Agenda 12/10/2019 Item #16A21 (Extension - Royal Palm Golf Estates Replat #3)12/10/2019
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 and the associated
subdivision improvements must be completed within 36 months unless an extension is formally requested
and granted by the Development Review Division. The plat has been recorded 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 developme nt
guaranty. The property owner has requested an extension of the approval from September 23, 2019
through September 23, 2021. Therefore, the improvements must receive final acceptance prior to
September 23, 2021, or an additional extension must be requested and approved prior to the new
expiration date. The LDC allows for two, 2-year extensions after the original 36-month approval.
Previous extensions have been granted pursuant to Section 252.363, Florida Statutes as well as the LDC
provision. 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. A new developer is purchasing the vacant Lots
(D.R. Horton) and intends to complete the remaining construction within 24 months.
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: $300.00 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. - SAA
RECOMMENDATION: To approve the extension application for Royal Palm Golf Estates Replat #3
(AR-6774) subject to the recommendations of the Executive Summary of June 14, 2005.
Prepared by: Lucia S. Martin, Associate Project Manager, Development Review Division
ATTACHMENT(S)
1. Location Map (PDF)
2. Construction and Maintenance Agreement (PDF)
16.A.21
Packet Pg. 1815
12/10/2019
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.A.21
Doc ID: 10751
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: 12/10/2019
Prepared by:
Title: Technician – Growth Management Development Review
Name: Lucia Martin
11/04/2019 3:37 PM
Submitted by:
Title: Project Manager, Principal – Growth Management Department
Name: Matthew McLean
11/04/2019 3:37 PM
Approved By:
Review:
Growth Management Development Review Brett Rosenblum Additional Reviewer Completed 11/05/2019 1:26 PM
Growth Management Department Judy Puig Level 1 Reviewer Completed 11/05/2019 3:39 PM
Growth Management Operations & Regulatory Management Rose Burke Additional Reviewer Completed 11/06/2019 3:30 PM
Engineering & Natural Resources Jack McKenna Additional Reviewer Completed 11/06/2019 3:34 PM
Growth Management Development Review Chris Scott Additional Reviewer Completed 11/08/2019 9:14 AM
Growth Management Department Matthew McLean Additional Reviewer Completed 11/08/2019 9:55 AM
Growth Management Department James C French Deputy Department Head Review Completed 11/08/2019 5:23 PM
County Attorney's Office Sally Ashkar Level 2 Attorney Review Completed 11/15/2019 10:18 AM
Growth Management Department Thaddeus Cohen Department Head Review Completed 11/19/2019 5:11 PM
Office of Management and Budget Valerie Fleming Level 3 OMB Gatekeeper Review Completed 11/20/2019 8:07 AM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 11/20/2019 9:07 AM
Office of Management and Budget Laura Zautcke Additional Reviewer Completed 11/20/2019 2:00 PM
County Manager's Office Geoffrey Willig Level 4 County Manager Review Completed 11/25/2019 2:12 PM
Board of County Commissioners MaryJo Brock Meeting Pending 12/10/2019 9:00 AM
16.A.21
Packet Pg. 1816
ROYAL PALM GOLF ESTATES REPLAT #3
LOCATION MAP
16.A.21.a
Packet Pg. 1817 Attachment: Location Map (10751 : 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 $2,148,561.25 which
amount represents 10% of the total contract cost to complete construction plus 100% of
the estimate cost of to complete the required improvements at the date of this Agreement.
3.In the event of default by the Developer or failure of the Developer to complete such
improvements within the time required by the Land Development Code, Collier County,
may call upon the subdivision performance security to insure satisfactory completion of
the required improvements.
'.': 2002\2002133' PLAT RECORDATION\CMA FOR SUI3D!VISION IMPROVEMENTS AS OF 051111.DOC
t_a_) 14) C �
16.A.21.b
Packet Pg. 1818 Attachment: Construction and Maintenance Agreement (10751 : Subdivision Extension - Royal Palm Golf Estates Replat #3)
;l rhe required improvements shall not be considered complete until a statement of
substantiai completion by Developer's engineer along with the final project records have
been fumished to be reviewed and approved by the Development iervices Director for
compliance with the Collier County Land Development Code.
5. The Development services Director shall, within sixty (60) days of receipt of the
statement of substantial completion, either: a) notify the Developir in writing of hispreliminary approval of the improvements; or b) notify the Developer in writing of his
refusal to approve improvements, therewith speciflng those conditions whlch the
Developer must fulfill in order to obtain the Director's ipproval of the improvements.
However, in no event shall the Development ServiceJ Director refuse preliminary
approval of the improvements if they are in fact constructed and submitted ftr approval
in accordance with the requirements of this A$eement.
6. The Developer shall maintain all required improvements for a minimum period of one
year after preliminary approval by the Development services Director. Aftei the one year
maintenance period by the Developer has terminated, the Deveroper shafl petition theDevelopment Services Director to inspect the required improvemenls. The Development
Sen'ices Director or his designee shall inspect the improviments and, il found to be stillin compliance with the collier county Land Development code as reflected by finalapproval by the Board, the Board shall release the remaining l0% of the subdivision
perlormance security. The Developer's responsibility for maintenance of the required
improvements shall continue unless or until the Board accepts maintenun." ,".pon.ibility
lor and by the County.
7. Six (6) months after the execution of this Agreement and once within every six (6)
rnonths thereafter the Developer may request the Development Services Diiector 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 reviiw by the
De'elopment Services Director. The Development Services Director rnuy gruri th"
request for a reduction in the amount of the subdivision performance sec;rit, for the
irnprovements completed as of the date of the request.
8. In the event the Developer shall lail 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
nraintenance 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 ofbids, the improvements required herein. The Developer, as
principal under the subdivision performance security, shall be liable to pay and to
',\ 1002\20021-13\PLAT RECORDATION\CMA FOR SUBDIVISION IMPROVEMENTS AS OF 05I I I I.DOC
16.A.21.b
Packet Pg. 1819 Attachment: Construction and Maintenance Agreement (10751 : 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
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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:
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Title:
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ATTEST:
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Title: Assistant Atto
w:V002U002133\PLAT RECORDATION\CMA FOR SUBDTVISTON IMPROVEMENTS AS OF 051I I LDOC
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16.A.21.b
Packet Pg. 1820 Attachment: Construction and Maintenance Agreement (10751 : 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.21.b
Packet Pg. 1821 Attachment: Construction and Maintenance Agreement (10751 : Subdivision Extension - Royal Palm Golf
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.21.b
Packet Pg. 1822 Attachment: Construction and Maintenance Agreement (10751 : Subdivision Extension - Royal Palm Golf
\
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___.tEAI
----,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.21.b
Packet Pg. 1823 Attachment: Construction and Maintenance Agreement (10751 : Subdivision Extension - Royal Palm Golf
$20,400.00
- $o.oo
$0,s6B.oo
_ - $4,qqq,qq
$o.oo
1
00
$o.oo
660.00
-g0ro
17
736
0
o
0
1 300
24
0
0
1
Daifii,el-
LF
EA
EA
EA
EA
LF
EA
EA
LF
736
10
1 300
17
24
($5 x 121 Ac.)
$150.00
$1,
,911.75
7-,735.26
P re-applicatlon fee
Sub-Total
-TBg,ags.tc
Catch Basin T "c"
Yqll='t Gutter lnlet
no_Ql ryp e'P-6'
Junctiott Box
B" SDR35 PVC Yard Drain
Yard Drain lrtlet
Water Control Structure
3O'' RCP (w99)
Drairrage Swale
coii igq c_9u11 tv Re V iew F ees
Fire
Fir;aoa;Reviaw F;il;soaiaiea with FSP
Subdlvlsiotl
water sewer constructlon costs
sewer
r.tsa, z{l Sc
x [.io
2 t 1"b, dts.l . aS e .{L
q.\"{ln2\2OO2 133\Bovne Sorrtlt Errgitteer's opiniotr of Probable cost.xls
$
-)uq-\
$2,685.00
Sub-Total
acre for$s
ructlon)
on)
16.A.21.b
Packet Pg. 1824 Attachment: Construction and Maintenance Agreement (10751 : Subdivision Extension - Royal Palm Golf
-
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ISSUER: Trsascrpihl Baot 21(x) E liltandafc Bcach Bh/d llalladalo BcU, Ft 3300S (IIERINA"FTER "heu€il).PLACE OF E)(PIRY: At Issua,r comr.
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16.A.21.b
Packet Pg. 1825 Attachment: Construction and Maintenance Agreement (10751 : Subdivision Extension - Royal Palm Golf Estates Replat #3)
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This is an Addend,, to the lrrevocabre standby Letter of credit No. 00{033.
DOCUMENTS REQUIRED: AVAILABIE-BY BENEFTCIARTS DRAFT(S) AT SrGHT DRAWN OFTHE IssuER AI'ID Accor"rpeNr6 gv grllrriblARyls
'TATEMENT
puRpoRTEDLy srcNEDBY TI{E coL'NTY tt{ar'raceR, LennrvrNc-mAt' Naptes corr crul south, LLc, Napres GorfDevelopment' LLc. & xapies -cili'clou ilrh,;c r,* r"il"a 1" "J^truct and/or maintain thetmprovements associated with that certain pruioT u'rJri"tion knowrr-rJ novar, ,ALM G,LFEsrArEs REPLAT #3 or
" fir.,;;',i* il;F&;c;mi;'g;*; iolno, been performed prior to*:#:ilfi:tf;rffi""i'r*t"'v f,tli,"tir" p"o*"i* securiry h* ;i;r; provided ro and formaly
Bank
By:
William E. Himes,
Executive Vice president
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Packet Pg. 1826 Attachment: Construction and Maintenance Agreement (10751 : Subdivision Extension - Royal Palm Golf Estates Replat #3)
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IRREVOCABLE STANDBY LETTER OF CREDIT NO- OO{033
Transca
By:
fhur*rGa1lItEl
Esnk
ISSUER: Transcapital Bank 2100 E Hallandale Beach Blvd Hallandale Bcb Fl 33009 (IIEREINATTER *Issue/)
PLACE OF D@IRY: At Issuer,s counrers.
DATE oF E)eIRY: This credit shall be valid until I0/20l11, and shall thereafter bc autooatically rcnew for succcssive oneyear periods on the anniversarv of.its-issue at r.*t .i*.y fooi a"yrlrill. to uny ,o"rr aut"., tu" t..*, ootin"s the Benefciaryin wdting by regist€red mail ttat the Issu",
"f.rs oor a ao ioiJoc'*'tis credit
APPLICAIT'T: Nrpics Gotf club-so-uth, LLc, Naples Golf Deveioprnenl LLC & Nrples club south, LLC (hereiuafter'Appticatrr,) 7100 W Camiro Rcat # 402, Boca i,aror,iiiilSi.'
V BENEFICIARY: Thc Board ofcounty commissioners, collicr county, Florida (hereinafter.,Beneficiar/,) c/o EngineeringReview Scrvices, 2800 North Horsesh& Drir., N"p;.:ii"-;;3;;;,
AMOIINT: $374,130.95 (U.S.) up to au aggegate thereof.
CREDIT AVAJLABLE WTIII: Issuer.
BY: Payment against documents deta ed herein and Beneficiary,s drafts at sight drawD on the Issuer.
D..UMENT REeUTRED: A,AI-LAB-LE By BENEFI.IAR''. DRAFT(') AT src,T DRA*N oN THE rssuERAND ACCOMPANIED BY BEBEFFTICARY'S STA_TEiAiii P"ridONrPPIY SIGNED BY THE COI.ATYMANAGE& cERTIFyTNc ririAT: Naples coricirll"rii, iicNapres Gorf Deveroprenr LLC & Napres crubsouth' LLC has fai'l€d top constuct,and,/-o.nahtain tb," i;;;ffils associatea with that ccrtain prar of a su*ivisionknown as Napres Golf ctub south, LLC, urpr"r c"rr-nJ"r-op-ilr'ir.r,c c x"ples club sourh; LLc or a finalinspection satisfactory !o co'ier county tas not ucen perrormeiiJo?r" tl" aua" orexpiry, and satisfactory altcrnativcperfomred sccuritv bas not been providid t" -d fo;;u; ;;-t f,i-y il. s*.t.i.ry.-'-l ' -- eE,r*lvr, '
DRAFT(S) DRAWN UNDER TI{I^S-LETETR oF CREDIT MUST BE MARKED: "Drawn urder Transcapitat Bank creditNo. 00-0033, datcd october 20, 2005. Tbe origir"r rrtt"r oi"..rl-I""u ao"u-.ots, ifaDy, must be prc""old fo, p.pocndorscment.
This letter ofcredit sets forttr in full the terms ofthe Issuer's utrdertaking and such undertaking shall not in any way b€modified' amcnded' or ar@lilied bv refer"n"t to "oi ao"r-"iii"ffi;oq o, uscement referenced to hereir or in whichHt#"$:#ifi'""i:t' au<l anv such referc.". .["u-", u"-l#"a*" incorporatc hereir by referencc any docurc ,
Issucr hercby engages with Beneficiary that dra{s) drawu uad, and conryliarc€ B,ith ter,s ofthis letter ofcredit wiu bcduty hoDored by Issuer ifprcscntcct wi-thin the ,"i,itt;;;;^ *' ""'
Pj""#Jr:1-*iil#":""::t&-' Custolcs and Practicc for Docun€ntary credits (1993 Revisiou) Intcmational chamber
WilliamE.Elmes,Presldent &cEo
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Packet Pg. 1827 Attachment: Construction and Maintenance Agreement (10751 : Subdivision Extension - Royal Palm Golf Estates Replat #3)