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• (71 E
CONSTRUCTION,MAINTENANCE AND ESCROW AGREEMENT FOR
SUBDIVISION IMPROVEMENTS-(INFRASTRUCTURE)
THIS AGREEMENT entered into this 36' day of August, 2005 by Buckstone Estates,
LLC, a Florida limited liability company (hereinafter "Developer"), THE BOARD OF
COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA (hereinafter the "Board"),
and Orion Bank, a Florida banking corporation(hereinafter"Lender").
RECITALS ORIGINAL
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: Black Bear Ridge.
B. The subdivision will include certain improvements which are required by Collier
County ordinances, as set forth in a site construction cost estimate ("Estimate") prepared by Q.
Grady Minor & Associates, P.A., 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 10.02.05 and 10.02.04 of the Collier County Subdivision Code Division
of the Unified Land Development Code require 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 June
2, 2005 (the"Construction Loan")to fund the cost of the Required Improvements.
E. Developer and the Board have acknowledged that the amount Developer is
required to guarantee pursuant to this Agreement is THREE MILLION FIFTY-SEVEN
THOUSAND NINE HUNDRED SIX AND 50/100 DOLLARS ($3,057,906.50), 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
Required Improvements, to be constructed pursuant to specifications that have been approved by
the Development Services Director within 12 months from the date of approval of said
subdivision plat.
2. Developer hereby authorizes Lender to hold THREE MILLION FIFTY-SEVEN
THOUSAND NINE HUNDRED SIX AND 50/100 DOLLARS ($3,057,906.50) from the
Construction Loan, in escrow, pursuant to the terms of this Agreement. The ctur-eat,Orion Bank
account number for this account is 8500006690.
3. Lender agrees to hold in escrow THREE MILLION FIFTY-SEVEN
Ats-4- cUe_S iduzi+
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Black Bear Ridge-Phase I Budget
Off-site Improvements (PRISTINE DRIVE)
%PROGRESS BUDGET
Site Work Quantity Unit Price Total AS OF 9-15-08 CONSUMED
I Clearing and Grubbing 2 AC $3,500.00 $7,000.00 100% $7,000.00
2 Silt Fence 2,800 LF $1.50 $4,200.00 100% $4,200.00
3 Fill 8,500 CY $9.00 $76,500.00 100% $76,500.00
4 Final Grade 1 LS $6,500.00 $6,500.00 100% $6.500.0
5 Valley Gutter 2,700 IF $5.50 $14,850.00 100% $14,850.00
6 8"Limerock Base(compacted and primed) 4,800 SY $7.50 $36,000.00 100% $36,000.00
7 12"Stabilized Subgrade 5,750 SY $2.25 $12,937.50 100% $12,937.50
8 3"Asphalt 4,800 SY $8.50 $40,800.00 60% $24,480.00
9 Signing&pavement markings 1 LS $6,500.00 $6,500.00 0% $0.00
10 Sodding 5,800 SY $1.50 $8,700.00 0% 50.00
11 5'Wide Concrete Sidewalk 1,500 SY $26.50 $24,750.00 0% $0.00
12 4"Limerock(under sidewalk) 1,500 SY $4.50 $6,750.00 0% $0.00
13 Maintenance of Traffic 1 LS $2,500.00 $2,500.00 100% $2,500.00
Sub-total $247,987.50 1
Vanderbilt Beach Road Intersection
Improvements *midi Unit Price Total
I Turn Lanes Complete(WB Rt,EB II) 2 LS $40,000.00 580,000.00 0% $0.00
2 Signalization 1 LS $230,000.00 $130,000.00 0% $0.00
3 Side Drain Drainage(4 DBI,ABL nm 36") 1 LS $35,000.00 $35,000.00 100% $35,000.01)
4 Lighting 1 LS $25,000.00 $25,000.00 0% $0.00
Sub-total .- $270,000.00
Sanitary Sewer Quantity Unit Price Total
1 8"PVC Force Main(C-900 Class 200) 1,400 LF $20.00 $28,000.00 100% 528,000.00
2 8"Plug Valve w/Box 2 EA $1,380.00 $2,760.00 100% $2,760.00
3 Hot Tap Future 16"Force Main on VBR I LS $5,500.00 $5,500.00 100% $5,500.00
Sub-total $36,260.00
_ Water Main Quantity Unit Price Total
Hot Tap Existing 30"Reinf Cone Water Main
1 , (or alt=jib and tap new prop 24"wm) 1 IS $35,000.00 535,000.00 100% $35,000.00
2 12"PVC Water Main(CL 200) 1,400 IY $25.50 535,700.00 100% $35.700.00
3 12"Gate Valve wBox 2 EA $1,500.00 $3,000.00 100% $3,000.00
4 Fire Hydrant(Complete Assembly) 2 EA $2,400.00 $4,800.00 100% $4,800.00
5 Permanent Bacterial Sample Point I EA $1,000.00 $1,000.00 100% $1,000.00
6 Temporary Bacterial Sample Point 1 EA $900.00 $900.00 100% $900.00
7 Air Release Valve 2 EA $1,550.00 $3,100.00 100% $3,100.00
Sub-Total $83,500.00
Drainage •want' Unit Price Total
I Control Structure 1 EA $4,000.00 $4,000.00 100% $4,000.00
2 15"RCP 100 LF $23.00 52,300.00 100% $2,300.00
3 18"RCP 350 IF $25.00 $8,750.00 100% 58,750.00
4 24"RCP 1,200 LF $34.00 $40,800.00 100% $40,800.00
5 Valley Gutter Throat Inlet 6 EA $2,000.00 $12,000.00 100% $12,000.00
6 Grate Inlet 4 EA $1,700.00 $6,800.00 100% $6,800.00
7 Junction Box 8 EA $1,850.00 514,800.00 100% $14,800.00
8 15"Flared End Section 1 EA $900.00 $900.00 100% $900.00
Sub-Total $90,350.00
Off-SiteTotals 5728,097.50 59% $430.077.50
9/15/2006
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