Agenda 06/14/2022 Item #16A15 (Royal Palm Golf Estates Replat #3 Extension for Improvements)06/14/2022
EXECUTIVE SUMMARY
Recommendation to approve an extension for completion of required subdivision improvements
associated with Royal Palm Golf Estates Replat #3 (AR-6774) 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 Royal Palm Golf Estates Replat #3 subdivision.
CONSIDERATIONS: On June 14, 2005, the Board of County Commissioners ("Board") approved the
final plat of Royal Palm Golf Estates Replat #3 for recording. The LDC requires that upon approval by
the Board of County Commissioners a plat must be recorded within 18 months a nd 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 was recorded (Plat Book 44,
Page 89) and the required subdivision improvements are substantially complete. On March 27, 2014, the
Development Review Division granted preliminary acceptance of the subdivision improvements. There
is a Construction and Maintenance Agreement for Subdivision Improvements and a Letter of Credit in
place as a development guaranty.
The property owner has requested that the Board approve an extension of the plat improvements final
acceptance deadline from September 23, 2021 to September 23, 2023. Because a new developer has
purchased the vacant lots (D.R. Horton) and intends to complete the remaining construction within 24
months. Should the Board approve the extension request, the improvements must receive final acceptance
prior to September 23, 2023. Previous extensions have been granted pursuant to Section 252.363, Florida
Statutes (various state of emergency extensions), as well as two 2-year administrative extensions per LDC
Section 10.02.05 C.2. Since this proposed extension is beyond what is allowed by the LDC, approval by
the Board is required.
The property owner has paid all 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: $150.00 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 Royal Palm Golf Estates Replat #3 (AR-6774) until September 23,
2023, subject to the recommendations of the June 14, 2005 approval.
Prepared by: Lucia S. Martin, Development Review Division, Growth Management Department
ATTACHMENT(S)
1. Location Map (PDF)
2. Bond Basis (PDF)
16.A.15
Packet Pg. 745
06/14/2022
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.A.15
Doc ID: 21889
Item Summary: Recommendation to approve an extension for completion of required subdivision
improvements associated with Royal Palm Golf Estates Replat #3 (AR-6774) subdivision pursuant to
Section 10.02.05 C.2 of the Collier County Land Development Code (LDC).
Meeting Date: 06/14/2022
Prepared by:
Title: Technician – Growth Management Development Review
Name: Lucia Martin
04/06/2022 1:18 PM
Submitted by:
Title: Environmental Specialist – Growth Management Department
Name: Jaime Cook
04/06/2022 1:18 PM
Approved By:
Review:
Growth Management Operations & Regulatory Management Kenneth Kovensky Additional Reviewer Completed 04/06/2022 3:45 PM
Growth Management Development Review Brett Rosenblum Additional Reviewer Completed 04/07/2022 9:50 AM
Growth Management Department Diane Lynch Growth Management Department Completed 04/07/2022 2:12 PM
Engineering & Natural Resources Jack McKenna Additional Reviewer Completed 04/14/2022 7:52 AM
Growth Management Department Jaime Cook Additional Reviewer Completed 05/04/2022 8:43 AM
Growth Management Department Trinity Scott Transportation Skipped 04/10/2022 8:16 PM
County Attorney's Office Derek D. Perry Level 2 Attorney Review Completed 05/05/2022 1:11 PM
Growth Management Department James C French Growth Management Completed 05/05/2022 1:40 PM
Office of Management and Budget Debra Windsor Level 3 OMB Gatekeeper Review Completed 05/05/2022 1:55 PM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 05/05/2022 3:00 PM
Office of Management and Budget Laura Zautcke Additional Reviewer Completed 05/10/2022 12:59 PM
County Manager's Office Amy Patterson Level 4 County Manager Review Completed 06/06/2022 1:46 PM
Board of County Commissioners Geoffrey Willig Meeting Pending 06/14/2022 9:00 AM
16.A.15
Packet Pg. 746
ROYAL PALM GOLF ESTATES REPLAT #3
LOCATION MAP
16.A.15.a
Packet Pg. 747 Attachment: Location Map (21889 : Subdivision Extension - Royal Palm Golf Estates Replat #3)
CONSTRUCTION AND MAINTENANCE
AGREEMENT FOR SUBDIVISION
IMPROVEMENTS
THIS CONSTRUCTION AND MAINTENANCE AGREEMENT FOR SUBDIVISION
IMPROVEMENTS entered into this ---11.!h day of November, 2005 between NAPLES
SOUTH, LLC, a Florida Limited Liabilitv Companv; NAPLES GOLF
DEVELOPMENT, LLC, a Florida Limited Liabilitv Companv; NAPLES GOLF
CLUB SOUTH, LLC, a Florida Limited Liabilitv Company 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 a certain plat of a subdivision to be known as:
ROYAL PALM GOLF ESTA TES RE PLAT #3
B.Section 10.02.04 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 oonded
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:
I.Developer will cause to be constructed site improvements including roadwav, water,
sanitarv, drainage, irrigation, and signage within 36 months from the date of
approval said subdivision plat, said improvements hereinafter referred to as the required
improvements.
2.Developer herewith tenders its subdivision performance security (attached hereto as
Exhibit "A" and by reference made a part hereof) in the amount of $2,148,561.25 which
amount represents 10% of the total contract cost to complete construction plus 100% of
the estimate cost of to complete the required improvements at the date of this Agreement.
3.In the event of default by the Developer or failure of the Developer to complete such
improvements within the time required by the Land Development Code, Collier County,
may call upon the subdivision performance security to insure satisfactory completion of
the required improvements.
'.': 2002\2002133' PLAT RECORDATION\CMA FOR SUI3D!VISION IMPROVEMENTS AS OF 051111.DOC
16.A.15.b
Packet Pg. 748 Attachment: Bond Basis (21889 : Subdivision Extension - Royal Palm Golf Estates Replat #3)
4.The required improvements shall not be considered complete until 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 Development Services Director for
compliance with the Collier County Land Development Code.
5.The Development Services Director shall, within sixty (60) days of receipt of the
statement 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 improvements, therewith specifying those conditions which the
Developer must fulfill in order to obtain the Director's approval of the 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.
6.The Developer shall maintain all required improvements for a minimum period of one
year after preliminary approval by the Development Services Director. After the one year
maintenance period by the Developer has terminated, the Developer shall petition the
Development Services Director to inspect the required improvements. The Development
Services Director or his designee shall inspect the improvements and, if found to be still
in compliance with the Collier County Land Development Code as reflected by final
approval by the Board, the Board shall release the remaining I 0% of the subdivision
performance security. 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.
7.Six (6) months after the execution of this Agreement and once within every six (6)
months thereafter the Developer may request the Development Services Director 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 subdivision
performance security shall be accompanied by a statement of substantial completion by
the Developer's engineer together with the project records necessary for review by the
Development Services Director. The Development Services Director 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.In the event the Developer shall fail or neglect to fulfill its obligations under this
Agreement, upon certification of such failure, the County Administrator 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 and acceptance of bids, the improvements required herein. The Developer, as
principal under the subdivision performance security, shall be liable to pay and to
•.,· 2002\2002133\PLAT RECORDATION\CMA FOR SUBDIVISION IMPROVEMENTS AS OF 051 111.DOC
16.A.15.b
Packet Pg. 749 Attachment: Bond Basis (21889 : Subdivision Extension - Royal Palm Golf Estates Replat #3)
indemnify the Board, upon completion of such construction, the final total cost to theBoard thereof, including, but not limited to, engineering, legal and contingent costs,together with any damages, either direct or consequentiat, wtrictr the Board niay sustainon account of the failure of the Deveroper to fuIfil all of the provisions of this
Agreement.
9. All of the terms, covenants and conditions herein contained are and shall be bindinc
upon the Developer and the respective successors and assigns "ith; D;;d";;r. - -----"'-
IN wITNEss WHEREOF, the Board and the Developer have caused this A$eement to
be executed by their duly authorized representatives this _[ duy ofN;r";b.r. r06i.
OF CEsrGtrgo, seeLeo AND DE LIVERED IN THE PRESEN NAPLES SO
Byr Naplcs
as its
a Florid& Limited Li&bility Company
a Floridr Limited Liability Company,
Bsature
as its
Printed or Name Title: Mana
DEVELOPMENT, LLC, a Ftorida Limited
pment, LLC a Florida Limited
asLiabilic Mane
Liability Compsny
NAPLES
Byr Nsples
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as itsBIooPrinted or d Name Title: Manager
NAPLES GOLF CL
Liability Compatry
UB SOUTH, LLC, A Florida Limfted
LLC, A ted LiabilitvNaples Golf
as its M
By:
Com
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S ature \As as its M
Title:
Printed or Name
J
ATTEST:
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Title: Assistant Atto
w:V002U002133\PLAT RECORDATION\CMA FOR SUBDTVISTON IMPROVEMENTS AS OF 051I I LDOC
f7l(
16.A.15.b
Packet Pg. 750 Attachment: Bond Basis (21889 : Subdivision Extension - Royal Palm Golf Estates Replat #3)
ENGINEER'S OPINION OF PROBABLE GOST
NAPLES GOLF CLUB SO ka BOYNE SOUT
HM File No.2002.133 /jrii:"te->
October 15,2OO4
Unit
SY
SY
SY
LF
LF
LF
LF
QUANTITY Total ijnit L:ost I'otal Cost
PAVEMENT (S:Y:)
I1," Aqp!tc!!fcyllg Ji'Pq Q-!!!-(?) 3/4'' Lirts
8" Linrerock Base
12" Stabilized Qulgfq{g__ _
Yellev cvllet glwi9sl
172s2 17292 $4.s0 5.60
$6.20 $ 107 10.401729217292
21 096 21096 $1.90
$6lo
$40,082.40
19,452.501302513025
A 315 315
189
$2,835.00
$7.e0 $1,493.10-'-$i 1.75 $9q,q1q,!q
92,q9q,gq
$4,058.70-$1o.oo$0.30
1,350.00 ,|
i991,!9
75 - -$20 ,599.50
$i 20.00 ,200.00
$120.00
100.00
$1oo.oo
$200.00
50
lvpe E lrqlllie9)
6'Wide Concre !q9i9swcl[ (1 ll!!iq[)
5'Wide Concrete Sidewa tk(4" thick)
Sod S
189
3286 3286
3209 3209
13529 1 3529
L,
Seed and Mulch 1.25
39466
1.25
39466
B!g!! glway Grading _ _
PCP
Elgregs-rylerllu a !!g!t!!tts -- - -- -
9lgp.9!gtE-
9 Button Rellectors S
35 35
Pavement Sub-Total
2
lgns
4
9 pss9ryEIfj9. s isry_ _,__
Street
?t'l9t-og Bar, White astic
9'-vQe$e91cL ite
12" wide White for Crosswalk
6" Solid Y
2 qi00rq
$5.0021
123
$0.20
6" Solid White
4"S \t p- 9!t!pit g (ryltile I -
Directional Arrows/Markers
$o.sB
60rs- $7s.oo
17 $6.00
385.00
Fire 34Street Li
9lteet! !g!lits-$t,oso.oo
9lrsq-r-ig lrt Service
Guardrail - furnish & install
LF
AG
SV
EA
$415,675.20
EA
EA
EA
EA
LF
LF
LF
LF
EA
LF
LF
$240.00
$400.00
$320.00
$i05.00
$o.oo
$a07.so
-_s0.00
-- - 6io2.oo- $07,308 0o
$o.oo
$o.oo
$o.oo
.00
00
$o.oo
$o.tto
$0.00
$98,782.50
2
0
0
0
0
0
0
0
0
2
0
4
21
't23
0
17
34
EA
EA
EA
EA
LF
EAGuardrailinchorage (TYPe ll)
S
Sub-Total
$1e.50
7
$9.00
LF
Q,o
$852 00
16.A.15.b
Packet Pg. 751 Attachment: Bond Basis (21889 : Subdivision Extension - Royal Palm Golf Estates Replat #3)
LF
LF
LF
LF
LF
EA
EA
LF
LF
--$14 40
$42.s0
$25.00
$1 8.1 0
.00
.00
00
70
7.',to
,20q,99
001,Q3o'
1 00
$1 180.00
$2,150.00
$890.00
$1,384.00
127
1110
Water Main
0
0
0
I
1 -l
3
5
30 30
2980 2980
0
0
127
5447 - 5447
180
I
1
7
2
1
7
2
0
3
5
0
4
11 10
180
5,984.00
s9,440.00
1,900.00
$o.oo
,258.00
,360.00
oo
00
00
,|.00
.00
$
$0.00
$37 ,1qq,gg
11 ;BB0-00
-Sl
1 72 .9052
$896.00
.00
00
44',t.70
lenl___lpat.---IEAt_ -___
L_eo_
EA*EA
-EA-
-EA
-LF
LFi{
EA 2 2
0
0
032
680
139
032
139
I
LF
LF
LF-tF-
LF-tF
EA
0
0
12;000.00
. _- $1.,_1gg,qg
$o.oo
-- $50:00
$1
00
.00000
.00
.00
oi5.so
732.00
$192,821.54
EA
EA
EA
EA
Fil;; tui;in-
1
1
0
1
1
0
^LEr
LF_'L-
-tF
l6" PVC Water tulain DR25
12" PVC Water Main DRIB
10" PVC Water Main DRl4
B" PVC Water Main DRlB
B'PVC Water tulain DR14
f erp - 9lqryelt Arryrllvll ql L -
991 llelnpsrsrv)- - -. - _
6"PVc FffitMAin DRi4
iRRaGAfaoN
WATER
12" Gate Valve and Box
10" Gate Valve and Box
B" Gate Valve and Box
10"x8" LEMJ Reducer
FORCE MAIN
Air Release Valve
a;iPVe Force Maln DR18
ilgle Water Service
19-P-!ug Valve
9lltY9 ltlge tion Main DR18
4
16" 8u Valve and Box
1"S
4" Conduit furnished & installed)
Main DR14
tion Main DRlB
Pstr r p s tqliqJr 11 9:11--9_1
10" PVC Force Main DR
Diameter
18
io;; PVc Fo;;tmfi DRi 4
lg!y!u[e_gr sgli 40 PVC
6" Plug
4'PVC Force lvlain
PVC Force Main DR18
4"
6'' PVC I
4::Eyq !
E itg-_t _l y 91e ! ! {s :g n:!! v
Air Release Valve
EEE (peucrrer!)
1 390
1410 1410
0
1 390
Sub-Total
$85,000.00
$20.70
7.10
$1 1.50
$13.40
0.00
00
90
$5o.oo
$9.90
0
00
00
960.00
12.50
14.50
.90
0.90
.00
,130.00
_-- $15,e85.00
$o.oo
fri,9!9.9q
$0.00
12" PVC Water Main DR14
i0''PVe WeieiMein DRis
$396.0C
$0.0[
4
68C
$o.oo
$o.oc
4" Plug Valve
Sub-Total
l.^k^At^ /\^^r -t-0
16.A.15.b
Packet Pg. 752 Attachment: Bond Basis (21889 : Subdivision Extension - Royal Palm Golf Estates Replat #3)
\
5,550.00
$2,880.00
)" [)VC hrig;ation fulain Sclt4t)
ti l t_zate vqlyq q1! Erl
4" Gate Valve arrd Box
Pernranerrt Blowoff Assenrbly (4")
Aii R;i;;a;Vii,e
LF
EA
EA
EA
EA
925
4
4
2
6
SEWAGE COLLECTION
9::LYq 9revrty
9:ltYq 9ev-i!v
q::EYq 9Ev!!v
Sewer 0-6'Cut
S;;;618;eili----
Ey!!y 9eyslq_'!0'Cut
Sewer 10-lr'cua
LF
LF
1 835
591
!:tryg q 598
9l lY9 9rv
9llYq 9tqutv
q::EVQ Qtqvtlt'
Sewer i2-i4; cut
2157
591
173Sewer 14-16'Cut
$wei io-iB; eui- -
438
Manhole 0-6'Cut 4
Manhole 6-8'Cut 3
5fularrlrole 8-10" Cut
Marrlrole 10-12" Cut 4
Manhole 12-14" Cul
Manlrole 14-16'Cut
lt4anhole 16-18'Cut
Laterals
6" Cleanouts
Video Gravi!y 9ewgl_
Video Gravity Sewer ('l year after acceptance)
DRAINAGE
15" RCP
1B'RCP
24'RCP
3O'' RCP
36" RCP
4B'' RCP
15" Flared End Sectiott
18" Flared End Section
24' Flared End Sectiorr
30" Flared End Seclion
ILF[tF
,-!t_
LF
tF-_EA*
-----lEA
---lEAI
EAl___.t
EAI
----,1EAI
5
3
2EA
LF
EA
LF
1,562.00
'13,120.20
i B;558.60
$88,437.00
orB;050.00| $'to,oe+.ool
r--$50;Z22.ool- --$B;ZoB.o0
- - - $7:2eao0- *$1s;5ro.do
-$1!,0i2,qq
$21,910.00- -gi4,076.0o- -$i 1;oio.00
. -la4,Zqq,0q
$
l_
743.OO
__ $z?q q9
$590.00
$5,qqs.9q
$12.5o
Sub-Total
$17.20
1.00
$2,052.00
00
$-----$JO
00
00
----T5o 70
00
$22.20
432.O0
064.00
$4,382.00
$ 1 ,100.00
$i,650.oo
qqs!q
$69.00
,768.00
$379,243.80
1 qqq
591
925
3540
6383
4
4
598
4
3
5
4
Sewage
2
6
3
2
2157
438
591
173
89
6383
LF
LF
LF
LF
-LF 1 576
613
277
1 948
3631
llr
EA
EA
EA
EA
EA
EA
CY
EA.
1 576
1 948
23
7
20
4
10
89
65 83
613
3540
6383
3631
277
2212
6
2212
10
6
7
20
0
4
23-'--i
$s50.oo
$1,ooo.ot)
Sub-
1.80
qiZqq,qq
001
$22.60
$900.00
$26.40
$33.e0
51.60
$zs.so
$35,617.60-- is1,4fino--$125,iigo:00
_ ,_01r;q7a,qq
$31,630.80
$176,738.80
--_gs;400.00--$0;soo.oo
| $za,ooo.ooI -q1,?oq,oo
I $g,aoo.oo
_$9?,ggq,qq
$o.oo
$5,840.00
$2,360.00
$0;iBo:00
$2,2oo.oo
52,00
56'Fi;;ea End Secliorr
aB;'F lared Errd Section
Bip.-EeP_e!lers
C
end
$4e.oo
E
$6,383.0C
$6,383.0C
LF
1
$1,400.00
$55.0r
16.A.15.b
Packet Pg. 753 Attachment: Bond Basis (21889 : Subdivision Extension - Royal Palm Golf Estates Replat #3)
-----------------------------------------------1----l-----------t-------�����-:---------,-�-------�Grand Total $1,953,237.50
----· ·-·-·····----------------------------------·----------+-----------1---------------------------Collier _County_ Rev!�� ��e __ s _______ 1----1-----------------___________________ _ t---------------------------------
Fire
Fire Code Review Fee associated with FSP ------•------------------,---------$150.00 . ------------- -----------·-----··------------- ···-· ----------------------------------------1------·--------·-----------------------------
Subdivision --------------· ------------------------------------------------------
Plat ($1000 plus $5 per acre for residential) ($5 x 121 Ac.) $1,605.00 Construction Document (0.75% of probable cost"of construction) $14,649.28 --subdivision· inspection Fee-(225%ofprobable cost of construc_,__lio-n--)·_--_-___ -__ -_===-------=-==-------------=--------t-----$.,,.43,947.B4 Utility Facilities Construction Document Review (0.75% of probable water & s�wer construction costs) $5,911.75 UBHiy Faciimes-inspedlon Fee (2.25% of probable water & sewer construction costs)$17,735.26 ---.------------------------------------Sub-Total $83,999.14 ·--- ---------------------------------+--+-----------Pre-appiicatlon fee -$500.00,_ __ _ ---1---1-------------------------1-----------------·-·····--·····-----. --------------------------
$83,499.14 . ···--·-···----···-----·------------------f---+-----------�----------t---------T-----
c:-1?nn?1?nn?t::l3\Bovne South Engineer's Opinion of Probable Cost.xis
16.A.15.b
Packet Pg. 754 Attachment: Bond Basis (21889 : Subdivision Extension - Royal Palm Golf Estates Replat #3)
TransCapltal
Bank IRREVOCABLE STANDBY LETTER OF CREDIT NO. 00-0033
ISSUER: Transcapital BanJc 2100 E Hallandale Beach Blvd HaUandale Bch, Fl 33009 (HERINAFTER "Issuer").
PLACE OF EXPIRY: At Issuer's counters.
DATE OF EXPIRY: This Credit shall be valid until 10/20/06, and shall thereafter be automatically renewed for successive oneyear periods on the anniversary of its issue unless at least sixty (60) days prior to any such anniversary dates, the Issuer notifies the Beneficiary in writing by registen:d mail that the Iaucr elects oot to so renew this Credit
APPLICANT: Naples GolfOub South, LLC, Naples Golf Development, LLC & Naples Golf Club Soatb, LLC (berebtafter
"Applicant") 7100 W Camino Real #CO2, Boca Ratoa, F133433
BENEFICIARY: The Board of County Commissioners. Collier County, Florida (hereinafter "Beneficiary") c/o F.ngincering Review Services, 2800 North Horseshoe Drive. Naples, Florida 34104
AMOUNT: $2,148,561.25 (U.S.) upto an aggregate thm,of.
CREDIT AVAILABLE WI1H: muer.
BY: Payment against documents detailed herein and Beneficiary's drafts at sight drawn on the Issuer.
DOCUMENTS REQUIRED: AVAILABLE BY BENEFICIARY'S DRAFf(S) AT SIGHT DRAWN ON 1llE ISSUER AND ACC OMPANIED BY BENEFICIARY'S STATEMENT PURPORTEDLY SIGNED BY 1llE COUN1Y MANAGER, CERTIFYING TiiAT: Naples GolfOub South, LLC, Naples Golf Development, LLC & Naples Golf Club South, LLC bas failed to construct and/or maintain the improvements associated with that certain plat of a subdivision known as Naples South,
LLC, Naples Golfl>evelopmnt, LLC & Naples GolfO■b Soatll, LLC or a final inspcc.tion satisfactory to Collier County bas
not been performed prior to the date of expiry, and satisfactory alternative performaoce security bas not bcc:n provided to and
fonnally accepted by the Beneficiary.
DRAFT(S) ORA WN UNDER nns LETTER OF CREDIT MUST BE MARKED: "Drawn under Tnmscapital Bank Credit No 00-0033, dated October20, 2005. The original letter of credit and all amendmcots, if any, must be preseotcd for properendorsement
This letter of Credit sets forth in full the terms of the Issuer's undertaking and such undcriaking shall not in any way be modified,
amended, or amplified by reference to any document, instrument, or agreement ref a coccd to herein or in which this letter of credit relates, and any such rcfcrcoce shall not be deemed to incorporate herein by rcfcrcnce any document, imtnnnent or agreement
Issuer hereby engages with Beneficiary that draft(s) drawn under and compliance with the tams of this credit will be duly honored by Issuer if presented within the validity of this credit.
This credit is subject to the Uniform Customs and Practice for Docwnentary Credits (1993 Revision) lntcmational Chamber of Commerce Publication No. 500.
By: WiDiam E. Himes,
Execntive Vice Praldent
16.A.15.b
Packet Pg. 755 Attachment: Bond Basis (21889 : Subdivision Extension - Royal Palm Golf Estates Replat #3)
Trans Capital
Bank This is an Addendum to the Irrevocable Standby Letter of Credit No. 00-0033. DOCUMENTS REQUIRED: AVAILABLE BY BENEFICIARY'S DRAFT(S) AT SIGHT DRAWN OF THE ISSUER AND ACCOMPANIED BY BENEFICIARY'S STATEMENT PURPORTEDLY SIGNED BY THE COUNTY MANAGER, CERTIFYING THAT: Naples Golf Club South, LLC, Naples Golf Development, LLC & Naples Golf Club South, LLC has failed to construct and/or maintain the improvements associated with .that certain plat of a subdivision known as ROY AL PALM GOLF ESTATES REPLAT #3 or a final inspection.satisfactory to Collier County has not been perfonned prior to the date of expiry, and satisfactory alternative perfonnance security has not been provided to and fonnally accepted by the Beneficiary. Transcapltal Bank� By:� _, William E. Himes, Executive Vice President 16.A.15.b
Packet Pg. 756 Attachment: Bond Basis (21889 : Subdivision Extension - Royal Palm Golf Estates Replat #3)
11ransCapltal
Bank .IRREVOCABLE STANDBY LETTER OF CREDIT NO-00-0033ISSUER: Transcapital Bank 2100 E Hallandale Beach Blvd Hallandale Bch, Fl 33009 (HEREINAFTER "Issuer')PLACE OF EXPIRY: At Issuer's counters.DATE OF EXPIRY: This Credit shall be valid until 10/20/11, and shall thereafter be automatically renew for successive oneyear periods on the anniversary of its issue at least sixty (60) days prior to any such dates, the Issuer notifies the Beneficiaryin writing by registered mail that the Issuer elects not to do so renew this Credit.APPLICANT: Napies Golf Club South, LLC, Naples GolfDe,·e:opuu,nt, LLC & Naples Club S.:>utb-, LLC (hereinafter"Applicant") 7100 W Camino Real # 402, Boca Raton, Fl 33433/BENEFICIARY: The Board of County Commissioners, Coliier County, Florida (hereinafter "Beneficiary") c/o EngineeringReview Services, 2800 North Horseshoe Drive, Naples, Florida 34104AMOUNT: $374,130._95 (U.S.) up to an aggregate thereof.CREDIT AVAILABLE WITH: Issuer.BY: Payment against documents detailed herein and Beneficiary's drafts at sight drawn on the Issuer.DOCUMENT REQUIRED: AVAILABLE BY BENEFIClARY'S DRAFT{S) AT SIGHT ORA WN ON Tiffi ISSUERAND ACCOMPANIED BY BEBEFFITCARY'S STATEMENT PURPORTEDLY SIGNED BY Tiffi COUNTY MANAGE� CERTIFYING THAT: Naples Golf Club South, LLC, Naples Golf Development, LLC & Naples ClubSouth, LLC has failed top construct and/Qr maintain the improvements associated with that certain plat of a subdivisionknown as Naples Golf Club South, LLC, Naples Golf Development, LLC & Naples Club South, LLC or a final inspection satisfactory to Collier County has not been performed prior to the date of expiry, and satisfactory alternativeperformed security has not been provided to and fonnally accepted by the Beneficiary.DRAFT(S) ORA WN UNDER THIS LETETR OF CREDIT MUST BE MARKED: "D rawn under Transcapital Bank CreditNo. 00-0033, dated October 20, 2005. The original letter of credit and all documents, if any, must be presented for properendorsement.This letter of Credit sets forth in full the terms of the Issuer's undertaking and such undertaking shall not in any way be modified, amended, or amplified by reference to any document, instrument, or agreement referenced to herein or in whichthis Jetter of credit relates, and any such reference shall not be deemed to incorporate herein by reference any document,instrument or agreement.Issuer hereby engages with Beneficiary that draft( s) drawn under and compliance with terms of this letter of credit will beduly honored by Issuer if presented within the validity of credit.This credit is subject to the Uniform Customs and Practice for Documentary Credits {1993 Revision) International Chamberof Commerce Publication No. 500.::�. William E. Himes, President & CEO 16.A.15.b
Packet Pg. 757 Attachment: Bond Basis (21889 : Subdivision Extension - Royal Palm Golf Estates Replat #3)