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HomeMy WebLinkAboutItem #04 Approval of Two-Year Warranty Surety and Maintenance, and Workmanship Escrow Agreement with Standard Pacific Homes of Florida for Arden Park Southlkw 4-wimfor oco(>-e fIorida AGENDA ITEM COVER SHEET Meeting Date Item # Contact Name: Contact Number: October 1. 2013 r , Reviewed By: ; Department Director: ;' City Manager: �.Y David A. Wheeler, P.E. 407 - 905 -3100, ext. 1504 Subject: Two -Year Warranty Surety and Maintenance, Materials, and Workmanship Escrow Agreement with Standard Pacific Homes of Florida GP, Inc. of Florida GP Inc. for Arden Park South (District 4 — Commissioner Keller) Background Summary: Arden Park South is a 157 lot single family residential subdivision located on Clarcona -Ocoee Road between Ingram and Clarke Roads. The developer has completed construction of the infrastructure improvements and has requested a Certificate of Completion. The infrastructure improvements include the water, sanitary sewer, and reuse utilities, the streets and stormwater collection system, and the perimeter wall and fence. All identified punch list repairs have been completed and the developer is ready to start the two -year warranty period. 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. Standard Pacific Homes of Florida GP, Inc. has provided the City with a check in the amount of 10% of the constructed improvements. The attached Maintenance, Materials, and Workmanship Escrow Agreement (Form 8 from the Land Development Code) will act as the executable document between the developer and the City in the event that the surety is monetary. The surety will be returned to the developer upon completion of the two -year warranty period and the repair of any damages caused over that two year period. Issue Should the City accept the surety as provided by Standard Pacific Homes of Florida GP, Inc. for the two -year warranty for Arden Park South and execute the Maintenance, Materials, and Workmanship Escrow Agreement with Standard Pacific Homes of Florida GP, Inc. Recommendations The Engineering Department recommends the acceptance of the surety and the authorization of the Mayor and City Clerk to execute the Maintenance, Materials, and Workmanship Escrow Agreement with Standard Pacific Homes of Florida GP, Inc. Attachments: Maintenance, Materials, and Workmanship Escrow Agreement with Standard Pacific Homes of Florida GP, Inc. Financial Impact: There are no financial impacts to the City in accepting this two -year warranty surety. Type of Item: (please mark with an `k') Public Hearing For Clerk's Dept Use: Ordinance First Reading Consent Agenda Ordinance Second Reading Public Hearing Resolution Regular Agenda 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 N/A Reviewed by Finance Dept. N/A Reviewed by () N/A 0) MAINTENANCE, MATERIALS, AND WORKMANSHIP ESCROW AGREEMENT This Agreement is entered into this 1 St day of October, 2013 by Standard Pacific of Florida GP Inc., 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 Arden Park South (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 "Improvements ") under the provisions, conditions, and requirements of the City's Subdivision Regulations and the subdivision approval granted the 6th day of November, 2007, 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 workmanship 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 workmanship by placing a cash escrow with the City; and WHEREAS, Developer wishes to establish an escrow fund in order to guaranty the maintenance, materials, and workmanship 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 fund with the City in the amount of Two Hundred Eighty -Eight Thousand Three Hundred Thirty -One Dollars and Fifty -Eight Cents ($288,331.58) to guaranty the maintenance, materials, workmanship, and structural integrity of the Improvements. This escrow fund shall be placed by the City in an account at a local financial institution and shall be disbursed only in 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 from 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, workmanship, 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 REGULATIONS. This Agreement shall not be construed to relieve or release Developer from 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 Name Print Name ATTEST: In 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. DEVELOPER: 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. By: City Attorney Florida EXHIBIT "A" ARDEN PARK SOUTH PROPERTY A PORTION OF LAND LYING IN SECTION 4, TOWNSHIP 22 SOUTH, RANGE 28 EAST, ORANGE COUNTY, FLORIDA, INCLUDING PART OF LOTS 1, 2 AND 3, EMMA A. STIEFF SUBDIVISION, ACCORDING TO THE PLAT THEREOF AS RECORDED IN PLAT BOOK G, PAGE 106 OF THE PUBLIC RECORDS OF ORANGE COUNTY, FLORIDA BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 4; THENCE RUN SOUTH 01 0 2707" WEST ALONG THE EAST LINE OF THE NORTHWEST 1/4 OF SAID SECTION 4 FOR A DISTANCE OF 847.14 FEET TO THE POINT OF BEGINNING; THENCE CONTINUING ALONG SAID EAST LINE RUN SOUTH 01 WEST FOR A DISTANCE OF 1839.23 FEET TO THE CENTER OF SAID SECTION 4, ALSO BEING A POINT ON THE SOUTH LINE OF THE NORTHWEST 1/4 OF SAID SECTION 4; THENCE DEPARTING SAID EAST LINE RUN SOUTH 89 0 20'41 " WEST ALONG SAID SOUTH LINE, FOR A DISTANCE OF 2651.43 FEET TO A POINT ON THE EASTERLY RIGHT -OF- WAY LINE OF CLARCONA -OCOEE ROAD; THENCE DEPARTING SAID SOUTH LINE RUN NORTH 02 °44'31" EAST ALONG SAID EASTERLY RIGHT -OF -WAY LINE FOR A DISTANCE OF 1367.98 FEET TO A POINT OF CURVATURE OF A CURVE CONCAVE SOUTHEASTERLY AND HAVING A RADIUS OF 150.46; THENCE DEPARTING SAID EASTERLY RIGHT -OF -WAY LINE RUN NORTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 70 0 46'57" FOR AN ARC DISTANCE OF 185.88 FEET TO A POINT OF TANGENCY ALSO BEING A POINT ON THE SOUTHERLY RIGHT -OF- WAY LINE OF WEST ORANGE TRAIL / CLARCONA-OCOEE ROAD; THENCE CONTINUING ALONG SAID SOUTHERLY RIGHT -OF -WAY LINE RUN NORTH 73 °31'28" EAST FOR A DISTANCE OF 210.06 FEET TO A POINT OF CURVATURE OF A CURVE CONCAVE SOUTHERLY AND HAVING A RADIUS OF 1824.86 FEET; THENCE RUN EASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 16 0 21'16" FOR AN ARC DISTANCE OF 520.89 FEET TO A POINT OF TANGENCY; THENCE RUN NORTH 89 0 52'44" EAST FOR A DISTANCE OF 885.73 FEET TO A POINT OF CURVATURE OF A CURVE CONCAVE NORTHERLY AND HAVING A RADIUS OF 1994.82 FEET; THENCE RUN EASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 27 FOR AN ARC DISTANCE OF 946.05 FEET TO A POINT OF COMPOUND CURVATURE OF A CURVE CONCAVE NORTHERLY AND HAVING A RADIUS OF 1722.16 FEET; THENCE RUN EASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 00 0 30'15" FOR AN ARC DISTANCE OF 15.15 FEET TO AFORESAID POINT OF BEGINNING. Containing 98.52 acres, more or less.