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Agreement concurrently with or prior to the County's construction of the County Project. (The <br /> allocation of tasks as between the County and the Developer is reflected on Exhibit `B", attached <br /> hereto and made a part hereof) Further, Developer and County acknowledge and agree that the <br /> Roadway Improvements shall be constructed by Developer simultaneously and in conjunction with <br /> the Roadway Improvements described in the County' s Developer Agreement with NAP Indian <br /> River LLC, for the Harbor Point project. <br /> B . To secure the performance of the Developer and payments of all expenses <br /> associated with the roadway improvement project, the Developer agrees to establish and maintain <br /> a surety instrument throughout the term of the project. The surety instrument may be in the form <br /> of a cash deposit or an irrevocable letter of credit. If the cash option is selected, the required sum <br /> shall deposited with the County. If the letter of credit is utilized, the form and content thereof <br /> shall be approved in advance by the County . <br /> C. The amount of the surety instrument to be established by the Developer to secure <br /> the performance hereunder shall be One Hundred Fifteen percent ( 115%) of the total roadway <br /> improvement project costs as provided in the County-approved estimate of project costs to be <br /> prepared after the roadway improvement plans have been completed by the County. The surety <br /> instrument shall be posted by the Developer no later than ten (10) days following County approval <br /> of the estimate of project costs, and shall be maintained until the County 's final acceptance of the <br /> roadway improvement project. <br /> 4. Impact Fee Credits: Developer shall receive and be entitled to traffic impact fee <br /> credits for all reasonable costs associated with the Roadway Improvements, with the exception of <br /> the following, which shall be considered site-related improvements: <br /> A. Eastbound left-turn lane from 53rd Street. <br /> B. Developer's proportionate share of the cost of construction of the <br /> Southbound left-tum lane from U.S . 1 to 53 d Street, which proportionate share is Twenty <br /> Thousand Seven Hundred Thirty and 24/100 Dollars ($20,730.24) . <br /> The County shall have the right to review and approve all bid documents, and the County's <br /> approval shall not be unreasonably withheld. <br /> 5 . A. Sianalization at 53`d Street/The Landings Entrance: Concurrently with the <br /> construction of 53`d Street, Developer shall install County designed signalization at the 53`d Street <br /> driveway/entrance to The Landings. Developer shall be responsible for one-half (%a) of the <br /> construction costs for such signalization, and Developer shall not receive impact fee credits for <br /> this amount. Developer and County acknowledge that NAP Indian River LLC will be responsible <br /> for one-half ( 1/2) of the construction costs for such signalization, pursuant to a separate agreement <br /> with the County, making the total sum contributed by both Developers the total construction cost <br /> for such signalization. The signal shall be installed no later than the date that the Certificate of <br /> Occupancy for Harbor Point grocery anchor is issued. <br /> 2 <br />