AMENDED EXHIBIT C TO JPA AMENDMENT CLEARWATER MEMORIAL CAUSEMENT EAST BRIDGE DATED 01-05-01
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AMENDMENT
CITY OF CLEARWATER
FPN: 257093 1
FORMER WPI: 7117181
AMENDED
EXHIBIT C
MEMORANDUM OF AGREEMENT
THIS AMENDED AGREEMENT, made and entered into this ~ q7;J. , day of JANUA..ey
20~ by and between the State of Florida, Department of Transportation, hereinafter referred to
as "DOT" and the State of Florida, Department ofInsurance, Division of Treasury, hereinafter
referred to as "Treasury" and the City of Clearwater, hereinafter referred to as the "Participant"
replaces the original Memorandum of Agreement dated June 27, 1997.
WITNESSETH
WHEREAS, "DOT" is currently constructing the following project:
Financial Project No.: 257093 1 (Formerly, WPI: 7117181, SPN: 15220-3599)
F.A.P. No. nJa
County : Pinellas
hereinafter referred to as the "Project".
WHEREAS, DOT and the participant entered into a Joint Participation Agreement
dated June 27. 1997, wherein DOT agreed to perform certain work on behalf of the Participant in
conjunction with the Project.
WHEREAS, the parties to this AGREEMENT mutually agreed that it would be in the
best interest of the DOT and the Participant to establish an interest bearing escrow account to
provide funds for the work performed on the Project on behalf of the Participant by the DOT.
NOW THEREFORE, in consideration of the premises and the covenants contained herein,
the parties agree to the following:
1. An initial deposit in the amount of$38.065.077 (Thirty eight million, sixty five thousand,
seventy seven dollars) will be made by the Participant into an interest bearing escrow account
established by the Department for the purposes of the project. Said escrow account will be
opened with the Department of Insurance, Division of Treasury, Bureau of Collateral Securities
on behalf of the DOT upon receipt of this Memorandum of Agreement. Such account will be an
asset of DOT.
2. Other deposits will be made only by the Participant as necessary to cover the cost of additional
work prior to the execution of any Supplemental Agreements or Amendments.
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AMENDMENT
CITY OF CLEARWATER
FPN: 257093 1
FORMER WPI: 7117181
3. AIl deposits shall be made payable to the Department of Insurance. Revenue Processing and
mailed to the DOT Office of Comptroller for appropriate processing at the following address:
Florida Department of Transportation
Office of Comptroller
3717 Apalachee Parkway, Suite E
Mail Station 24
Tallahassee, Florida 32311
ATTN: JP A Coordinator
4. The DOT's Comptroller and/or his/her designees shall be the sole signatories on the escrow
account with the Department of Insurance and shall have sole authority to authorize withdrawals
from said account.
5. Unless instructed otherwise by the parties hereto, all interest accumulated in the escrow
account shall remain in the account for the purposes of the project as defined in the JPA. Upon
request and after final completion of the project, remaining funds and interest will be refunded to
the City.
6. The Treasurer agrees to provide written confirmation of receipt offunds to the DOT.
7. The Treasurer's Office further agrees to provide periodic reports to the DOT.
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S~ORIDA
DEPARTMENT OF TRANSPORTATION
COMPTROLLER
(See Signature Page Attached)
CITY OF CLEARWATER
P.O. BOX 4748
CLEARWATER, FLORIDA 34618-4748
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STATE O~RIDA
DEPARTMENT OF INSURANCE
DIVISION OF TREASURY
5960000289
CITY OF CLEARWATER
P.O. BOX 4748
CLEARWATER, FLORIDA 34618-4748
FEDERAL EMPLOYER J.D. NUMBER
CITY ATTORNEY
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Countersigned:
CITY OF CLEARWATER, FLORIDA
By:
tfJdLJ3L...-r
William B. Horne, "
Interim City Manager
Approved as to form:
Attest:
ane C. Hayman
Assistant City Attorney
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