HomeMy WebLinkAboutRes.3711.2026-08-03BILL NO. 26-64 RESOLUTION NO. L' q 0
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
EXECUTE A PERFORMANCE GUARANTEE AGREEMENT WITH
FOREFRONT HOLDINGS, LLC, FOR IMPROVEMENTS FOR
SHADOW WOOD VILLAS SOUTH, IN THE CITY OF CAPE
GIRARDEAU, MISSOURI
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE
GIRARDEAU, MISSOURI, AS FOLLOWS:
ARTICLE 1. The City Manager, for and on behalf of the City
of Cape Girardeau, Missouri, is hereby authorized to execute a
Performance Guarantee Agreement with Forefront Holdings, LLC, for
sidewalk and streetlight improvements for Shadow Wood Villas
South, in the City of Cape Girardeau, Missouri. The Agreement
shall be in substantially the form attached hereto, which document
is hereby approved by the City Council, and incorporated herein by
reference, with such changes or amendments as shall be approved by
the officers of the City executing the same. The officers, agents,
and employees of the City are hereby authorized to execute all
documents and take steps as they deem necessary and advisable to
carry out and perform the purpose of this Resolution.
PASSED AND ADOPTED THIS ✓ YA day of , 2026.
P
Robert F. G , Layor
ATTEST:
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Courtney Davis, Deputy City Clerk
PERFORMANCE GUARANTEE AGREEMENT
SHADOW WOOD VILLAS SOUTH
(SIDEWALKS & STREETLIGHTS)
This Performance Guarantee Agreement, hereinafter referred to as this "Agreement", is
made and entered into this _t O _ day ofQ661x , 20_*, by and between
FOREFRONT HOLDINGS, LLC, a Missouri limited liability company, having its principal
office and place of business at 3082 County Road 620, Cape Girardeau, MO 63701, hereinafter
referred to n the "Developer", and the CITY OF CAPE GIRARDEAU, MISSOURI, a municipal
corporation organized and existing under the laws of the State of Missouri, hereinafter referred to
as the "City". The Developer and the City collectively are hereinafter referred to as the
"Parties".
WITNESSETH:
WHEREAS, the Developer has acquired Shadow Wood Villas South, a subdivision
located within the City of Cape Girardeau, Missouri; and
WHEREAS, the previous owner/developer submitted the record plat of Shadow Wood
Villas South to the City, which the City approved; and
WHEREAS, the previous owner/developer and the City entered into an agreement for
establishing a performance guarantee in lieu of the previous owner/developer constructing and
installing certain public improvements for said subdivision prior to the approval of said record
plat by the City; and
WHEREAS, said agreement has expired; and
WHEREAS, the Parties wish to execute this Agreement to replace the expired agreement
and to establish a new performance guarantee for constructing and installing the public sidewalks
and streetlights for said subdivision.
NOW, THEREFORE, in consideration of the foregoing and of the mutual promises and
agreements contained herein, the Parties stipulate and agree as follows:
1. The City has approved the improvement plans and specifications for Shadow Wood
Villas South, hereinafter referred to as the "Subdivision".
2. Lexington National hisurance Company, hereinafter referred to as the "Surety", has
issued a Performance Bond for the cost of constructing and installing the public
sidewalks and streetlights for the Subdivision. The Performance Bond is attached to this
Agreement n "Exhibit A" and made a part hereof as though fully set out herein. The
Performance Bond obligates the Surety to remit payment to the City to cover the cost of
constructing and installing the public sidewalks and streetlights for the Subdivision
should the Developer fail to do so.
Page I of 5
FOREFRONT HOLDINGS, LLC
Manager
STATE OF MISSOURI )
) SS.
COUNTY OF CAPE GIRARDEAU )
ON THIS IQ day of 7Lt 1y . 2021 before me, a notary public in and
for said state, personally appeared Justin Moss and Regina Moss, Managers of Forefront
Holdings, LLC, a Missouri limited liability company, known to me to be the persons described in
and who executed the foregoing instrument, and acknowledged that they executed the same as
the free act and deed of said limited liability company for the purposes therein stated.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal
in said state and county, the date fust above written.
CATHY MILLER
NateP IYO' Sesl
STATEMI MISSOURI
Cape Ol'.OF barNw CO."
My Cemmisabn Ew11na: Mayer 91, ]121
Commkeba
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My Commission Expires:
060ber 98, =9
(signature)
MI 2V'
(Printed Nam )
Page 3 of 5
CITY OF CAPE GIRARDEAU, MISSOURI
Dr. Ke ilssiin, City Manager
i�
ATTEST:COWthi r
r
(Signature) q / . ,:t."., IV
Cou ritl e Day,I AV ISS (,�(l�µryr &' d e
(Printed Name and Title) *-'ti._ . 2,i
STATE OF MISSOURI )
) SS.
COUNTY OF CAPE GIRARDEAU�� p )
ON THIS Play' day of \AX Ler , 20 before me, a notary public in and
for said state, pers nally appeared Dr. enneth Raskin, ity Manager of the City of Cape
Girardeau, Missouri, a municipal corpora ion organized and existing under the laws of the State
of Missouri, known to me to be the person described in and who executed the foregoing
instrument, and acknowledged that the foregoing instrument was signed and sealed on behalf of
said City by authority of its City Council, and acknowledged that he executed the same as the
free act and deed of said City for the purposes therein stated.
IN TESTIMONY WHEREOF. I have hereunto set my hand and affixed my official seal
in said state and county, the date first above written.
"Ail' Id ktill
(4m i)
Nip
Illi (L _ ia di _�
( ri tee ame
My Commission Expires:
AMANDA L.NOT APUBLICOF ffIl
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STATEMISSOURIEXPIRES
MARCH
WIpYCAPE CO 53070
COMPASSION/1/501115]
Page 4 of 5
EXHIBIT A
PERFORMANCE BOND
(on jollowin8Pa8a')
Page 5 of 5
PERFORMANCE BOND
Bond No. L348040-2108
Premium: $1.713.26
KNOW ALL MEN BY THESE PRESENTS, that we, Forefront Holdings, LLC
2607 Prairie Lane, Cam Girardeau, MO 63701
As Principal, and Lexington National Insurance Company -P.O. Box 6098, Lutherville MD 21094
Authorized to do business in the State of Missouri , as Surety, are held and firmly bound
unto City of Cape Girardeau
as obligee, in the penal sum of Fifty -Seven Thousand One Hundred
and Eight and 80/100 ($57.108.80) DOLLARS, lawful money of The United States of
America, for the payment of which well and truly to be made, we bind ourselves, our heirs, executors,
administrators, successors, and assigns, jointly and severally, firmly by these presents.
WHEREAS, Forefront Enterprises
has agreed to construct in City of Cape Girardeau
The following improvements: Shadow Wood Villas South
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said
Principal shall construct, or have constructed, the improvements herein described and shall save the Obligee
harmless from any loss, cost or damage by reason of its failure to complete said work, then this obligation
shall be null and void; otherwise to remain in full force and effect.
Signed, sealed and dated this 8th day of July, 2026.
SURETY
Lexington National Insurance Company
% 1989 5
By: ��i�
Christopher Kolger Attorney -In -Fact
PRINCIPAL
Forefront Holdings,
LLC
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