1156-Gateway Acquisition, LLC - Agrmnt to Complete Rdiaaalaaaaaraa lraalaaa�aaramnniiaiiinotiiaN
c �r� , —��
X f`
S
AGREEMENT TO COMPLETE ROAD rn
t . N' in
f Agreement made by and between GATEWAY ACQUISITION, LLC, a Florida limited rW
p 0 liability company, hereinafter referred to as the "Developer ", whose address is 541 N. 1:"
(V „ ^`� Palmetto Ave., Suite 105, Sanford, FL 32771, and CITY OF SANFORD, hereinafter referred •x, m
` E to as "City" whose address is 300 N. Park Ave., Sanford, FL 32771. This agreement shall n
D d sometimes hereinafter be referred to as the "Contract ". A facsimile copy of this �*�
L Contract and any signatures thereon shall be considered for all purposes as originals.
' n
c o RECITALS ' 0
L
A. Developer is the developer of the project known as "Gateway at Riverwalk"
- hereinafter referred to as "Gateway ". c.
--u
, B. The engineering plans and final plan for Gateway, that have been approved by the
[p
`a City, February 12, 2007, hereinafter referred to as the "Engineering Plans ", call for the
construction of a road named Myrtle Avenue, sometimes hereinafter referred to as the "Road" m
�- as delineated on the Final Plat and Engineering plans.
C_
F,
C. Developer and City have agreed that the construction of the Road will begin on or
before January 1, 2012.
Z
-1
h
D. It is the purpose of this Agreement to clearly set forth the understanding and
agreement of the parties concerning the matters contained herein.
5 M M Now Therefore, in consideration of the matters described above, and of the mutual
p s u- 9 benefits and obligations set forth in this agreement, the parties agree as follows: CP
Cn
kJ d - J CO
�
u 4 1. The parties acknowledge that the above recitals /preambles are true and correct and N
incorporate them herein by this reference thereto. C�
F CD
2. Developer shall begin construction of the Road on or before January 1, 2012 and a
complete the Road within six months of beginning completion. The road shall be built as per
the Engineering Plans for Gateway.
3. Obligations. Should the Developer fail to undertake and complete its obligations as 0
d described in this Agreement, to the City's specifications, then the City shall give the Developer `3
thirty (30) days written notice to commence and 180 days to complete said required obligation. ;
If the Developer fails to complete the obligations within the 180 day period then the City,
without further notice to the Developer at 541 N. Palmetto Ave., Suite 105, Sanford, FL 32771,
or its successors in interest, may, without prejudice to any other rights or remedies it may
have, perform any and all of the obligations described in this Agreement. Further, the City is
hereby authorized to assess the actual and verified cost of completing the obligations required
under this Agreement against the Subject Property. There are no liens or mortgages on the
property. Notice to the Developer and its successors in interest shall be deemed to have been
—1—
given upon the mailing of notice to the above - mentioned address.
6. Enforcement. In the event that enforcement of this Agreement by the City becomes
necessary, and the City is successful in such enforcement, the Developer shall be responsible
for all costs and expenses, including attorneys' fees whether or not litigation is necessary and if
necessary, both at trial and on appeal, incurred in enforcing or ensuring compliance with the
terms and conditions of this Agreement which costs, expenses and fees shall also be a lien upon
the Subject Property superior to all others. Should this Agreement require the payment of any
monies to the City the recording of this Agreement shall constitute a lien upon the property for
said monies, until said are paid, in addition to such other obligations as this agreement may
impose upon the Subject Property and the Developer. Interest on unpaid overdue sums shall
accrue at the rate of eighteen percent (18 %) compound annually or at the maximum rate
allowed by law.
7. Indemnification. The Developer and its assigns and successors in interest shall
indemnify and hold harmless the City from and against all claims, demands, disputes,
damages, costs, expenses (to include attorneys' fees whether or not litigation is necessary and if
necessary, both at trial and on appeal), incurred by the City as a result, directly or indirectly,
of the use or development of the property described in Paragraph 2 above, except those claims
or liabilities caused by or arising from the gross negligence of the City, or its employees or
agents. It is specifically understood that the City is not guaranteeing the appropriateness,
efficiency, quality or legality of the use or development of the Subject Property, including, but
not limited to, drainage or sewer plans, fire safety, or quality of construction, whether or not
inspected, approved, or permitted by the City.
8. This Contract shall be binding on the Developer and its successors and assigns.
(End of text; signature page(s) follow)
IN WITNESS WHEREOF, the parties hereto have executed this Contract intending to
be bound thereby.
Witnesses-
GATEWAY ACQUISITION, LLC
B ID n i e � meJ i n !q
—2—
c
(As to Developer) , as its Manager
541 N. Palmetto Ave.
Suite 105
Sanford, FL 32771
Dated Fe brw ar�( 1 , 2007.
STATE OF FLORIDA
COUNTY OF SEMINOLE
CITA4W SANFORD
By:
As its � ✓) - b�ce� �-I �Y✓ti� . �Q
P.O. Box ff78 `
Sanford, FL 32771.
Dated: - Z-0 , 2007.
I HEREBY CERTIFY that on this day, before me, an officer duly authorized to
administer oaths and take acknowledgments, personally appeared DANIEL MEDINA, well
known to me to be the Manager of GATEWAY ACQUISITION, LLC, a Florida limited
liability company, and the person described in and who executed the foregoing instrument and
he acknowledged executing the same in the presence of two subscribing witnesses freely and
voluntarily under authority duly vested in her by said corporation.
H-
WITNESS my hand and official seal in the County and State last aforesaid th' 'r
day of , 2007.
(Affix Notary Seal) = Notary- Public; Stal
Print Name:
RON SEMANS
MY COMMISSION # DD 566255
f1 �' EXPIRES: August 27, 2010
Banded Thru Notary Public Underwriters
STATE OF FLORIDA )
COUNTY OF SEMINOLE )
I HEREBY CERTIFY that on this day, before me, an officer duly authorized to
administer oaths and take acknowledgments, personally appeared t� C-51 gS; tLj ,
well known to me to be the the CITY OF SANFORD, a Florida
municipal corporation, and the perso described in and who executed the foregoing
—3—
instrument and the above named person acknowledged executing the same in the presence of
two subscribing witnesses freely and voluntarily under authority duly vested in said person by
said City.
WITNESS my hand and official seal in the County and State last aforesaid this (�
day of Fe bCu , 2007.
(Affix Notary Seal)
per Ma y L Muee
My C
OnV pp211344
X J V Expires August 04, 2007
I
No ary blic; ate of FL
Print N e•
—4—
c