Wednesday, December 05, 2012 - Regular Planning ... - Polk County

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attributable to such additional property in accordance with Paragraph 3.6 of the
Development Agreement, as hereby amended.
ARTICLE II
TERMS OF AMENDMENT
Pursuant to the terms and conditions set forth in this Amendment, Polk County
and the Owner hereby consent and agree as follows:
2.1 Successor. The Owner is a successor in interest to the AK Oakmont
Property as shown by the deed for the AK Oakmont Property attached hereto as
Exhibit “C”, and Owner hereby represents and warrants that it owns fee simple title to
the AK Oakmont Property, free and clear of any claims, liens, pledges, security interests
and encumbrances of any kind whatsoever, and has full power, right, authority and
capacity to enter this Amendment.
2.2 Duration of Amendment. This Amendment to the Development
Agreement shall begin on the Effective Date of the Amendment and shall expire on July
15, 2013 (which is the date the Development Agreement expires as set forth in
Paragraph 2.2 thereof). This Amendment may be extended beyond the expiration date
of the Development Agreement only by the written consent of the Owner and Polk
County, in conjunction with the consent and participation of all of the present land
owners within the Oakmont PD, subject to public hearings in accordance with Section
163, Florida Statutes and the Polk County Land Development Code.
2.3 Amendment. Paragraph 3.6 of the Development Agreement is hereby
deleted in its entirety and replaced with the following as to the AK Oakmont Property:
3.6 Collector Road Extension. The Development Agreement
provides that prior to the issuance of any building permits, the Owner of
Oakmont PD shall tender a one-time payment to Polk County of
$150,000.00 or an unconditional Letter of Credit in the same amount to
Polk County, to pay for the southward extension of a collector road to
provide sufficient access to the Oakmont PD. Polk County completed the
collector road extension as contemplated in Paragraph 3.6 of the
Development Agreement, which improvements are now known as Pine
Tree Trial, and were paid for 100% by Polk County. Polk County did not
receive any monies from the Owner of Oakmont PD as required in the
Development Agreement, and the Parties agree that Owner shall
reimburse Polk County for its proportionate share of said costs as set forth
below.