HomeMy WebLinkAbout1982 GDC AgreementAGREEMENT
THIS AGREEMENT, made and entered into this -/ Z, 14-4 day of
by and between GENERAL DEVELOPMENT CORPORATION,
(hereinafter referred to as "General "), a Delaware corporation authorized to
do business in the State_ of _Florida, and the CITY OF _SEBASTIAN (hereinafter
referred to as "City "), a municipality under the laws of Florida;
WITNESSETH
WHEREAS, General entered into an agreement with the City dated
August 15, 1979; and
WHEREAS, as a result of said agreement certain additional road
repair and resurfacing was required; and
WHEREAS, General has proposed resolution of all outstanding
obligations under the agreement dated August 15, 1979; and
WHEREAS, on April 12, 1982, City advised it was willing to accept
such resolution in full settlement of all obligations under said August 15,
1979 agreement by resolution passed by majority vote of the City Council.
NOW, THEREFORE, in consideration of the mutual covenants contained
herein and other good and valuable consideration the parties hereby agree as
follows:
1. General shall pay the sum of Thirty Seven Thousand
($37,000.00) Dollars by corporate check to City.
2. Upon receipt of said sum, City hereby agrees to accept the sum
in full settlement of all claims and obligations arising out of the
agreement dated August 15, 1979, with the exception of repair of core boring
holes left unfilled subsequent to testing.
3. General shall repair all core boring holes left unfilled
subsequent to testing within Units 1 - 6; 8 - 15; and portions of 16 and 17.
4. Upon inspection of said repair the City shall sign a release
acknowledging that the repair has been completed and releasing General from
all further claims or obligations arising out of the agreement dated August
15, 1979.
N- e
5. This agreement is executed on behalf of the City of Sebastian
in accordance with a resolution passed by majority vote of the City Council
at its meeting on April 12, 1982.
GENERAL DEVELOPMENT CORPORATION
By:
Att
CITY OF SEBASTIAN
By:
Attest: _
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LEG. 70/56