Loading...
06/15/2011 AgreementSETTLEMENT AGREEMENT BETWEEN CHARLEY TOPPINO & SONS INC. MONROE CONCRETE PRODUCTS, INC. AND MONROE COUNTY Charley Toppino & Sons Inc. and Monroe Concrete Products Inc. and Monroe County, a political subdivision of the State of Florida, enter into this agreement dated June 15, 2011, to settle the matter between them. WHEREAS, Monroe County owns and operates the Key West International Airport; and, WHEREAS, in November of 2005 Monroe County contracted with the Morganti Group Inc. to construct a new airport terminal; and, WHEREAS, the Morganti Group Inc. subcontracted the purchase of concrete products and construction materials from Charley Toppino & Sons Inc. and Monroe Concrete Products Inc. respectively; and, WHEREAS, Charley Toppino & Sons Inc. and Monroe Concrete Products Inc. collectively delivered concrete products and construction materials to the new airport terminal construction project at the Key West International Airport for which they have not been paid by the Morganti Group Inc; and, WHEREAS, Charley Toppino & Sons Inc. and Monroe Concrete Products Inc. collectively are owed a total $72,588.00 by the Morganti Group Inc. for the said products; and, WHEREAS, Monroe County has recently completed a capital improvement project and has approximately 35,000 cubic yards of unprocessed surplus fill available; and WHEREAS, the market value for fill, depending on quality, in Monroe County ranges from $4.70 to $7.00 per cu yd; and, WHEREAS, Charley Toppino & Sons Inc. and Monroe Concrete Products Inc. are interested in acquiring a portion of the surplus fill; and WHEREAS, Charley Toppino & Sons Inc. and Monroe Concrete Products Inc. are willing to assign to Monroe County the legal rights Charley Toppino & Sons Inc. and Monroe Concrete Products Inc. have to recover the outstanding balance of accounts receivable owed by the Morganti Group Inc. to Charley Toppino & Sons Inc. and Monroe Concrete Products Inc.; and WHEREAS, Charley Toppino & Sons Inc. and Monroe Concrete Products Inc. are willing to accept a portion of the surplus fill Monroe County has available in exchange for an assignment of their legal rights to collect the accounts receivable owed by the Morganti Group Inc. to Charley Toppino & Sons Inc. and Monroe Concrete Products Inc.; NOW THERFORE, IN CONSIDERATION of the promises and conditions contained herein, the parties agree as follows; 1. 2. 3. 4. 5 Cel 7 Monroe County has a total of 35,000 cubic yards of fill available. For purposes of this agreement, the fill will be valued at $6.00 per cubic yard. For purposes of this agreement, 12,098 cubic yards of fill at $6.00 per cubic yard has a value of $72.588.00. Monroe County will provide a total of 12,098 cubic yards of fill to Charley Toppino & Sons Inc. and Monroe Concrete Products Inc. to be divided amongst Charley Toppino & Sons Inc. and Monroe Concrete Products Inc. as they see fit. Charley Toppino & Sons Inc. and Monroe Concrete Products Inc. agree to accept the 12,098 cubic yards of fill at $6.00 per cubic yard in settlement of all claims they may have against Monroe County for the Key West International Airport —New Terminal Building and Renovation Project. Charley Toppino & Sons Inc and Monroe Concrete Products Inc. hereby assign to Monroe County all legal rights of recovery, with respect to the $72,588.00 in accounts receivable owed by the Morganti Group Inc. to Charley Toppino & Sons Inc. and Monroe Concrete Products Inc. Each nartv aerees to bear its own costs and attorney's fees other than as t. BOARD OF COUNTY COMMISSIONERS OF MONWE COi;?1TY, FLORIDA Lo CHARLEY TOPPINO & SONS, INC. 0 C) Of U w C LIJ C U- By: LW ar+ 1 Witness .Date= To n 1 Q N _. CV - C By: Title: Date: 6 " / — / / By: �16tAp0- —© a,._. Witness Date: 0L - a l - t, MONROE CONCRETE PRODUCTS, INC. By: Title: Date: 6— /—//