The URL can be used to link to this page

Home My WebLink About2008-1040q�08-0� $-4. DEVELOPER'S AGREEMENT BETWEEN Aoc�9 � yoy INDIAN RIVER COUNTY, FLORIDA AND FELLSMERE INVESTMENTS LLC THIS AGREEMENT, entered this 8th day of Apri 1 2008, by and between INDIAN RIVER COUNTY, FLORIDA, apolitical subdivision of the State of Florida, 180127 th Street, Vero Beach, Florida, 32960, hereafter called COUNTY, and FELLSMERE INVESTMENTS LLC, a Florida Limited Liability Company, 1708 Old Dixie Highway, #101, Vero Beach, Florida 32960, hereafter referred to as DEVELOPER. WITNESSETH WHEREAS, the DEVELOPER has applied to develop a commercial development to be known as ALDER, consisting of a 75 -room hotel, two restaurants, a gas station / convenience store and approximately 21,000 square feet of retail, hereafter referred to as the PROJECT, to be built within the city limits of Fellsmere, on the northwest corner of the intersection of County Road 512 and Interstate 95, at the address of 11050 Fellsmere Road (CR 512), Indian River County; and WHEREAS, the COUNTY and DEVELOPER share mutual concerns with respect to improvements at the intersection of CR 512 and the PROJECT entrance; and WHEREAS, as a result of their development, the DEVELOPER must design, construct and fund an eastbound left turn lane on CR 512 at the PROJECT entrance, a westbound right turn lane on CR 512 at the PROJECT entrance, and a traffic signal on CR 512 at the PROJECT entrance; and WHEREAS, both the COUNTY and DEVELOPER can mutuallybenefit each other through a joint effort in coordinating the installation and maintenance of a traffic signal on CR 512 at the PROJECT entrance. 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. To accommodate increased traffic generated by the Aldea commercial development, the DEVELOPER would be required to make improvements to the intersection of CR 512 and the PROJECT entrance by installing a traffic signal. The parties agree that the DEVELOPER cost to design and install the traffic signal is $100,000 (one hundred thousand dollars). The DEVELOPER shall pay to the COUNTY the sum of $100,000 (one hundred thousand dollars) prior to issuance of a County right-of-way permit, as a contribution toward construction of the traffic signal on CR 512 and the PROJECT entrance. 3. The COUNTY shall be responsible for the construction of the traffic signal on CR 512 at the PROJECT entrance. In the event that the COUNTY does not construct the traffic signal as set forth in this Agreement, the COUNTY shall reimburse the amount paid by the DEVELOPER for such improvement in the event that the COUNTY has not commenced with the construction of the traffic signal within five (5) years after the Effective Date of this Agreement. 4. After the new traffic signal has been installed by the COUNTY and activated in either a flashing or stop -and -go (red -yellow -green) mode, the COUNTY shall be responsible for performing all signal -related engineering, operation and maintenance activities. The DEVELOPER shall be responsible for funding all signal -related engineering, operation, maintenance and electricity costs, in perpetuity, including electric account start-up fees. Once each month after signal activation to either a flashing or stop -and -go (red -yellow - green) mode, the COUNTY shall prepare an invoice for payment by the DEVELOPER, which the DEVELOPER shall pay within 30 days. 5. All decisions regarding signal design, engineering, activation, timing, operation and maintenance shall be made by the COUNTY. 6. Prior to the issuance of the first Certificate of Occupancy for this Project, The DEVELOPER shall plan, design, obtain permits for and construct an east bound left turn lane on CR512 at the Project entrance and a west bound right turn lane on CR512 at the Project entrance in accordance with FDOT Green Book Specifications. The DEVELOPER shall provide the COUNTY with plans and specifications for the roadway improvements for review and approval. Once the DEVELOPER has amended the plans in conformance with COUNTY comments, the COUNTY shall approve all design plans, permit applications, and contract documents prior to construction. The DEVELOPER shall contract with only licensed, insured contractors for construction of this improvement. All contracts shall include Performance and Payment Bonds that shall name the COUNTY as an additional party covered by the Bonds. The DEVELOPER shall play 100% of the cost of planning, design, permitting and construction of these turn lanes. The DEVELOPER shall provide a bill of sale to COUNTY for the improvements in this paragraph together with a one year warranty covering said improvements. The DEVELOPER In the event of any litigation arising out of this Agreement, each party shall bear its own attorney fees and costs. 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 party by reason of the physical preparation of this Agreement. 13. 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. 14. 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. 15. 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. 16. 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 tern, 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. FELLSMERE BY: Michael WITNESS: (Corporate seal is LLC BOARD OF COUNTY COMMISSIONERS INDIAN RIVER CO Y, FLORIDA, _ B SandraX Bowden, Chairman BCC Approved: A ri 8, 20084 of witnesses) Deputy County Attorney (Approved as to form and legal sufficiency) Approved By U Joseph X�43aird, County Administrator Attest: lLF'"""' QQ,QR, j D C. Jeffrey K. Barton, Clerk of Court 4 Indian River County Approved Administration /Date 7 ,? 479 Budget �J County Attorney3 1 Is Mana ement Public Works 13 19 Traffic En ineerin 3 ,,S oR 4