1687 Airport Prop Investors3AM.F;'3ANNE 1,AORSE, SBANOLE BOUNTY CLERK Or CfR UIT COURT 8, COMPTROLLER
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Water And Sewer Facility Maintenance Agreement
(For Use With Cash Bond)
This Agreement is made and entered into this 22nd day of September, 2014
between Airport Property Investors, LLC hereinafter referred to as "PRINCIPAL" and
the CITY OF SANFORD, a municipality of the State of Florida (hereinafter referred to as
the "CITY "), whose address is 300 North Park Avenue; Sanford, Florida 32771.
Witnesseth:
Whereas, the PRINCIPAL has constructed certain water and sewer facility
improvements including lines, pipes, pumps, and related facilities and other
appurtenances, in that certain subdivision descri ed as Parcel ID# 35-19-30- 300 -019B-
0000 a Plat of which is recorded in Plat Book AV Pages Itd ,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 June 25, 2014, (as subsequently revised
or amended) and filed with the CITY; and
Whereas, the 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 September 22, 2014, and
Whereas, to guarantee performance of said obligations by the PRINCIPAL,
PRINCIPAL has obtained and furnished to the CITY, (cash/Certified Check/ Money
Order) in the sum of Eleven Thousand, Three Hundred Twenty -Seven DOLLARS and
Twenty -Two CENTS ($11,327.22) (in U.S. currency).
Now, Therefore, the CITY, agrees to accept the above referenced sum as security
for the maintenance obligation of the PRINCIPAL.
The PRINCIPAL, its heirs, executors, successors and assigns, jointly and
severally agrees to be held and firmly bound to the CITY in the sum of Eleven Thousand
Three Hundred Twenty -Seven DOLLARS and Twenty -Two CENTS ($11,327.22) on the
condition that, if the 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 September 22. 2014, then this
obligation shall be null and void, otherwise it shall remain in full force and effect.
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.
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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, legal and contingent 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, legal and contingent 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.
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Attest: ,A S4nf6ri
e-g h y, City Clerk t pl t 1VIa
Approved as to form and legal sifei�
i iam L. Colbert Ci y Att ey
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