1134-Levitt and Sons of Seminole CountyC� -113y
` � ( PERFORMANCE BOND (Roads)
c al 12 -1 & �V L Bond No. 1017 551
KNOW ALL MEN BY THESE PRESENTS:
That we, Levitt and Sons of Seminole County, LLC, hereinafter
called the "Principal" and Lexon Insurance Company a surety company
authorized to do business in the State of Florida, hereinafter
called "Surety" are held and firmly bound to the city of Sanford, a
political subdivision of the State of Florida, in the full and just
sum of $(1,376,443.20 lawful money of The United States of
America, to be paid to the city of Sanford of Seminole County, to
which payment well and truly to be made, we bind ourselves, our
heirs, executors, administrators, successors, and assigns, jointly
and severally, firmly by these presents.
WHEREAS, the above bounded Principal has a condition precedent
to the approval by the City of Sanford of a plat of a certain
subdivision known as The Reserve at Sanford has covenanted and
agreed with the city of Sanford to construct roads, streets and
other associated improvements based upon development plans and plans
and specifications being dated 29 day of November 2005 and being
on file with the City of Sanford, Seminole County, Florida, and
WHEREAS, it is a condition precedent to the recording of said
subdivision that this bond be executed:
NOW THEREFORE, the conditions of these obligations are such
that if the bounden Principal shall construct the aforesaid
improvements in accordance with any date prescribed in the approved
development plans and plans and specifications dated the 29 day of
November 2005 or within two (2) years of the date of approval,
whichever occurs first, and shall in every respect fulfill its, his,
their obligations under the development plans and specifications,
and shall indemnify and save harmless the City of Sanford against or
from all claims, costs, expenses, damages, injury, or loss,
including engineering, legal and contingent costs which the City of
Sanford may sustain on account of the failure of the Principal to
perform in accordance with the development plans and specifications
with the time therein specified then this obligation to be void;
otherwise to be and remain in full force and virtue.
The Surety unconditionally covenants and agrees that if the
Principal fails to perform all or any part of the construction work
required by the developments plans and specifications above referred
to, within the time specified, the Surety upon forty -five (45) days
written notice from the City of Sanford, or its authorized agent or
officer, of the default, will forthwith perform and complete the
aforesaid construction work and pay the cost thereof, including, but
not limited to engineering, legal and contingent costs. Should
the Surety fail or refuse to perform and complete the said
i_
Performance Bond
Page 1
improvements, the City of Sanford, in view of the public, interest,
health, safety and welfare factors involved and the inducement in
approving and filing the plat, shall have the right to resort to any
and all legal remedies against the Principal and the Surety, or
either, both at law and in equity, including specific performance,
to which the Principal and Surety unconditionally agree.
The Principal and the Surety further jointly and severally agree that
the city of Sanford, and its option, shall have the right to construct or,
pursuant to public advertisement and receipt of bids, cause to be
constructed the aforesaid improvements in case the Principal should fail or
refuse to do so. In the event the City of Sanford should exercise and give
effect to such right, the Principal and the Surety shall be jointly and
severally liable hereunder to reimburse the City of Sanford the total cost
thereof, including, but not limited to, engineering, legal and contingent
costs, together with any damages, either direct or consequential, which may
be sustained on account of the failure of the Principal to carry out and
execute all the provision of said agreement.
IN WITNESS WHEREOF, the Principal and the Surety have executed these
presents this 12 day of April, 2006.
LEVITT AND SONS OF SEMINOLE COUNTY, LLC
7777 Glades Road
Boca Raton, FL 33434 By:
Harry T. eek, Sr. Vice President
Attest:
Alfred G. Wes Vice President
Lexon Insurance Company
10002 Shelbyville Road �
Louisville, KY 40223 By: 2'/�ifiL�
Sandra F. Harper, Attorney -in -Fact
Attest:
Myrtle F. Henry
Performance Bond
Page 2
POWER OF ATTORNEY
Lx- 23893
Lexon Insurance Company
KNOW ALL MEN BY THESE PRESENTS, that LEXON INSURANCE COMPANY, a Texas Corporation, with its principal office in
Louisville, Kentucky, does hereby constitute and appoint:
John B. Manus Mary E. Joseph, Tammy Masterson Brook T. Smith Kathy Hobbs, * * **
Raymond M. Hundley, Jason D. Cromwell, James H. Martin, Sandra F. Harper, Myrtie Henr Julie Radican, Virginia E. Woolridge * * * * * * **
its true and lawful Attorney(s) -In -Fact to make, execute, seal and deliver for, and on its behalf as surety, any and all bonds, undertakings or
other writings obligatory in nature of a bond.
This authority is made under and by the authority of a resolution which was passed by the Board of Directors of LEXON
INSURANCE COMPANY on the 1st day of July, 2003 as follows:
Resolved, that the President of the Company is hereby authorized to appoint and empower any representative of the Company or
other person or persons as Attorney -In -Fact to execute on behalf of the Company any bonds, undertakings, policies, contracts of indemnity
or other writings obligatory in nature of a bond not to exceed $2,500,000.00, Two - million five hundred thousand dollars, which the Company
might execute through its duly elected officers, and affix the seal of the Company thereto. Any said execution of such documents by an
Attorney -In -Fact shall be as binding upon the Company as if they had been duly executed and acknowledged by the regularly elected
officers of the Company. Any Attorney -In -Fact, so appointed, may be removed for good cause and the authority so granted may be revoked
as specified in the Power of Attorney.
Resolved, that the signature of the President and the seal of the Company may be affixed by facsimile on any power of attorney
granted, and the signature of the Vice President, and the seal of the Company may be affixed by facsimile to any certificate of any such power
and any such power or certificate bearing such facsimile signature and seal shall be valid and binding on the Company. Any such power so
executed and sealed and certificate so executed and sealed shall, with respect to any bond of undertaking to which it is attached, continue
to be valid and binding on the Company.
IN WITNESS THEREOF, LEXON INSURANCE COMPANY has caused this instrument to be signed by its President, and its
Corporate Seal to be affixed this 2nd day of July, 2003.
�RANC LEXON INSURANCE COMPANY
TEXAS �
>,- INSURANCE :z
U1, � COMPANY � .� BY
David E. Campbell
�•• President
ACKNOWLEDGEMENT
On this 2nd day of July, 2003, before me, personally came David E. Campbell to me known, who being duly sworn, did depose and
say that he is the President of LEXON INSURANCE COMPANY, the corporation described in and which executed the above instrument; that
he executed said instrument on behalf of the corporation by authority of his office under the By -laws of said corporation.
FFIAL SEAL"
w�µ�� OCILYDWJ.DEJONG
NOTARY PUBLIC STATE OF ILLMOIS
MY COMMISSR EXPIRES 1/1� ?12� 007 �L .
Lydia J. DeJong
CERTIFICATE Notary Public
I, the undersigned, Secretary of LEXON INSURANCE COMPANY, A Texas Insurance Company, DO HEREBY CERTIFY that the
original Power of Attorney of which the foregoing is a true and correct copy, is in full force and effect and has not been revoked and the
resolutions as set forth are now in force.
Signed and Sealed at Lombard, Illinois this I Day of / , 20 06
�S 3RANCF �O
A
0: TEXAS • 1�0
X INSURANCE > i
Wj COMPANY
Donald D. Buchanan
Secretary
WORK SCHEDULE
CONSTRUCTION MANAGER LEvnT CONSTRUCTION EAST LLC
CONTRACTOR NILE UNDERGROUND INC.
PROJECT RESERVE AT S ANFORD DATED: V15106 ADDENDUM: One
Page 8 of 14
5.0
CONTRACT PRICE
5.1 The Contractor acknowledges that he has visited the site, thoroughly reviewed the
drawings, specifications topography and soils conditions and agrees to perform all
work for the price of $1,726,832.19.
Earthwork
$450,000.00
Storm Drainage
$170,000.00
Sanitary Sewer
$235,000.00
d k
Reclaim Water
$79,000.00�k��
Water and Fire
$210,000.00
3 i 2 • ° J
`r
Paving, Base, Curb
$406,000.00
Handicap Ramps
$29,250.00
90 .
Sidewalks $82,062.50 0V
Engineering ,Change Cost Evans 12/14/05) $40,000.00
Sub Total $1,701,312.50
Performance Bond (1.5 %)
Grand Total
.t
$1,726,832.19
5.2 Contractor will be responsible for the cost of all licenses and dewatering permits
necessary for the completion of work covered by this contract.
5.3 Sod will be billed per square foot and price not to exceed $.23 per square foot.
5.4 Removal of unsuitable material not to exceed $I2.00 per cubic yard to excavate
and replace with select fill.
PAYMENT
6.1 Once each month, the Contractor may submit a request for payment to the
Construction Manager's engineer based on the percentage of work completed.
CONTRACTOR:
NILE UNDERGROUND TECHNOLOGIES, INC.
LLC
Tim Dennard, ent
CONSTRUCTION MANAGER:
LEVITT CONSTRUCTION EAST,
December 18, 2006
David Ouellette
Levitt & Sons, LLC
12124 High Tech Avenue, Ste. 290
Orlando, FL. 32817
Re: Reserve at Sanford — Performance Bond #1017551
Dear David:
Enclosed is the referenced performance bond submitted to the City
of Sanford. The performance bond was required in order to allow
the plat to be recorded prior to the installation of all required
infrastructure.
The City of Sanford has inspected and approved all required
infrastructure for The Reserve at Sanford. Therefore, the enclosed
performance bond is being released back to Levitt and Sons, LLC,
in exchange for the required maintenance bonds that will provide
coverage for the next three years.
If you have any questions, you may contact my office at (407) 330-
5652.
Sincerely,
David L. Richards
Planning Engineer
cc: Cynthia Porter, Deputy City Clerk
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WRITTEN CONSENT
OF
LEVITT AND SONS, LLC
a Florida limited liability company
THE UNDERSIGNED, Levitt and Sons, LLC, a Florida limited liability
company (the "Company "), hereby approves and adopts the following resolutions by this
written consent in accordance with the provisions of the Company's Limited Liability
Company Operating Agreement and the provisions of Florida's Limited Liability
Company Act.
WHEREAS, the Company is the sole member of Levitt and Sons of Seminole
County, LLC, a Florida limited liability company ( "Owner "); and
WHEREAS, Owner is the fee simple owner of the real property legally described
on Exhibit "A" attached hereto and by this reference made a part hereof ( "Property "); and
WHEREAS, the Company approves and consents to the platting of the Property
as is more particularly described on Exhibit "A" and to be known as Reserve at Sanford.
The Company further authorizes the Owner to execute any and all documents,
instruments, consents, affidavits and papers (collectively, the "Platting Documents ")
required or appropriate to effectuate the platting; and
WHEREAS, the Company, wishes to authorize on its own behalf and on behalf
of Owner the contemplated platting.
NOW, THEREFORE, IT IS
RESOLVED, that the platting of the Property described on Exhibit "A" is
hereby APPROVED in its entirety; and it is further
RESOLVED, that Dave Schmitt, Vice President of Development for the
Owner, acting alone, with full power of substitution, be and is hereby
authorized and directed to execute and deliver the Platting Documents on
behalf and in the name of the Owner and the Company, as applicable, such
execution to be conclusive evidence of such officers' approval, and of the
approval of the Company of any and all such modifications, additions and
deletions; and it is further
C
FTL:1766639:1
Page 1 of 3
J
RESOLVED, that the executive officers of Owner and the Company be,
and they are or any one of them is, hereby authorized, empowered and
directed, from time to time, in the name and on behalf of Owner and /or the
Company, as applicable, under its seal, if desired, to execute, make oath
to, acknowledge and deliver, any and all agreements, certificates,
assignments and other documents, instruments and papers and to take or
cause to be taken such steps as they may determine to be necessary,
appropriate or advisable to carry out the intent and purposes of the
foregoing resolutions, such detennination to be evidenced conclusively by
the execution and delivery of such documents and the taking of such steps.
IN WITNESS WHEREOF, the undersigned member has executed these
resolutions this 1:7- day of June, 2006.
LEVITT AND SONS, LLC
By: _. _
Harry Sleek
Title: Sr. Vice President
F FL: 1 766639:1
Page 2 of 3
W9
EXHIBIT "A"
FTL:1766639:1
LEGAL DESCRIPTION OF THE PROPERTY
Page 3 of 3
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Reserve at Sanford
From the intersection of the East line of Section 10, Township 20 South, Range 30 East
with the Southerly line of the Sanford Grant Line. Run N 63 °50'57" W 780.22 feet for a
Point Of Beginning, thence run N 00 °48'53.5" E parallel with the East line of said
Section 10, 813.287 feet to a point on the Southerly boundary line of Hidden Lake Unit
1 -C, according to the Plat thereof as recorded in Plat Book 17, Pages 55 and 56 of the
Public Records of Seminole County, Florida; thence run along the Southerly and
Westerly boundary lines of said Hidden Lake Unit 1 -C as follows, N 89 °11'06.5" W
375.00 feet, North 415.00 feet, West 250.00 feet to a point on the centerline of Loch Low
Drive, according to the Plat of said Hidden Lake Unit 1 -C, thence run North 260.00 feet
to the Northwesterly corner of Block K of said Hidden Lake Unit 1 -C, thence leaving the
boundary of said Hidden Lake Unit 1 -C run N 81'25'52" W 417.39 feet, thence run S
00 0 44'31.5" W 130.00 feet, thence run S 79 °26'50" E 411.38 feet, thence run South 88.34
feet to a point on a curve concave Northwesterly having a radius of 570.00 feet, a chord
and chord bearing of 22.82 feet, S 64 °39'58" W, thence run Southwesterly along said
curve through a central angle of 02 °17'37 22.82 feet to the P.T., thence run S 65 °48'46"
W 65.22 feet to the P.C. of a curve concave Southeasterly and having a radius of 325.22
feet, thence run Southwesterly along said curve through a central angle of 53 °18'23
302.57 feet to the P.T., thence run S 12 °30'23" W 97.61 feet to the P.C. of a curve
concave Easterly and having a radius of 628.43 feet, thence run Southerly along said
curve through a central angle of 13 °21'35" 146.53 feet to the P.T., thence run S 00 °51'12"
E 164.59 feet to the P.C. of a curve concave Northwesterly and having a radius of 245.01
feet, thence run Southerly along said curve through a central angle of 46 °51'15 ", 200.36
feet to the P.T., thence run S 46 °00'03" W 382.45 feet to a point on the East right of way
line of Sterling Pine Street, thence run S 00 °48'31" W, along said East right of way line,
142.28 feet, thence run S 89 °18'27" E 200.00 feet; thence run N 00 °48'31" E 100.00 feet,
thence run S 89 °18'27" E 461.75 feet, thence run S 00 °48'31" W 2.57 feet, thence run S
63 °50'57" E 80.67 feet, thence run N 26 0 09'03" E 183.08 feet to a point on the Southerly
line of the Sanford Grant line, thence run S 63 °50'57" E along said Grant line, 509.14 feet
to the Point Of Beginning.
Contains 23.395 Acres Land & Water