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HomeMy WebLinkAboutItem 03 Approval of a Two-Year Warranty Surety and Maintenance, Materials, and Workmanship Agreement with Ocoee Medical Developers LLC for Ocoee Medical OfficefIodda AGENDA ITEM COVER SHEET Meeting Date: November 15, 2022 Item # Reviewed By: Contact Name: Martrivus Keaton Department Director: Micha I Ru e/ Contact Number: 407-554-7109 City Manager: Robert Fonl�° -. - Background Summary: Ocoee Medical Office is located in the northwest corner at the intersection of W. Colonial Drive and Maguire Road. The property consist of (1) 7,232 square foot medical office building. The infrastructure improvements include potable water, sanitary sewer, other private utilities, a stormwater collection system, and associated landscaping. Identified punch list repairs are currently being completed, and the developer is nearly ready to start the two-year warranty period for the public improvements. As a requirement of the Land Development Code, the developer is required to furnish the City a Surety to cover any possible damages discovered during the next two years. Should the developer not choose to make those repairs, Ocoee Medical Developers LLC has provided the City with an Escrow in the amount of 10% of the constructed improvements. The Escrow provided is for a grand total of $ 708.20. The attached Maintenance, Materials, and Workmanship Agreements (Form 8 from the Land Development Code) act as the executable document between the developer and the City. The Surety will be returned to the developer upon completion of the two-year warranty period and the repair of any damages caused over those two years. Issue: Should the City accept the Surety, as provided by Ocoee Medical Developers LLC, for the two-year warranty for Ocoee Medical Office and execute the Maintenance, Materials, and Workmanship Agreement? Recommendations: The Development Services Department recommends the acceptance of the Surety and the execution of the Maintenance, Materials, and Workmanship Agreement with Ocoee Medical Developers LLC for the Ocoee Medical Office. Attachments: 1. Maintenance, Materials, and Workmanship Agreement with Ocoee Medical Developers LLC. 2. Escrow (Check) in the amount of $ 708.20 Financial Impact: There are no financial impacts to the City in accepting this two-year warranty Surety. X (please mark with an 'x') Public Hearing Ordinance First Reading Ordinance Second Reading Resolution Commission Approval Discussion & Direction Original Document/Contract Attached for Execution by City Clerk Original Document/Contract Held by Department for Execution Reviewed by City Attorney Reviewed by Finance Dept Reviewed by For Clerk's Dept Use: Consent Agenda Public Hearing Regular Agenda N/A N/A N/A I MAINTENANCE MATERIALS AND WORKMANSHIP ESCROW AGREEMENT This Agreement is entered into this e day of , 20 , by Ocoee Medical Developers, LLC., hereinafter referred to as "Developer" and the City of Ocoee, a Florida municipal corporation, hereinafter referred to as the "City". WHEREAS, Developer is the owner of certain real property located in Orange County, Florida more fully described in the attached Exhibit "A" which exhibit is incorporated herein by this reference (the "Property"); and WHEREAS, Developer has developed and constructed on the property, a subdivision known as Ocoee Medical Office (the "Subdivision") and in connection therewith has installed with the approval of the City certain roads, streets, sewers, water systems, drainage works, and/or other improvements (the "Inprovements") under the provisions, conditions, and requirements of the City's Subdivision Regulations and the subdivision approval granted the 2h day of September, 2022, by the Board of City Commissioners; and WHEREAS, under Section 4-4, Subdivision Review Process, of the City's Land Development Code, Developer is required to warrant the maintenance, materials, and worlunansluip of the Improvements constructed by Developer within the Subdivision; and WHEREAS, Section 4-4, Subdivision Review Process, of the City's Land Development Code provide that Developer may guaranty such maintenance, materials, and worlunanshp by placing a cash escrow with the City; and WHEREAS, Developer wishes to establish an escrow fund hi order to guaranty the maintenance, materials, and worlananslup of the Improvements within the Subdivision as required by Section 4-4, Subdivision Review Process, of the Land Development Code. NOW THEREFORE, the parties agree as follows: SECTION 1. ESTABLISHMENT OF ESCROW FUND. Developer does hereby establish an escrow fiord with the City in the amount of $708.20 to guaranty the maintenance, materials, worlunansup, and structural integrity of the hnprovements, This escrow fiend shall be placed by the City in an account at a local financial institution and shall be disbursed ornly hi accord with the terms of this Agreement. SECTION 2. TERMS AND CONDITIONS FOR RETURN OF ESCROW FUND. In the event Developer shall maintain the Improvements in a first class condition for a period of two (2) years fi-om the date of issuance of the Certificate of Completion for the Improvements, and if Developer shall replace all paving or other structures which within said two (2) year period shall be found by the City not to comply with said subdivision approval, and that if the Developer shall replace any other Improvements the materials, worlananstup, or structural integrity of which shall be found by the City not to comply with said subdivision approval for a two (2) year period following issuance of the Certificate of Completion by the City, and shall pay any and all costs or expenses incidental to the performance of any work required to be performed hereunder, then the monies escrowed hereunder less an administrative fee of two (2) percent which shall be retained by the City and less all bank charges with respect to the maintenance of the escrow fund shall be returned to the Developer. SECTION 3. CITY'S RIGHT TO DRAW ON ESCROW FUND. The funds escrowed hereunder shall be used by the City only to repair or replace the Improvements deemed by the City to not comply with the subdivision approval except as mutually agreed to by the parties, If at any time during the two (2) year period following the issuance of the Certificate of Completion for the Improvements the City notifies Developer in writing of any deficiency or fault in the materials, workmanship, or structural integrity of the Improvements, and Developer fails to correct such deficiency or fault to the satisfaction of the City within thirty (30) days of such written notice, then the City may make such corrections, the cost of which shall be paid for out of the escrow fund for this purpose without further notice to Developer. Notwithstanding anything contained in Section 2 above, in the event the City has notified Developer of a deficiency or fault as provided above, the term of this Agreement shall continue until such deficiency or fault is corrected. SECTION 4. CONTINUED APPLICABILITY OF SUBDIVISION RE, GULATIONS. This Agreement shall not be construed to relieve or release Developer fi•om any of its obligations under the City Subdivision Regulations with respect to the Improvements. SIGNATURES TO FOLLOW IN WITNESS WHEREOF, the parties hereto have caused these presents to be signed as of the date and year first above written. Signed, sealed and delivered in the presence of; Print ai e ' k e-1 _ ` V Print Name / ��c� d-- ATTEST; By: City Clerk (SEAL) For the use and reliance by the City of Ocoee only, Approved as to form and legality this day of , 20 SHUFFIELD, LOWMAN & WILSON, P.A. City Attorney DEVELOPER; Ocoee Medical Developers, LLC, a Florida limited liability company By; Print Name: Its; �'v CITY: CITY OF OCOEE, FLORIDA, a Florida municipal corporation IN Mayor Approved by the Ocoee City Commission at a meeting held on , 20_ under Agenda Item No. T EXHIBIT "A" (Legal Description of Real Property Constituting the SubdlvI§jqn) FROM T1 IE SOUTHEAST CORNER OF SFCTlO'N 19, TOWNSHIP 22 SOUTH, RANGE 29 FAST, RIJN NORTH 75 FEET ALONG TI IE EAST' BOUNDARY 01-TFIE SOUTHEAST 1/4 OF SAID SECTION 19, THENCE NORTH 89-57'08" WEST 30 FEET PARALLEL TO THE SOUTH 13OUNIDARY OF AFORESAID SOUTHEAST 1/4 FOR THE POINTO' BEGINNING, SAID POINT BEING THE INTERSECTION OF THE NORTH RIGHT-OF-WAY LINK OVSTATE ROAD 450 AND THE WEST RI(jHT-OF-WAY LINE OF MAGUIRE ROAD; THENCE CONTINUE NORTH 89057'08" WEST 298,50 FEETALONG THE SAID NORTH RIGHT -OF. - WAY LINE OF STATE ROAD U50 TO A POINT` ON THE WEST BOUNDARY OF THE EAST 1/4 OF THE SOUTHEAST 1/4 OF AFORESAID SF 1/4,,TI-lI,.'NCE NORTH 00'03'29" EAST 459,42 FEET ALONG SAID WEST BOUNDARY; TI IENCE SOUTH 89'57'08" EAST298.03 FEET' PA RA LLEL TO THE AFORESAID SOUTH BOUNDARY OFTHESOUTHEASTI/41TO A POINT ON THE AFORESAID WEST RIGHT-OF-WAY LINE OF MAGUIRE ROAD, THENCE SOUTH ALONG SAME 459.42 FEET TO THE POINT OF BEGINNING, LESS AND EXCEPTING THEREFROM T1IF] LANDS DESCRIBED IN THE FOLLOWING 4 fNSTRUMENTS: 1) SPECIAL WARRANTY DEED RECORDED IN OFFICIAL RECORDS BOOK 2933, PAGE 391, OF THE PUBLIC RECORDS OF ORANGE COUNTY, FLORIDA. 2) SPECIAL WARRANTY DEED RECORDED N OFFICIAL RECORDS BOOK 3941, PAGE 3945, OF THE PUBLIC RECORDS OF ORANGE COUNTY, FLORIDA. 3) ORDER OF TAKING RECORDED IN OFFICIAL RECORDS BOOK 9191, PAGE 3201, AND THE STIPULATED FINAL JUDGMENT RECORDED IN OFFICIAL RECORDS BOOK 9330, PAGE 2322, OF THE PUBLIC RECORDS OF ORANGE COUNTY, FLORIDA, Surveyor's Description From the, southeast comer of Section 19, Township 22 South, Range 28 East, run north 75 feet along the cast boundary of the southeast 1/4 of said Section 19, thence N 89'57'08" W 79.86 feet parallel to the south boundary or aforesaid southeast 1/4 for the POINT QFBEGINNING; thence continue to run N 89'57'08" W,a distance of 125.14 feet; thence run N 00'02'52" F, a distance of 175.00 feet, thence run S 89'57'08" E, a distance of 154,85 feet-, thence run S 00'00'00" F, a distance of 145.07 feet; thence run S 44'57'24" W, a distance of42.26 feet to the POINT OF BEGINNINO, BEING AND INTENDED TO BE the same property conveyed to 7-Eleven, Inc. by deed effective as ot'April 6, 2011, recorded April 11, 2011, as Doc. No, 20110185029 in Book 10197, Page 6453, in the Official Public Records of Orange County, Florida.