771-Logan Heights" ~ ': 1999 Atj~ -9 P~I 3:35
Prepared by and return to:
James H. McNeil, Jr., Esquire
Holland & ~ight LLP
200 S. Orange Ave., Suite 2600
Post Office Box 1526
Orlando, Florida 32802
....................................... {SPACE ABOVE FOR RECORDING PURPOSES} ............................
LOGAN_HEIGHTS AGREEMENT
THIS A REEMENT ("Agreement") is made and entered into this da~
, , t ' e '
c., a a i O t p
Inc., Trustee, both whose address is 1011 North Main Street, Suite 6, ~ssimmee,
Florida 34744 (collectively the "Owner"), Vestcor Fund ~, Ltd., a Florida limited
partnership, whose address is 3020 Hartley Road, Suite 300, Jacksonville, Florida~
32257-8205 ("Developer") and the City of Sanford, a municipal corporat~n~
organized and existing under the laws of the State of Florida ("Cit~'), wh~e:
address is Post Office Box 1788, Sanford, Florida 32772-1788.
RECITALS
A. The Developer has proposed to develop certain real property o e~y
the Owner located in the City of Sanford, more specifically described in Exhibit "A"
attached hereto and inco~orated herein (the "Property"). The Developer has the
authority to obtain this Agreement with respect to the Property.
B. The Developer ~led a site plan prepared by Noah Beach Engineering
dated April, 1999 and last revised July 20, 1999 (the "Site Plan") with the City of
Sanford for the development of the Property to be known as Logan Heights
Apartments. The proposed development consists of approximately twenty-two (22)
acres to be developed as a 360-unit multi-family residential development (the
"Project").
1
C. The Property is currently subject to easements in favor of the City of
Sanford as recorded in Official Records Book 1170, Page 619 and Official Records
Book 1170, Page 628, both of the public records of Seminole County, Florida
(collectively, the "Easements").
D. The Developer and Owner previously requested that the City fezone
that certain 5.33 acre portion of the Property which is zoned MR-2 to a zoning
designation of MR-3. The requested rezoning has been reviewed by the City of
Sanford's Planning and Zoning Commission and the City of Sanford's City
Commission, and all public meetings required by the City of Sanford's land
development regulations and State law have been held. The City Commission
approved the rezoning of said property to the MR-3 designation on August 9, 1999.
E. The Site Plan has been reviewed by the City of Sanford's Planning and
Zoning Commission, and all public meetings required by the City of Sanford's Land
Development Regulations and State law have been held, and said Site Plan was
approved with conditions on July 15, 1999.
F. Owner and Developer have previously requested that the Sanford City
Commission vacate and terminate the Easements and any other easements whether
recorded or unrecorded, which are in favor of the City and which encumber t~
Property.
G. On August 9, 1999, the City Commission approved the vacation of t~i~
Easements and any other easements benefiting the City which encumber
Property, and the abandonment of those certain existing water and sewer mam~
located in the Easements and on the Property.
H. The development permitted by this Agreement is consistent with the
City of Sanford Comprehensive Plan and the City of Sanford Land Development
Regulations, (the "Land Development Regulations").
I. Developer has contracted with Owner for the purchase of the Property
Owner and Developer anticipate that the closing on the Property will occur during
the month of September, 1999. The date that the deed conveying the Property to
Developer is executed and delivered shall be considered the closing date (''Closing
Date").
Accordingly, in consideration of mutual benefits and public interest and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, it is hereby AGREED and RESOLVED by the Mayor and the City
Commission of the City of Sanford, Florida, that the Property is allowed to be
developed pursuant to the City of Sanford Land Development Regulations and
subject to the following terms and conditions, with which the Owner, Developer and
the City agree:
1. Recitals. The foregoing recitals are incorporated herein as though fully
set forth below.
2. Development. Pursuant to and consistent with the zoning and Future
Land Use Map designation of the Property, the Developer shall be entitled to
develop 360 multi-family dwellings on the Property in accordance with the approved
Site Plan and all applicable City Codes and the Land Development Regulations.
3. Roads.
a. On the Closing Date, the Owner shall convey to the City by
separate instrument its fee simple interest in the real property
described in Exhibit "B", attached hereto, which said property
shall be utilized by the City for public ingress, egress and utilities
(the "Roadway Property"). Prior to the City's acceptance of said real
property, the Developer shall provide evidence of clear title to same
and the Developer shall provide to the City a Phase I
Environmental Assessment that is satisfactory to the City.
b. Access to the Property will be by Rolling Hills Boulevard z
which will be located as shown on the Site Plan, and which is
wholly contained within the Roadway Property. Developer shall be
responsible for the permitting and construction of Rolling Hills
Boulevard from Lake Mary Boulevard north for approximately 935
linear feet to the point where the entrance of the development will
be located (the "First Segment"), as shown on Exhibit "C" attached
hereto. The remaining portion of Rolling Hills Boulevard as shown
on the Site Plan shall hereinafter be referred to as the "Second
Segment" and "Americana Boulevard" as shown on the Site Plan
shall hereinafter be referred to as the "Third Segment."
c. Upon conveyance of the Roadway Property to the City, final
Construction Plan approvals for the First Segment and required
jurisdictional permits for the First Segment being secured, the City
shall issue to Developer a right-of-way permit so that Developer can
construct the road improvements to be located in the First
Segment.
d. Developer shall be responsible for the cost of designing,
engineering and submitting applications with application fees, to
all applicable jurisdictional entities for the permitting of the roads
to be constructed within the Second and Third Segments; however,
Developer shall not be responsible for the construction of said
roads. The Developer shall design said roads in accordance with the
City's Land Development Regulations and shall address all design
issues including but not limited to; wetland mitigation ratios, storm
water treatment and attenuation, 100-year flood plain compensating
storage, and floodways. Developer shall make good faith efforts to
obtain said permits; however, Developer makes no representation
or warranty as to whether the appropriate governmental entities
shall issue said permits. All conditions provided for in said permits,
including but not limited to wetland mitigation requirements, shall
be the sole responsibfiity of the City.
e. The Developer shah obtain all required inspections from the
City and submit all required documentation (including
maintenance bonds) for all work completed in the rights of way in
accordance with the City's Land Development Regulations. These
roads shall not be opened for use by the general public until a final
Certificate of Completion for said road has been issued by the City.
4. Drainage.
a. Developer shall construct, own and maintain that certain C~
retention pond (the "Pond") located along Rolling Hills Boulevard, c~ -.i ~c
as shown on Exhibit "C". Developer shah design and construct the m ._ c~
Pond so that it will accommodate all the drainage created by the z --
Developer's construction of the First Segment and the future ~ ~'
construction of the Second Segment. The design criteria for the c~ .~
drainage shall meet the City's Land Development Regulations. o -:- c~
Developer shall grant to the City an easement over the Pond area ,- -- m~:~
for said drainage. --
b. On the Closing Date, Owner shall convey to the City by
separate instrument its fee simple interest in the real property
described on Exhibit "D" attached hereto, which said property
may be utilized by the City for a retention pond for the future
construction of Americana Boulevard as shown on the Site Plan.
Prior to the City's acceptance of said real property, the Developer
shall provide evidence of clear title to same and the Developer shall
provide to the City a Phase I Environmental Assessment that is
satisfactory to the City.
5. Utilities.
a. The Developer shall be responsible for the relocation of that
portion of the existing sewer force main currently located north
of Lake Mary Boulevard that runs through the Property as
4
shown on the Site Plan. eveloper shall relocate said force main
install an 18" sewer force main within the Lake Mary Boulevard
right of way in the event the City has not implemented it's force
main construction project as part of the County's reconstruction
of Lake Mary Boulevard prior to the start of construction of the
Project by Developer. City shall reimburse Developer for the
additional cost of enlarging the force main from 12" to 18" for
that portion of the force main to be located in the Lake Mary
Boulevard right-of-way. Reimbursement shall be based upon
the best bid acceptable to City s based upon at least three (3)
bids obtained by Developer,, ~aich acceptance and approval
shall not be unreasonably withheld. Said reimbursement shall
be made by City within thirty days of Florida Department
Environmental Protection clearance. Developer shall be
responsible for the construction of the 12" sewer force main
north through the adjacent property, which is currently owned
by Owner, as more specifically detailed in the Site Plan (the
"City of Sanford Exclusive City Services Easement Area"), and
b. ~he ~eveloper shall be responsible for the relocation of that
portion of the existing potable water main currently located
north of Lake Mary Boulevard that runs through the Property /u,~.
as shown on the Site Plan. The Developer shall be responsible
for the construction of the potable water main along the north
Lake Mary Boulevard right-of-way and within the City of
Sanford Exclusive City Services Easement Area as shown on the --.
Site Plan. In the event the City has not implemented it's water _x -_ ~.~
main construction project as part of the County's reconstruction c~
of Lake Mary Boulevard prior to the start of construction of the co
Project by Developer, ]~e City shall reimburse Developer for c~ .-~
.=--
the cost expended by Developer in constructing the potable
water line in the Lake Mary Boulevard right-of-way and the
City of Sanford Exclusive City Services Easement Area.
Reimbursement shall be based upon the best bid acceptable to
Ci y as based upon at least three (3) bids obtained by Developera
~ich acceptance and approval shall not be unreasonably
withheld. Said reimbursement shall be made by City within
thirty days of Florida Department Environmental Protection
clearance.
c. Prior to August 9, 1999, Owner shall grant to City
easements for the relocation of the sewer force main and the
potable water line within the City of Sanford Exclusive City
Services Easement Area and a second City of Sanford Exclusive
City Services Area, located adjacent to the Lake Mary Boulevard
5
right of way, as described in Exhibit F, attached hereto (the
"Second City of Sanford Exclusive City Services Area").
d. The Developer shall obtain all required inspections from the
City and submit all required documentation (including
maintenance bonds) for all work completed in accordance with
the City's Land Development Regulations.
6. Bifurcation of Avvroval Process. City agrees that the approval and
permitting of Developer's Project shall be separate from the permits and
approvals applied for by Developer related to the future construction of the
roads to be located in the Second and Third Segments. Developer hereby
agrees that it shall pursue the preparation of engineering plans and the
submission of applications for the permitting of the construction of the road
to be located in the Second Segment and the Third Segment, concurrent with
Developer's construction of its project on the Property. Developer shall also
agree to promptly respond to all requests for more information made by any
applicable governmental entity related to the permitting of the Second
Segment and the Third Segment (the "Permitting Authority"). So long as
Developer has proceeded in good faith and in a timely manner with the
preparation of engineering plans, the making of application for the
permitting of the roads to be located within the Second and Third Segments,
and has promptly responded to requests for additional information by the
Permitting Authority, City shall not fail to issue additional approvals, t~
permits or certificates of occupancy or suspend or terminate Developer's right ~
to proceed with the construction of its Project, based upon any delay or
failure to obtain the permits and approvals for the Second and Third
Segments. o
6. Size of Units. Developer shall be permitted to construct apartment
units with a minimum size of 670 square feet.
7. Vacation of Easements. On August 9, 1999, the Sanford City
Commission voted to approve Ordinance Number 3500 , thereby vacating the
Easements and any other unrecorded easements encumbering the Property.
Developer shall grant to the City on the Closing Date separate temporary Twenty
Foot wide easements centered upon the existing sewer force main and the water
main over that portion of the Property where the mains are currently located, until
such time that the mains are relocated and operational, pursuant to this
Agreement. Said easement shall include the right of ingress and egress for
maintenance and repairs, shall not be recorded, and shall be held in escrow with the
City Attorney until such time that the mains are relocated and operational,
pursuant to this Agreement. At such time that the mains are relocated and
operational and a City approved Bill of Sale is recorded in the public records,
conveying Developer's interest in said mains to the City, the temporary easement
shall be deemed to be terminated and shall be delivered by the City Attorney to the
Developer.
6
L
Witnesses: OWNER:
INVESTMENTS, INC.
2'_',, Name:BVeal
~-~Wt_~' President
Title:
Signature
Print Name: ~//~'~ F~_-S~A/ (CORPOMTE SEAL)
c-7
r,~
'~;>:;~
r,,J"l cqu~,
8
Witnesses: DEVELOPER:
VESTCOR FUND XI, LTD.
By: Vestcor Partners XI, Inc., as
sole general partner
Signature _ Na~ten Packard
Print Na e: - ', ~ Title: ~ ~ ~~
The foregoing instrument was acknowledged before me this/~ ~ day of
~2 ' , 1999, by KRISTEN PAC~RD, the ~~. of
Vestcor Partners XI, Inc., as sole general partner of ~STCOR FUND XI, LTD., a
Florida limited partnership, on behalf of the partnership who is personally known
to me or has produced ~)~ ~/~s identific ' n.
(SEAL) ~ ~~~
P~Name:
Nota~ Public:
10
OFFICIAL RECORDS
BOOK PAGE
~ ~0-~ ~°~- ~ 37111518
oo .SEMINOLE CO. FL
,. ~ ~
OFFICIAL RECORDS
! BOOK PAGE
~'~ ' ° .~ 371 I1520
.0o .-J
,. .~ ~ ' ~ SEHINOLE CO, FL
O~,, 0
'~'
~ '~. o Zo~ ~
· ~: ..
= ~. -L~H ~ ~
~ 0"~
~ ..0~ ~ '
~ o~ ~ ~ ..
-, ~
L]FFIC~AL i~EtORDS
~-'~,%o~ c4 BOOK PAGE
~oz~ .'
~, ,~. ~m~~ SENmOLE CO. EL
~ ,.~