HomeMy WebLinkAboutResolution No. 1985-13 . MICROFILMED AUG 87
RESOLUTION NO. 85-13
A RESOLUTION AUTHORIZING THE MAYOR AND
CITY CLERK TO ENTER INTO AN AGREEMENT
WITH MAXI-HOMES OF AMERICA FOR THE PAYMENT
OF FUNDS TO FINANCE TRAFFIC SIGNALIZATION
AND THE EXTENSION OF RIDGEWOOD AVENUE;
PROVIDING AN EFFECTIVE DATE.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the
City of Cape Canaveral, Florida, as follows:
SECTION 1 . The Mayor and the City Clerk are hereby
authorized to execute an agreement with Maxi-Homes of America for
the payment of funds to finance traffic signalization and the
extension of Ridgewood Avenue.
SECTION 2 . This Resolution shall take effect immediately
upon its adoption.
ADOPTED by the City Council of the City of Cape Canaveral,
Florida this 19th day of February , 1985 . . '
N�„ ,caruaa+iri ayor 4 V
ATTEST• •' .�' ¢
Ip "A� NAME YES NO
r� • ' _ , �"‘. _ FISCHETTI x
(Th MARCHETTI X
L ..,,,ance ,.. /.2 NICHOLAS X -
I:ZLty Clerk RUTHERFORD X
ttll��. WINCHESTER
Approved as to Form:
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Iic. Attorney
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MICROFILMED AUG 87
ESCROW AGREEMENT
AGREEMENT made this 19thday of February , 1985
by and between MAXI-HOMES OF AMERICA, a joint venture,
hereinafter referred to as "MAXI-HOMES" and the CITY OF
CAPE CANAVERAL, a municipal corporation, hereinafter referred
to as "CITY" .
WHEREAS, Maxi-Homes is presently developing a condominium
project in the City of Cape Canaveral knows as The Villages
of Seaport; and
WHEREAS, as a condition of site plan approval, Maxi-Homes
has agreed to pay to the City certain sums of money to finance
traffic signalization to be accomplished by the City in con-
junction with the project and to provide funds for the future
paving of Ridgewood Avenue; and
WHEREAS, the parties wish to enter into this Escrow
Agreement to accomplish said purpose, it is
THEREFORE, in consideration of the mutual covenants and
promises contained herein agreed between the parties as follows :
1. Maxi-Homes agrees that it will participate in the
cost of providing traffic signalization on North Atlantic Avenue.
Such signalization to be at such location and of such type as
the City of Cape Canaveral shall determine to be in the best
interest of traffic flow in the area. Maxi-Homes agrees that
it will pay the total cost of said traffic signalization at
such time as the the type of signalization required shall be
determined, provided, however, that Maxi-Homes ' obligation in
this regard shall at no time exceed $55 , 000 .00 .
2 . Maxi-Homes additionally agrees that it will contribute
to the City the cost of construction of an extension to
Ridgewood Avenue for the full extent of the property being
developed by Maxi-Homes in accordance with the site plan
previously approved by the City. Said road shall be constructed
in all respects with plans and specifications of the City.
ATTACFT TO RESOLUTION NO. 85-13
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MICROFILMED AUG 87
It is agreed that Maxi-Homes, Inc. , shall submit to the
City a detailed construction estimate of the current cost of
constructing this portion of the proposed road. The City
shall have the right to have said cost estimate reviewed and
approved by its consulting engineers . In the event Maxi-Homes '
and the City' s engineers can not agree as to the reasonable
cost of constructing the road, the parties agree that the two
engineers will select a third engineer mutually agreeable to
the parties whose determination as to the cost shall be final
and binding on both parties.
3 . Maxi-Homes agrees that it will at the time of
obtaining a certificate of occupancy for each unit constructed
in the Villages of Seaport project pay to the City the sum of
$100 .00 to be applied to the signalization cost, and an additional
$100 . 00 to be applied to the cost of constructing the road.
These payments shall continue for each unit until the
actual cost of signalization, if then determined, or $55 , 000 .00 ,
whichever is less, is accumulated by the City for that purpose.
Similarly, the $100 .00 is to be contributed for the road con-
struction expenses shall be paid on each and every unit until a
sum equal to the amount computed in accordance with the terms of
Paragraph 2 is accumulated.
4 . In the event that the actual cost of signalization is
determined to be less than the amount paid pursuant to the terms
of Paragraph 3, hereof, the City agrees that it will refund any
excess to Maxi-Homes .
5 . The Agreement shall be binding on successors and assigns
of both parties .
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ATTEST:
MAXI-HOMES OF AMERICA,
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=� ""° °'� ',,�'�t CITY OF CAPE CANAVERAL
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, ��' '�_ ty Clerk 4 ayor ir
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�,3 l a tO ' ATTAR '10 RESOLUTION NO. 85-13
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