Agenda 06/11/2024 Item #16A 7 (Clerk to release a Performance Bond of $234,500 as a guaranty for Excavation Permit-Magnolia Pond Residences)06/11/2024
EXECUTIVE SUMMARY
Recommendation to authorize the Clerk of Courts to release a Performance Bond in the amount of $234,500,
which was posted as a guaranty for Excavation Permit Number PL20190002027 for work associated with
Magnolia Pond Residences.
OBJECTIVE: To release a security that was posted as a development guaranty.
CONSIDERATIONS: The Development Review Division routinely accepts securities administratively as
guaranties for developer commitments in accordance with Section 22-115 of the Collier County Code of
Ordinances. The work associated with this security has been inspected, and the developer has fulfilled his
commitments. The Performance Bond was posted as security for an Excavation Permit associated with Magnolia
Pond Residences. The As-Built lake cross sections have been received, and the lake was inspected on April 19,
2024, by the Development Review Division.
FISCAL IMPACT: Performance Bond securities are held as a development guaranty and released after work is
performed.
GROWTH MANAGEMENT IMPACT: No growth management impact is associated with this action.
LEGAL CONSIDERATIONS: This item has been approved as to form and legality and requires a majority vote
for Board approval. - DDP
RECOMMENDATION: To authorize the Clerk of Courts to release the Performance Bond in the amount of
$234,500. Development Review staff will issue a Memorandum to the Clerk of Courts upon approval of this item,
advising the Clerk of this action.
Prepared by: Lucia S. Martin, Project Manager I, Development Review Division
ATTACHMENT(S)
1. Location Map (PDF)
2. Bond Basis (PDF)
16.A.7
Packet Pg. 564
06/11/2024
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.A.7
Doc ID: 28731
Item Summary: Recommendation to authorize the Clerk of Courts to release a Performance Bond in the amount
of $234,500 which was posted as a guaranty for Excavation Permit Number PL20190002027 for work associated
with Magnolia Pond Residences.
Meeting Date: 06/11/2024
Prepared by:
Title: Technician – Development Review
Name: Lucia Martin
04/26/2024 3:27 PM
Submitted by:
Title: Environmental Specialist –
Name: Jaime Cook
04/26/2024 3:27 PM
Approved By:
Review:
Development Review Brett Rosenblum Other Reviewer Completed 04/29/2024 9:20 AM
Engineering & Natural Resources Jack McKenna Other Reviewer Completed 04/29/2024 4:56 PM
Transportation Management Operations Support Evelyn Trimino Other Reviewer Completed
05/06/2024 12:34 PM
Operations & Regulatory Management Michael Stark Other Reviewer Completed 05/06/2024 2:51 PM
Growth Management Community Development Department Diane Lynch GMD Approver Completed
05/07/2024 4:46 PM
Unknown Jaime Cook Division Director Completed 05/28/2024 11:20 AM
Growth Management Community Development Department James C French Growth Management Completed
05/28/2024 1:39 PM
County Attorney's Office Derek D. Perry Level 2 Attorney Review Completed 05/28/2024 5:07 PM
Office of Management and Budget Debra Windsor Level 3 OMB Gatekeeper Review Completed 05/29/2024 8:33 AM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 05/29/2024 10:57 AM
Office of Management and Budget Laura Zautcke OMB Reviewer Completed 05/30/2024 9:47 AM
County Manager's Office Geoffrey Willig Level 4 County Manager Review Completed 05/30/2024 12:25 PM
Board of County Commissioners Geoffrey Willig Meeting Pending 06/11/2024 9:00 AM
16.A.7
Packet Pg. 565
MAGNOLIA POND RESIDENCE
LOCATION MAP
16.A.7.a
Packet Pg. 566 Attachment: Location Map (28731 : Excavation Bond Release - Magnolia Pond Residences)
WHEREAS, Developer has applied for an excavation permit in accordance with Section
22-106, et a/. of the Collier County Code of Laws and Ordinances, and the Collier County Land
Development Code, including but not limited lo Section 3.05. '10 (collectively, the "Excavation
Regulations"); and
WHEREAS, the Excavation Regulations require the Developer to post appropriate
guarantees and execute an Excavation Performance Security Agreeqent stallng applicant will
comply with the Excavation Regulalions and Excavation Permit Nd"'''*"'(the "Excavation
Permit").
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:
Developer agrees to comply with the Excavation Regulations and the Excavation
Permit (the "Excavation Work").
Developer herewith tenders its excavation performance security (attached hereto
as Exhibil "A" and by reference made a part hereof) in the amount of $23a.500P
The Excavation Work shall not be considered complete until Developer notifies the
County that the Excavation Work is complete and the final Excavation Work is
reviewed and approved by the County Manager or designee for compliance with
the Excavation Regulations.
The County Manager or designee shall, within sixty (60) days of receipt of
notification by Developer in writing that the Excavation Work is complete, either. a)
notify Developer in writing of his approval of the Excavation Work; or b) notify the
Developer in writing of his refusal to approve the Excavation Work, therewith
specifying those condltions which Developer must fulfill in order to obtain the
County Manager's approval of the Excavation Work.
ln the event Developer shall fail or neglect to fulfill its obligations under this
Agreement, upon certification of such failure, the County Manager or designee
may call upon the excavation performance security to secure salisfactory
completion, repair and maintenance of the Excavation Work. The Board shall have
lhe right to construct and maintain, or cause to be constructed or maintained,
pursuant to public advertisement and receipt and acceptance of bids, the
Excavation Work. The Developer, as principal under the excavation performance
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EXCAVATION PERFORMANCE AGREEMENT
THIS EXCAVATION PERFORMANCE AGREEMENT entered into this 1fl-aaV ot
l)ptp,- hz r , 2o-llq bebr,reen Magnolia Naples Apartments, LLC, hereinafter referred to as
"Developer," and the Board of County Commissioners of Collier County, Florida, hereinafter
referred to as the "Board".
In the event of default by Developer or failure of Developer to complete the
Excavation Work within the time required by the Excavalion Regulations and
Excavation Permit, Collier County, may call upon the excavation performance
security to insure satisfactory completion of the Excavation Work.
16.A.7.b
Packet Pg. 567 Attachment: Bond Basis (28731 : Excavation Bond Release - Magnolia Pond Residences)
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
Developer to fulfill all of the provisions of this Agreement.
lN WITNESS WHEREOF, the Board and Developer have caused this Agreement to be
executed by their duly authorized representatives this gth day of December, 2019_.
SIGNED IN THE PRESENCE OF
Magnolia Naples Apartments, LLC, a Delaware
limited liability company, its sole member
TRG Magnolia Member. LLC, a Delaware limited
ility company,
7
By:
liab
By:fi;:"*'
Pri ame: J CSSC oeppel
ATTEST
Crystal K. Kinzel, CLERK
By
Clerk ofthe Circuit Court & Comptroller
Collier County, Florida
Sally A. Ashkar
William T. Fab ri, Executive Vice President
BO
OF
By:
ARD OF COUNTY COMMISSIONERS
COLLIER COUNTY. F LORIDA72_
I C-
as designee ofthe County Manager
pursuant to Resolution No. 2015-162
Assistant County Attorney
All of the terms, covenants and conditions herein contained are and shall be
binding upon Developer and the respective successors and assigns of Developer.
,l LL
Print Name: f ara Milazzo
t,1
Approved as to form and legality.
16.A.7.b
Packet Pg. 568 Attachment: Bond Basis (28731 : Excavation Bond Release - Magnolia Pond Residences)
ur L,(,/
ft,-brv By:
h/t
PERFORMANCE BOND
FOR EXCAVATION WORK
Bond No. K15378104
KNOW ALL PERSONS BY THESE PRESENTS: thAt
Magnolia Naples Apartment, LLC.
477 S. Rosemary Avenue, Suite 310, West Palm Beach, FL 33401
(hereinafter referred to as "Owned') and
Westchester Fire lnsurance Company
436 Walnut Street, Philadelphia, PA 19106
(hereinafter referred to as "Surety") are held and firmly bound unto Collier County, Florida,(hereinafter
referred to as "County") in the total aggregat e sum of Two Hundred Thirtv Four Thousand Five Hundred
and No/100 Dollars ($234.500.00) in laMul 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 has submitted for approval by
the Board a certain excavation permit no. PL20190002027 and that certain excavation permit shall
include specafic improvements which are required by Collier County Ordinances and Resolutions
(hereinafter "Land Development Regulations"). This obligation of the Surety shall commence on the date
this Bond is executed and shall continue until the date of completion of the work and approval by the
County of the specific amprovements described in the Land Development Regulations (hereinafter the
"Guaranty Period") or until replaced by a new bond in the event of a change of Ownership.
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 oblagation 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, exlension 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, addation 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," 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.
lN WITNESS WHEREOF, the parties hereto have caused this PERFORMANCE BOND to be
executed this l4th day of Januarv, 2020.
IT SSES:Magnolia Na Apartments, LLC
By: TRC M ber, LLC
A)G \L
'l ara S. Milazzo
Printed Name
William Executive Vice Prcsident
Printed Na me/Title
(Provide Proper Evidence of Authority)
P rin e d Name
I1s rDS 01664/11s3600/11
16.A.7.b
Packet Pg. 569 Attachment: Bond Basis (28731 : Excavation Bond Release - Magnolia Pond Residences)
ACKNOWLEDGEI\,,IENT
STATE OF Florida
COUNTY OF Palm Beach
THE FOREGOING PERFORMANCE BOND WAS ACKNOWLEDGED BEFORE ME THIS 14th DAY OF
Januarv, 2020, BY William T. Fabbri AS Executive Vice President OF Magnolia Naples Apartments, LLC
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Westche te Fire lnsur nce Com pa ny
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Kclli I louswo(h \J. Monto va-
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Printed Name/Title
(Provide Proper Evidence of Authority)
P fln Name
ACKNOWLEDGMENT
THE FOREGOING PERFORMANCE BONO WAS ACKNOWLEDGED BEFORE ME BY MEANS OF X
PHYSICAL PRESENCE OR
-
ONLINE NOTARIZATION THIS 'l4rh DAY OF Januarv, ZOZO, ey Sneila
J. Montoya AS Attorney-ln-Fact OF Westchester Fire Insurance Company WHO lS PERSONALLY
KNOWN TO ME. OR+H"9+ROBI"'€EO----------------AG]OEF+T+F1€ATION.
Notary Public - State of Colorado
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Leah N Slowart
My Cor ni3ain GG 239642
ExriE! 07/1 &2022
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WITNESSES:
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STATE OF Colorado
COUNTY OF Denver
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16.A.7.b
Packet Pg. 570 Attachment: Bond Basis (28731 : Excavation Bond Release - Magnolia Pond Residences)
.CHUE}EI
Power of Attomey
Federal Insurance company I vigilant lnsurance company I Pacific Indemnity Company
westchester Fire Insurance Company I ACE American Insurance Company
XDo, AII by'Itclc lt!.e!tr, that PBDBR.A.L SURANCB @l.IPrtNY, ,n lndiana corporation, VIGIIIINT It{SlJt l{G COYP }{Y, a New YorI corporation, PACmC
INDXIIMTY COI{P NY. a wis.onsl. corporarion. WESTCHaSItst nRA INSURTNCB mXPAXY and ACB AMBXICAN II{SUnAI{CB @MPANY coryorations of the
commoN,Ealth of Penffyhania. do each hereby.lnsdtute and appoift Shaleen R. Lovitt and AnSela R. Yanofsky of Phoenix, Arizona; John J. Browning, Janet
M. Elwell, Kelli E. Housworth, Susan J. Lattarulo, Sheila J. Montoya and Justin Tomlin of Denver, Colorado -----
each as rheir rrue and la*fuI Anomey-in-Fact to execure under such delignation in their names and to afrx their corporate s€als to and deliver for and on their behaf as surety
rhermn or otherwis€, bond! and mdenalings and other writings obligatory in the nature thereof (other than bail bonds) given or exeoraed in $e cours€ of business, and any
instruments amending or altering the same, and consents to the modlffcation or alteration of any inslrument refened to in said bonds or obligations.
In C/lrDcss Wh.reof, said FBDR I II{SUnTNCB COI!.IP NY, VIGIIIINT INSIJRANCB @MPANY, PACmC INDBMMTY COIIPAI{Y. WBSTCHBSTER FIRB INSIJR.ANCB
COXP NY and AG AUBXJCAN INSUA NCts @l{P NY have each executed and an€i€d th€s€ pre.€nts and affred their mrporate seals on this,ld day ofl{ov€rdrcr, Z}19.
+r"-t(--,Durr:r'-rrr. eNICI Ef
lnvo \l ( hl.,i,^ \\\r\r.rrr I s(tr d. rrl
\otand Seal
:rq\hdr \l ll'ro!1 \ rt lt!*dlllL
STATE OF NEWJERSEY
courtyofHunterdon ss
On this 46 day ofNoveDbcr,2Ol9, b€fore m€, a Not!ry tublic of Newjersey, pcrsonaly came Dawn M. ChlorG and Slephen M. Haney, to me lroEn to be Assi$ant Secretary and
Vlce President, respecdvely, of FBDf,RAL INSURANCE COMPAIIY, llCIl,ANT INSURANCE COMPAI\Y, PACIFIC INDEMNIry COMPANy, WESTCHESTER FIRE INSIJRANCE
CoMPAM and AG AMERIC N INSURANCt mMPANY, the companies which ex€orted the foregoing Power of Attomey, and the said DaE1| M. Chloros and Stephen M. Haney,
beinS by me duty swom, s€venty and each for hers€tr and hirnsef did depce and say thal they arE Assbtant S€sEtary and Vrce Presi{tenl respectiveh of FEDERAL INSURANCE
COMPA]\Y, VIGILANT NSURANCE COMPA\ry, PACIFIC INDEMNTY MMPANY, WISTCHESTER FIRE INSTJRANCE CoMPANY and ACE AMERICAN INST.IRANCE COMPANY and
know the corporate s€als th€r€ol that the seals affxed to the foregoing Power ofAttomey are sudr corporate seals and were thereto affxed by authority ofsaid Comparfes; and
that their signatures as such officers were duly aftxed and subscrib€d by lite authority.
KAT}IERINE J.
'DErJlAFiNoTARY PUBLIC OF NE:W JERSEY
No 23166€5Cmis6 ErpG. Jliy 16 2024
CBRTIFICATION
Resolutions adopted by the Boads of DirectoN ofFEDERAI INSURANG COMPATIY,I'IGILANT INSURANCE COMPANY, and PACXFIC INDEMNTY COMPANY on AWUst 30,2016r
WESTCIIESTER FIRE INSUR.ANG COMPANY on D€cember [, 2006: and ACE AMERICAN INSURANCE CoMPANY on March 20, 2oog
enteEdintolntheordrrryoueofbuslrc(eacha"wnt&nConu dEna}
(r) E ch of rhe Chanma,L the Prsiddr dd th. Vie PrBIdsa of the Compary ls h4by authonzd to qote arry wn$en CoImiEreDt for ard or behaf of the Comp.nn und6 the
sal ofthe Comp.rry or orl'.Bi*.
(a Ficn.hny apFiffEd anorneyir-f.d ofthe Couparry 15 horty autlDrlr4d & ereote ay wnneD C.mitJMt for ud on beldfofdE C.m!6ny, urxl€r the *al ofthe Compar,y or
orhe ri*,torheexre dEr $dr adion ls ruthori4d !y DeSIant ofpoteeB pro!,tded fo. in $ch FMntsrirten.ppoinm€ e$chenomey-,r-h.a
C) rach of the Chaima tlE PrEsidmr ard Ue \.ice MdenE of thecompanybheEby.urhorlr2d,formdon behafofthe Company, toappointh*rttlng dy p€rson the acor,ey-
in'f.d of rhe ComFny rith tuI po*r od authofty to d6!te, for and on belEfofthecompary, uds the sal of rhe Compary or oth@is. sch wntr6 Comr trttots of the
Conpany .3 ry b. sp.dned in $ch wn!.n appoinuEnl wl dr sP.dnat@ nBy tE bt gdEBl tlD. d das of wntro Commitmtrs or B slededd of me o. mE FnjNld
Wntt.n Comnirne.E.
(4) Fich of UE Chainnar', rhe P.estdenr and rhe vie PBideDu of rhecompanyli hercbyauthorlad,fGudonbehafofrhe company,to deletate !rvndnatoeyorh.romcsofrhe
compeny the authodty to q@r., for and oD belBlf of the ConlEny, uds the Coqu/s seal or othrytse, slch wntEn ComiEEnts of rlE CoDpany 4 e sFdned in $d!
sittar delegado(wt'idr sFdncadon my b. t, 8E f:l rtFor ct sof Written C.mitrEnrs or byQ.dnedon of one d mE FniorLrwririo Comjtmdti
(5 The ligrtsru. olany om@ or othq FMn sotin8 any written CorrnidrEnt or ap@inthe or dele€aton puMt to rht RshnoIL and th€ *a] of $e Coopony. ruy be a8aed by
66lmile on flrch wnmn ComitrD€nt d Mitr6.ppolnme ord.l.8atim,
th. Company, and srch Rshrion s&n nor ltdr or othqsbe afeo rh. s6clE of ey qdr Do*q o. auth@iy o0!@i* idjdly Snnred G Br.d.'
I, Dawn M. Chloro6, Assistant Secretary of FEDEML INSURANCE mMPAlry, IICIIANT INSIJRANG mMPANY, PACIIIC INDEMNITY mMPANry, WESTCXTESTER FIR!
INSURANCE COMPANY and ACE AMERICAN INSURANCE qOMPANY (the 'Companies") do hereby cert8 that
(i) the foregoing R6olutior5 adopted by the Eoard ofDirectors of the Compani6 are true,
nuary 1
correct and in tull force and efrect
4,2020
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BOIIO OR NOTIFA US OF A,T'Y O1]]I:R MATTER, PLf,AsE CONTACI US ANIN THE EVENT YoU IvIsH ,Ip !ts*IEi1IIE
903.3656
Combin6d: FEO-VIG-PI-WFIC-AAIC (ev. l1'19)
(ii)
16.A.7.b
Packet Pg. 571 Attachment: Bond Basis (28731 : Excavation Bond Release - Magnolia Pond Residences)