FIRST AMENDMENT TO AGREEMENT FOR DEVELOPMENT OF PROPERTY
PREP ARED BY AND WHEN RECORDED RETURN TO:
FIRST AMENDMENT TO AGREEMENT FOR DEVELOPMENT
OF PROPERTY IN THE CITY OF CLEAR WATER
BETWEEN
THE CITY OF CLEARWATER, FLORIDA
AND
K & P CLEARWATER ESTATE, LLC
DA TED AS t'Y\"'rc.~ ~~, 2006
KEN BURKE, CLERK OF COURT
PINELLAS COUNTY FLORIDA
INST# 200611839303/3112006 at 08:40 AM
OFF REC BK: 15023 PG: 1494-1500
DocType:AGM RECORDING: $61.00
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First Amendment to K & P Clearwater Estate LLC Development Agreement 2/28/06
THIS FIRST AMENDMENT THE DEVELOPMENT AGREEMENT (the
"Amendment") is made as of this ~ay of ~ , 2006 (the "Effective Date"), by and
between THE CITY OF CLEARWATER, FLORIDA, a Florida municipal corporation (the
"City") and K & P CLEARWATER ESTATE, L.L.C., a Florida limited liability company (the
"Developer") .
WITNESSETH
WHEREAS, the City and the Developer are parties to that certain Development
Agreement as recorded in O.R. Book 14168, Pages 2397-2528, Public Records of Pinellas
County, Florida (the "Development Agreement"); and
WHEREAS, the City and the Developer desire to amend certain terms and provisions of
the Development Agreement, as more fully set forth herein below.
NOW, THEREFORE the City and the Developer agree as follows:
1. Section 5.03 paragraph 8. is hereby amended to read as follows:
8. Approval of Plans and Specifications for the South Gulfview and
Beach Walk Improvements. The City shall prepare plans and specifications and budgets for
the South Gulfview and Beach Walk Improvements. The City shall make available drafts of
such plans, specifications and budgets to the Developer for review and comment. The City shall
consider the Developer's comments and recommended changes in the plans, specifications and
budgets to the extent that the matter on which the Developer is commenting materially impacts
the Developer or the Project. The City and the Developer agree that the design of those South
Gulfview and Beach Walk Improvements adjacent to the Project Site shall be coordinated with
the design of the Project as provided in this Agreement below, and, for that purpose, the City
shall make available to the Developer copies of the, plans, specifications, and related
construction and landscaping contracts, drawings and schedules finally approved by the City.
Additionally, the City agrees to include the construction of Relocated First Street as an alternate
when soliciting bids for the construction of the Beach Walk and South Gulfview Improvements.
2. Section 5.03 paragraph 9. is hereby amended to read as follows:
9. Timely Completion. The City and the Developer recognize the importance of
the timely completion of the proposed Project and of the completion of South Gulfview and
Beach Walk Improvements, and time is deemed to be of the essence. The City considers this
Agreement as overall authority for the Developer to proceed to obtain all required permits, and
agrees to implement a fast-track review, permitting, and inspection program for the Project. The
City agrees to use reasonable efforts to complete the required public improvements including the
widening of Coronado, and the realignment of South Gulfview and the construction of Beach
Walk Improvements along the boundaries of the Project Site, prior to the issuance of the
certificate of occupancy for the Project, contingent upon payment by Developer of Developer's
Pro Rata Share (defined herein) to the City prior to the City awarding the construction contract
First Amendment to K & P Clearwater Estate LLC Development Agreement 2/28/06
2
3. Section 5.05 paragraph 3 is hereby amended to read as follows:
5.05. Obligations of the Developer.
3. Relocated First Street. The Developer shall convey to the City of Clearwater by
General Warranty Deed, with title therein insured for not less than $500,000 by a nationally
recognized underwriter of Title Insurance authorized to conduct business in the State of Florida,
the real property for Relocated First Street as described in Exhibit N to the Development
Agreement on or before March 30, 2006. In the event that Developer has not removed all
improvements from the property to be conveyed before March 30, 2006, the City shall complete
the demolition and the Developer shall reimburse the City for all costs incurred. Such
reimbursement shall be made within 30 days of demand by the City. Additionally, the
Developer shall either complete construction, at Developer's cost, of all the necessary
improvements for the Relocated First Street, including pavement, sidewalks and streetscaping on
or before June 1, 2009; or, notify the City by no later than January 2, 2009 that Developer elects
to have the City construct Relocated First Street at Developer's expense. Further, in order to
maintain traffic after the completion of Phase II of Beach Walk, Developer shall construct at its
expense, a temporary roadway of no less than two twelve-foot lanes and one ten-foot sidewalk
within the right of way of the Relocated First Street by no later than the completion of Phase II
of Beach Walk by the City. Concurrent with the conveyance of the property to the City, the
Developer shall establish a letter of credit, trust account or escrow facility, which shall be subject
to the approval and acceptance of the City, in the amount of Two Hundred Forty-one Thousand
Five Hundred Dollars ($241,500) for the payment of the estimated cost of construction of
permanent Relocated First Street and Ninety Six Thousand Dollars ($96,000) for the payment of
the estimated cost of construction of the temporary Relocated First Street. In the event the
Developer elects to have the City construct the Relocated First Street as provided herein, and the
cost of construction exceeds Two Hundred Forty-One Thousand Five Hundred Dollars
($241,500), Developer shall be responsible for all such costs and shall make payment to the City
upon demand. A representative cross section reflecting such improvements is attached hereto as
Exhibit N
First Amendment to K & P Clearwater Estate LLC Development Agreement 2/28/06
3
IN WITNESS WHEREOF, the parties hereto have set their hands and their respective
seals affixed as of the date set forth in the first paragraph of this Amendment.
THE CITY OF CLEARWATER, FLORIDA
Countersigned:
By: ~.,~ f<'~
~nk V. Hibbard, Mayor
BY~~~
Wi liam B. Home II, City Manager
Approved as to form:
ATTEST:
By:J-
Pam la K. Akm, CIty Attorney
hia ~.(Joudeau, City Clerk
:.; " ,. ,,11 :;, "
STATE OF FLORIDA )
)
COUNTY OF PINELLAS )
The foregoing instrument was acknowledged before me this ::2.0 day
of '7n ~ , 2006 by William B. Home, II, the City Manager for the City of
Clearwater, Florida, on behalf of the City.
~c,Yr~
Notary Public - Signature
Print Name: D/AAlt: €. H A Wi'll
My Commission Expires:
, DiANE E MANNI
~~ MY COMMISSION * 00526033
.,....' EXPIRES: Mar.6.'20l0
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First Amendment to K & P Clearwater Estate LLC Development Agreement 2/28/06
4
STATE OF FLORIDA )
)
COUNTY OF PINELLAS )
The foregoing instrument was acknowledged before me this o1...c> day
of ~ ' 2006 by Frank V. Hibbard, the Mayor for the City of Clearwater,
Florida, on behalf of the City.
~t..~
Notary Public - Signature
PrintName:0.1~nI€ C, f1~rlNI
)
)
)
My Commissi n~~es: DIANE E MANNI
.,. ~ '" MY COMMISSION" 00526033
"-tfllf\'~ EXPIRES: Mer. 6,2010
(407) 388-0153 Florida NoIary s.wc..com
Witness:
day
The instrument was acknowledged before me
of 6 by Cynthia E. Goudeau, the City Clerk for t
Clearwater, Florida, on beha the City.
;;Ii
~ /
,'I' V .
OWNER:
/tr/!:M
edN e:
By:
Dr. Kira
Me er 0 dings, L.C.,
Ge eral Partner of K & P
PARTNERS LIMITED
PARTNERSHIP, A FLORIDA
LIMITED PARTNERSHIP,
Managing Member of K & P
Clearwater Estate, LLC
First Amendment to K & P Clearwater Estate LLC Development Agreement 2/28/06
5
STATE OF FLORIDA )
)
COUNTY OF PINELLAS )
\. The foregoing instru acknowledge before me this Z:e'~ day
of ~c.k\ ,2006 by (' C. , as of
K & P Holdings, L.C., General Partner of K & P Partners Limited Partnership, a Florida Limited
Partnership, Managing Member of K & P Clearwa rEstate, LLC.
.. ............, EVER D. MYMt
IIIIl ",~~v Pl/8',
l<,~. (~:. Notary PubIc . ... of Florida
~. · .iMt'Q.....tIIlb......Dec2.2lXB
;~~ ~ COmmIIIIon # DO 376414
. .lit'- Ilonded Bv NaIonaI Notary Assn.
My Commission Expires:
12/2-/ ZOOg/
I I
First Amendment to K & P Clearwater Estate LLC Development Agreement 2/28/06
6
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2' CURB & GUTTER 2' CURB & GUTTER
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TYPICAL CROSS SECTION
Not To Scole
EXHIBIT N