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Home My WebLink About2008-429A .� . . 0o , ASSIGNMENT OF (7 CONTRACT FOR CONSTRUCTION OF REQUIRED �> !� C' -' - L . '� 14 SIDEWALK IMPROVEMENTS No . SD- 04- W39 - CFCSIDE (200307003846952) WHEREAS , on September 13 , 2005 , Lennar Homes , Inc . , a Florida corporation , entered into Contract for Construction of Required Sidewalk Improvements No . SD - 04 -09 - 39 - CFCSIDE (2003070038- 46952), copy attached , with Indian River County in connection with property platted as Verona Trace Subdivision and The Villas at Verona Trace ; and WHEREAS , on December 6 , 2007 said contract was modified by Modification to Contract for Construction of Required Sidewalk Improvements, copy attached, wherein Lennar Homes , Inc . , a Florida corporation , now known as Lennar Homes , LLC , a Florida limited liability company (by Certificate of Conversion riled November 30 , 2006) requested an additional 2 -year extension to September 13 , 2009 to complete the remaining required sidewalks ; and WHEREAS , a portion or the sidewalks has been installed , and Lennar HOilles , LLC has submitted documentation to that effect , requesting a reduction to the amount of security necessary to construct the remaining sidewalks ; and WHEREAS , County staff has verified the sidewalk quantities remaining to be completed and supports a reduction in security from $ 590 , 625 . 00 to $383 , 906 . 25 ; and WHEREAS , additionally , Lennar Homes , LLC wishes to transfer and assign its interest in the property to MS Rialto Verona Trace FL , LLC , a Delaware limited liability company , and MS Rialto Verona Trace FL , LLC wishes to assume the obligations under said Contract for Construction of Required Sidewalk Improvements, as modified and substitute cash as security to guarantee the completion of the remaining sidewalks ; and WHEREAS , under paragraph 10 of said Contract for Construction of Required Sidewalk Improvements , the agreement shall not be assigned without the express written approval of the County ; and NOW , THEREFORE , the parties agree to the assignment of Contract for Construction of Required Sidewalk Improvements No . SD - 04 -09 -39 - CFCSIDE ( 2003070038 - 46952) , as modified , provided , however, that $ 383 , 906 . 25 cash be posted as substitute security with the County on or before December 2 , 2008 to guarantee completion of the required sidewalk improvements . ASSIGNOR : ASSIGNEE : LENNAR HOMES , LC , a Florida MS RIALTO VERONA TRACE FL , limited liabilit corn ` y LLC , a Delaware limited liability company B� Printed name : By : MS Rialto Residential Holdings , Title : G ham Jones LLC , a Delaware limited liability Vice President company , its member N a By : MSR Holding Company, LLC , a Delaware limited liability company , its member By : Lennar Homes , LLC , a Florida limited liability company , its Florida Manager a By Name : raham Jones Title : Vice President CONSENT TO ASSIGNNNIENT INDIAN RIVER COUNTY , FLORIDA BCC approved : Ixcerl r 23 2008 B3 . M.fesley S . Davis , Chalrnian Attest : Mary Louise Scheidt Clerk Ad Interim .A.p - IVED AS TO FORM, By : ��\�� Qum :. t•. O I EGAI , SUFFICIENCY Deputy Clerk BY x WILLIAM 'G . COLLINS, 11 COUNTY ATTORNEY 2 F:\Attorney\Nancy\DOCS\FORIvIS\assumption of side k for Verona Trace. doc S 5 � { S � s s . September 12 , 2008 Sender ' s Email : Robert. Smith «,Lennar. com R F, Mr . Chris Kafer, Jr. P .E . County Engineer SEP 17 2008 Indian River County 1801 27 "' Street INDIANr". 3` IV ?� z t•;.% r� t„1I`� -i"Y Vero Beach , FL 32960 Re : Verona Trace and the Villas of Verona. Trace 3end : 11 Col. 1n.terior Sidewalks Contract n 2003070039- 46952 Dear Mr. Kafer : i r 1711 August 17 , 2008 our office received notice from 111dian River County Office of Management & Budget requesting that an alternate form of security be delivered by September 25 , 2008 . Lennar Homes , LLC no longer owns this specific property and is working as the manger for the new owner . Lennar has requested from the owner a new form of security to be delivered by the date mentioned above . I 111 adCilt1U11 , Ll' nllfll' has asked ail 217gincer to determine the amol"1t of Slclewalks that leave been installed on the property . As of September 3 , 2008 ; Lennar ilas Installed 5 , 232 square yards or thirty- five percent ( 35 %) of the planned 15 , 000 square yards used to determine the value of the security. At this time, Lennar Is would prefer to reduce the amount required for the internal sidewalks by the thirty- five percent ( 35 %) to $ 383 ,906 . 25 . We ask that you consider the aforementioned information and agree to process the reduction . Should you have any questions or require additional infomlation , please feel free to contact me at ( 561 ) 209 - 7521 or the email address listed above . Sincerely, `� Cl✓1 ✓ 'r IkAiI , t t SCC -J- r G ,� r Robert G . Smith 6, e f roe n ei -f . Vice President CC : Jason E . Brown , Budget Director William G . Collins , ll , County Attorney 1013 N . State Road 7 , Royal Palm Beach , FL 33411 9 Phone : 561 -790-0202 9 Fax: 561 -790-4825 MICHAEL B . SCHORAH & ASSOCIATES , INC . PROJECT : VERONA TRACE 1850 FOREST HILL BLVD . , SUITE 206 WEST PALM BEACH , FL 33406 JOB NO . : 1387 ( 561 ) 968 -0080 BY : MJL 1 BP DATE : 913108 EB #2438 CHECKED BY : SHEET NO : 1 OF 1 SUBJECT : SIDEWALK QUANTITIES " REVISED : UNIT ITEM QUANTITY UNIT: PRICE TOTAL 98th Avenue including safe corners at 8th and 12th St . 21266 LF 8th Street 19653 LF 12th Street 11612 LF PROJECT INTERIOR Concrete 91107 LF Brick Paver 310 LF Formed ( Not Poured ) 183 LF I I * Based upon measurements by Brad PalrT, er 8/28108 Sidewalk Quantities . xls Previous Day Account Detail Repor Report Date 12/5/0 Page 2 of Trans Date Type Code Description Bank Ref Customer Value Date Credit Debit Text Field Ref 60J 425 , 255 . 50 OUTGOING WIRE TRANSFER 12/4/08 4195 Outgoing Wire XFER 0000000000 0000000000 / 112/4108 451 ACH Debit 0000000000 0000000410 4411247 . 23 000000000041003 FLA DEPT R !tK { 1214108 :?75 ZBA Credit 0000000000 0000000000 168 . 00 ZBA TRF FROM 7680027224 � 41 ,667 . 00 STATE OF FLORIDA PAYMENTS 12/4/08 142 ACH Credit 0000000000 0000000000 / 12/4/08 275 ZBA Credit 0000000000 0000000000 58 , 877 .46 ZBA TRF FROM 7680027208 90 . 956 . 37 ZBATRF FROM 7680039436 12/4/08 275 ZBA Credit 0000000000 0000000000 U � / INCOMING WIRE TRANSFER 12/4108 195 Incoming Wire Tran 0000000000 0000000000 383 , 906 .25 / information presented is unaudited and reflects the close of business on the date indicated . Verona "trace Subdivision & The Villas at Verona Trace CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK IMPROVEMENTS NO . SD -04 =09 - 39 = CFCSIDE (2003070038 -46952 ) THIS CONTRACT , made and entered into this .13± h day of � PntPmh�— , 2005 , by and between LENNAR HOMES , 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" . WiTNESSE T H : 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 September 13 , 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 " B " 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 relate to location , method and type of construction , and all County development F:\Attorney\Nancy\DOCSTLAN\verona trace side k.doc 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 Fidelity Guarantyand Acceptanceas the underwriting bank, in the amount o $�90 , 2 , w, ich amount is not less than one hundred twenty-five percent ( 123% ) of the estimated total cost of improvements remaining to be constructed , as determined in accordance with the County' s Subdivision and Platting Ordinances 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 . F:\Attorney\Nancy\DOCS\PLAN\verona trace side k.doc 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\PLANWerona trace side lcdoc IN WflFNESS WHEREOF , the parties hereto have set their hands and seals on the day and year first above written . LENNAR HOMES , INC . , a Florida corporation WITNE E DEVELOPER Itl sign : By - L print 'si'. lit David M . Baselice title : sign : Jere ( President o Vice Presid'et } _ prin ame : ' (S SEAL INnlAN RIVER COUNTY , FLORIDA-. By osephA . Baird APPROVED AS TO (FORM AND County Administrator LEGAL SUFFICI Ym Authority : Resolution No . 2005-121 YI! iliiarn K . DeBraall Assistant County Aititemey 4 F:\Attoney\Nancy\DOCSTII.M Lace side kdoc Verona Trace and Villas at Verona Trace Exhibit " B" Unit Price Schedule .( 8/31 !05 ) -- - - -- - -- - -Quantity Unit Unit Price noun -. . , E2231 Code No. Description _ _ ONSITE A. Internal Sidewalks `— 15 , 000 S .Y. 31 .50 $ 472, 500.00 1 Internal Sidewalks - -- CON11�UCT TOTAL $ 472;500.00 125% OF CONTRAG r $ 5901625.00 t� oa � v c1d S� Paae I of 1 Vol ana Trace Smit)euvlcion & The Villas at Verona Trace _ . - - - . . - __ ._ . .__ . . ' MODIFICATION TO_ _ . . _._ _ CONTRACT FOR CONSTRUCTION IMPROVEMENTS OF EQUIRED SIDEWALK N0 . SD - 04- 09 -39 -CFCSIDE (2003070038 -46952 ) THIS MODIFICATION , made and entered into this day Of da � 2007 , by and between LENNAR HOMES , INC . , a Florida corporation , now known as LENNAR HOMES , LLC , a Florida limited liability company ( by Certificate of Conversion filed November 30 , 200a1 ubdiv siton er referred to as Developer" , and INDIA RIVER Board Uof County hereinafter oliticCommissioners , of the State of Florida , by and 9 hereinafter referred to as " County" . WITNESSETH : WHEREAS , Developer entered into a Contract for Construction of required Sidewalk improvements No . SD - 04 - 09 - 304- CrrSli� E ( 20030iG03H - 46952 ) guaranteeing the completion o� certain ostedragBank off uired Americawalk pIr evocable on or before September 13 , 2007 an rovenlentsp Standby Letter of Credit No . 302007 as security to guarantee 5 in the amount' of 590omp completion ; and with tand n 625 expiration date of December 13 , VVIVIEREAS , a portion of sidewalk improvements has been completed ; and WHEREAS , the developer has (X ) requested an additional two - year extension to September 131 2009 to complete the remaining required sidewalk improvements , as allowed by code ; ( ) requested a substitution of security ( } requested a reduction in the amount of security necessary to complete the remaining sidewalks ; and ( ) provided an updated certified cost estimate attached as Exhibit " A" , NOW , THEREFORE , INERO N IDERATIN CONTAIOED , OFTHE parties es agree as COVENANTS AND PROMISES H follows : 1 . The date for completion of the required sidewalk improvements as outlined in the Contract for Construction of Requiredixte dedlktol� Sept September provements N3 , SD - 04 - 09- 39- CFCSIDE ( 2003070038 4695 ) 2009 . 2 , The $ 590 , 625 . 00 irrevocable letter d of-the credit on deposit for internal -- - sidewalks- is -- to -- be---extended- --90 .- day Y December 13 , 2009 , struction of Required 3 , All other terms set out in - 09 - 39tCFCSIDEract for on (200307003 &6952 ) Sidewalk Improvements No . SD -04 remain in full force and effect , " rtiges hereto have set their hands and IN WITNESS WHEREOF , . the pa seals on the day and year first above wrltt nt LENNAR HOMES , LLC , a Florida Signed in the se c limited liability company Sign : By : Print ; Da aselice Vice president Sign _ � " --- Print : . . .� , � �.t l � t� ' �^- DEVELOPER INDIAN RIVER COUNTY , 'FLORIDA by and through its Board of County ComrnissiOners By : times W . Davis , P , E , Public Works Director By : Robert M . Keating , AICP ;- Community Deve) pmeryt� irector R Authority : §913 . 09 ( 5 ) (bc , IRC Code AND )2 • AI' PRUVE 'SUFE C N BY DEBRAAL VJILLIA�1 U EPu -vty 0400 NV &TTA 11NFY 2 F .\Adtorney\Nancy\oOCS\PLAN\Verona bade side mod .doc