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Item 10 Approval of a Two-Year Warranty Surety and Maintenance, Materials, and Workmanship Agreement with AWAD Phase 1 LLC for Arya Active Adult Luxury ApartmentsIm COVER Meeting Date: September 20, 2022 Item Reviewed By.Cm 3# Contact Name: Martrivus Keaton Department Director: Michaele Contact Number: 407-554-7109 City Manager: Robert Frank Subject: Approval of a Two -Year Warranty Surety and Maintenance, Materials, and Workmanship Agreement with AWAD Phase 1 LLC for Arya Active Adult Luxury Apartments Commission District 3 — Richard Firstner Background Summary: Arya Active Adult Luxury Apartments are located on the north side of Roberson Road, east of the northeast corner of Roberson Road and Windermere Road. The property consist of (1) 203,270 square foot four-story luxury apartment building. This Luxury Apartment building includes 242 beds. The infrastructure improvements include the potable water, sanitary sewer, other private utilities, stormwater collection system, perimeter wall/fencing, 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, AWAD Phase 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 $ 9,423.32. 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 AWAD Phase LLC, for the two-year warranty for Arya Active Adult Luxury Apartments 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 AWAD Phase 1 LLC for Arya Active Adult Luxury Apartments. Attachments: 1. Maintenance, Materials, and Workmanship Agreement with AWAD Phase LLC 2. Escrow (Check) in the amount of $ 9,423.32 Financial Impact: There are no financial impacts to the City in accepting this two-year warranty Surety. X (please mark with an 'k') 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 2 ESCROW AGREEMENT This Agreement is entered into this day of 20._ , by AWAD Phase I, 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 "Arya Active Adult Luxury Apartments" (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 7th day of August, 2018, 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 44, Subdivision Review Process, of the Land Development Code.. NOW THE the parties agree as follows: 1I TTIM&TAi' Developer does hereby establish an escrow fund with the City in the amount of $9,423.32 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. 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. 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. 1 ' 1 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 WREREOF, 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 ATTEST: 0 City Clerk (SEAL) For the use and reliance by the City of Ocoee only. Approved as to form and legality this — day of --7 20_. SHUFFIELD, LOWMAN & WILSON, P.A. By: City Attorney DEVELOPER: AWAD Phase 1, LLC., By: 10(/ 7�4 - Print Name: Michaederst Its: Manager CITY: CITY OF OCOEE, FLORIDA, a Florida municipal corporation M Mayor Approved by the Ocoee City Commission at a meeting held on 20_ under Agenda Item No. DESCRIPTION: A PORTION OF LAND DESCRIBED IN DOCUMENT NO. 20140009391 (OFFICIAL RECORDS BOOK 10686, PAGE 1919) OF THE, PUBLIC RECORDS OF ORANGE COUNTY, FLORIDA, LYING IN THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 0117 SECTION 31, TOWNSHIP 22 SOUTH, RANGE 28 EAST, ORANGE COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE SOUTHWEST CORNER OF SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SECTION 31, TOWNSHIP 22 SOUTH, RANGE 28 EAST, ORANGE COUNTY, FLORIDA; THENCE RUN N89'3556"E, ALONG THE SOUTH LINE OF' THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 3 1,. A DISTANCE OF 1321.84 FEET, TO THE SOUTHEAST CORNER OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 3 1; THENCE RUN N00009'18"W, ALONG THE EAST LINE OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 31, A DISTANCE OF 30.00 FEET TO A POINT ON THE NORTH RIGHT-OF-WAY LINE OF ROBERSON-ROAD, AND THE POINT OF BEGINNING; THENCE RUN S89'35'56"W, ALONG SAID NORTH RIGHT-OF-WAY LINE, A DISTANCE OF 640.00 FEET TO THE SOUTHEAST CORNER- OF LANDS DESCRIBED IN DOCUMENT #20160085380, RECORDED IN THE PUBLIC RECORDS OF ORANGE COUNTY, FLORIDA; THENCE. DEPARTING SAID NORTH RIGHT-OF-WAY LINE, RUN THE FOLLOWING FOUR (4)-COURSES AND - DISTANCES ALONG THE EASTERLY BOUNDARY OF SAID LANDS: 1) N00*09'28"W, A DISTANCE OF 400.11 FEET; 2) S89'59'38"E, ADISTANCE.OF.36832 FEET; 3) N08136100"E, A DISTANCE OF 15.36 FEET, -A) N00'26'56"E. A- DISTANCE OF 712.40 FEET TO THE NORTHEAST CORNER OF SAID LANDS DESCRIBED IN DOCUMENT #20160085380; THENCE, DEPARTING SAID EASTERLY BOUNDARY, RUN N89-35'56'T, A DISTANCE OF 261.85 FEET, TO A POINT ON THE AFORESAID EAST LINE OF THE SOUTHWEST 1/4 OF, TEE NORTHWEST-1/4 OF SAID SECTION 31; THENCE RUN 800'09'18"E, ALONG SAID EAST LINE, A DISTANCE OF 1125,00 FEET TO THE POINT OF BEGINNING.. CONTAINING 10.2888 ACRES MORE OR LESS. TOGETHER WITH CERTAIN NON-EXCLUSIVE, - PERPETUAL EASEMENTS APPURTENANT THERETO FOR PURPOSES OF ACCESS, UTILITIES AND DRAINAGE, CREATED PURSUANT TO THAT CERTAIN AMENDED AND RESTATED EASEMENT AGREEMENT AND RESTRICTIVE COVENANT RECORDED 1-0/21/2019 IN. DOCUMENT NO. 20190657248, IN THE PUBLIC -RECORDS OF ORANGE COUNTY, FLORIDA, RBK 3, LLC 412 41 ALTAMONTE SPRINGS, FL 32714 DATE INVOICE NO. DESCRIPTION INVOICE AMOUNT DEDUCTION BALANCE 09/01/22 09.0122 $9,423.32 $0.00 $9,423.32 CHECK 9/1/2022 CHECK 41241 TOTALS $9,423,32 $0.00 $9,423.32 DATE NUMBER PLEASE DETACH THIS PORTION AND RETAIN FOR YOUR RECORDS, 09/01/22 09.0122 $9,423.32 RBK 3, LLC dba Roger B. Kennedy Construction 9/1/2022 41241 City of Ocoee $9,423.32 $0.00 $9,423.32 $0.00 $9,423.32