AGREEMENT RE LITTLE PASS (SAND KEY) BRIDGE
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A G REi M ~ N T
WHE,UAS, the CITY OF CL;.l,{,fAT,R has heretofore
validated $1,500,000.00 in revenue certificates for financing
the construction of LITTLE PASS B1UDGE extending from the South
end of Clearwater Beach Island to the North end of Sand Key, and
4Hi'.:1(J!:AS, it is now necessary that the City be assured
that the approach roads connecting said bridge to the aforesaid
islands are completed as a part of the Little Pass Bridge facility
within the net proceeds received by said City from the sale of
said certificates or from a contingency fund to be provided for as
hereinafter set forth, and
,mGR,';AS" the City of Clearwater is in the 1Jroces s of
or has amended the ltevenue Cel'tificate Validation Ordinance for
Little Pass Bridge so as to nermit the use by said City of surplus
funds for the purpose of assuring the costs for the construction
of the approach roads to said bridge over and across Sand Key
and the City of Clearlvater has also been assured by the Bayside
Hotel Company for all costs of connecting the approach roads on
Clearwater H2ach Island to, said Little Pass Bridge, and
}:-Ui\EAS, the City has assurance from Hardaway Contracting
Company that the costs of construction of said connecting roads
shall not exceed the sum of $270,000.00 and has a bid from said
Hardaway Contracting Company for the construction of said bridge
in the amount of $802,928.90, and
!dHEllEAS, the City's fiscal agent, Goodbody & Co., Inc.
has advised the City of the amount of surplus proceeds which will
remain from the anticipated sale of said bonds over and above the
aforesaid construction bid for said bridge, which said proceeds
could be applied to the construction of said connecting roads, and
'iv'HEKEAS, J<;D. C. hTEGGHT has assured the said City of
Clearwa ter that he ,viI} deposi t ,vi th the City a contingency fund
in an amount sufCicient to save the City harmless of and from all
costs of the entire facility which exceed the net proceeds to the
City from the sale of said revenue certificates when sold, and
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jiHEd.,';AS, the City of Clearwater finds that said bridge
project and connecting roads can be completed from the above
proceeds, together with the contingency fund, for the approach
roads on the North and as secured by the nayment and performance
bond of Bayside Hotel Company for the approacn roads on the :{orth
as hereinabove set forth, and
',V1MI<EAS, the County of f ine:L'_as and the S ta te {{oad
Department of Florida may ultimately allocate secondary road
fund proceeds for the payment of all or part of tlh~ co; ts of said
connecting roads which exce'2d the net proce(;ds of said revenue
certificates; provided, however, in order to assure inunediate
conunencement of said lJroject prior to December 31, 1961, such
deficiency shall be furnished by said contingency fund and said
payment and performance bond as hereinabove set forth.
NO'\{ THiREFO,m, in consideration of the mutual promises
of the parties hereto and the sum of ONE DOlLAR and other valuable
considerations, the parties do hereby agree as follows:
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said bonds to be liquidated and used by the City of Clearwater
as a contingency fund for any deficit incurred by said City in
its construction of said Little Pass Bridge and the approach
roads and necessary fill incident thereto under conditions herein
set forth and in accordance with plans and specifications for
said bridge and roads now on file with the City of Clearw'ater.
4. That the Bayside Hot el Company will simultaneously
amend its payment and performance bond to guarantee the construc-
tion of the approach roads on Clearwater Beach Island connecting
the North end of sa,id bridge ,.ith Gulfview B'~ulevard through
its property;
5. In the event secondary road funds shall hereafter
become available as a joint participation by the County of Pine lIas
and/or the State Hoad Department of Florida, such funds shall be
used to pay all or part of the cost of connecting roads aforesaid.
6, Nothing herein contained shall alter or modify other
hereto.
existing contractual obligations bet\Veen the respective parties
.HTNESS our hands and seals this /..f'..e:r:iay of~t' Jk
A. D. 1961, at Clearwater, Pinellas County, Florida.
WI'l'Nl!;S::,)':ES :
( SEAL)
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As to I,d . C. \VriJ:
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~;rAttor~'-
BAY,'HM HOT~L COMPANY
By ~~~.h
Its President
ATTEST:
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ADDENDUM TO CONTRACT DATED lft,oj DAY OF
tV". t._I......- , 1961, BETWEEN CITY' OF
CLEARWATER, BAYSIDE HOTEL COMPANY, INC.,
AND ED C. WRIGHT
Contract
WHEREAS, the CITY' OF CLEARWATER entered into a certain
dated i' 3dday o~, 1961, between itself,
BAYSIDE HOTEr.. COMPAlSIY, INC., and ED C. WRIGHT, for the purpose- of
assuring the City of Clearwater that it would be saved harmless
on account of expenses incurred for the construction of Little Pass
(Clearwater pass) Bridge and approach roads thereto, same to be
paid from the net proceeds of the Little pass Revenue Bond Issue,
Chancery No. 56,912; and
WHEREAS, the City of Clearwater has now received firm bids
for the approach roads to said bridge and is in the process of
entering into a Contract for the construction of said approach roads
with W. L. Cobb Construction Company, same being the low bid therefor
in the amount of $263,000.00, more or less; and
WHEREAS, it is now expedient for the parties hereto to
modify said Contract, specifically paragraphs 3 and 4, and add
paragraphs 7 and 8, in the light of bids for said approach roads
which have this day been received by said City and to such extent
supercede said Contract by the following addendum,
NOW THEREFORE, IT IS AGREED AS FOLLOWS, TO-WIT:
1. paragraph 3 on pages 2 and 3 of said Contract is
amended to read as follows, to-wit:
"3. ED C. WRIGHT has simultaneously placed with
the City of Clearwater $100,000.00 of negotiable
bonds - Los Angeles Metropolitan Transit Autho.rity
5 3/4% Revenue Bonds, Series 1958, dated March 1,
1958, due March 1, 1983, being Nos. M24304 to 24403,
inclusive, with March 1, 1962, and subsequent coupons
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attached, actual receipt of which is hereby acknow-
ledged, and same having been found to be satisfactory
by the city of Clearwater; said bonds to be liquidated
and used by the city of clearwater as a contingency
fund for any deficit incurred by said City in its
construction of said Little Pass Bridge and the
approach roads and necessary fill incident thereto
under conditions therein set forth in accordance
with plans and specifications for said bridge and
roads prepared by the J. E. Greiner Company now on
file with the City of Clearwater; said bonds are
further held by the City of Clearwater for the purpose i
of assuring said City as well as all others legally
entitled that all necessary costs for Little~ss~ ./~
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(clearwater Pass) Bridge and approach roads" ch /~'
exceed the net proceeds derived from the Revenue Bond ,J41 r(
Issue (Chancery No. 56,912) will be paid from said
contingency fund without expense to the city of Clear-
water, but limited to such expenses incurred by the
said City until construction of said facility is
completed."
"4. That Bayside Hotel Company, Inc., has simul-
taneously placed with the city of Clearwater, U. s.
Government bond.s in the amount of $16,000.00 as
follows. The United states of America- 2~
Treasury Bonds, to-witl
$5,000.00 No. 73B7H of 1963-68
$1,000.00 No. ll7489K of 1964-69
$5,000.00 No. 5831A of 1964-69
$5,000.00 No. 4135& of 1964-69,
together with coupons attached, actual receipt of which
is hereby acknowledged, which shall be in lieu of its
payment and performance subdivision bond previously
on file with the City of Clearwater to guarantee con-
struction of the approach roads on Clearwater Beach
Island connecting the North end of the bridge to
Gulfview Boulevard with its property. The aforesaid
U. S. bonds shall be held by the City of Clearwater
under the same conditions as are hereinabove set forth
pertaining to the bonds of Ed C. Wright; said City to
forthwith retUrn the payment and performance bond now
on file and the said U. S. Bonds shall be held in lieu
thereof."
In addition to the aforesaid items amending the aforesaid
Contract, the parties do hereby further agree as follows, to-wit.
7. If the construction of the Little Pass Bridge is not
undertaken by the City of Clearwater within six months
from this day, the bonds deposited herewith are to be
returned to said Ed C. Wright and Bayside Hotel Company,
Inc. If the contracts are let for construction of
Little pass Bridge and approach roads thereto, the
City shall upon completion of said bridge and apprach
roads return respectively to Ed C. Wright and BaySide
Hotel Company, Inc., all bonds deposited with the City
which have not been liquidated in accordance with this
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Addendum to the aforesaid Contract. It is further
agreed that the City of Clearwater will give ten (10)
days written notice respectively to Ed C. Wright and
Bayside Hotel Company, Inc., before liquidating any
bonds in accordance with this Addendum and it is
further agreed that saD parties shall respectively
have the right to furnish the City of Clearwater
any excess costs required under this Addendum or the
Contract above referred to in cash within such period
and in such event the City will refund that portion of
said bonds to the next even amount respectively/ it is
further agreed that any excess costs shall be allocated
proportionately between said Ed C. Wright and Bayside
Hotel Company, Inc., on a 16-100 basis and neither of
said parties shall be jointly bound by the action of the
other in substituting cash proceeds/ that is to say
the City will allow Ed C. Wright to substitute cash
proceeds without reference to action of Bayside Hotel
Company, Inc., and vice versa.
8. It is understood that the City assumes full respon-
sibility for the safe-keeping of the bonds deposited
herewith and that the City will,without charge, clip
coupons of said bonds as they mature and deliver the
same to the respective parties as their interests may
appear or permit said parties to clip said coupons as
they shall mature.
WITNESS our hands and seals this 4th day of December,
A. D. 1961, at clearwater, Pinellas County, ]i'lorida.
WITNESSES:
',0
(SEAL)
City.,
API'
D CORRECTNESS.
City
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~t}~ompany
BAYS IDE HOTEL COMPANY
BY\"~~~
Its President .
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As to Bayside
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As to Ed C. Wrig
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A G R E E MEN T
It is hereby agreed that the undersigned, Bd. C.
['iright, \~ill saVe the City of Clear;T2.ter harmless on
account of engineering fees of the T '0' Greiner Company
u . .G.
for a,pproach roads OVor and across Sand Key connecting
Little Pass Bridge south to County Road
. - Pro.Vid&d,,-h0wevecr, that. in the event Little Pass.
Bridr;e and approach roads are constructed from the pro-
ceeds of the validation of revenue certificates in
accordance Hith contracts on file ldth the City of Clear_
water, this guarantee shall oe excUsed and the cost of
said fees shall be chargeable to the over-all project and
paid for from said revenue certificate proceeds by the
City of Clearwater.
Dated this 3rd day of November, 1961 at St. Peters_
burg, Florida.
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AGREEMENT
IT IS HEREBY AGREED that the undersigned, BAYSIDE
HOTEL COMPANY, a Florida corporation, will save the City of
..._clearwater--aa-mless- on- 'account of engineering fees-of the
J. E. Greiner Co. for approach roads connecting Little Pass
Bridge to Clearwater Beach Island.
PROVIDED, HOWEVER, that in the event Little Pass
Bridge and the approach roads are constructed from the pro-
ceeds of validation of revenue certificates in accordance
with contract on file with the City of Clearwater, this
guarantee shall be excused and the costs of said fees shall
be chargeable to the overall project ahd paid for from the
revenue certificate proceeds by the City of Clearwater.
DATED this 3rd day of November, A. D. 1961, at
Clearwater, Pinellas County, Florida.
BAYSIDE HOTEL COMPANY
By~~~
H. H. Baskin, Sr., President
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