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County, Florida upon the final approval of the Board of County Commissioners and
<br /> made a part hereof for all purposes .
<br /> 2 . Developer agrees to construct said improvements strictly in
<br /> accordance with the land development permit , the most recent set of plans and
<br /> specifications for this subdivision approved by the County and on file in the Planning
<br /> and Development Division , and all County development regulations and standards ,
<br /> including conditions and requirements of any applicable County right-of-way permit , all
<br /> of which are hereby incorporated by reference and made a part hereof.
<br /> 3 . In order to guarantee performance of this contract , Developer shall
<br /> simultaneously herewith furnish an executed cash deposit and escrow agreement , in a
<br /> form to be approved by the County Attorney , between Developer and the Indian River
<br /> County Office of Management and Budget , as the escrow agent , in the amount of
<br /> $ 24, 208 . 08 , which amount is not less than one hundred fifteen percent ( 115 % ) of the
<br /> estimated total cost of improvements remaining to be constructed , as determined in
<br /> accordance with the County's Subdivision and Platting Ordinance . It is understood that
<br /> the full amount of the escrow deposit shall remain available to the County and shall not
<br /> be reduced during the course of construction unless approved in writing by the
<br /> County' s Public Works Director pursuant to Indian River County Code Section 913 . 10 .
<br /> Requested reductions shall not be unreasonably withheld by the County. Developer
<br /> may at any time substitute guarantees , subject to the approval as to form and amount
<br /> by the County.
<br /> 4 . Up to $ 1 , 000 , 000 . 00 , or the limits of any applicable underlying or
<br /> excess insurance coverage carried by Developer or to be obtained during the course of
<br /> the construction of the subdivision improvements , Developer agrees to indemnify , hold
<br /> harmless , and defend the County against any and all claims , damages , losses , and
<br /> expenses , including attorney's fees , for property damage , personal or bodily injury , or
<br /> loss of life , arising from the negligent acts or omissions of the Developer, its officers ,
<br /> employees , agents , or contractors , subcontractors , laborers , or suppliers , relating to
<br /> the construction of the required improvements , including all those improvements to be
<br /> constructed on existing publicly dedicated or County-owned property , such as street ,
<br /> sidewalk , bikepath , lighting , signalization , traffic control , drainage , water, or sewer
<br /> improvements .
<br /> 5 . The County agrees to approve the plat for recordation in the Public Records
<br /> of Indian River County, Florida upon a finding as to compliance with all applicable
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<br /> FAattorney\nancy\DOCS\PLAN\k for const w cash pelican bay.doc
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