (2002070178 -35959) , 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 . DOUBLE R & D INC . , a Florida corporation By. / Daniel P . Hess , Sr. , President INDIAN RIVER COUNTY, FLORIDA by and through its Board of County Commissioners By: s. Thomas S . Lowther, Chairman BCC approved : 02 - 01 - 2005 A . K . Barton , C ourt t B . Deputy Clerk APPROVED AS TO FORM AND LEGAL SUFFICIENCY: By: � �G�� William G . Collins II 2 F:\Attomey\Nancy\DOCS\PLAN\MODIFICATON K2d grand oak estates.doc 01 / 10 / 2005 11 : 15 7727783617 MOSBY ASSOC PAGE 02 / 04 MOSBY MOiA BOWLES AND ASSOCIATES , IrIC. 6n rsu/riaty. 1 fjyri Z&4* 245514th Avenue Vero Telephone: 772.569-0035 • Facslrnf e: 772.778-36177 E-maih mm6e0bollsotith .net January 7, 2005 Mr, Chris Kafcr - Via Faesitnile � Mand Deliver y Indian River County Engineering 1840 25th Street Vero Beach, Fi_, 32960 Subject: Grand Oak Estates Indian River County, Florida Engineer's Proiecr. Number: 04. 122 Dear Mr. Kafer: Please find attached a revised copy of the cost estimate for the Performance bond for the subject project. It has been revised to reflect corrected utilitY costF per Mr, Hotchkiss ' review and s'gnagelstnPing percent completion is routed .for traffic .review. <.l ,t ,,:; fault 'yqu is vc an uestion% regard ' g , ub " l m the above c 1ect, P call . Y 4 ease � V ery 'r - r '3 r ti PP y_'1:.!I •�'.�I ice. + Jr rt I �/J4 tip• I . . . . ' •:� cc: Mr. Mike Hotchkiss — Indian River County Utilities w/ attachment ( iiia Fax) Ms . Lisa bless — IMuble R c D. Inc. w/ attachment ( Ka Fox) t f EXHIBI E � � - 1 • • : II II : tl 11 •LoofmaY • • • t 1 / ' t i 1 I TY D 1 CII t1 If • 1f Subbase 1 I _ r i M • 1 • • �� lt I_F45 I I fI 1 1 1 � 11 t 11 Mir • I t 11 • t1 II / Ito fill fl t1 . . . ��• • I t 1 / f • 11 : / tl � f rf If • : t tl • Ir 11 I / tl • . It �� 11 If li 1f / 1 t 11 • �j - NAM 1 t / Gt / 1 ' 1 • I I ` _ 1 01 / 10/ 2005 11 : 15 7727783617 MOSBY ASSOC PAGE 04 / 04 CONSTRUCTION COST ESTIMATE FOR GRAND OAK ESTATES COST OF COMPLETION AMOUNT IV. DRAINAGE A 18w ADS 37 LF $ 19.00 $ 703 . 00 80°� $ 14Q . 80 S. 15" ADS 45 LF S 17.00 $ 765. 00 C. 12" ADS 80 LF $ 15 .00 S 1 , 200.OD �� $ 153 .00 D . 18" GMP 49 LF $ 24 . Op $ 1 , 1T6 .D0 80% $ 240.00 E' Curb Inlet 4 t�1ch S 2 ,050.00 $ 8,200. 00 80% S 235 -20 F . Type C Inlet 1 each $ 18500.00 S 1 , 500. 00 BO% Is 1 ,640.00 G. Type D Inlet 8096 $ 300. 00 1 each $ 1 , 750.00 S 11 750. DO 8096 $ 350 .00 Ft. MES 4 each $ 400. 00 $ 1 ,600 . 00 8096 S 320.00 ' - 1p . Os I . Rip Ra f L5 $ 400.00 SQ96 $ 80.00 0raina Total 6 17 294. 00 eatance 3, 318. 20 V. OFF-SITE G A. IMaintenance of Traffic 1 LS $ 2 ,500. 00 i 2 , 500. 00. 8096 B. lGrade Swale 1450 Lt= S 4 , 001S 6, 800.00 Is 500. 00 C. Sod 14680 SF $ 0. 17 $ 2� $ 5 ,800.00 495.60 096 $ 2 ,495 .60 F . ExcavateJRodc old Oixie 1 LS S 21 ,290.00 $ 21 ,290.00 50% $ 10,645.00 E 1 " S-3 OverlayftWen/Shoulder 2450 SY $ 7.65 $ 18, 742.50 tF. f 1/2" S- 1 Widen' 5096 $ 8 , 371 .25 J 163 SY $ 8.65 $ 1 ,409.955Q% $ T04. 98Tack LS S 730 . 00 S 730 . 00 5096 $ 365A0 �4" Sidewalk 5' wide 3400 SF $ 2,70 $ 9, 1 $0.00 8096 $ 1 836 00 Ofi3ite Tohl $ 82148.05 Balance 31, 717. 83 r VI. LANDSCAPE BUFFER . 564 LF TOTAL LENGTH DOUBLE FRONT AG A Canopy Trees (6j100 LF Q t3W LF) 40sss_ each $ 225.00 $ 9,D00. 00 Q96 $ 9,000 . 00 t3. Understory Trees (31100 LF664 LF) 20 each S 90.00 S 1 ,800. 00 096 $ 1 ,80Q. 00 C. Shrubs (24/1 (m LF 664 LFA 15B each Is 8. 50 $ 1v351 .50 0% $ 1351 .30 Landz in tohl $ 12, 151 .$0 Balance i � z k vrl. ROFESsiONAL `' A 0 k 16 A Survey: sta7PCP;(* -buflts 1 LS $ 71500. 0015 7,SOO. QO S. Survey: SeComer 1 LS $ 1 ,.250. 001 250. 00 50% S 3 750.00 C . Engineer. ions 1 80% $ 250. 00 LS $ 7 , 5pQ.00 $ 7,500. 00 80% S 1 , 500. 00 � • IO� dS D . Soils Testing 1 LS S 4, 600 .00 S 4 ,500 . 00 8pgt; g 900. 00 I lilts . Profeasionai Tota! : 20 750. 00 Balance S6, 400. 00 Balance SUBTOTAL $ 100,341 .13 a ° • ORIGINAL 15% BONE) AMOUNT $ 47,405 .25 Certil . �y: , . " " n TOTAL $ 147.746.38 JL.-. , • vtr ceora; = FL PE# 47529 Date stay Mcia. Bowies 8, Ast at6 , Inc. ?455 14th A*We ... •s /Oro Beach, Florida .3296o CASH DEPOSIT AND ESCROW AGREEMENT THIS AGREEMENT is entered into this 1st day of February, 2005 , by and between DOUBLE R & D INC . , a Florida corporation ( Developer) , and INDIAN RIVER COUNTY, a political subdivision of the State of Florida ( County) : WITNESSETH ; WHEREAS , Developer is effecting a subdivision of certain property within Indian River County and is required to provide surety supporting a contract with the County for the construction of certain required improvements related thereto ; 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 One Hundred Forty-Seven Thousand Seven Hundred Forty-Six and 381100 Dollars ($ 147 , 746 . 38) , 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 any distinct or separable phase or improvement , or independent portion thereof, 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 disbursement desired and shall be accompanied by a sealed certificate from Developer's engineer describing the work completed , the actual cost thereof, the estimated cost of all remaining work which is secured by the escrow account , 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 . The amount of any given disbursement shall not exceed eighty (80 % ) percent of the total cost of improvements certified as being completed under the preceding paragraph ; i . e . , twenty (20 % ) percent of the cost of each phase , improvement, or portion thereof, shall be retained in the escrow account until the final reduction , which shall occur only after issuance of a Certificate of Completion in accordance with the County's Subdivision and Platting Ordinance . t FAAttorney\Nancy\DOCS\PLAN\cash deposit for K grand oak estates.doc 4 . Notwithstanding the above disbursement limits , at no time shall the escrow account balance be reduced below an amount equal to one hundred fifteen ( 115 % ) percent of the most recent approved cost estimate of the remaining required improvements . 5 . 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. 6 . Upon default by developer under the Contract , 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. 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 that said funds are necessaryto 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 . 7 . Any interest earned during the term of escrow, less administrative expenses , shall be disbursed to Developers at close of escrow. 8 . 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 . 9 . This Agreement, together with the attached Contract, 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 . z FAAttorney\Nancy\DOCS\PL.AN\cash deposit for K grand oak estates.doc 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 . DOUBLE R & D INC . , a Florida corporation DEV OBER B Y• ani 00. Hess , Sr. , President BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA By: S, c _ Thomas S . Lowther, Chairman Attest :_ Jeffrey K . Barton , Clerk BCC approved : 02 - 01 - 2005 Y• Deputy Clerk Office of agement udget By: Jason 7wn , Direc or Approved as to form and legal sufficiency: By: William G . Collins II County Attorney 3 FAAttorney\Nancy\DOCS\PLANlcash deposit for K grand oak estates Aoc 01/ 12/2005 Wire Transfer Credit -- 147, 746 . 38 ROBERT & SOPHIA O 'REILLY TTEE 1155 ESTATES DRIVE LAFAYETTE, CA 94549 285 125820 D A G EDWARDS AND SONS WIRE TRSF ONE N JEFFERSON AVE* ATTN CASH CONTROL DEPT* S LOUIS , MO 631032205* BENEFEIT OF INDIAN RIVER COUNT