87-DDRESOLUTION NO. 87-D~
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF BOYNTON BEACH, FLORIDA, RELEASING THE PERFORMANCE
BOND FOR THE ACCESS ROAD AND THE JOGGING PATH FOR
BETHESDA PARK, P.U.D. IN SECTION 33, TOWNSHIP 45
SOUTH, RANGE 43 EAST, AS RECORDED IN PLAT BOOK 46,
PAGE 77 OF PALM BEACH COUNTY RECORDS
WHEREAS, a performance bond in the amount of $5,000.00,
(previously reduced from $25,000 by Resolution No. 84-DDDD), was
posted for the construction of the private access road and the
jogging path, and,
WHEREAS, the Building Official and the City Engineer have
determined that the work has been satisfactorily completed,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
CITY OF BOYNTON BEACH, FLORIDA, THAT:
The Performance bond is hereby released.
PASSED AND ADOPTED THIS ~day_ of~/,~?
CITY OF BOYNTON BEACH, FLORIDA
,1987
By: ~~¢~
C mm[ssioK M--~~
(Corp, Seal)
P ERFORMANC E
BOND
~OW ALL MEN BY THESE PRESENTS:
That BETHESDA PARK DEVE~0PMENT CORP~ {hereinafter called the
rincipal ), and AETNA CASUALTY g SURETY CO. _, -a surety company
~thorized to do business in the State of Florida (hereinafter called
e "Surety"), are held and firmly bound unto the City of Boynton
Beach, a municipal corporation of the State of Florida (hereinafter
called the "City"), in the full and just sum of $25,000
lawful money of 'the United States of America., to be paid to the City,
/~o which pay~.ent well and truly to be made we bind ourselves, our
airs, executors, admin~istrators, successors and assigns, jointly
and severally, firmly by these presents:
WHEREAS, the above bounded Principal, as a condition precedent
o the approval by the City of a plat of a certain subdivision known
s BETH[SDA PARK , has submitted engineering and
ther construction plains for the Required Improvements prescribed by
the_Subdivision and Platting Regulations of the City, pertaining to
the said subdivision (hereafter referred to as the "Subdivision Improve-
ments Plans"), copies of which plans are attached hereto and by
';ference made a part hereof; and
WJ~EREAS, it was one of the conditions of the said Subdivision
and Platting Regulations that this .bond be executed; ~
NOW, THEREFORE, the conditions of this obligation are such thmt
_ ~ the above bounded Principal shall in all respects perform the
Subdivision Improvements Plans within the time specified in the Sub-
division mud Platting Regulations of the City, and shall indemnify
~'~nd save harmless the City against or from all claims, costs, expenses,
a.mages, injury or loss, including engineering, legal and contingent
osts which the City may sustain on account of the~...~ail~ura~.of. ~-the
rincipml to perfoz~n the Subdivision Improvements Plans within the time
specified in .the said Subdivision and Platting Regulations, then this
obligation shall be void; otherwise to be and remain in full force and
~ ffect.
THE SURETY UNCONZDiTIONALLY COVENANTS AND AGREES THAT if the
Principal fails to perform all or any part of the const, ruction work as
set forth in the Subdivision Improvements Plans, within the time
~ecified, 't.he Surety will forthwith perform and complete the said
~._onstruction work and pay the cost thereof, including, but not limited
to, engineering, legal and contingent costs, and will indemnify and
save harmless the City as ~forcsaid. Should the Surety fail or refuse
~eo perform and complete the said improvements, the City; in view of the
ublic interest, health, safety and welfare factors involved and the
nducement in approving and filing the said plat, sh~ll have the right
~o resort to any and all legal remedies against the Principal and the
Surety, or either, both at law and in equity, including specifically
specific performance, to which the Principal and Surety unconditionally
~9ree.
~ THE PRINCIPAL AND THI{ SURETY FOqlTI!ER JOINTLY AND SEVERALLY AGREE
'. T the City, at its option, shall have the right to construct or,
pursuant to pu])].ic ndvertisement and receipt of bids, cause to be
constructed the aforesaid improvements in case the Principal should
or refuse to do so in accordance with the Subdivision Improvements
.]ns and within the time specified, and in the event the City should
-~rcise and give effect to such right, the Principal and the Surety
]11 be jointly and severally liable hereunder to reimburse the City
the total cost thereof, including, but not limited to, engineering,
legal and contingent costs, together with Dny damages, either direct
consequential, which may be sustained on account of the failure of
Principal to carry out and perform the Subdivision Improvements
within the time specified.
IN WITNESS WqlEREOF; the Principal and
t~hese presents this llth day of Auqust
dress:
the ~urety have executed
BETHESDA PARK DEVELOPMENT CORP.
Vice President
1001 N.W. 62nd street Suite 404
Fort Lauderdale, FI 33309
~itnesses:
Avenue. Su|te ]00
M;ami, Florida 33169
AETNA CASUALTY & SURETY CO.
(its attorney-in-fact,
Power of Attorney to
be attached)
ATTEST :!
Witnesses:
//~ /?
-i t'
! TEN ~ ZAT I ON
Jogging Path
$10,000
Access Road to S.W.
23rd Avenue (Golf Road) .$}5,000