Agenda 05/25/2021 Item #16A13 (Sierra Meadows Subdivision Completion Extension)05/25/2021
EXECUTIVE SUMMARY
Recommendation to approve an extension for completion of required subdivision improvements
associated with Sierra Meadows (AR-2340) subdivision pursuant to Section 10.02.05 C.2 of the
Collier County Land Development Code (LDC).
_____________________________________________________________________________________
OBJECTIVE: To approve an extension for the completion of subdivision improvements associated
with the Sierra Meadows subdivision.
CONSIDERATIONS: On June 25, 2002, the Board of County Commissioners (Board) approved the
final plat of Sierra Meadows for recording. The LDC requires that upon approval by the Board of County
Commissioners a plat must be recorded within 18 months and the associated subdivision improvements
must receive final acceptance within 36 months unless an extension is formally requested and granted by
the Growth Management Department. The plat has been recorded and there is a Construction,
Maintenance and Escrow Agreement in place as development guaranty. On October 18, 2007, the
Development Review Division granted preliminary acceptance of the subdivision improvements, and the
required improvements are substantially complete, with the exception of one commercial Lot, and the
developer anticipates completing the final paving upon completion of the final Site Development Plan.
The property owner has requested that the Board approve an extension of the plat improvements final
acceptance deadline from June 25, 2019 to June 5, 2023. Therefore, the improvements must receive final
acceptance prior to June 25, 2023 if the Board approves this extension. The LDC allows for two, 2-year
extensions after the original 36-month period. Additionally, the developer took advantage of various
Senate Bills and Executive Orders to gain additional extensions, as such, the required improvements final
acceptance deadline expired on June 25, 2019. Since this proposed extension is beyond what is allowed
by the LDC, approval by the Board is required.
The property owner has paid all of the past fees which would have been paid for normal extensions. All
fees associated with the original approval have been paid.
FISCAL IMPACT: The County will realize revenues as follows:
Fund: Growth Management Fund 131
Agency: County Manager
Cost Center: 138327 --Land Development Services
Revenue generated by this project: Total: $250.00 Extension Fee
GROWTH MANAGEMENT IMPACT: There is no growth management 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. - DDP
RECOMMENDATION: To approve an extension for completion of the required subdivision
improvements associated with the Sierra Meadows plat (AR-2340) until June 25, 2023, subject to the
recommendations of the June 25, 2002 approval.
Prepared by: Lucia S. Martin, Associate Project Manager, Development Review Division
ATTACHMENT(S)
1. Location Map (PDF)
2. Bond Basis (PDF)
16.A.13
Packet Pg. 763
05/25/2021
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.A.13
Doc ID: 15606
Item Summary: Recommendation to approve an extension for completion of required subdivision
improvements associated with Sierra Meadows (AR-2340) subdivision pursuant to Section 10.02.05 C.2
of the Collier County Land Development Code (LDC).
Meeting Date: 05/25/2021
Prepared by:
Title: Technician – Growth Management Development Review
Name: Lucia Martin
04/14/2021 10:13 AM
Submitted by:
Title: Director – Growth Management Department
Name: Matthew McLean
04/14/2021 10:13 AM
Approved By:
Review:
Growth Management Department Michael Cox Growth Management Department Skipped 05/09/2021 9:12 AM
Growth Management Department Michael Cox Transportation Skipped 05/09/2021 9:12 AM
Growth Management Department James C French Growth Management Completed 05/09/2021 6:44 PM
Growth Management Operations & Regulatory Management Kenneth Kovensky Additional Reviewer Completed 04/14/2021 12:27 PM
Growth Management Development Review Brett Rosenblum Additional Reviewer Completed 04/20/2021 5:14 PM
Engineering & Natural Resources Jack McKenna Additional Reviewer Completed 04/26/2021 10:44 AM
Growth Management Department Matthew McLean Additional Reviewer Completed 04/26/2021 11:59 AM
County Attorney's Office Derek D. Perry Level 2 Attorney Review Completed 04/28/2021 8:11 AM
Office of Management and Budget Debra Windsor Level 3 OMB Gatekeeper Review Completed 04/28/2021 8:15 AM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 04/29/2021 1:08 PM
Office of Management and Budget Laura Zautcke Additional Reviewer Completed 05/02/2021 11:56 AM
County Manager's Office Amy Patterson Level 4 County Manager Review Completed 05/17/2021 1:59 PM
Board of County Commissioners Geoffrey Willig Meeting Pending 05/25/2021 9:00 AM
16.A.13
Packet Pg. 764
SIERRA MEADOWS
LOCATION MAP
16.A.13.a
Packet Pg. 765 Attachment: Location Map (15606 : Subdivision Extension - Sierra Meadows)
----------
CONSTRUCTION, MAINTENANCE AND ESCROW AGREEMENT
FOR SUBDIVISION IMPROVEMENTS THIS AGREEMENT entered into this 1..� day of Juf\e.. , 2003 by HAMMOCK WOODS, LLC, a Florida limited liability company (hereinafter "Developer"), THE_ BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA,(hereinafter "The Board) and REPUBLIC BANK, a national bank (hereinafter "Lender"). RECITALS: A.Developer has, simultaneously with the delivery of this Agreement, applied for theapproval by the Board of a certain plat of a subdivision to be known as: SIERRA MEADOWS. B.The subdivision will include certain improvements which are required by CollierCounty ordinances, as set forth in a site construction cost estimate ("Estimate'') prepared by BANKS ENGINEERING, INC., a copy of which is attached hereto and incorporated herein as Exhibit 1. For purposes of this Agreement, the "Required Improvements" are limited to those described in the Estimate. C.Sections 3.2.6.5.6 and 3.2.9.1 of the Collier County Subdivision Code Division ofthe Unified Land Development Code requires the Developer to provide appropriate guarantees for the construction and maintenance of the Required Improvements. D.Lender has entered into a construction loan agreement with Developer dated June30, 2003 (the "Construction Loan") to fund the cost of the Required Improvements. E.Developer and the Board have acknowledged that the amount Developer isrequired to guarantee pursuant to this Agreexy.ent is $1,921,980.50, and this amount represents 110% of the Developer's engineer's estimate of the construction costs for the Required Improvements. NOW, THEREFORE, in consideration of the foregoing premises and mutual covenants hereinafter set forth, Developer, the Board and the Lender do hereby covenant and agree -as follows: 1.Developer will cause the water, sewer, roads, drainage and like facilities, theRequired Improvements, to be constructed pursuant to specifications that have been approved by the Engineering Services Director within 18 months from the date of �pproval of said subdivision plat. 2.Developer hereby authorizes Lender to hold $1,921,980.50 from the ConstructionLoan, in escrow, pursuant to the terms of this Agreement. 16.A.13.b
Packet Pg. 766 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
3.Lender agrees to hold in escrow $1,921,980.50 from the Construction Loan, to bedisbursed only pursuant to this Agreement. Lender acknowledges that this Agreement shall not constitute a draw against the Construction Loan fund, but that only such funds as are actually disbursed, whether pursuant to this Agreement or a provision of the Construction Loan, shall accrue interest. 4 .The escrowed funds shall be released to the Developer only upon written approvalof the Engineering Services Director who shall approve the release of the funds on deposit not more than once a month to the Developer, in amounts due for work done to date based on the percentage completion of the work multiplied by the respective work costs less ten percent (10%); and further, that upon completion of the work, the Engineering Services Director shall approve the release of any remainder of escrowed funds except to the extent of $174,725.50 which shall remain in escrow as a Developer guaranty of maintenance of the Required Improvements for a minimum period of one ( 1) year pursuant to Paragraph 10 of the Agreement. However, in the event that Developer after receiving thirty (30) days written notice and opportunity to cure, shall fail to comply with the requirements of this Agreement, then, the Lender agrees to pay to the County immediately upon demand the balance of the funds held in escrow by the Lender, as of the date of the demand, provided that upon payment of such balance to the County, the County will have executed and delivered to the Lender in exchange for such funds a statement to be signed by the Engineering Services Director to the effect that: a)Developer for more than sixty (60) days after written notification of suchfailure has failed to comply with the requirements of this Agreement;b)The County, or its authorized agent, will complete the work called forunder the terms of the above-mentioned contract or will complete suchportion of such work as the County, in its sole discretion shall deemnecessary in the public interest to the extent of the funds then held inescrow;c)The escrow funds drawn down by the County shall be used forconstruction of the Required Improvements, engineering, legal andcontingent costs and expenses, and to offset any damages, either direct orconsequential, which the County may sustain on account of the failure.ofthe Developer to carry out and execute the above-mentioned developmentwork; and,d)The County will promptly repay to the Lender any portion of the fundsdrawn down and not expended in completion of the said developmentwork.-2-16.A.13.b
Packet Pg. 767 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
5.Written notice to the Lender by the County specifying what amounts are to be paidto the Developer shall constitute authorization by the County to the Lender for release of the specified funds to the Developer. Payment by the Lender to the Developer of the amounts specified in a letter of authorization by the County to the Lender shall constitute a release by the County and Developer of the Lender for the funds disbursed in accordance with the letter of authorization from the County. 6.The Required Improvements shall not be considered complete until a statement ofsubstantial completion by Developer's engineer along with the final project records have been furnished to be reviewed and approved by the Engineering Services Director for compliance with the Collier County Subdivision Regulations. 7.The Engineering Services Director shall, within sixty (60) days of receipt of thestatement of substantial completion, either: a) notify the Developer in writing of his preliminary approval of the improvements; or b) notify the Developer in writing of his refusal to approve the improvements, therewith specifying those conditions which the Developer must fulfill in order to obtain the Director of the Required Improvements. However, in no event shall the Engineering Services Director refuse preliminary approval of the improvements if they are in fact constructed and submitted for approval in accordance with the requirements of this Agreement. 8.Should the funds held in escrow be insufficient to complete the RequiredImprovements, the Board, after duly considering the public interest, may at its option complete the Required Improvements and resort to any and all legal remedies against the Developer. 9.Nothing in this Agreement shall make the Lender liable for any funds other thanthose placed on deposit by the Developer in accordance with the foregoing provisions; provided, that the Lender does not release any monies to the Developer or to any other person except as stated in this Escrow Agreement. 10.The Developer shall maintain all Required Improvements for one year afterpreliminary approval by the Engineering Se�ices Director. After the one year maintenance period by the Developer and upon submission of a written request for inspection, the Engineering Services Director shall inspect the Required Improvements and, if found to be still in compliance with the Code as reflected by final approval by the Board, the Lender's responsibility to the Board under this Agreement is terminated. The Developer's responsibility for maintenance of the Required Improvements shall continue unless or until the Board accepts maintenance responsibility for and by the County. 11.All of the terms, covenants and conditions herein contained are and shall bebinding upon the respective successors and assigns of the Developer. IN WITNESS WHEREOF, the Board and the Developer have caused this Agreement to be executed by their duly authorized representatives this 24" day of J'vnQ..,. , 2003. -3-
16.A.13.b
Packet Pg. 768 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
Patrick G. White Assistant County Attorney H1JILSS/263408 v, 01 HAMMOCK WOODS, LLC REPUBLIC BANK BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA -4-
16.A.13.b
Packet Pg. 769 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
COIJJER COUNTY GOVERNMENT
COMMUNITY DEVELOPMENT AND ENVIRONMENTAL SERVICES DMSION
Engineering Services Department
2800 N. Horseshoe Dr. • Naples, Florida 34104 • 239-659-5744 • Fax 239-643-6968
January 6, 2 0 o€) .� � www.co.collier.fl.us
Mr. James Schaffer, Vice President Republic Bank
405 a th Street South Naples, FL. 34102
RE: Escrow Draw Request "Sierra Meadows"
Dear Mr. Schaffer:
Receipt of Estimate acknowledged. This engineering firm of
No. 1 on the subject estimate has been Banks Engineering.
property is hereby confirmed by the
Having reviewed this request and inspected the work performed, this office offers no objection to the payment of the said cost estimate in the amount of $199,080.00. According to our records, this will leave an available balance of $1,548,175.00 plus $174,725.50 as the required
10% maintenance security.
Please call this office if you have any questions or need any additional information.
Sincerely,
John ..JC)�1rth Senior Engineer
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cc: Dave Underhill, P.E., Banks Engineering
c:; 0 c:; 0 .. .. t. .l-'
16.A.13.b
Packet Pg. 770 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
COLLIER COUNTY GOVERNMENT
COMMUNITY DEVELOPMENT AND ENVIRONMENTAL SERVICES DMSION
Engineering Services Department
2800 N. Horseshoe Dr. • Naples, Florida 34104 • 239-6;9-5i44 • fax 239-643-6968
February 11, 2004 W\\W.co.collicr.fl.us
Mr. James Schaffer, Vice President Republic Bank 5551 Ridgewood Drive, Suite 303 Naples, FL. 34108
RE: Escrow Draw Request "Sierra Meadows"
Dear Mr. Schaffer:
Receipt of Estimate No. 2 on the subject property is hereby acknowledged. This estimate has been confirmed by the engineering firm of Banks Engineering.
Having reviewed this request and inspected the work performed, this office offers no objection to the payment of the said cost estimate in the amount of $190,744.20. According to our records, this will leave an available balance of $1,357,430.80, plus $174,725.50 as the required 10% maintenance security.
Please call this office if you have any questions or need any additional information.
Sincerely,
\10,� Jo1'rn R. Houldsworth Senior Engineer
jrh
cc: Dave Underhill, P.E., Banks Engineering
C 0 (�t C r C 0 .. .. t, y
16.A.13.b
Packet Pg. 771 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
COMMUNITY DEVELOPMENT AND ENVIRONMENTAL SERVICES DMSION
16.A.13.b
Packet Pg. 772 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
COLLIER COUNTY GOVERNMENT
COMMUNITY DEVELOPMENT AND ENVIRONMENTAL SERVICES DMSION
Engineering Services Department 2800 N. Horseshoe Dr. • Naples, Florida 34104 • 239-659-5744 • Fax 239-643-6968 www.co.collier.fl.us April 29, 2004
Mr. James Schaffer, VP Republic Bank 5551 Ridgewood Drive Naples, FL. 34108
RE: Escrow Draw Request "Sierra Meadows"
Dear Mr. Schaffer:
Receipt of Estimate No. 4, dated April 22, 2004, from Banks Engineering on the subject property is hereby acknowledged. This estimate has been confirmed by the engineering firm of Banks Engineering.
Having reviewed this request and inspected the work performed, this office offers no objection to the payment of the said cost estimate in the amount of $175,454.10. According t� our records, this will leave an available balance of $718,809.70 pLus $174,725.50 as the required 10% maintenance security.
Please call this office if you have any questions or need any additional information.
Sincerely,
Johnj()H�� Senior Engineer
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cc: Banks Engineering
C 0 y C 0 .. ...
16.A.13.b
Packet Pg. 773 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
COLLIER COUNTY GOVERNMENT
COMMUNITY DEVELOPMENT AND ENVIRONMENTALSERVICFS DMSION
Engineering Services Department
2800 N. Horseshoe Dr. • Naples, Florida 34104 • 239-659-5744 • Fax 239-643-6968
www.co.collier.fl.us
June 4, 2004
Mr. James Schaffer, VP Republic Bank 5551 Ridgewood Drive Naples, FL. 34108
RE: Escrow Draw Request "Sierra Meadows"
Dear Mr. Schaffer:
Receipt of Estimate No. 5, dated May 2, 2004, from Banks Engineering on the subject property is hereby acknowledged. This estimate has been confirmed by the engineering firm of Banks Engineering.
Having reviewed this request and inspected the work performed, this office offers no objection to the payment of the said cost estimate in the amount of $83,018.70. According to our records, this will leave an available balance of $635,791.00 plus $174,725.50 as the required 10% maintenance security.
Please call this office if you have any questions or need any additional information.
Sincerely,
�Cl . l Joltn R�sworth Senior Engineer
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cc: Banks Engineering
C 0 y C 0 .. .. t .v
16.A.13.b
Packet Pg. 774 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
COTJJRR COUNTY GOVERNMENT
COMMUNITY DEVELOPMENT AND ENVIRONMENTALSERVICESDMSION · Engineering Services Department 2800 N. Horseshoe Dr. • Naples, Florida 34104 • 239-659-5744 • Fax 239-643-6968
www.co.collier.fl.us
July 26, 2004
Mr. James Schaffer, VP Republic Bank 5551 Ridgewood Drive Naples, FL. 34108
RE: Escrow Draw Request "Sierra Meadows"
Dear Mr. Schaffer:
Receipt of Estimate No. 6, dated July 19, 2004, from Banks Engineering on the subject property is hereby acknowledged. This estimate has been confirmed by the engineering firm of Banks Engineering.
Having reviewed this request and inspected the work performed, this office offers no objection to the payment of the said cost estimate in the amount of $41,760.00. According to our records, this will leave an available balance of $594,031.00 plus $174,725.50 as the required 10% maintenance security.
Please call this of £ice if you have any questions or need any additional information.
Sincerely,
Joh� fui\-i dsw:r thSenior Engineer
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cc: Banks Engineering
C 0 y C 0 " ff t. y
16.A.13.b
Packet Pg. 775 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
COlvIMUNITYDEVELOPMENT AND ENVlRONMENTALSERVICES DMSION
16.A.13.b
Packet Pg. 776 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
COLLIER COUNTY GOVERNMENT Community Development and Environmental Services Division Engineering Services Department February 2, 2006
Mr. James Schaffer, VP
Republic Bank
5551 Ridgewood Drive Naples, FL. 34108 2800 North Horseshoe Drive• Naples, Florida 34104 RE: Sierra Meadows Construction, Maintenance and Escrow Agreement
Dear Mr. Schaffer:
Please be advised that Collier County has accepted an alternate security for the
subdivision improvements associated with Sierra Meadows. Therefore, any funds
remaining in the Construction, Maintenance and Escrow Agreement for Subdivision
Improvements may now be released to the developer.
If I can be of any further assistance to you in this regard, please let me know.
Sincerely,
Senior Engineer
Cc: Banks Engineering
C
Phone (239) 659-5744
0 e r C 0 U ff 't Y
Fax (239) 643-6968 or (239) 213-2913 www.colliergov.net
16.A.13.b
Packet Pg. 777 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
CONSTRUCTION, MAINTENANCE AND ESCROW AGREEMENT FOR SUBDIVISION IMPROVEMENTS
THIS AGREEMENT entered into this 'Z..� day of � •2006 byHammock Woods, LLC (hereinafter "Developer"), THEBOA OF COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA, (hereinafter "The Board") and TIB Bank (hereinafter "Lender").
RECITALS:
A.Developer has, simultaneously with the delivery of this Agreement, applied for the approvalby the Board of a certain plat of a subdivision to be known as: Sierra Meadows.
B.The subdivision will include certain improvements which are required by Co11ier Countyordinances, as set forth in a site construction cost estimate ("Estimate") prepared by Banks Engineering. a copy of which is attached hereto and incorporated herein as Exhibit 1. For purposes of this Agreement, the "Required Improvements" are limited to those described in the Estimate.
C.Sections 3.2.6.5.6 and 3.2.9.1 of the Collier County Subdivision Code Division of theUnified Land Development Code requires the Developer to provide appropriate guarantees for the construction and maintenance of the Required Improvements.
D.Lender has entered into a construction loan agreement with Developer dated ,\z.�t;x,(the "Construction Loan") to fund the cost of the Required Improvements.
E.Developer and the Board have acknowledged that the amount Developer is required toguarantee pursuant to this Agreement is $634,503.50, and this amount represents 110% of the Developer's engineer's estimate of the construction costs for the Required Improvements.
NOW, THEREFORE, in consideration of the foregoing premises and mutual covenants hereinafter set forth, Developer, the Board and the Lender do hereby covenant and agree as follows:
1.Developer will cause the water, sewer, roads, drainage and like facilities, the RequiredImprovements, to be constructed pursuant to specifications that have been approved by the Development Services Director within 30 months from the date of approval of said subdivision plat.
2.Developer hereby authorizes Lender to hold $634,503.50 from the Construction Loan, inescrow pursuant to the terms of this Agreement. (:\��v-.\ \\ , �...o�c-.> "'\ '"\ ·z. S(:>' .. "\
3.Lender agrees to hold in escrow $634,503.50 from the Construction Loan, to be disbursedonly pursuant to this Agreement. Lender acknowledges that this Agreement shall not constitute a draw against the Construction Loan fund. but that only such funds as are actually disbursed, whether pursuant to this Agreement or a provision of the Construction Loan, shall accrue interest.
4.The escrowed funds shall be released to the Developer only upon written approval of theDevelopment Services Director who shall approve the release of the funds on deposit not more than once a month to the Developer, in amounts due for work done to date based on the percentage completion of the work multiplied by the respective work costs less ten percent {I 0%); and further, that upon completion of the work, the Development Services Director shall approve the release of any remainder of escrowed funds except to the extent of $174,725.50 which shall remain in escrow as a Developer guaranty of maintenance of the Required Improvements for a minimum period of one ( 1)year pursuant to Paragraph IO of the Agreement.
16.A.13.b
Packet Pg. 778 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
However, in the event that Developer shall fail to comply with the requirements of this Agreement,
then the Lender agrees to pay to the County immediately upon demand the balance of the funds held
in escrow by the Lender, as of the date of the demand, provided that upon payment of such balance to
the County, the County will have executed and de1ivered to the Lender in exchange for such funds a
statement to be signed by the Development Services Director to the effect that:
(a)Developer for more than sixty (60) days after written notification of such
failure has failed to comply with the requirements of this agreement;
(b)The County, or its authorized agent, will complete the work called for under
the terms of the above"mentioned contract and will complete such portion of
such work as the County, in its sole discretion shall deem necessary in the
pub I ic interest to the extent of the funds then held in escrow;
( c)The escrow funds drawn down by the County shall be used for construction
of the Required Improvements, engineering, legal and contingent costs andexpenses, and to offset any damages, either direct or consequential, which the
County may sustain on account of the failure of the Developer to carry out
and execute the above"mentioned development work;and,
(d)The County will promptly repay to the Lender any portion of the funds drawndown and not expended in completion of the said development work.
5.Written notice to the Lender by the County specifying what amounts are to be paid to theDeveloper shall constitute authorization by the County to the Lender for release of the specified funds to the Developer. Payment by the Lender to the Developer of the amounts specified in a letter of authorization by the County to the Lender shall constitute a release by the County and Developer of the Lender for the funds disbursed in accordance with the letter of authorization from the County.
6.The Required Improvements shall not be considered complete until a statement of substantialcompletion by Developer's engineer along with the final project records have been furnished to be reviewed and approved by the Development Services Director for compliance with the Collier
County Subdivision Regulations.
7.The Development Services Director shall, within sixty ( 60) days of receipt of the statementof substantial completion, either: a) notify the Developer in writing of his refusal to approve the improvements. therewith specifying those conditions which the Developer must fulfil] in order to obtain the Director of the Required Improvements. However, in no event shall the Development Services Director refuse preliminary approval of the improvements if they are in fact constructed and submitted for approval in accordance with the requirements of this Agreement.
8.Should the funds held in escrow be insufficient to complete the Required Improvements, theBoard, after duly considering the public interest, may at its option complete the Required Improvements and resort to any and all legal remedies against the Developer.
9.Nothing in this Agreement shall make the Lender liable for any funds other than those placedin deposit by the Developer in accordance with the foregoing provision; provided, that the Lender does not release any monies to the Developer or to any other person except as stated in this Escrow Agreement.
16.A.13.b
Packet Pg. 779 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
\ O. The Developer shall maintain all Required Improvements for one year after preliminary
approval by the Development Services Director. After the one year maintenance period by the
Developer and upon submission of a written request for inspection. the Development Services
Director shall inspect the Required Improvements and. if found to be still in compliance with the
Code as reflected by final approval by the Board, the Lender's responsibility to the Board under this Agreement is tenninated. The Developer's responsibility for maintenance of the Required Improvements shall continue unless or until the Board accepts maintenance responsibility for and by the County.
11.All of the terms, covenants and conditions herein contained are and shall be binding uponthe respective successors and assigns of the Developer.
IN WITNESS WHEREOF, the Board and the Developer have caused this Agreement to be executed by their duly authorized representatives this '2.t..\'lh day of ;;:st:-n)""A, 2006.
SIGNED, SEALED AND DELIVERED IN Hammock Woods, LLC THE PRE:!NCE OF:%))�-:tr«,. By: �2
�'1:) ��c:£. � L. lX:t,),'}. Printed or Typed Name Printed or Typed Name
Printed or Typed Name
(TIB Bank
BY-�--__., �a��Terry Spurlock -Senior Vice President Printed or Typed Name
B;t/A./1 � .. /J(.AcoPC Printed or Typed Name
• f � fl ' • f :. fj_:! ;... ·. ATTEST·· · ' . · · .. · · , 1 ff.· DWIG}.-IT E .. BROCK;.�ERK ?· Uili_-'._. '-:Y:_
Jeffrey A. Klatzkow
Assistant County Atto e
( '
BOARD OF COUNTY COMMISSIONERS OF COLLIER CO�RIDA
By:��✓ Frank Halas Chairman
16.A.13.b
Packet Pg. 780 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
COLLIER COUNTY GOVERNMENT
Community Development and Environmental Services Division
Engineering Services Department 2800 North Horseshoe Drive • Naples, Florida 34104
October 3, 2006
Mr. James Schaffer, VP
Republic Bank
5551 Ridgewood Drive
Naples, FL. 34108
RE: Escrow Draw Request
"Sierra Meadows"
Dear Mr. Schaffer:
Receipt of Estimate No. 8, dated October 29, 2004, from Banks Engineering on the
subject property is hereby acknowledged. This estimate has been confirmed by the
engineering firm of Banks Engineering.
Having reviewed this request and inspected the work performed, this office offers no
objection to the payment of the said cost estimate in the amount of $215,257.50.
According to our records, this will leave an available balance of $224,520.50 plus
$174,725.50 as the required 10% maintenance security.
Please call this office if you have any questions or need any additional information.
Sincerely,
J L , {
Johii �worth
Senior Engineer
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cc: Banks Engineering
C
Phone(239)659-5744
0 ... C o u n t; y
Fax (239) 530-6201 www.colliergov.net
16.A.13.b
Packet Pg. 781 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)
COLLIER COUNTY GOVERNMENT COMMUNITYDEVELOPMENTAND ENVIRONMENTALSERVICESDMSION
Engineering Services Department
2800 North Horseshoe Drive• Naples, Florida 34104
October 24, 2007
Terry Spurlock
TIB Bank
599 9th St North Suite 100
Naples FL 34102
RE: Escrow Draw Request
"Sierra Meadows"
Dear Mr. Spurlock:
Receipt of Estimate No. 9, dated September, 2007, from. Banks Engineering on the
subject property is hereby acknowledged. This estimate has been confirmed by the
engineering firm of Banks Engineering.
Having reviewed this request and inspected the work performed, this office offers no
objection to the payment of the said cost estimate in the amount of $220,020.50.
According to our records, this will leave an available balance of $24,500.00 plus
$174,725.50 as the required 10% maintenance security.
Please call this office if you have any questions or need any additional information.
Sincerely, J��worth Senior Engineer
jrh
cc: Banks Engineering
0
Phone(239)213-5866
T C 0
Fax (239) 530-620 l
.. t; y
www.colliergov.net
16.A.13.b
Packet Pg. 782 Attachment: Bond Basis (15606 : Subdivision Extension - Sierra Meadows)