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GAS WALL CONSTRUCTION AGREEMENT 1ZJ5<12/g7 16:39 SCHROEDER & LARCHE, P.A. t'-O.043 GJ01 S~HROEDER AND LARCHE. ~.b. ATTORNEYS AT LAW ONE BOCA PLACE, SOITE 319 2255 GLADES ROAD 80CA RATON, FLORIDA 33431-7383 :~~;;I'~~: : ~-I~ ~ ;,m "..IU! L:J - ATRIUM. I Plp,NNING f;ND ZONING DEPT. TELECOPIER (561) 241-0798 BOCA RATON (561) 241-0300 BROWARD (954) 421-0878 BILLING NO: TELECOPY NO: TELECOPIE~ TRANSMITTAL SHEET 0010-053 (561) 375-6054 (561) 375-6259 (561) 375-6357 (561) 732 -3993 FROM: RE: DATE: Michael Pawelzcyk, Esq., Assistant City Attorney Ms. Tambri Heyden, Planning & Zoning Director Mr. Al Newbold, Acting Development Director Mr. Bill R. Winchester Alan Pellingra, Esq. Stonehaven HOA/Knuth Gas Wall Construction Agreement May 12, 1997 TO: CC; SPECIAL INSTRUCTIONS: Correspondence of even date with changes to proposed Wall Construction Agreement enclosed. TOTAL NUMBER OF PAGES INCLUDING THIS PAGE: 20 ORIGINAL TO FOLLOW: No CONFIDENTIALITY NOTE THE INFORMATION CONTAINED IN THIS fAX TRANSMISSION IS LEGALLY PRIVILEGED AND CONFIi)f.;l'fTUU. INfORMAnON IN'l"::r:OEJ ONLY FOIt THe USE Of' 'I'tle INDIVIDUAL OR itNTITY NAMED ABOVE.IF THE RE~OER OF TKIS TRANSM:SSION IS NOT rat I~TENDEO RECIPIENT, YOU ARE KEREBY NOTIFIED TH~T ANY DISSE~INATION. DISTRIBUTION OR CO?YING or THIS TRANSMISSION IS STRICTLY PROHIeI'l'EO. IF YOU HAV:; R~CEIVED THIS T~N$MISSION not ERROR, PLEASE IMMEDIATELY NOTIFY US BY COLLECT TELEPHONE CALL ANO RET~RN TEE ORIGINAL TRANSMISSION TO US AT THE ADDR&SS ABOVE VIA U.s. MAlL. THANK YOU IF "tou 00 NOT ~tCEIVE ALL OF THE PAGES PLEASE CALL (561] 241-0300 AS SOON AS POSSIBLE O~R TELtCOfIER NUMBER IS: (561) 241-0798 05...12/97 16:39 SCHROEDEB & ~ARC~, P.A. t'-,O.043 GJ02 ATTOItNEVS AT LAW ONt 80c:A flV.te:, SUITt 310 - ATItIUM 2255 CLADES ROAD aoCA RATON, FLORIDA 33431 ., 738) ...<-..~_._~_...,-~...________-w-~~_~_" cd ~\jL,d ,~-lir~11 ".'.1 ~1AV 12 j)7 't.".)j I ! W.q i'., d " -' ; !-.II ~ I _ -....-l I PLAWW~G A~J[}1 ZON!NG DEPT. I SCHROEDER AND LARCHE, P. A. MICMAU A. sC"1l0tD!J \1/ ~l\Wltlt"Ct: LARCHE' "~"N I'ULIIolGAA 'OCA "TON ('071l41 .0300 ,.OWARD COUNTY I~\ 421 .081& nI.ECOPIUI4011 :141-079' . f\OlllDl'\"" _D Ctmflal ""14$.1WU$1'S _ [STAru,l.AlVYU May 12, 1997 va HLECOP%D (S61) 375-6054 Michael Pawelzcyk, Esq. Assistant City Attorney City of Boynton Beach City Hall 100 East Boynton Beach Boulevard Boynton Beach, Florida 33435-0310 Re: Construction of Walls for Stonehaveo Homeowners' Association, Inc./Building Permit for Knuth Gas & Oil, Inc. Dear Mike: We are close to entering into a Construction Contract for the Wall. The price of the Contract has been increased by $300.00. Accordingly, I have revised the Wall Construction Agreement to reflect that chanqe and enclose herein a black line copy. The other change you will note iz in paragraph six. The Wall Construotion Contract requires us to provide the Contractor with a deposit in the amount of 25% of the Contract Price. The deposit is required since the Wall is being custom fabricated for this particular project. I have added language to the Wall Construction Agreement to the effect that we, as Escrow Agent, are authorized to disburse the deposit to the Contractor. If you have any questions about the foregoing, please contact ,,/ Ve~UIY yours, ,/~ ~ PELLINGRA me. AP;cc Enclosure cc: Ms. Tambri Heyden, Planning and Zoning Director (w/enclosure) Mr. Al Newbold, Acting Development Director (w/enclosure) Mr. Bill R. Winchester (w/enclosure) Michael A. Schroeder, Esq. (w/enclosure) (J:\7\CLIENTS\WINCKEST\B010IL\PAWELZCY.512 010-53) 05/-: 2/97 16:39 SCH~EDE~ & LARCH~, P.A. 1'--0.043 GJ03 WALL COllS~IlUCTIDN AGRE'li!MRlft This Wall Construction Agreement (the ttAgreement") is made and entered into this day of , 1997, by and among 8ILL R. WINCHESTER, ELSIE A. WINCHESTER and M. FRANK FINFROCK, CO- TRUSTEES OF THE KNUTH ROAD TRUST DATED AS OF NOVEMBER 15, 1996 ("Winchester"), the CITY OF BOYNTON BEACH, FLORIDA. (the "City"), and SCHROEDER & LARCHE, P.A. ("Escrow Agent") UCITALS A. On June 19, 1990, the Stonehaven Homeowners' Association, Inc., a Florida corporation (the "Association"), Bill R. Winchester (the predecessor of WINCHESTER) and MICHAEL A. SCHROEDER, TRUSTEE, entered into that certain Agreement (the ItStonehaven Agreement") pertaining to the obligation to construct walls in connection with the (i) Boynton Beach Boulevard P.C.D.; (ii) the Knuth Road p.e.D.; and (iii) Tara Oaks PUD. The Stonehaven Agreement has been amended in that certain First Amendment to Agreement dated May 17, 1996 (the Stonehaven Agreement, as amended shall hereinafter be referred to as the "Stonehaven Agreement If). A copy of the Stonehaven Agreement is attached hereto as Exhibit "B". B. desc:;ibed to Knuth Oil") . c. Knuth Gas & Oil desires to develop the Knuth Gas Property as a service station. On October 8, 1996, Winchester solo the property on Exhibit "A" attached hereto (the "Knuth Gas Property") Gas 6i Oil, Inc., a Florida corporation ("Knuth Gas &: D. The City has required that the walls to be constructed pursuant to Sections II and III of the Stonehaven Agreement (the "Walls") must be constructed prior to the issuance to Knuth Gas & Oil of a building permit for the construction of the service station. E. The City has agreed that the condition specified in recital D above shall be deemed satisfied if Winchester delivers to the Escrow Agent a cash bond in an amount equal to one hundred and ten percent (110%) of the cost of constructing the Walls. F. The cost of constructing the Walls is Ei9hty~ Thousand Eight ~ Hundred Fifty {Sge/e5~.O&t(S81,lS0.00' Dollars. G. Winchester has agreed to deliver to Escrow Agent t~e sum of Eighty-Eiyld. lUna Thousand N-i:'n'e ~ Hundred !hL.. ty Si.x~y Five and nollOO (OaS,9JS.ee) ($B9-,2~'.OOl Dollars (the "Escrowed Funds") which is equal to 110% of the cost of cor.struc~ing the Walls. H. The parties have agreed to enter in~o this A9reement to confirm (i) that the delivery of the Escrowed Funds to the Escrow Agent shall satisfy the condition precedent to the issuance to Knuth Gas & Oil of a building permit for the construction of the service station; and (ii) the term9 and conditions under which the OS-<12/57 16:39 SCHROEDEF & _ARC~E, P.A. 1"0.043 GJ04 Escrow Agent shall hold and disburse the Escrowed Funds. NOW TBBREFO~, in consideration of the covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 1. Rec:i.t:a~s. correct. The recitals set forth above are true and 2. Sati.fac~ion of eondi~:i.on. The City hereby agrees that the requirement that the Walls be constructed as a condition precedent to the issuance of a building permit for the construction of a service station on the Knuth Gas Property shall be deemed satisfied by the delivery to Escrow Agent of the Escrowed Funds in accordance with the terms of this Agreement. 3. Deliv.ry o~ Eseroved. FUnds. The Escrow Agent hereby acknowledges that Winchester has delivered to the Escrow Agent the Escrowed Funds. 4. ~~t~~g~iRp o~ ~he .,11. ?ursuant to the terms of the Stone-haven Agre.ement, Winchester has agreed to construct the Walls. It is anticipated that construction of the Walls will commence on or around August 1, 1997 and be completed no later than December 31, 1997 (the "Completion Date"). 5. Di..bur....n~ Q{~.~ro~ I>>DQ~. The Escrow Agent shall hold the Escrowed Funds in escrow and shall disburse them strictly in accordance with the terms and conditions of this Agreement. 6. D.:i..burBera.ll~ lI;-i2.J: !:-o <;~l...~ion Dat:e. The Escrow Agent shall be permitted to disburse, from time to time, the Escrowed Funds to the contractor hired by Winchester to construct the Walls upon presentment by such contractor of a request for payment and the approval of the request for payment by the City. The City agrees to approve the request for payment, provided there are sufficient Escrowed Funds remainin'i: with the Escrow Agent to complete construction of the Walls. Addi~~o~117r ~he Ci~ hereb~ au~or.:i.ze. ~e Escrow Ag'8ftt: t:o d:i.sburAfII ~Q t:he Cant:ract:or. w:ithou~ ~~~;:o:~:~r;~~t:~'io~1)~l%~~o~~ :olquto~~t:.~ ~.cl;;:S~: i:;D:~ eofts~ruetioll o~ t:he Wall,- Upon "completion" (as hereinafter defined) of the Walls, Escrow Agent shall disburse the balance of the Escrowed Funds to Winchester. "Completion" shall mean the date on which Escrow Agent is provided with (i) approval and acceptance of the Walls by the City, and (ii) a Final Contractor's Affidavit and Release of Lien from the contractor constructing the Walls, indicating that all persons providing labor, material or services have been paid ~n full. 1. D:iel:lurs8IIlent: SubaequeD~ t:o Comn~.t::i.on Date. In the event construction of ~he Walls is not completed by the Completion Date, the City may either (i) agree to extend the Completion Date, or 2 05/.: 2/~ 16:39 SCHRCEDE~ & LARCHE. P.A. t-O.043 [;105 (~i) complete the construction of the Walls by either utilizing C~ty employees or an outside contractor. If the City elects option (ii), the Escrow Agent is hereby authorized to disburse the balance of the Escrowed Funds to the City. Notwithstanding the decision of the City to exercise option (i1), Winchester agrees that in the event the Escrowed Funds are insufficient to complete construction of the Walls, Winchester shall provide ~he City with any additional funds needed to complete construction '-lithin three (3) days of written notice. Additionally, in the event the Escrowed Funds exceed the cost of constructing the Walls, the City agrees to refund the difference to Winchester. 8. Gefteral E.~rov Provisioft8. A. Escrow Agent shall deposit the Escrowed Funds in an interest bearing escrow account. The interest earned shall be deemed part of the Escrowed Funds. B. Escrow Agent shall not De deemed to have knowledge of any matter or thing unless and until Escrow Agent has act~ally received written notice of such matter or thing and Escrow Agent shall not be charged with any constructive notice whatsoever. C. Escrow Agent'S responsibilities are purely ministerial in nature. Any reduction in the market value of the Escrowed Funds while deposited with Escrow Agent shall be at the sole risk of Winchester. E3crow Agent has no duty to invest the Escrowed Funds except as provided herein. Escrow Agent shall have no liability in the event of any insolvency of any depository, failure of any depository to pay interest or other earnings on sums deposited or should such depository fail, or refu~e to release sums deposited or delay in the release or disbursement of same, it being understood that Escrow Agent's sole obligation is to deposit the funds in an interest bearing account and to authorize disbursement therefrom in accordance with the provisions hereof. D. In the event Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands from the :ity or Winchester with respect to the Escrowed Funds or any other sums or things which may be held hereunder, which, in its sole opinion, are in conflict with any provi~lon of thi~ Agreement, Escrow Agent shall be entitled to refrain from taking any action until it shall be directed oche~wise in writing by the City and Winchester or by a fin~l order or judgment of a court of competent jurisdiction. E. It is agreed that the duties of Escrow Agent are purely ministerial in nature and shall be expressly limited to the safekeeping of the Escrowed Funds or deposit of same into the account hereinafter specified and for the disposition of same in accordance with this Agreement. Winchester hereby indemnifies Escrow Agent and holds it harmless from and against any and all claims, liabillties, damages, costs, penalties, losses, actions, suits or proceedings at law or in equity, or any other expenses, 3 05/12-S7 16:39 SCHROEDEB & ~ARC~, P.A. NO. 043 GJ06 fees or charges of any character or nature, which it may incur or with which it may be threatened, whether directly or indirectly arising from or in any way connected with this Agreement, or ~hich m~y result from Escrow Agent. s following of instructions from W~nchester or the City, and in connection therewith, indemnifies Escrow Agent against any and all expenses, including attorneys I fee~ and the cost of defending any action, suit, or proceeding or res~sting any such claim, whether or not litigation is instituted. F. It is further agreed that Escrow Agent shall have the right to utilize the services of Mattlin and McCloskey, or any other law firm selected by Escrow Agent, as its attorney and same shall not affect or in any way prejudice or limit Escrow Agent's entitlement to reasonable attorneys' fees for the services of such attorneys as set forth in this Agreement. G. In the event Escrow Agent is joined as a party to a lawsuit by virtue of the fact that it is holding the Escrowed Funds, Escrow Agent shall, at its option, either (1) tender the Escrowed Funds to the registry of the appropriate court or (2) disburse the Escrowed Funds in accordance with the courtts ultimate disposition of the case. H. In the event Escrow Agent tenders the Escrowed Funds to the registry of the appropriate court and files an action of interpleader naming the City and Winchester, Escrow Agent shall be released and relieved from any and all further obligation and liability hereunder or in connection herewith. I. This Escrow Agreement shall remain in effect unless and until it is canceled in any of the following manners: (ll Escrow Agent may resign as Escrow Agent at any time upon giving notice to the City and Winchester of its desire to so resign; provided, however, that resignation of Escrow Agent shall take effect no earlier than ten (10) days after the giving of notice of resiqnat1on: or (2) Upon comp:iance with all escrow provisions as set forth in this Agreement. J. In the event the City and Winchester fail to agree to a successor escrow agent within the period described hereinabove, Escrow Agent shall have the right to deposit all of the Escrowed Funds held hereunder into the registry of an appropriate court and request judicial determination of the rights between Winchester and the City, by interpleader or other app~opriate action, and Winchester hereby, indemnifies and holds Escrow Agent harmless from and against any damages or losses in connect.ion therewith including, but not limited to, reasonable attorneys' fees and court costs at all trial and appellate levels, K. Upon terminat.ion of the duties of Escrow Agent in either manner set forth in subparagraph I of this Section, Escrow 4 CS/"12/3'7 16:39 SCH~OEDER& LARCH:, P.A. t'-O.043 GJ07 Agent shall deliver all of the l::scrowed Funds to the newly appointed escrow agent designated by Winchester and the City. L. All notices, certificates, requests, demands, materials and other communications hereunder shall be in writing and deemed to have been duly given (1) upon delivery by and to the appropriate addres9 of Winchester, the City or Escrow Agent as set forth in this Agreement or (2) en the third business day after mailing by United States registered or certified mail. return receipt requested, postage prepaid to ~uch address. All notices hereunder shall be addressed to the respective parties at the following addresses: For Escrow Aqent: SCHROEDER AND LARCHE, P.A. ONE BOCA PLACE, SUITE 319, ATRIUM 2255 GLADES ROAD BOCA RATON, FL 33431-7313 For Winchester: MR. BILL R. WINCHESTER P. O. DRAWER 1240 BOYNTON BEACH, FLORIDA 33435 For the City: THE CITY OF BOYNTON BEACH clo CITY ATTORNEY'S OFFICE P. o. BOX 310 BOYNTON BEACH, FL 33425-0310 9. Choice of La.. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. 10. Bind1nq Aa~.8m8fte. This Agreement shall be binding upon the parties hereto and their respective successors and/or assigns. 11. eQUnte~ar~.. This Agreement may be e~ecuted in counterparts and all counterparts taken together shall be deemed one and the same instrument. IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first above written. (Signatures are continued on next page.) 5 '25'.12/37 16:3~ SCH~OEDE~& LARCHE, P.A. signed, sealed and delivered tn the presence of; Print Name of Witness Print Name of Witness Print Name of Witness Print Name of Witness Print Name of Witness Print Name of Witness 1'-:0.043 Gl08 CITY OF BOYNTON BEACH, FLORIDA By: Its: SCHROEDER AND LARCHE, P.A., By: Michael A. Schroeder, Its: President Bill R. Winchester, as Co-Trustee of The Knuth Road Trust Dated as of November 15, 1996 J:\7\CLIENTS\WINCKEST\BOYOIL\WALL3.~ 0010-053 IS/12/97) 6 125/12/37 16:39 SCH~EDE~& LARCHE, P.A. t'-0.043 909 EXHIBIT itA" LEGAL DESCRIPTION That part of Lots C, 0, and E, Tract 9, THE PALM BEACH FARMS CO. PLAT NO.8, of Section 30, Township 45 South, Range 43 East, Palm Beach County, Florida, according to the Plat thereof recorded in Plat Book 5, Page 73, of the Public Records of Palm Beach County, Florida, described ae follows: Commence at the point of intersection of the East line of said Tract 9, with the South right-of-way line for State Road 904, as said South right-ot-way line is shown in Road Plat Book 2, Page 219, of the Public Records of Palm Beach County, Florida; thence South 8Bo28'CO~ West along said right-of-way line 15.01 feet to the POINT OF BEGINNING; thence continue South 88028'40" West, along said South right-of-way line 185.07 feet; thence South 0000'00" East, 264.00 feet; thence North 90000'OO~ East, 185.00 feet to a line 15 feet East of and parallel with the said line ot Tract 9; thence North OClOO'OO" East, along said parallel line 268.92 feet to the said POINT OF BEGINNING. 7 OS/"12/=r7 16:39 SCH~EDER-& LARCHE, P.A. EXHIBIT "e" Agreement with Stonehaven Homeowners' Association 8 NO.043 [no 05/: 2/97 16:39 SCHRCEDE~l LARCHE, P.A. t'>0.043 GJl1 EXHIBIT "BII AGREEMEN!' This ^greement entered into this rlJn day of June, 19901 by and between STONElIAVEH HOMEOWNERS AS~ION, INC., a Florida corporation ("^ssociationll) and BILL R. WINCUESTER ("winchester") and MICllAEL A. SClIROEDER, TRUSTEE ("Schroeder"). WHEREAS, there are currently pending betore the city of Boynton Beach, Florida, applications for Annexation, Future Land Use EleMent Amendment, Rezoning and Comprehensive Plan Text Amendment for projects known as "Boynton Beach Boulevard peo" and "Knuth Road PeO" and an application for Future Land Use Element Amendment from "Low Density Residentialll to IIMealum Density Residential" and rezoning' from PUO with a Land Use Intensity of four (4) to PUO with a Lan~ Use Intensity ot five (5) to allow for the construction of 192 mUlti-family Qwelling units and a church with respect to the project known as "Tara Oa~s PUD"; and WHEREAS, Schroeder is the Applicant with respect to the application, known aa "Boynton Beach Boulevarcl PCO" pending before the city of Boynton Beach, Florida and is the Contract Purchaser of the property which is the sUbject ot the Boynton Beach Boulevard application: and WUEREAS, Winchester is the Applicant with respect to the application known as "Knuth Road pu~" pend1nq before the City of Boynton Beach, Florida and as a general partner of the Partnership which owns the property which is the subject of the ~nuth Road PUO application can bind the owner of same; and WHEREAS, Winchester is the Applicant with respect to the application known as "Tara Oaks PUDtl pendin9 before the eity of Boynton Beach, Flor 1da and is the Contract. Purchaser of the property which is the subject of the Tara Oaks pu~ application; and WHEREAS, Association represents the property owners within the residential development known as "Stonehaven PUD" ly1nq within the city of Boynton Beach, Florida; and WHEREAS, Association is enter 1n9 into this Agreement after having a membership meet.ing at which a quorum was present and having received the approval of a substantial majority of its members as evidenced by a signed petition, and HH1UCBASr Association and its members have had the oppo~tunity to review the various applieations and to make such inquiries with respect to same as they deemed appropriate including meeting with representatives of the applicants; and WHEREAS, Association is opposed to the development of the property which is the &ubjec:t ot the "Boynton Beach Boulevard peo" as h19h densitY' residential and to the development of the 05,-12/S7 16:39 SCHROEDEE & _ARC~, P.A. f'..0.043 [;112 prop.~ty which is the subject. of the "Knuth Road peo" property as moderate density residential as contemplated by the current Co~prehensive Plan; and WHEREAS, Association wishes to evidence its support for the approval ot the application with respect to "Boynton Beach Boulevard Peo.., rtKnuth Road PCD", and IITara Oaks PUDII provided the Applicant with respect to each of same aqre~s to assure the Association that such APplicant will, subject to the terms and conditions set forth below, cause certain improvements (descrlbed below) to be made on the real property which is the subject of such application and on the real property of the Association adjacent thereto; and WHEREAS, wlnchester and Schroeder wish to assure the Association that they, rasp,actively, will, SUbject to ~he terms and conditions set forth below, cause such 1mprovemen"ts to be made. NOW, TJlEREFORE, in consideration ot the mutual covenants herein set forth, the parties agree as follows: I. "Bovnton Beach Boule~ard PCO". A. Schroeder agrees that, provided the requisite final qovernment approvals for the Boynton Beach Boulevard PCO application are obtained, he, as t.ne developer/owner thereof, shall make, or cause to be made, the followinq improvements and other arrangementa in connection wi th the development of the property which is the subject of the Boynton Beach Boulevard peD application: (1) The installation of a minimum twenty-live (25) foot wide landscape buffer between the project and Stonehaven PUO along the entire length of the adjacent property lines. BUffer ahall include: in the center of Ca) Four (4) foot high berm; (b) six (6) foot high masonry wall located the bufter; (c) Barbed wire barrier on top of the wall SUbject to city of Boynton Beach approval: , . . (d) Landscaping Which consists ot a .~nlmum of two (2) rows ot shade trees twelve (12) to fourteen (14) feet in height at time of planting, located on thirty (30) foot centera. One row shal1 be placed on e~ch side of the wall. Tree locatlon shall be sta9gered to provide thG effect of fifteen (15) feet on center separation. -2- 85/'":2/37 16:39 SCHROEDER--::;' LARCHE, P. A. NO.043 GJ13 (e) Construction ot wall and berm shall occur simultaneo\lsly with s1te preparation and prior to the commencement of construction of any buildin9s. (2 ) MiS in ten a n ceo r the wall, be r1l\ , and landscaping on both sides of the wall shall remain the obliqation of the developer/owner. (3) All Australian pines within fifty (50) feet o~ the Stanehaven PUD property line along- Banyan Creek circle North and within the southernmost ten (10) acres or the Boynton Beach Boulevard PCD shall be removed by the developer/owner upon initial approval of the application by the City commissioners of Boynton Beach, Florida. (4) Entry iJ\to a.nd maintenance in effect of a contract to provide continuous rodent ancl pest control, s\lch contract to be entered into prior to commencement ot closinq/51te work to cover all of the property which is the subject of the Boynton Beach Boulevard PCD application. (5) Buildin9 heights will De~limited to one story (maximum 2S feet) for anchor store only, balance ot Shopping center to be maximum of twenty-two (22) feet high. (6) All 1!9htinq shall be at low intensity and shall be shielded and directed away trom surrounding properties and rlqhts-ot-way. (7) The architectural treatment at the rear of the Shopping center 15 to match the front or the shopping center. (8) screen!nq and noise mitigation is to be provided for all exterior meohanical equipment and to be located at qround level it approved by the City Commission, ci ty of Boynton Beach, Florida. B. In consideration of the toregoing promises, the Association endor.es the "Boynton Beach Boulevard peon application and requests that the members ot the city Plann1ng and zoning Soard and City Commission approve it. II. "KnuthLRoad PCD". A. Winchester aqrees th~t, provided the requisite final government approvals for the Knuth Road PCD application are obtained, he, as the developer/owner thereot, shall make, or cause ~o be made, the fol1owin9 improvements and other arranqeaents in conneetion with the development of the property which is the SUbject of the ~nuth Road PCO application: (1) A six (6) foot masonry wall shall be built ..)- e5/~: 2/9'7 16:39 SCHROEDER. & LARCHE, P. A. t--<0.043 [;114 , adjacent to the east right-of-way line ot Xnuth Read troM stonehaven fUOIS north property line (adj&cent to oftice buildlnc1) south along the north right-af-way line of the LWOO L.. 25. The Association agrees to assist the developer in obtainin9 approval to include this wall section in the development plans for Knuth Roat! PUD subject to appropriate impact (ee credit.s. flowever, it impact. fee credit can not be obtained, the de~eloper/owner shall construct this ~all from his funds. Where said walls ",eat at Knuth Road and stonehaven Drive the placement of said walls shall be done 1n manner reasonably suitable to the Assoeiation# It is the intention of the Association that these walls conform with the exist1n9 layout ot the pr:esent entrance into Stonehaven PUO and to accommodate location of quard gates. (See II.A.(4) (c) below.) (2) The 1<nuth Road peD property owner shall be to proviae 1nAintenance tor said waIls tor five (5) required years. (3) Construction of the wall shall occur simultaneously with site preparation and prior to the commencement of construction of any buildings. (4) The owner of the Knuth Roaa peD property ~ill participate as follows in proviaing additional security of stonehaven puo: (a) Assist in preparing applications and seeking approval tor the abanclonment by 'the city of Boynton Beach, Florida, of Stoneh4ven Orive trom Knuth Road to LWDD L-25 to secure t.he safety, well beinq and property values of the residents of Stonehaven PUO. 'tnese applications will commence upon approval ot this project by the City Commission of Boynton Beach, Florida. (b) Construction of the fOllowinq masonry wall segments which shall occur siNultaneously with site preparation and prior to the commencement of const.uctlon ot any buildings and (WhiCh will not be subject to any impact fees credits): 1. A sectlon of a six (6) foot hiqh ln8Sonry wall identical to wall 1n II-A- (I) fifty (50) feet in length extendin9 from the east ri9ht-of-way ot Knuth Road adjacent to the existing office buildinq parking area along the north property line of stonehaven PUD. 2. Construction of a six (6) foot masonry wall identical to wall 1n II-A-(l) along the north riqht- of-\1iay line of LWDD L-25 from a point parallel with the east property line of "Tara OaKS PUO" easterly to the west right-of- way line of Stonehaven orive. Said wall section shall commence -4- - C5/,- 2/37 16:39 SCH~OEDER& LARCHE, P.R. t'-O.043 (;115 from the ternination point of tha wall section refereneed in section III below and will be the obligation of "Tara Oaks 'PUO". J. Construction of an identical willl exten4ed from the east right-af-way ot stonehaven Drive along the north riqht-of-way line of LWDO LM25. This wall shall be of an appropriate lenqt:.h, not. to exceed fifty (SO) feet., in order to create a suitable accented entry. 4. Provide landscaping to the extent possible adjacent to the wall sections subject, to a finAl determination of land area availa~l.. provide landscapinq in the form of twelve (12) to fourteen (14) foot shade trees on thirty (JO) foot center in those areas where adjaoent property is available within stonehaven PUO and agrees to provide maintenance for said walls for tive (5) .yeilI's. (c) Upon it successful completion of the abandonment of stonehaven Drive, the developer/owner of the Knutb Road peo property contribute to the cost ot the construction of quard gates at the north and south entrances to stonehaven PUD up to a maximum of Thirty-Five Thousand Dollars ($35,000.00). Type and style of quard qates along with the type of electronic entrance systems to be used with these quarci gates will be determined by the Association. Upon completion or construction of all walls required to be built pursuant to this Agreement, the developer/owner of the Knuth Road peD property shall deposit into escrow, with an escrow agent reasonably acceptable to the parties, the Thirty-Five Thousand Dollar ($35,000.00) a.ount contemplated by this Agreement. These funds shall be held in an interest bearing account. Funds shall be disbursed from this account, in an amount up to Thirty-Five Thousand Dollars ($35,000.00), in satisfaction of the Knuth Road peo property owners obligation to contribute toward guard qate construction costs as set forth, in this paragraph. Upon completion of construction or d1sburseRent of Thirty-Five Thousand Dollars ($J5,OOO.00), in the a9gregate, the relllalninq funds shall be released to the Knuth Road pen property owner. (5) Installation of a traffic light in accordance with qovernmental requirements at the inter.ection of Boynton Beach Boulevard and Knuth Road. B. In consideration of the fore901nQ promi..s, the ^ssociatlon endo~se. the "l<nuth Road peo" application and requests that the members of the City planning and Zoning Board and City commission approve it. III. MTara Oaks PUD". A. Winchester agrees that, provi~ed th. requisite tinal qovern..nt approvalS for the T.ra Oaks PUD application are -5- 05/~ 2/9'( 16:39 SCHRCEDE~.& LARCHE, P.A. NO.043 GJ16 obtained, he, as the developer/owner thereot, shall make, or cause to be mads, the followin9 improvemants and other arrangements in connection with the development of the property which 1s the subject of the Tara Oaks PUD application: (1) Construction of a six (6) foot masonry wall along the north right-of-way line of LWOD L-25 from the east to a point parallel with the east property 11ne of "Tara Oaks PUD". It is the intent that his wall section connect with the stipulated wall .Bction contained in the conditions of "Knuth Road PUO'.. 'This wa.1l shall he landscaped in the same manner as the wall in II-A-(4)-(b)-4 and developer a9rees to proviae maintenance for said wall for five (5) years. (2) Creation of a twenty-f1ve (25) foot wide landscape butfer alonq th. ,north property line adjacent to the south right-of-way line of the LWDD L-25 Canal. That buffer will consist of lcmdscaping which consists of a mini.uJI of two (2) rows of shade trees twelve (12) to fourteen (14) feet in heic;rht at ti.e ot planting located on tnirty (30) toot centers. Tree location shall be staqqered to p~ovide the effect of fifteen (15) feet on canter separation. (3) No buildings shall be located closer tnan forty (40) feet from the north property 11ne of "Tara Oaks PUD". This setback creates a minimum separation of one hundred seventy- five (175) feet froM the most northerly build1nq to the closest individually owned south property line of Stanehaven PUD. 8. Based on the foregoing, the Association endorses the IITara Oaks PUD" application o.nd requests that the members of the City Planninq and Zanin; Board and City Commission approve it. IV. Mlsc.~laneou8. A. Walls contemplatad by this Aqreement shall be masonry walls provided by ^nchor Wall Systems, or similar construction, including pilaster caps on all columns with the ^ssociation approving the color and texture on ~ll such walls. B. Winehester and Schroeder agree to pay reasonable attorneys' fees ineurred cy the Association for its law firm to review this Agreement. V. Aq~eement_to nun With La~. It is the intention of the parties that the obligation to make the improvements and other arrangements described 1n this ^qreement, with respect to each of the real properties which are the subject or the applications, shall if the applications are approved, become covenants running with the land and shall be bindin9 upon the initial developer/owner ot the property and each property owner -6- 05712/0::'7 16:39 SCHROEDEE& _ARC~, P.R. ~~O. 043 Gl17 thereafter so long as that person or entity shall have an ownership interest in the property. Neither Winchester nor- Schroeder shall be under any personal obliqation to make, or cause to be made, the improvements and other arrangements provided fo~ 1n this Agreement with respect to the real pr-operties which are the subject ot the Boynton Beach Boulevard PCO, the Knuth Road peo and the Tara Oaks PUO applications if the provisions of this AgreeMent with respect to allot Buch improvements and other arrangements are, by the filing of approprIate instruments, made covenants of record running with the land and b1ndin9 upon the person or entity having fee simple title to such real properties. The ^sso~lation shall be entitled to apply to a court of competent jurisdiction and to obtain affirmative injunctive relief ~o enforce specifically the full and timely performance of thei. obligations set forth in this Aqreement concerning the ..~kin9 of such improvements and other arrangements and to enforce any such covenants of record. Any provision hereof to the contrary notwithstanding, neitber winchester nor Schroeder shall have any personal or other obliqation to make, or cause to be made, the improvements or arrangeMents provided for in' this Agreement as to any ot the properties, which are the subject of the referenced applications, unless the appl ication pertaining t.o the property in question receives all final requisite government approvals and final ordinances are adopted by the City ot Boynton Beach with respect to same. ~--r itS AS TO BILL R. WINCllES1'!R AS TO MICHAEL A. SCHROEDER, TRUSTEE (Winchester\stonQl.^9~\06/19/g0) -,- . 05;12/97 16:39 SCHROEDE~& _ARC~, P.H. .......~.....~ --,.......... hO.043 [n8 , :' .1 I ". li.~"Ji.~., ,;.;. 0 I' . . /.:'~ ..;~J' cr _/ :. :. . '., ;i'~.')~'l:t: I,' :.!" j' ..:. ". : '.1.11 ..... l~ . . \.:.' >.:.....:,..:. ,:'i;:/j';:f~~i ~ r ~.~. '.. .; .'l!'h..' ,.....;~..... ;,!-'1l'1 ~ . t f'~,:" .:'\ (j:.:.~_/:'~,~.~t;l.~ 'j .~'~.,:;. ~ .'.";'~HI'!I"'I .,r . . :', ,....: 'ri."',.', II' .. . .' I .,J:"~' " :~~I.': ~~.. .:. ....... . i'" - . , ,..' ,.. .:"'I~" '~''';.I~''I r~.I."'." .J. '1 . "":'"r!l',t."I':&j '.' .....,.... .. ".. . ,", : t 'I~ ! ..:ti:i'~"1; . .' 7. ' } KNUTH P c.o il . . . ..1 . ,"'~. i.'. . .'l"'~'; .\e. ....r:;:;;J~:.ii:i~.~\\'f; I ,.:;.' .. ...' ~. , ,. ( , .....,~I.. :~ ,. I, . ,. ,.. ..'t..l t..;";'~' N' .'1l\' '.'~ ....:.,...~ l".'{1JJ~1~,;Tt! or 'I' . ,..,~'., '.r;.~)~~ ,r.: ," . '. . 4..p' '";\ ,~~ Uf' ~. :..' ,..;.;. !~f~t~ ~~t.;, '~~~I' . '. . . . ._......,.~~A..:..,;\jll , . .. ..' 'f~~~.i1. r t...I.!", . , . 'j:".' '\', ".;'rl1 . ..' "l~-"'."~" r.;. u~ "1 ~.~~ ;. .,; i . . t,'. . fl- .: ". , 'r . 'I' ~ h ~ , I I . I . :. h.,1 . '0'" ~> .~ '. ~ ::' ~ f~ .1 . , ~ . . ~ . . .' ..! . : ''', . ~'I"\' : . /~~',1 :,.,~,.~t:f'.,l 4J"'~ i' "rot', It~ ,t, :.,. '25/12/37 16:39 SCHROEDER 1 LARCHE, P.A. 1--0.043 GJ19 , PIRST ~ TO AGRBBJaDfT TIllS PIRIT AICBRDIaDI'l' '1'0 AGUIIIBN't 1. antered 1Dto by aDel iI.twea STONBBAVIDf BOIIIIODBaS t ASSOCJATIOJf, me. , . 1'101:14. c:orporatioA ( -As.octa tiOD.) u4 BILL R. W%1ICBBSTD (-WiDell..tar-) &Del IaCD 1Jt. A. SCHROBDBa, TRUSTB. ( · SCBROIJ)I..) . 1IIIIIIUIAS, the partie. tIIlt.reel into tbat certain Agr4t-.n~ dated JUDe 1', 1"0, with r..pact to var1ou. ..t~.r. perta1Ding to the BOyJltcm .each Boulevard PCJ), KAuth ltoa4 PCD aDd. tar. Oak. PUr) (the -Agre.-mt-), aac1 .....BAS, the paz-tie. are ".lrou. of IIOcU.fyiag tJae ..-.zat in certatD re-.peet.. HOW, TlUlUPOU, ill cOD.lderat101i of the 1lU~u&1 COY_cat. Uld concU Uon8 bezoe1D cCD"iaecl mc! othel: gOQd ud valuable cQD.i4.~ation., tbe ~c.ipt aD4 .ufflcleDcy of whicb are hereby aakaowledgec!, the partie. ~a. .. 10110..: 1. AgTe~t paragraph II.A.(3) 1. hereby modified to read a. :fa11C1W.~ -Th. wall shall be built .. part of the projeot lor the cOD.t~otloa 01 tbe pre.~tly wae~leted ..peat of ltDuth Road, ~lag uortb fr~ ~. Lake WOrth Drainage District L- 25 CaDal to it. pre.ent ter.aiAu.. It i. the iDtmatloD of the parti.. that thl. roadway ..~t Dot be opeAed fo~ u.. ~y the public UD~il .uch till. a. the wall i. COD.truCted and it i. fur~he~ coat.-plated that the coat of buildiDg the wall w111 be included iD ..teli.bing the amount of ey bond or other .ecurity to be po.ted with the City of Boynton Beach in conjUAct1oD with ~o.d construction.- 2. Agr.eacat para9'Z'aph II.A. (") (b) aball be moc:liftec! to react .. follow.: .C0Il8tructloD of the fol1owizaSl' .._onry wall .egaecta, which aball occur contemporaneouslypwith the conatruotion cf the .all aeglS.ct referred to 1ft a\lJ)paragraph II.A. (3) above aDd: . . ... CS,.'-:'2/='f 16:39 SCHRCEDER 1 LARCHE, P.A. ~.o.043 GJ20 I 3. Bxcept.. ~!fiecl he&"eby, tbe Agre..eDt r_1D. in ~ull fo~c. aDd .Iteet. STOHDAnN aoNBOIfH8JtS ASSOCDTIOlf, IHe., a Pl~ld. corporation ti!.1/.~~~- ROG . . 8D1H1ft'T It.: 'r..ideDt Dat.: "*r t1/ 1'Yi'- rIif.G~'k- '! 8y, I).te. 2 SCHROED~B AND LARCHE. P.A. ATTORNEYS AT LAW ONE BOCA PLACE, SUITE 319 - ATRIUM 2255 GLADES ROAD BOCA RATON, FLORIDA 33431-7383 . ~:tC-"D N~-; 092 GJ01 ~ ,iL,#,*'"" 1J(;{5f':~_._~~ !~ . . '.. l?,. l~;j U _~.,...~,..,,"'!" .l ~ . ..1 '\":;\; \. _1 , _1- i' 05/07~7 15:57 SCHROEDER & LARCHE, P.A. , . ;, ~ , :" .: . r-"_~-''''''''''- TELECOPIER (561) 241-0798 BOCA RATON (561) 241-0300 BROWARD (954) 421-0878 TELECO~IER TRANSMITTAL SHEET BILLING NO: TELECOPY NO: 0010-053 (561) 375-6050 (561) 375-6259 (561) 375-6357 (561) 732-3993 TO: Michael fawelzcyk, Esq., Assistant City Attorney Ms. Tambri Heyden, Planning & Zoning Pirector Mr. Al NewbOld, Acting Oevelopm@nt Director Mr. Bill R. Winchester Alan Pellingra, Esq. Stonehaven HOA/Kn~th Gas Wall Construction Agreement May 7, 1997 cc: FROM: RE: DATE: SPECIAL INSTRUCTIONS: Correspondence of even date with revised proposed Wall Construction Agreement enclosed. TOTAL NUMBER OF PAGES INCLUDING THIS PAGE: 10 ORIGINAL TO tOLLOW: No CONFlDENTIAL!~Y NOTE THE INFORMATION CONTAINED IN THIS FAX 'IAANSM1SSION IS LEGAI"J.,'( PRIVILEGED AND CONFIDENTIAL INFORMATION INTENDED ONLY FOR THE USE Of THE INDIVIDUAL OR ENTITY N~O ABOVE.IF THE READER OF THIS TRANSMISSION IS NOT THE INTENDED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATICN, DISTRIBUTION OR COPYING OF THIS T~SMISSION IS STRICTLY PROHIBITED. IF YOU HI\VE RECEIVED THIS TRjll.NSMISSICN IN ERROR, PLEASE: I~DIATELY NOTIFY US BY COLLECT TELEPHONE CALL AND RETURN THE ORIGINAL TRANSMISSION TO US AT THE ADDRESS ABOVE VIA U.s. MAIL. THANK YOU IF YOU 00 NOT RECEIVE ALL OF THE ~AGES PLEASE CALL (561) 241-0300 AS SOO~ AS POSSIBLE OUR TELECO~IER NUMBE~ IS: (5611 241-0~98 125/07/97 15:57 SCH~EDER 1 LARCHE, P.A. NO.092 Gl02 SCHROEDER AND LARCHE, P. A. ATTORNEYS AT LAW 01'11: aOCA "LACE sUln 319. .\TRIUr.4 2U' GLADES Ito.\o BOCA RATON, FLORIDA ))4)1 .7383 ~'~~Tlrj . ,j ; ~.! 1. : , \j d : '.': r _ 1- ':rr,.i~ \~~~;;;i'i:L--J MjCHAfL Ii. 5C"II(l~DU W. LAWRENCE LARCH! . ALAt.lI'CWNCRA 80CA RAT01II14071 241 .0300 1I1lOWAID COUNTY (954) "~I . 0tl78 TEl[COI'IEIt 14C71 241 . 0191 . tLOI_IlA.lICWIl)~Pll'JFlIIl "Iu.5, Tllnil'$ ""0 IST"Ta .."....JR May i, 1997 VXA TBLE~O.IE. (561) 375-6054 Michael Pawelzcyk, Esq. Assistant City Attorney City of Boynton Beach City Hall 100 East Boynton Beach Bouleva~d Boynton Beach, Florida 33435-0310 Re: Construction Association, Inc. of Walls for Stonehaven Homeowners I Inc./Suilding Permit for Knuth Gas & Oil, Dear Mike: Last week I provided you with an initial draft of the Wall construction Agreement. In reviewing this draft, I noted that I did not include a provision dealing with the disbursement of any excess Escrowed Funds in the event the WallS were constructed in a timely manner. In that regard, I enclose herein a blaekline copy of the Wall Construction Agreement indicating the change made from the prior draft. ! would appreciate your contacting me as soon as possible to discuss any questions or co~~en~s which you have with respect to the Wall Construction Agreement. AP:cc Enclosure cc: Ms. Tambri Heyden. Planninq and Zoning Director (w/enclosure) Mr. Al Newbold, Acting Development Director (w/enclosure) Mr. Bill R. Winchester (w/enclosure) Michael A. Schroeder, Esq. (w/enclosure) (J:\7\cr.,n:NTS\WINCH&Sl'\BOYOIL\PAW!:LZCY.507 O~O~SO} CS/07/9r 15:57 SCH~EDER ~ LARCHE, P.A. NO.092 GJ03 WALT. COHSTRQCTIOK lLGURMRWfII This Wall Construction Agreement (the tlAgreement"l is made and entered into this day of , 1997, by and among 8ILL R. WINCHESTER, ELSIE A. WINCHESTER and M. FRANK FINFROCK, CO- TRUSTEES OF THE KNUTH ROAD TRUST DATED AS OF NOVEMBER 15, 1996 ("Winchesterll), the CITY OF BOYlIlTON BEACH, FLORIDA (the "City"), Clnd SCHROEDER & LARCHE, P.A. (tlEscrow Agent") RBC%~Al.S A. On June 19, 1990, the Stonehaven Homeowners' Association, Inc., a Florida corporation (the "Association"), Bi.ll R. Winchester (the predecessor of WINCHESTER) and MICHAEL A. SCHROEDER, TRUSTEE, entered into that certain Agreement (the "Stonehaven Agreement") pertaining to the obliqation to construct walls in connection with the (i) Boynton Beach Boulevard f.e.D.; (1i) the Knuth Road P.C.D.; and (iii) Tara Oaks PUD. The Stonehaven Agreement has been amended in that certain First Amendment to Agreement dated May 17/ 1996 (the Stonehaven Agreement, as amended shall hereinafter be referred to as the "Stonehaven Agreement It). A copy of the Stonehaven Agreement is attached heret:o as Exhibit "B". B. described to Knuth Oi 1") . On October 8, 1996, Winchester sold t~e property on Exhibit "A" attached hereto (the "l<nuth Gas Property") Gas & Oil, rnc., a Florida corporation ("Knuth Gas & c. Knuth Gas & Oil desires to develop the Knuth Gas Property as a service station. D. The City has required that the walls to be constructed pursuant to Sections II and III of the Stonehaven Agreement (the "Wallstl) must be constructed prior to the issuance to Knuth Gas & Oil of a building perm1t fer the construction of the service station. E. The City has agreed that the ccndi tion specified in recital D aoove shall be deemed satisfied if Winchester delivers to the Escrow Agent a cash bond in an amount equal to one hundred and ten percent (110%) of the cost of construet1nq the Walls. F. The cost of constructing the Walls is Eighty Thousand Eight Hundred Fifty ($80,850.00) Dollars. G. Winchester has agreed to deliver to Escrow Agent the sum of Eighty-Eight Thousand Nine Hundred Thirty Five and no/lOO ($88,935.00) Dollars (the "Escrowed Funds") which is equal to 110% of the cost of constructing the Walls. H. The parties have agreed to enter into this Agreement to confirm (i) that the delivery of the Escrowed F~nds to the Escrow Agent shall satisfy the condition precedent to the issuance to Knuth Gas & Oil of a building permit for the construction of the service station; and (i1) the terns and conditions under whiCh the 05/07/37 15:57 SCHRCEDER & LARCHE, P.A. t'-0.092 GJ04 E~crow Agent shall hold and disburse the Escrowed Funds. NOW TKBREPOaB, in consideration of the covenants and agreements contained herein, and other good and valuable conSideration, the receipt and suffi~iency of which are hereby acknowledged, the parties hereto agree a~ follows: 1 . Reei t:als . correct. The recitals set forth above are true and 2. S~t1s~ao~ion o~ ~ondi~1oQ. The City hereby a9ree~ that the requirement that the Walls be constructed as a condition precedent to the issuance of a building permit for the construction of a service station on the Knuth Gas Property shall be deemed satisfied by the delivery to Escrow Age~t of the Escrowed Funds in accordance with the terms of this Agreement. 3. De1i..".ex:y of! ZSClrowed Funds. The Escrow Agent hereby acknowledge~ that Winchester has delivered to the Escrow Agent the Escrowed Funds. 4. COft8~rUC~10ft oE the Wal~. Pursuant to the terms of the Stonehaven Agreement, Winchester has agreed to construct the Walls. It is anticipated that construction of the Walls ~ill commence on or around August I, 1997 and be completed no later than December 31, 1997 (the "Completion Date"). 5. Di.b~r8em.ft~ Qf m.ero~ed gunda. The Escrow Agent shall hold the E~crowed Funds in escrow and shall disburse them strictly in accordance with the terms and conditions of this Agreement. 6. Disbu%sement Prio~ to Co~pl.tion Da~.. The Escrow Agent shall be permitted to disburse, from ti~e to time, the Escrowed Funds to the contractor hired by Winchester to construct the Walls upon presentment by such contractor of a request for payment and the approval of the request for payment by the City. The City agrees to approve the reque~t for payment, provided there are sufficient Escrowed Funds remaining with the Escrow Agent to complete construction of ~he Walls. O,pCft "comple~ian" (as hereinafter def~ned) a~ the Walls. Egero!9"- Agent. shal::J. disburse the baleru::. oE ~. Escra"ed Funcin to W.inche8ter. "C~let.i.on1f shall mean ~h. date Oft which Escrow Aaent i.s pro:v:ided. wi.t:h li) approval and .oo~tanc. o( the Wal18... by i:h. Cit.y. and Iii) a Final Cont:~aetor'. M~ielavii: and a.l.as8 of Li.eft :Erom ~he cont:raet.oz:: co.ns~ruc'ti.nq :the Walls. iftc:li.C!a't1ftq that al~ ".rsons provi.~nCl laboz. material or .ervic98 have heen p~i.d in full. 7. Di.sburs81'M!lnt Sul:)I!le~.ftt: to eo~plet:.:i.cm. Date. In the event construction of the Walls is not completed by the Completion Date, the City may either (i) agree to extend the comp~etion D~te, . or (ii) complete the construction of the Walls by e~ther ut~l~z~ng City employees or an outside contractor. If the City elects option (ii), the Escrow Agent is hereby authorized to di5burse the balance of the Escrowed Funds to the City. Notwithstanding the decision of 2 125/07/3'7 15:57 SCH~EDE~ & LARCH~, P.A. NO.092 GJ05 the City to exercise option (ii), Winchester agrees that in the event the Escrowed Funds are insufficient to complete construction of the Walls! Winchester shall provide the City with any additional tunds needed to complete construction within three (3) days of wri tten notice. Addi tionally, in the event the Escrowed Funds exceed the cost of constr\;cting the Walls! the City agrees to refund the difference to Winchester. 8. G@ft~ra~ Eeorow Provisions. A. Escrow Agent shall deposit the Escrowed Funds in an interest bearing escrow account. The interest earned shall be deemed part of the Escrowed Funds. B. Escrow Agent shall not be deemed to have knowledge of any matter or thing unless and until Escrow Agent has actually received written notice of such Mateer or th!ng and Escrow Agent shall not be charged with any constructive notice whatsoever. c. Escrow Agent's responsibilities are purely ministerial in nature. Any reduction in the ma~ket value of the Escrowed Funds while deposited with Escrow Agent shall be at the $ole risk of Winchester. Escrow Agent has no ducy to invest the Escrowed Funds except as provided herein. Escrow Agent shall have no liability in the event. of any insolvency of any depository, failure of any depository to pay inte~est or other earnings on sums deposited or should such depository fail, or refuse to release sums deposited or delay in the release or disbursemer.t of same, it being understood that Escrow Agent's sole obligation is to deposit the funds in an intere$t bearing account and to authorize disbursement therefrom in accordance with the provisions hereof. D. In the event Escrow Agent shall be uncertain as to its duties or richts hereunder or shall receive instructions, claims or demands from the City or Winchester with respect to the Escrowed Funds or any other s\.:ms or things which may be held hereunder, which, in its sole opinion, are in conflict with any provision of this Agreement, Escrow Agent shall be entitled to refrain from taking any action until it shall be directed otherwise in writing by the City and Winchester or by a final order or judgment of a court of competent jurisdiction. E. It is agreed that the duties of Escrow Agent are purely ministerial in nature and shall be expressly limited to the safekeeping of the B"crowed Funds or deposit of same into r.he account hereinafter specified and for the disposition of same in accordance with this Agreement. Winchester hereby indemnifies Escrow Agent and holds it harmless from and against any and all claims, liabilities, damages, costs, penalties, losses, actions, suits or proceedings at law or in equity, or any other expenses, fees or charges of any character or nature, which it may incur or with which it may be threatened, whether directly or indirec~ly ariSing from or in any way connected with this Agreement, or whlch may result from Escrow Agent' $ following of instructions from 3 05/07/97 15:57 SCHROEDER & _ARCHE, P.A. NO. 092 Gl05 Winchester or the City, and in connection therewith, indemnifies Escrow Agent against any and all expenses, including attorneys' fee~ a~d the cost of defending any action, suit, or proceeding or res~st1ng any such claim, whether or not litigation is instituted. F. It is further agreed that Escrow Agent shall have the right to utilize the services of MattIin and McCloskey, or any other law firm selected by Escrow Agent, as its attorney and same shall not affect or in any way prejudice or limit Escrow Agent's entitlement to reasonable attorneys' fees for the services of such attorneys as set forth in this Agreement. G. In the event Escrow Agent is joined as a party to a lawsui t by virtue of the fact that it is holding the Escrowed Funds, Escrow Agent shall, at its option, either (11 tender the Escrowed Funds to the registry of the appropriate court or (2) disburse the Escrowed Funds in accordance with the court's ultimate disposition of the case. H. In the event Escrow Agent tenders the Escrowed Funds to the registry of the appropriate court and files an action of interpleader naming the City and Winchester, Escrow Agent shall be released and relieved from any and all further obligation and liability hereunder or in connection herewith. I. This Escrow Agreement !hall remain in effect unless and until it is canceled in any of the following manners: (1) Escrow Agent may resign as Escrow Aqent at any time upon giving notice to the City and Winchester of its desire to eo resign; provided, however, that resiqnation of Escrow Agent shall take effect no earlier than ten (10) days after the giving of notice of resignation; or (2) Upon compliance with all escrow provisions as set forth in this Agreement. J. In the event t~e City and Winchester fail to agree to a successor escrow agent within the period described hereinabove, Escrow Agent shall have the right to deposit all of the Escrowed Funds held hereunder into the registry of an appropriate court and request judicial determination of the rights between Winchester and the City, by interpleader or other appropriate action, and Winchester hereby, indemnifies and holds Escrow Agent harmless from and against any damages or losses in connection therewith incl~ding, but not. limited to, reasonable attorneys' fees and court costs at all tr:al and appellate levels. K. Upon termination of the dJties of Escrow Agent in either manner set forth in subparag~aph I of this Section, Escrow Agent shall deliver all of the Escrowed Funds to the newly appointed escrow agent designated by Winchester and the City. 4 ~~5/(l7/'3';" 15:57 SCHROEDER & ~HRCHE, P.A. t'-.0.0'32 Gl07 L. All notices, certificates, requests, demands, materials and other communications hereunder shall be in writinq and deemed to have been duly given (1) upon delivery by and to the appropriate address of Winchester, che City or Escrow Agent as set forth in this AgreeMent or (2) on the third business day after mailing by United States registered or certified mail, return receipt requested, postage prepaid to such address. All notices hereunder shall be addressed to the respective parties at the followin9 addresses: For Escrow Agent: SCHROEDER AND LARCHE, P.A. ONE BOCA fLACE, SUITE 319, ATRIUM 2255 GLADES ROAD BOCA RATON I FL 33431-7313 For Winchester: MR. BILL R. WINCHESTER P. O. DRAWER 1240 BOYNTON BEACH, FLOR!OA For the City: THE CITY OF BOYNTON BEACH c/o CITY ATTORNE~'S OFFICE P. O. BOX 310 BOYNTON BEACH, FL 33425-0310 33435 9. Cbo~ce of Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. 10. Binding 6gr..m.n~. This Agreement shall be binding upon the parties hereto and their respective successors and/or assigns. 11. Coun~~a~~s. This Agreement may be executed in counterparts and all counterparts taken toqether shall be deemed one and the same instrument. IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first above written. (Sap_tuns are cont:inued em next: paqe.) 5 eS/07/37 15:57 SCHROEDER & LARCHE. P.A. NO.092 Gl08 Signed, sealed and delivered in the presence of: Print Name of Witness Print Name of Witness Print Name of Witness Print Name of Witness Print Name of Witness Print Name of Witness CITY OF BOYNTON BEACH, FLORIDA By: Its: SCHROEDER AND LARCHE, P.A., By: Michael A. Schroeder, Its: President Bill R. Winchester, as Co-Trustee of The Knuth Road Trust Dated as of November 15, 1996 J:\7\CLIENTS\WINCHEST\BOYOIL\WALL.COH 1215-01 6 @5/07/97 15:57 SCHROEDER & LARCHE, P.A. t'-iO.092 Gl09 EXHIBIT "A" LEGAL DESCRIPTION That part of Lots C, 0, and E, Tract 9, THE PALM BEACH FARMS CO. PLAT NO.8, of Section 30, Township 45 South, Range 43 East, Palm Beach County, Florida, according to the Plat thereof recorded in Plat Book 5, Page 73, of the Public Records of Palm Beach County, Florida, described as follows: Commence at the point of intersection of the East line of said Tract 9, with the South right-of-way line for State Road 804, as said South right-of-way line is shown in Road ?lat Book 2, Page 219, of the Public Records ot Palm Beach County, Florida; thence South 88028'40" West along said right-oi-way line 15.01 feet to the POINT OF BEGINNING: :hence continue South 88028t40" West, along said South right-at-way line 1€S.07 feet; thence South O.OO'OO~ East, 264.00 feet; thence North 9000C'OO~ East, l6S.00 feet to a line 15 feet East of and parallel with the said line of Tract 9; thence North 01100100" East, along said parallel line 268.92 feet to the said POINT OF BEGINNING. 7 C5/07/97 15:57 SCHROEDER & LARCHE, P.A. EXHIBIT "BU Aqreernent with Stonehaven Homeowners. Association 8 NO.092 Gl10