HomeMy WebLinkAboutSebastian Highlands Agreementa
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AGREEMENT
WHEREAS, GENERAL DEVELOPMENT CORP., a Florida corporation,
2818 Coral Way, Miami 34, Florida, has presented to the City of Sebastian,
a municipal corporation under the laws of the State of Florida, Sebastian,
Florida, a Plat consisting of two sheets entitled "Sebastian Highlands",
platting and subdividing certain property described on said Plat situated in
the City of Sebastian, Indian River County, Florida, for approval by said
City; and
WHEREAS, said City has approved said Plat subject only to the com-
pletion of the streets as shown on said Plat by said General Development
Corporation, NOW, THEREFORE;
In consideration of the premises and in consideration of said City
i; approving said Plat prior to the completion of construction of the streets
as shown on said Plat and in order to induce said City to forthwith finally
approve said Plat, the said General Development Corp. DOES HEREWITH
AGREE with said City that it will, within one year from this date, construct
and complete all of the streets delineated upon said above-described Plat
according to the minimum street specifications of the City of Sebastian
as prepared by Lloyd & Associates, Consulting Engineers, Arcade Building,
Vero Beach, Florida, reference being herewith made to said specifications
as fully and completely as if the same were herein set forth in full.
In order to insure the faithful performance by the said Corporation of
i' the terms of this Agreement, the said Corporation DOES HEREWITH SUBMIT
to said City its Bond dated October 17, 1957 in the penal sum of One Hundred
Twenty -Five Thousand Dollars ($125, 000.00) with Continental Casualty Com-
pany, a corporation existing under the laws of the State of Illinois, authorized
to transact a surety business in the State of Florida as Surety.
IN WITNESS WHEREOF the parties hereto have caused these presents
MITCHELL, SMITH & MITCHELL, ATTORNEYS AT LAW, VERO BEACH, FLORIDA
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to be executed as of October 17,
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MITCHELL, SMITH & MITCHELL, ATTORNEYS AT LAW, VERO BEACH, FLORIDA
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SUPPLEMENTAL AGREEMENT
WHEREAS, the City of Sebastian, a municipal corporation under the laws of
the State of Florida and the General Development Corp., a Florida corpor4tion, did on
the 17th day of October, 1957 enter into a certain Agreement relative to the construction
and completion of certain streets delineated upon certain plat of the General Development
Corp. ,
WHEREAS, the parties to said Agreement are interested in supplementing said
Agreement,
NOW, THEREFORE, in consideration of the premises and $10. 00 and other
valuable consideration, the parties hereto supplement said Agreement as follows:
The City of Sebastian does herewith agree to allow the General
Development Corp. to complete construction of said streets as
shown on the plat of General Development Corp. within two (2)
years from the date of the original Agreement.
The City of Sebastian does hereby agree with the General Develop-
ment Corp, that the bond insuring the faithful performance of the
General Development Corp, in the penal sum of One Hundred Twenty -
Five Thousand Dollars ($125, 000. 00) with the Continental Casualty
Company, a corporation existing under the laws of the State of
Illinois, authorized to transact a surety business in the State of
Florida and that said Surety Bond is reduced to the sum of Seventy -
Five Thousand Dollars ($75, 000. 00).
The City of Sebastian and General Development Corp. do herewith
re -confirm all matters contained in the original Agreement dated
October 17, 1957 and supplemented by this Supplemental Agreement.
�r.1IN WIT SS WHE EOF, the parties cause these presents to be executed this
— day of tWdr,72 19 5 8.
GENERAL DEVELOPMENT CORP.
By 72�_ � - j
President
A mm -Mem.
ATTEs�r:
City Clerk
VOCELLE & VOCELLE
VERO BEACH, FLORIDA