Agenda 03/25/2014 Item #16A 4 3/25/2014 16.A.4.
EXECUTIVE SUMMARY
Recommendation to authorize the Clerk of Courts to release Performance Bond No. 6177469
amount of $500,000 which was posted as a development guaranty for work associated with
Veronawalk,Excavation Permit No. 59.834,Application Request No.AR-2963 .
OBJECTIVE: To release a Performance Bond which had been posted as a development
guaranty in the amount of$500,000.00.
CONSIDERATIONS: Engineering Services routinely accepts securities administratively as
guaranties for developer commitments. The work associated with this security has been
inspected and the developer has fulfilled his commitments with respect to this security. The
subject security was provided for work associated with a planned residential project. The
Performance Bond was posted as security for work associated with the project Excavation
Permit. We have received the As-Built Lake cross sections and inspected the lakes for
compliance with the requirements of the Collier County Excavation Regulations (Article IV of
the Codes of Laws of Collier County).
FISCAL IMPACT: There is no fiscal impact associated with this Executive Summary.
LEGAL CONSIDERATIONS: This item has been approved as to form and legality, and
requires a majority vote for Board approval. - SAS
GROWTH MANAGEMENT IMPACT: There is no growth management impact associated
with this Executive Summary.
RECOMMENDATION: Recommendation that the Board of County Commissioners
authorize the Clerk of Courts to release Performance Bond No. 6177469 in the amount of
$500,000.00 which had been posted for work associated with Excavation Permit 59.834,
Application Request No. AR-2963. Engineering Services will issue a Memorandum to the
Clerk of Courts upon approval of this item by the Board of County Commissioners, advising
the Clerk of this action.
Prepared by: 1) Copy of Performance Bond
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3/25/2014 16.A.4.
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.16.A.16.A.4.
Item Summary: Recommendation to authorize the Clerk of Courts to release Performance
Bond No. 6177469 amount of$500,000 which was posted as a development guaranty for work
associated with Veronawalk, Excavation Permit No. 59.834,Application Request No. AR-2963 .
Meeting Date: 3/25/2014
Prepared By
Name: HouldsworthJohn
Title: Site Plans Reviewer, Senior, Engineering&Environmental Services
2/20/2014 9:02:17 AM
Approved By
Name: PuigJudy
Title: Operations Analyst,Community Development&Environmental Services
Date: 2/20/2014 9:44:39 AM
Name: McKennaJack
Title: Manager-Engineering Review Services, Engineering&Environmental Services
Date: 3/5/2014 10:54:38 AM
Name: StoneScott
Title: Assistant County Attorney, CAO Land Use/Transportation
Date: 3/6/2014 8:08:32 AM
Name: MarcellaJeanne
Title: Executive Secretary,Transportation Planning
Date: 3/11/2014 12:56:09 PM
Name: IsacksonMark
Title:Director-Corp Financial and Mngmt Svs, Office of Management&Budget
Date: 3/13/2014 11:02:52 AM
Name: KlatzkowJeff
Title: County Attorney,
Date: 3/13/2014 3:57:16 PM
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3/25/2014 16.A.4.
Name: OchsLeo
Title: County Manager, County Managers Office
Date: 3/14/2014 3:12:53 PM
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3/25/2014 16.A.4.
COLLIER COUNTY LAND DEVELOPMENT CODE
PERFORMANCE BOND BOND NO 6177469
KNOW ALL PERSONS BY THESE PRESENTS: that DiVosta and Company,Inc.,4500 PGA
Boulevard, Suite 400,Palm Beach Gardens,FL 33418(hereinafter referred to as"Owner")and Safeco
Insurance Company of America(hereinafter referred to as"Surety")are firmly bound unto Collier
County,Florida Board of County Commissioners,2800 North Horseshoe Drive,Naples,Florida 33942
(hereinafter referred to as"County")in the total aggregate sum of five hundred thousand and 00/100
($500,000.00)lawful money of the United States,for the payment of which sum well and truly to be
made,we bind ourselves,our heirs,executors,administrators,successors and assigns,jointly and
severally,firmly by these presents. Owner and Surety are used for singular or plural,as the context
requires.
THE CONDITION OF THIS OBLIGATION is such that whereas,the Owner will complete the
requirements of excavation permit no 59. for the project Verona Walk
pursuant to Collier County Ordinance No. 91-102 as amended(hereinafter referred to as"Land
Development Regulations"). This obligation of Surety shall commence on August 1,2002 and shall
continue until released in writing by the Development Services Director pursuant to the Land
Development Regulation("The Guaranty Period").
NOW,THEREFORE, if the Owner shall well,truly and faithfully perform its obligations and duties in
accordance with the Land Development Regulations during the guaranty period established by the
County,and the Owner shall satisfy all claims and demands incurred and shall fully indemnify and save
harmless the County from and against all costs and damages which it may suffer by reason of Owner's
failure to do so,and shall reimburse and repay the County all outlay and expense which the county may
incur in making good any default,then this obligation shall be void,otherwise to remain in full force and
effect.
PROVIDED,FURTHER,that the said Surety,for value received hereby, stipulates and agrees that no
change,extension of time,alteration,addition or deletion to the proposed specific improvements shall in
any way affect its obligation on this Bond and it does hereby waive notice of any such change,extension
of time,alteration,addition or deletion to the proposed specific improvements.
PROVIDED FURTHER, that it is expressly agreed that the Bond shall be deemed amended
automatically and immediately,without formal and separate amendments hereto, so as to bind the Owner
and the Surety to the full and faithful performance in accordance with the Land Development
Regulations. The term"Amendment"whenever used in this Bond and whether referring to this Bond or
other documents, shall include any alteration,addition, or modification of any character whatsoever.
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1. 3/25/2014 16.A.4.
IN WITNESS WHEREOF,the parties hereto have caused this PERFORMANCE BOND to be executed
this 1'day of August,2002.
SAFECO INSURANCE COMPANY DNOSTA AND COMPANY,INC.
OF AMERICA
By: 7-2/Jr-e_ -221. ---, By `,
Jane K. Botting, Attorney-in-Fact Robert Porter, Sr. Treasury Analayst
.7 /" 1 •
Witness: ' cep l Witness: 1 ,_ .d. . a
Witness: , , Z /
IV
Countersigned by: ( cK 7• c` -
George L4rey
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07/31/200,2 17:30 FAX 5617759121 DIVOSTA & COMPANY � nn�
3/25/2014 16.A.4.
APPLICATION FOR LETTER OF CREDIT
or
PERFORMANCE BOND
(Circle One) PFCI Bank Bond Issuer(Surety).
Division: DiVosta&Company
Beneficiary: Name: Collier County,SIM&Board of County Commissioners
2800 North Horseshoe Dr
Naples,Fl 33942
Attention:
Phone:
Amount: $500,000.00
Expiration: upon release
Approved Feasibility Name:
Current Subdivision or Project Verona Walk
Available by drafts at sight when accompanied by:
Contract date where applicable:
Purpose/Risk bond for excavation permit for excavation of lakes and on-site fill
Explain if not denoted in original Feasibility Contract Summary:
Format: (Circle One) Use Bank Format
Format Attached Bond Format(must be attached)4
Date Needed By August!,2002
•
Distribution: (Circle One) !Send LOC(Bond)to Division [Overnight Mall!
Send LOC(Bond)to Beneficiary Regular Mail
Requested by:
O ,q) Date: July 30,2002
Chris Schmitz
Assistant Vice President
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07/,31/2002 17:30 FAX 5617759121 DIVOSTA & COMPANY C nn3
3/25/2014 16.A.4.
VERONAWALK
EXCAVATION PERMIT FEE CALCULATION AND BOND,
Total quantity to be excavated = 3,493,000 CY,
Review Fee
1. Commercial Excavation Permit Fee $ 850.00
2. 1 s` 2,000 CY of Excavated Material $ 64.00
3. Remaining 3,493,000 CY @ $3.00 per 1,000 CY $ 10,479
Fee Total $ 11,393.00
Bond
Required Bond = 3,493,000 CY @ $0.25/CY (Max. of $500,000.00, Min. of
$25,000.00)
= 873,250.00 ($500,000.00 bond required)
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