HomeMy WebLinkAboutAgreement - Bond Extention✓' F
AGR f LME N T
THIS AGREvM;NT ,
MADE AND ENTERED INTO at Miami, Dade County, Florida,
this 15th day of November, 1961, by and between:
GENERAL DEVELOPMENT CORPORATION,
a Delaware corporation,
hereinafter called "General"; and
CITY OF SEBASTIAN,
a. municipal corporation, under
the laws of the State of Flori_On
hereinafter called "Sebastian";
WITNESSETH:
V- EREAS, GENERAL DEVELOPMENT CORP., a Florida corporation,
under date of February 3, 1958, executed a bond unto Sebastian in
the penal sum of FOUR HUNDRED SEVENTY FIVE, THOUSAND ($475,000.00)
DOLLARS, to guarantee the construction and completion by GENERAL
DEVELOPMENT CORP., a Florida corporation, within two (2) years
from February 3, 1958, of all streets delineated upon the Flat
of SEBASTIAN HIGHLANTDS, Unit 2, consisting of four (4) sheets,
according to the minimum street specifications of the City of
_ebastian as prepared by LLOYT_'a & ASSOCIATES, Consul -ti.. g angi_neers,
Arcade Building, Vero Beach, Florida; and
t�:HEREAS, GENERAL DEVELOPn INT CORP., a Florida corporation,
T erged into FLORIDA CE,NADA CORPORATION, a Delaware corporation,
and in said merger the name of FLORIDA CANADh CORPORATION, was
changed. to GLNERAL DEXELOPMEiNT CORPORATION, a Delaware corporation,
and said GrNERAL Dr,VELOPIVrc:T'tiT CORPORATION, a Delaware corporation,
succeeded. to all rights of GEN2km' L CORP. , a Florida
co3-poratiorc, in and to the property referred to in said bond,
and assumed all- of the- obligations of GENERAL DEVELOPMENT CORP.,
a Florida corporation, under said bond; and
-1-
WILLIAMS. SALOMON. KENNEY & LINDZON, ATTORNEYS AT LAW. DuPONT BUILDING. MIAMI, FLORIDA
WHEREAS, by xtension Agreement dated March ,
1960, Sebastian agreed with General that the bond hereinabove
referred to was extended for a period of two (2) years from
February 3, 1960, in which General would be required to complete
the work provided for under said bond; and
WHEREAS, General has replatted Pages 2, 3 and 4 of said
Plat of SEBASTIAN HIGHLANDS, Unit 2, and as a condition to the
acceptance of said replatted pages of said Plat, Sebastian is
requiring that the bond hereinabove referred to, and the obli-
gations thereunder, be extended to and cover the construction
and completion of all of the streets delineated upon said
replatted Pages 2, 3 and 4 of SEBASTIAN HIGHLANDS, Unit 2.
NOW, THEREFORE, in consideration of the sum of TEN
($10.00) DOLLARS and other good and valuable consideration in
hand paid to General by Sebastian simultaneously with the
execution and delivery of these presents,the receipt whereof
is hereby acknowledged, and in further consideration of
Sebastian approving the replatting of said Pages 2, 3 and 4
of the Plat of SEBASTIAN HIGHLANDS, Unit 2, General convenants
and agrees with Sebastian that the bond hereinabove referred
to shall extend to and cover the construction and completion
of all of the streets delineated upon and shown. on said re -
platted Pages 2, 3 and 4 of SEBASTIAN HIGHLANDS, Unit 2.
IN WITNESS WHEREOF General has caused these presents,.
to be executed as of the day and year first hereinabove',
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GENERAL DEVELOPME CO ORA�f L� T/.
BY
r. 'eCllt � `% Ce-ine
tlM s
ATTEST:
Signed, sealed and delivered It ecret ry
in thep resence of:
WILLIAMS, SALOMON. KENNEY & LINDZON, ATTORNEYS AT LAW, DUPONT BUILDING, MIAMI. FLORIDA