Agenda 05/08/2018 Item #16A 905/08/2018
EXECUTIVE SUMMARY
Recommendation to grant final acceptance of the private roadway and drainage improvements for
the final plat of Lakoya - Phase II, Application Number PL20130001254 with the roadway and
drainage improvements being privately maintained, acceptance of the plat dedications, and
authorizing the release of the maintenance security.
OBJECTIVE: To have the Board of County Commissioners (Board) accept final approval of the
infrastructure improvements associated with the subdivision, accept the plat dedications, and release the
maintenance security.
CONSIDERATIONS:
1) On January 29, 2014, the Growth Management Department granted preliminary acceptance of the
roadway and drainage improvements in Lakoya - Phase II.
2) The roadway and drainage improvements will be maintained by the project’s neighborhood
association.
3) The required improvements have been constructed in accordance with the Land Development
Code. The Growth Management Department has inspected the improvements and is
recommending final acceptance of the improvements.
4) A resolution for final acceptance has been prepared and approved by the County Attorney's
Office. The resolution is a requirement of Section 10.02.05 C.3 of the Land Development Code.
A copy of the document is attached.
5) This project is within Lely, a Resort Community, PUD, Ord. 92-15, as amended which has been
found to be in substantial compliance.
FISCAL IMPACT: The roadway and drainage improvements will be maintained by the project's
neighborhood association. The existing security in the amount of $423,673.69 will be released upon
Board approval. The original security in the amount of $635,271.36 has been reduced based on the
previous work performed and completed and pursuant to the terms of the Construction and Maintenance
Agreement dated October 31, 2013.
GROWTH MANAGEMENT IMPACT: There is no growth management impact associated with this
action.
LEGAL CONSIDERATIONS: This item has been approved as to form and legality, and requires a
majority vote for Board approval. - SAS
RECOMMENDATION: To grant final acceptance of the roadway and drainage improvements in
Lakoya - Phase II, Application Number PL20130001254, and authorize:
1. The Chairman to execute the attached resolution authorizing final acceptance of the
improvements and acceptance of the plat dedications.
2. The Clerk of Courts to release of the maintenance security.
Prepared By: John Houldsworth, Senior Site Plans Reviewer, Development Review Division
16.A.9
Packet Pg. 582
05/08/2018
ATTACHMENT(S)
1. Location Map (PDF)
2. Resolution (PDF)
3. Bond Basis (PDF)
16.A.9
Packet Pg. 583
05/08/2018
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.A.9
Doc ID: 5208
Item Summary: Recommendation to grant final acceptance of the private roadway and drainage
improvements for the final plat of Lakoya – Phase II, Application Number PL20130001254 with the
roadway and drainage improvements being privately maintained, acceptance of the plat dedications, and
authorizing the release of the maintenance security.
Meeting Date: 05/08/2018
Prepared by:
Title: Technician – Growth Management Development Review
Name: Lucia Martin
03/22/2018 2:21 PM
Submitted by:
Title: Project Manager, Principal – Growth Management Department
Name: Matthew McLean
03/22/2018 2:21 PM
Approved By:
Review:
Growth Management Department Judy Puig Level 1 Reviewer Completed 03/22/2018 3:20 PM
Growth Management Operations & Regulatory Management Stephanie Amann Additional Reviewer Completed 03/26/2018 4:14 PM
Engineering & Natural Resources Jack McKenna Additional Reviewer Completed 03/27/2018 9:31 AM
Growth Management Development Review Brett Rosenblum Additional Reviewer Completed 03/29/2018 4:39 PM
Growth Management Development Review Chris Scott Additional Reviewer Completed 04/10/2018 8:30 AM
Growth Management Department Matthew McLean Additional Reviewer Completed 04/10/2018 3:51 PM
County Attorney's Office Scott Stone Level 2 Attorney Review Completed 04/12/2018 10:51 AM
Growth Management Department Thaddeus Cohen Department Head Review Completed 04/12/2018 1:35 PM
Growth Management Department James French Deputy Department Head Review Completed 04/13/2018 2:02 PM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 04/16/2018 7:49 AM
Office of Management and Budget Valerie Fleming Level 3 OMB Gatekeeper Review Completed 04/19/2018 3:05 PM
Budget and Management Office Mark Isackson Additional Reviewer Completed 04/20/2018 10:10 AM
County Manager's Office Nick Casalanguida Level 4 County Manager Review Completed 04/30/2018 7:48 AM
Board of County Commissioners MaryJo Brock Meeting Pending 05/08/2018 9:00 AM
16.A.9
Packet Pg. 584
LAKOYA – PHASE II
16.A.9.a
Packet Pg. 585 Attachment: Location Map (5208 : Final Acceptance - Lakoya, Phase II)
16.A.9.b
Packet Pg. 586 Attachment: Resolution (5208 : Final Acceptance - Lakoya, Phase II)
16.A.9.b
Packet Pg. 587 Attachment: Resolution (5208 : Final Acceptance - Lakoya, Phase II)
CONSTRUCTION AND MAINTENANCE AGREEMENT FOR SUBDIVISION IMPROVEMENTS
IHIS CONSTRUCTION AND MAINTENANCE AGREEMENT FOR SUBDIVISION IMPROVEMENTS entered into this
31sl day of October between Slo€k Developmenl, LLC
hereinafter referred to as "Developer", and the Board of county commissioners of collier County, Florida,
hereinafter referred to as the "Board".
RECITALS:
A. Developer has, simultaneously with the delivery of this Agreement, applied for the approval by the Board
of certain plat of a subdivision to be known as. Lakoya @ Lely Resorl - Phas6ll
B Chapters 4 and 10 of the Collier County land Development Code requires the Developer to post
appropriate guarantees for the construction of the improvements required by said subdivision
regulations, said guarantees to be incorporated in a bonded agreement for the construction of the
required improvements.
NoW, THEREFORE, in consideration of the foregoing premises and mutual covenants hereinafter set forth,
Developer and the Board do hereby covenant and agree as follows:
20f1_
7
2
Developer will cause to be constructeo: doASu;Nyr av..11rnl&17 A*1g',2-'t aUg e-
within 2a months from the date of ;pproval of said subdivision plat, said improvements
hereinafter referred to as the required improvements.
Developer herewith tenders its subdivision performance security (attached hereto as Exhibit ,.A,, and by
reference made a part hereof) in the amount of S 63s.271.36 - which amount represents 10% of the
total contract cost to complete the construction plus 1OO% of the estimated cost to complete the required
improvements at the date of this Agreement.
ln the event of default by the Developer or failure of the Developer to complete such improvementswithin the time required by the Land Development code, Collier may call upon the subdivision
performance security to insure satisfactory completion of the required improvements.
The required improvements shall not be considered complete until such a statement of substantial
completion by Developer's engineer along with the final project records have been furnished to be
reviewed and approved by the County Manager or his designee for compliance with the collier County
Land Development Code.
3
4
5
6
The county Manager or his designee shall, within sirty (60) days of receipt of the statement of substantial
completion, either: a) notify the Developer in writing of his preliminary approval of the improvements,
therewith specifying those conditions which the Developer must fulfill in order to obtain the county
Manager's approval of the improvements. However, in no event shaI the county Manager or his
designee refuse preliminary approval of the improvements if they are in fact constructed and ;ubmitted
for approval in accordance with the requirements of this Agreement.
The Developer shall maintain all required lmprovements for a minimum period of one year after
preliminary approval by the county Manager or his designee. After the one year maintenance period by
the Developer has terminated, the developer shall petition the County Manager or his designee to inspect
the required improvements. The county Manager or his designee shall inspect the improvements and, iffound to be still in compliance with the Land Development code as reftected by final approval by the
Board, the Board shall release the remaining 10% of the subdivision performance security. The
Developer's responsibility for maintenance of the required lmprovements shall continue unless or until
the Board accepts maintenance responsibility for and by the County.
16.A.9.c
Packet Pg. 588 Attachment: Bond Basis (5208 : Final Acceptance - Lakoya, Phase II)
7. Six (6) months after the execution of this Agreement and once within every six (6) months thereafter the
Developer may request the County Manager or his designee to reduce the dollar amount of the
subdivision performance security on the basis of work complete. Each request for a reduction in the
dollar amount of the subdiv,sion performance security shall be accompanied by a statement of substantia I
completion by the Developer's engineer together with the project records necessary for review by the
county Manager or his designee. The county Manager or his designee may grant the request for a
reduction in the amount of the subdivision performance security for the improvements completed as of
the date of the request.
8. ln the event the Developer shall fail or neglect to fulfill its obligations under this A8reement, upon
certification of such failure, the County Manager or his designee may call upon the subdivision
performance security to secure satisfactory completion, repair and maintenance of the required
improvements. The Board shall have the right to construct and maintain, or cause to be constructed or
maintained, pursuant to public advertisement and receipt of acceptance of bids, the improvements
required herein. The Developer, as principalunder the subdivision performance security, shall be liable to
pay and to indemnify the Board, upon completion of such construction, the final total cost to the Board
thereof, including, but not limited to, engineering, legal and contingent costs, together with any damages,
either direct or consequential, which the Board may sustain on account of the failure of the Developer to
fulfill all of the provisions of this Agreement.
9. All of the terms, covenants and conditions herein contained are and shall be binding upon the Developer
and the respective successors and assigns of the Developer.
IN WITNESS WHEREOF, the BO
authorized representatives this
ard and the Develo pe r have caused this Agreement to be execute
K 20\I day of tjv
their oulv
STGNED/)E PREs?cE oF
By
6; b{\aw/rrrn
"o Brior.. S{"cL,[onr.(e r'
uj,..fj, hJtr,{
Printed Name/fitle
2(President, VP, or CEO)
Crur,t), h sear,' (Provide Proper Evidence of Authority)
Printed Name
ATTEST:
BoARDT( codNrY
cour[, rLonfba r
oMMT$S|ONERS OF COLLTER
,g
phd legal sufficiency:
:,.
G EHT B R Lc E R KocK,
BY:
Deputy Clerk i)
as toApp
DWr
By:
GIGE A, HILLER. ESQ
CHAIRWOMAN
Emily R eprn
Assistant County Attorney
(Name of entitv), S{*EDev"lo1'*^t I t c
16.A.9.c
Packet Pg. 589 Attachment: Bond Basis (5208 : Final Acceptance - Lakoya, Phase II)
2013 FLORIDA LTMITED LIABILITY COMPANYANNUAL REPORT
DOCUMENT# 101 00001 1 007
Entity Name: STOCK DEVELOPMENT, LLC I
Current Principal Ptace of Business:
2647 PROFESSIONAT CIRCLE
surTE 1201
NAPLES, FL 34119
FILED
Apr 25,2013
Secretary of State
Current Mailing Address:
2647 PROFESSIONAL CIRCLE
SUITE 1201
NAPLES, FL 341,I9
FElNumber: 59-3740488
Name and Address of Current Registered Agent:
GOODLETTE COLEMAN JOHNSON YOVANOVICH ET AL
4OO1 TAMIAMI TRAIL NORTH
SUITE 3OO
NAPLES, FL 34.103 US
The above named entity submits tl,ls stateme nt for the purpose of changing its regislered office ot registered agant, or both, in the state of Florida.
SIGNATURE:
Electronic Signature of Registered Agent
Manager/Member Detai! Detail :
Title MGR
Name STOCK, BRIAN K
Address 2647 PROFESSTONAL C|RCLE, SUTTE
1201
City-State-Zp: NAPTES FL 34i19 City-State-Zip:
Title CFO
Name KOCSES, CHAD
Address 2647 PROFESSTONAL CIRCLE, SUITE
1201
City-State-Zip: NAPLES FL 34119
Certificate of Status Desired: No
Date
Title
Name
Address
VP
IMIG, BOB
2647 PROFESSIONAL CIRCLE, SUITE
1201
NAPLES FL 34119
I heQby cediy lhet lho inlom€tan indi@led on lhis Bpotl ot supplement€l repod is true and a@uato and thal my ateclrnic s,gnature shall hava the same tegal etec1 as if made undef
that my name appea5 atnve, or on an ailachreot vth all olhet like ampowegd.
SIGNATURE:BRIAN K STOCK MGR o4t}st2}13
Electronic Signature of Signing Manager/Member Detail Date
16.A.9.c
Packet Pg. 590 Attachment: Bond Basis (5208 : Final Acceptance - Lakoya, Phase II)
FIFTH TI{IRD BANK
LETTER OF CREDIT NO. S5O37O2 PAGE 1
ISSUING BANK :
FIFTH THIRD BANK
BENEFICIARY:
THE BOARD OF COT]NTY COMMISSIONERS,
COLLIER COLINTY, FLORIDA, C/O
ENGINEERING REVIEW SECTION, 28OON. HORSESHOE DRIVE
NAPLES, FL 3 4104
APPLICANT:
STOCK DEVELOPMENT LLC
2647 PROFESSIONAI CIRCLE
SUITE 12O1
NAPLES, F'L 34119
LETTER OF CREDIT NO: S503702
ISSUE DATE: OCTOBER 04, 20L3
EXPIRATION DATE: OCTOBER 04, 201-4
EXPIRATION PLACE: AT OUR COUIflIERS
AIvIOUNT: 535,102.25 USD FIVE HUNDRED THIRTY FIVE THOUSAND ONE
HTTNDRED TWO 25 / :-O0
WE HEREBY ISSUE IN YOUR FAVOR THIS IRREVOCABLE STANDBY LETTER OF
CREDIT WHICH 15 AVAILABLE BY PRESENTATION OF' THIS ORIGINAL LETTER
OF CREDIT AND THE FOLLOWING DOCUVIENT(S):
BENEFICIARY'S S]GNED STATEMENT BY THE COUNTY MANAGER OR HIS
DESIGNEE CERTIFYTNG THAT: IISTOCK DEVELOPMENT LLC HAS FAILED TO
CONSTRUCT AND/OR MATNTAIN THE IMPROVEMENTS ASSOCIATED WITH THAT
CERTAIN PLAT OF A SUBDIVISION KNOWN AS I,AKOYA PI{ASE I] OR FINAL
INSPECTION SATISFACTORY TO COLLIER COI'NTY HAS NOT BEEN PERFORMED
PRIOR TO THE DATE OF' EXPIRY, AND SATISF'ACTORY ALTERNATE
PERFORMANCE SECURITY HAS NOT BEEN PROVIDED TO AND FORMALLY
ACCEPTED BY THE BENEFICIARY. ''
PARTIAL DRAWINGS ARE A.LLOI,iED. MULTIPLE DRAWINGS ARE ALLOWED.
IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHAIL BE
AUTOMATICALLY EXTENDED, WITHOUT AIVIENDMENT, FOR ADDITIONAL PERIODS
)
)
16.A.9.c
Packet Pg. 591 Attachment: Bond Basis (5208 : Final Acceptance - Lakoya, Phase II)
FIFTH THIRD BANK
LETTER OF CREDIT NO. 5503702 PAGE 2
OF 1 YEAR(S) UNLESS WE SEND NOTICE TO YOU BY CERTIFIED MAIL OR
COURIER AT LEAST 50 DAYS PRIOR TO THE EXPIRATION DATE THAT WE
INTEND NOT TO EXTEND THIS LETTER OF CREDIT.
THE BANK SHALL NOT BE CA.LLED UPON TO DETERMINE QUESTIONS OF FACTOR I,AW AT ISSUE BETWEEN THE APPLICANT AND THE BENEFICIARY OF' THIS
LETTER OF CREDIT.
AIL BANKING C}{ARGES OUTSIDE OF THE ISSUING BANK ARE FOR THE
ACCOUNT OF THE BENEFICIARY.
YOUR DEMAND FOR PAYMENT MUST REFERENCE THE AIV1OUNT BEING DRAWN AND
MUST BEAR THE CI,AUSE: '' DRAWN UNDER LETTER OF CREDIT NUMBER
S5O37O2 OF FIFTH THIRD BANK, DATED OCTOBER 04, 2013.'
THIS LETTER OF CREDIT SETS FORTH ]N FULL THE TERMS OF OUR
UNDERTAKING AND SUCH UNDERTAKING SHATL IN NO WAY BE MODIFIED,
AI!4ENDED, OR AIVIPLIFIED BY REFERENCE TO ANY DOCUMENT, INSTRUMENT,
OR AGREEMENT REFERENCED TO HEREIN OR IN WHICH THIS LETTER OFCREDIT REI,ATES, AND ANY SUCH REFERENCE SHALL NOT BE DEEMED TO
INCORPORATE HEREIN BY REFERENCE ANY DOCUMENT, INSTRUMENT OR
AGREEMETTT .
THIS ORIG]NAL LETTER OF CREDIT, AIONG WITH ANY SUBSEQUENT
AIVIENDMENTS, MUST BE SUBMITTED TO THE BANK FOR OUR ENDORSEMENT OFANY PAYMENTS EFFECTED BY US AND/OR FOR CANCELLATION.
THIS LETTER OF CREDIT IS ISSUED, PRESENTABLE AND PAYABLB AT OUROFFICE AT FIFTH THIRD BANK, TRADE SERVICES, 505O KINGSLEY DRIVE,
MD IMOCBR, CINCINNATI , OH 45263.
PRESENTATION OF A DEMAND TINDER THIS LETTER OF' CREDIT MAY BE MADE
ON OR PRIOR TO THE THEN CURRENT EXPIRATION DATE HEREOF BY HAND
DELIVERY, COURIER SERVICE, REGISTERED OR CERTIFIED MAIL,
OVERNIGHT MAIL, OR FACSIMILE. PRESENTATION OF A DEMAND L'NDER THISLETTER OF CREDIT BY FACSIMILE TRANSMISSION SHALL BE BY
TRANSMISSION OF THE ABOVE REQUIRED DEMAND ON US TO OUR FACSIMILE
NUII4BER 513-358-5950 ATTENTION: TRADE SERVICES WITH TELEPHoNTC
CONFIRMATION OF OUR RECEIPT OF SUCH FACSIMILE TRANSMISSION AT OUR
TELEPHONE NUMBER 5L3-358.5229 (OR AT SUCH OTHER FACSIMTLE AND /OR TELEPHONE NUMBERS AS WE MAY SEND NOTICE TO YOU IN WRTTING BYU.S. MA]L OR COURIER SERVICE, AS BEING THE APPLICABLE SUCH
NIIMBERS ) ON OR BEFORE THE THEN CURRENT EXPIRATION DATE. ANY SUCHFACSIMILE PRESEI{TATION SHAIL BE CONSIDERED AN ORIGINAL DOCT]IVIENT
AND ANY ORIGINAI DOCUMENTS DELIVERED TO THE BANK SHALL BE
RETURNED TO THE SENDER AND WILL NQT BE EXAIVIINED. FIFTH THIRD BANKSHAIL BE UNDER NO OBLIGATION TO ASCERTAIN THE IDENTITY OR
16.A.9.c
Packet Pg. 592 Attachment: Bond Basis (5208 : Final Acceptance - Lakoya, Phase II)
FIFTH THIRD BANK
LETTER OF CREDIT NO. S5O3702 PAGE 3
AUTHORITY OF ANY PERSON MAKTNG SUCH FACSIMILE PRESENTATION.
THIS CREDIT IS SUB\'ECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR
DOCI'IVIENTARY CREDITS (2007 REVISION), I NTERNAT I ONAL CHAI!4BER OF
COMMERCE PUBLICATION NO. 5OO.
.Qilarr*" ,qlial/"\/\,
A ORI Z SI
)
I
AUTHORIZED SIGNATURE
16.A.9.c
Packet Pg. 593 Attachment: Bond Basis (5208 : Final Acceptance - Lakoya, Phase II)
-l.lI
FIPTTT THIRP BRNX
LETTER OF CREDIT NO. S5O3702 PAGE 1
AIvIENDMENT NUMBER: 001
DATE OF AIVIENDMENT: NOVEMBER 08, 2073
ISSUTNG BANK:
FIFTH THIRD BANK
APPLTCANT:
STOCK DEVELOPMENT LLC2647 PROFESSIONAL CIRCLE
SUITE 1,207
NAPLES, FL 34l.79
BENEFICIARY:
THE BOARD OF COI.INTY COMM]SSIONERS,
COLLTER COUNTY, FLORTDA, C/O
ENGINEERING REVTEW SECTION, 28OON. HORSESHOE DRIVE
NAPLES, FL 34]-04
RE: ouR TRREVOCABLE LETTER oF cREDrr No. s5o37o2 rssuED oN
OCTOBER 04, 2OL3 IN FAVOR OF THE BOARD OF COUNTY COMMTSSIONERS,
COLLIER COUNTY, FLORIDA, C/O ENGINEERING REVIEW SECTION FOR
THE ACCOUNT OF STOCK DEVELOPMENT LLC
PLtrASE AI\4END THE ABOVE AS FOLLOWS
TNCREASE THIS CREDIT BY 100,169.I1 U.S. DOLLARS. LETTER OF CREDIT
I\MOUNT AFTER AJV1ENDMENT IS NOW 635 , 271, .3 5 U . S . DOLLARS .
ALL OTHER TERMS AND CONDITIONS REMAIN LINCHANGED
REGARDS,
ORIZED R
(_
16.A.9.c
Packet Pg. 594 Attachment: Bond Basis (5208 : Final Acceptance - Lakoya, Phase II)
.*a
PODA
Wastewaler
Water
lrrigarion
Drainage
Paving
SuETotal
POD B
Wastewater
Water
Irrigation
Drainage
Paving
SuETotsl
POD G
Wastewater
Water
Irrigation
Drainage
Paving
Sub.Total
Original Contract
$23|.84r.r7
Original Conrtact
$86,090.74
Remaiaiag Vork
s0.00
s204.684.72
$88.629..16 s.11,712.66
I-AKOYA at LELY RESORT
PHASE II
PLATBOND CALCULATION
SL'\L\T.\RY
Remainiog Work
$0.00
POD I
Wastewater
Water
Irrigation
Drainage
Paving
Sub-Total
$0.00
$0.00
s0.00
$7t.214.79
$11211.79
$0.00
POD J
Wastewater
Water
Irigation
Drainage
Paving
Sub..Total
$0.00
s0.00
$0.00
$5S.599.89 $0.00
$ r03.6-33.78 $34 76.80
$58.627.s0
$0.00
$206.880.15 s0.00
$ 170..156.74 s6t.159.61 $32..102.6 t
s9r 7,{96.56 $300,0s4.54 $32,J02.61
$95,38.t.86 $63.370.89 $0.00
slt0_0.10.89 $75.228.90 s0.00
$41.742.18 $20.003.20 s0.00
$60.956.9r $26.839.69 $0.00
$50.528.76 $17.r28.41
$J98.75.1.50 ${J.712.66 $235.97r.{1 $17,12E.41
$91.e23..r5 $0.00
POD M
Wastewater
Water
lrrigation
Drainage
Paving
SuETotal
$24.1.887.02 $0.00
$86.64 r .80 $0.00 st02.7 69.24 s0.00
$16.694.33 $0.00 s87.930.68 $0.00
$ 126..106. r7 $0.00 s232,600.21 s0.00
$7r.897. ]l $3.1.233.18 $3.1,307.0E
$42J,s63.08 $3{233.rE $3,rJ07.08
TOTAL =$3,6E2,716.60 $266,999.70
s92.93 r.1r s0.00
s86.736.37 $0.00 100,'6 of ( )rigioal -\mount
100016 of Remaining Work
$
$17.6.16.36 s0.00
368,2 t'l.66
$266,999. t'O
$t5.1.853.97 s0.00 Required Bond Amount $ $s,nl.x
$74.123.97 $34.000.97
s{{5,29t.9E s34.000.97
( hri R.V
Lictns€ f 567J0
Certiflcate of /\uthoriralion #29i5E
tr/4,s
.\;;
::'.,:;;:.?"
':.";,
I
ng.i?
POD H
Wastewater
Water
Irrigation
Drainage
Paving
Sul>Toaal
s293.397 .32
$961,-584.50
16.A.9.c
Packet Pg. 595 Attachment: Bond Basis (5208 : Final Acceptance - Lakoya, Phase II)
COLLIER COUNTY LAND DEVELOPMENT CODE
PERFORMANCE BOND NO. SUR6OOOO655
KNOW ALL PERSONS BY THESE PRESENTS: thAt
STOCK DEVELOPMENT, LLC
2639 PROFESSIONAL CIRCLE, SUITE IOI
NAPLES, FL 341 19
(hereinafter referred to as "Owner") and
IRONSHORE INDEMNITY INC.
ONE STATE STREET
NEW YORK, NY 1OOO4
(hereinafter referred to as "Surety") are held and firmly bound unto Collier County, Florida, (hereinafter referred to as
;County") in the total aggregate sum of Four Hundred Twenty-Three Thousand Six Hundred Seventy-Three and
69/100 Dollars ($423,673.0S) in lawful money of the United States, for the payment of which sum well and huly 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 has submitted for approval by the Board a
certain subdivision plat named Lakoya Phase Two and that certain subdivision shall include specific improvements
which are required by Collier County Ordinances and Resolutions (hereinafter "Land Development Regulations"). This
obligation of the Suiety shall commence on the date this Bond is executed and shall continue until the date of final
u"..ptur.. by the Board of County Commissioners of the specific improvements described in the Land Development
Regulations (hereinafter 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 satisfr all
claims and deminds incuied and shall iully 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 eipense 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 p.rfor.-"" in accordance with the Land Development Regulations. The term "Amendment," wherever used in
this Bond, and whether referring to this Bond, or other documents shall include any alteration, addition or modification
of any character whatsoever.
16.A.9.c
Packet Pg. 596 Attachment: Bond Basis (5208 : Final Acceptance - Lakoya, Phase II)
IN WITNESS WHEREOF, the parties hereto have caused this PERFORMANCE BOND to be executed this 28th day of
March, 2016.
Attest:
Owner
Stock Development,
By:
State of Florida
County of
I HEREBY CERTIFY than on this day, before me, an officer duly authorized to take acknowledgements,
personally appeared Brian Stock, CEO of Stock Development. LLC, to me known to be described in and who executed
the forgoing instrument and acknowledged to and before me that they executed the same.
Witness my hand and official seal in the county and state last aforesaid 11',;, 'EQ day of {\a-c-[ ,2016'
Notary of
My Commission expires
Surety
Attest:Ironshore Indemnity Inc.
By:T
Dawson West, Bond Sandra L. Fusinetti, Attorney-in-Fact
State of Kentucky
County ofJefferson
Before me this day personally appeared Sandra L. Fusinetti, Attorney-in-Fact for lronshore Indemnity Inc.
who, being duly sworn, exetuted the foregoing instrument and acknowledged to and before me, the truthfulness and
accuracy of the statements in the foregoing instrument.
Witness my hand and official seal in the county and state last aforesaid this 28th day of March,2016.
Notary
t{otary Pulth . Etil. ol tlorld.
SIACEY LYNiI AilOTBSOfl
Commi33lon , St olllln
EoOd
My Commission expires October 26. 20 l9
7,/
16.A.9.c
Packet Pg. 597 Attachment: Bond Basis (5208 : Final Acceptance - Lakoya, Phase II)
il!- 60000655
!ronshore !ndemnity lnc
KNOW ALL MEN BY THESE PRESENTS, that IRONSHORE INDEMNITY lNC., a Minnesota Corporation, with its principal office in New York, NY does
hereby constitute and appoint: Brook T. Smith, Raymond M. Hundley, Jason D. Cromwell, James H. Martin, Sandra L. Fusinetti, Deborah Neichter, Jill
Kemp, Theresa Pickerrell, Sheryon Quinn, Bonnie J. Rowe, Amy Meredith, Lynnette Long, Barbara Duncan, Mark A. Guidry, Michele Lacrosse,
Jessica Nowlin and Summer A. Betting its true and lawful Attorney(s)-ln-Fact to make, execute, seal and deliver for, and on its behalf as surety, any
and all bonds, undertakings or other writings obligatory in nature of a bond.
This authority ls made under and by the authority of a resolution which was passed by the Board of Directors of IRONSHORE INDEMNITY lNC. on the
22nd day of April, 2013 as follows:
Resolved, that the Director of the Company is hereby authorized to appoint and empower any representative of the company or other person or
persons as Attorney-ln-Fact to execute on behalf of the Company any bonds, undertakings, policies, contracts of indemnity or other writings obligatory
in nature of a bond not to exceed 55,500,000 dollars, which the Company might execute through its duly elected officers, and affix the seal of the
Company thereto. Any said execution of such documents by an Attorney-ln-Fact shall be as binding upon the Company as if they had been duly
executed and acknowledged by the regularly elected officers of the Company. Any Attorney-ln-Fact, so appointed, may be removed for good cause and
the authority so granted may be revoked as specified in the Power of Attorney.
Resolved, that the signature of the Director and the seal of the Company may be affixed by facsimile on any power of attorney granted, and the
signature of the Secretary, and the seal of the Company may be affixed by facsimile to any certificate of any such power and any such power or
certificate bearing such facsimile signature and seal shall be valid and binding on the Company. Any such power so executed and sealed and certificate
so executed and sealed shall, with respect to any bond of undertaking to which it is attached, continue to be valid and binding on the Company.
lN WITNESS THEREOF, IRONSHORE INDEMNITY lNC. has caused this instrument to be signed by its Director, and its Corporate Seal to be affixed this
2nd day of July, 20L3.
IRONSHORE INDEMNITY INC.
^.1:a?ot;r-. AEAI. i9te
Oaniel L.
Director
ACKNOWLEDGEMENT
On this 2nd day of July, 20L3, before me, personally came Daniel L. Sussman to me known, who being duly sworn, did depose and say that he is the
Director of lronshore lndemnity lnc., the corporation described in and which executed the above instrumenu that he executed said instrument on
behalf of the corporation by authority of his office under the By-laws of said corporation.
A.IY TA\4-OR
Notary Public- StEte ofTenne3see
DEvidson County
Lly Commi3sion Expir8 07-0&19
Public
CERTIFICATE
l, the undersigned, secretary of IRoNSHoRE INDEMNITY lNC., a Minnesota company, DO HEREBY cERTlFy that the original power of Attorney ofwhich the foregoing is a true and correct copy, is in full force and effect and has not been revoked and the resolutions as set forth are now in force.
-$i-,.2; i'i#;:z'..*_.. s,,,?ie,
BY
signed and sealed at thil Day of zo )6.
r"tl1'?l',
- AEATlttl
PeulS Giordano
sacretary
'1'I/ARNING: Any person who knowingly and with intent to defraud any insurance company or other pe6on, files and application for insurance or statement of claimcontaining any mate'ially false information, or conceals for the purpose of misleading information concerning any fact material thereto, commits a fraudulentinsurance act, which is a crime and subjects such person to criminar and civir penarties,,,
16.A.9.c
Packet Pg. 598 Attachment: Bond Basis (5208 : Final Acceptance - Lakoya, Phase II)