24-3430 Approving Agreement for One-Time Payment for Road Repairs at Windward Square

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AGREEMENT CONCERNING ONE-TIME PAYMENT FOR ROAD REPAIRS AT WINDWARD SQUARE THIS AGRLBMENT is made and entered into this grday of _ tt,nt _, 2024, by and between: City of Casselberry, Florida, a Florida municipal corporation, whose address is c/o City of Casselberry Public Works Department, 95 Triplet Lake Drive, Casselberry, FL 32707 ("City"). • Windward Square I-Iomeowners Association, Inc., a Florida not for profit corporation, 1000 Pine Hollow Point, Altamonte Springs, FI., 32714 ("Owner" or "HOA"). WHEREAS: A. Owner owns the private roads on the real property in the Windward Square community (the "Property"), in Seminole County, Florida, described on the attached Exhibit A. B. The City recently upgraded all the utility infrastructure in the Windward Square community, including installing new potable water service lines and water mains through open cut and pipe bursting methods (Utility Improvements). C. The Windward Square residents and the HOA provided significant cooperation in the completion of the City's Utility Improvements, which allowed the City to save a great deal of money and made execution of the Utility Improvements much smoother. D. In return for the L-IOA's and the residents' assistance, patience and forbearance during the completion of the Utility Improvements, which was a public benefit, the City will make a one-time Lump sum payment toward the repair of the private roads in the community. E. Owner acknowledges that: 1. The City will provide a contribution towards repair of the roads as a one-time lump sum as a firm number of $972,345.00. 2. The City will not provide any additional funding despite any construction cost changes or change orders during the road repair project. 3. When the City provides the lump sum payment to the Owner, the Owner will release the City from all claims, including from any responsibility for managing the road construction project or providing additional funding. Further, the Owner will release the City from any claims to date for any damages caused by the construction and installation of the Utility Improvements.