HomeMy WebLinkAboutYeager, Robert A. Agreement -1994 04 08.~-.--+~-E1~ 22 ' 95 1 1:20 FROM SULL I VAN PROPERTIES PAGE . 0@2
~.rr t3 E T ``^
THIS AGREEMENT made and entered into this ,~ day of _ APR lL
between F~pBERT q, YEAGER, as Trustee, hereinafter roferred to as "YEAGER," and the CITY OF
WINTER SPRINGS, hereinafter referred to as "CITY,"
WITNE38ETH:
WHEREAS, Yeager is the title owner of that certain property known as Tract 15, of the
Tuscawilia P.U,D., located in the Clty of Winter Springs as more particularly is described in Exhibit "A"
attached hereto and by reference made a part hereof, and
WHEFtI=AS, Yeager, as successor in interest to and of Winter Springs Development Joint
Venture, has certain rights under the agreement with the City of Winter Springs pursuant to the
Settlement Agreement dated September 11, 1990, (the Settlement Agreement) including without
limftalion, the rights to receive credits for transportation impact fees as a result of the construction and
dedication of Vista Willa Orive, and
WHEREAS, the City acknowledges and agrees that upon the dedication of Vista Willa Drive to
the City, impact fee credits in the amount o~~wiil be credited to Yeagers account as more
particularly is set forth herein.
NpW THEREFORE, in accordance with the direction of the City Commission of the City of
Winter Springs and the Settlement Agreement, the parties hereby covenant and agree as follows:
1. That Yeager, upon the filing of the plat and dedication of Vista Willa Drive, shall receive
~ in transportation impact fee credits, the same of which the City will establish the "Yeager
account" to be maintained by the City. In accordance with the terms and requirements of Section 9-
385.11 of the Winter Springs Code (as codified on the date of execution), Yeager may transfer, sell,
assign or pledge the credits as deemed appropriate by Yeager with the understanding that any sale,
transfer or pledge of said credits will be restricted to any successor In Interest In Tuscawilla Tract 13. The
credits may be used against any assessment for current or future impact fees assessed as a result of the
development of Tuscawiila Tract 15. The credits may be .used~•against 'any of the development of
Tuscawilia Tract 1 S or any portion of such tract. The credits may be transferred; assigned or sold in a
bulk value amount yr on an individual credit basis so long.ss the amount transferred, sold or assigned is
deducted from or added to the Yeager account and so long as such transfbr:, sale or assignment is to a
successor in interest In Tuscawilla Tract 13 or any portion thereof.
2. Upon receipt of a written direction from Yeager outlining the sale or transfer of said credits,
together with the amount of credits and the area to which the same wiH be utilized, the City shall
acknowledge the transfer and/or sale and deduct the appropriate credit amount from the Yeager account.
At such time as the account is depleted and there is a balance tens than the amount of an impact fee
credit, the Transferee shall be entitled to make up the difference in cash to allow the account to be
closed.
3. This Impac! Fee Credit Agreement shall be binding on and inure to the parties of this
agreement, their respective heirs, legal representatives, successors and assigns.
..>
'` ~~ `22 '95 11:21 FROM SULLIVAN PROPERTIES PAGE.003
•
1N WITNESS WHER>=OF, the parties have hereunto set their hands and seats on tha day and
year first above written.
Signed, sealed and delivered
in the presence of:
!Type or Print Name ~ J-
~~ ~ t d b o~_Lk_
Type or Print Namef ~
r. / ,/
~~ ' !•~/~
_ '~u 3.s. ~ rt
Type or tint Name f~ ~
`"' /~.,er~,/,~~r~.- it ~
Type or Print Name
.~ •sf~
~/ G~ •/' l
,/~~ .
...•.c~~.~'
C i/lr
Robert A. Yeager rustee
City of Winter Springs, Florida
ay: `"_`
City anager
ciTY
STATE OF FLORIDA N ~g~4, by
COUNTY OF S(*MINOLE ~, da of
The foregoing instrument was acknowledged before me this Y
Robert A. Yeager, Trustee who personally appeared before me at the time of as identification andhwho
personally known to me
(did/did not) take an oath. NOTARY PUSt_lC:
;~ ~~.~
Signatur
Typed/Printed Notary N~~{C7Y PL=:LIC; sT~:i c~ rLo~10A As Laces
State of Florida at Large tcrrt~,ss;:+N .x~:aes avati oa, rare
My Commission Expiresb~oeo Tt~~u :.c~`+T'~ so7aaY 3AO:ca:aaa
STATE OF FLORIDA
COUNTY OP SFMINOLE ~~~ day of , 1994, by
The foregoing instrument was acknowledged before ~e th'S on behalf of the City of Winter
,y'~dwl C - ..~ ~r , as ~~
Springs, who personaify appeared before me at the time oas idea it~fiti~ion annd wwho (did/did not) to a an
me
oath.
NOTARY PUBLIC:
~~,r~. .,
Signatur&
TypedlPrinted Notary ~~`iY PL'21SC; gTAT'a OF FiORIDa AT LAAOB
Stat® of FiOrlda at LargEt :~MMMast•.~ ExQta_s arR15 04, w9s
My Commission Expires:~~~a s:~au ~,~stiT~s NOTARY SROiG''iA6i
2
~`