1207-Continental 209 Fund Water-SewerPRIVATE WATER AND SEWER FACILITY MAINTENANCE AGREEMENT
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(For use with cash bond)
THIS AGREEMENT is made and entered into this I I ) Mday of 0 �'Db�/N, 2007,
between CONTINENTAL 209 FUND LLC, a Wisconsin limited liability company,
whose address is W134 N8675 Executive Parkway, Menomonee Falls, Wisconsin,
53051, hereinafter referred to as "PRINCIPAL" and CITY OF SANFORD, a
municipality of the State of Florida (hereinafter referred to as the "CITY "), on behalf of
all purchasers of lots within subdivision.
WITNESSETH:
WHEREAS, PRINCIPAL has constructed certain water and sewer facility
improvements including lines, pipes, pumps, and related facilities and other
appurtenances, in that certain subdivision described as Rinehart Road Commercial, as
recorded in Plat Book 73, Pages 2, 3 & 4, Public Records of the City of Sanford, Florida;
and
WHEREAS, the aforesaid water and sewer facilities and improvements were
made pursuant to certain plans and specifications dated on March 12, 2007 and approved
by the City of Sanford Engineering Department on April 9, 2007 and by the City of
Sanford Utilities Department on April 10, 2007, (as subsequently revised or amended)
and filed with the CITY; and
WHEREAS, PRINCIPAL is obligated to protect the CITY against any defects
resulting from faulty materials or workmanship of said water and sewer facilities and
improvements and to maintain said improvements and facilities for a period of three (3)
years from b c}U�er 'ZL4 a 2007 and
WHEREAS, to guarantee performance of said obligations by PRINCIPAL,
PRINCIPAL has obtained and furnished to the CITY, cash in the sum of ONE
THOUSAND NINE HUNDRED EIGHT DOLLARS AND 58/100 ($1,908.58) (in U.S.
currency).
NOW, THEREFORE, the CITY, agrees to accept the above referenced sum as
security for the maintenance obligation of the PRINCIPAL.
PRINCIPAL, its heirs, executors, successors and assigns, jointly and severally
agrees to be held and firmly bound to the CITY in the sum of ONE THOUSAND NINE
HUNDRED EIGHT DOLLARS AND 58/100 ($1,908.58) on the condition that, if
PRINCIPAL shall promptly and faithfully protect the CITY against any defects resulting
from faulty materials or workmanship of the aforesaid water and sewer facilities and
improvements and maintain said water and sewer facilities and improvements for a
period of three (3) years from Q ck -- 2(o , 20 , then this obligation shall be null
and void, otherwise it shall remain in full force and effect.
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The CITY shall notify the PRINCIPAL in writing of any defect for which the
PRINCIPAL is responsible and shall specify in said notice a reasonable period of time
within which the PRINCIPAL shall have to correct said defect.
Should the PRINCIPAL fail or refuse to perform or correct said defects within the
time specified, the CITY shall be authorized, but shall not be obligated, to take over and
perform, or cause to be performed, such work as shall be necessary to correct such
defects, and shall be authorized to utilize the cash sum stated above to pay the cost
thereof, including, but not limited to, engineering and legal costs. Further, the CITY, in
view of the public interest, health, safety, welfare and other factors involved, and the
consideration in approving and filing the said Plat shall have the right to resort to any and
all legal remedies against the PRINCIPAL, both at law and in equity, including
specifically, specific performance, to which the PRINCIPAL unconditionally agrees.
The PRINCIPAL further agrees that the CITY, at its option, shall have the right to
correct said defects resulting from faulty materials or workmanship, or, pursuant to
receipt of bids, cause to be corrected any defects or said defects in case the PRINCIPAL
shall fail or refuse to do so, and, in the event the CITY should exercise and give effects to
such right, the Principal shall be obligated hereunder to reimburse the CITY the total cost
thereof, including, but not limited to, engineering and legal costs, together with any
damages, either direct or consequent, which may be sustained on account of the failure of
the PRINCIPAL to correct said defects.
This Agreement and all rights hereunder may not be released or assigned without
the written consent of the City of Sanford.
IN WITNESS WHEREOF, the parties to this Agreement have caused their
names to be affixed hereto by the proper officers thereof.
Signed, sealed and delivered
in the presence of:
CITY OF SANFORD
SEMINOLE COUNTY, FLORIDA
Attest:
i.Jan Dougherty, City Cle
Linda Ku An, Mayor
Date:
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PRINCIPAL: CONTINENTAL 209 FUND
LLC, a Wisconsin limited liability company
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By: CONTINENTAL PROPERTIES
COMPANY, INC., a Wisconsin
corporation
Daniel J. Minahar P sident