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provisions of the County' s Subdivision and Platting Ordinance and upon execution <br /> hereof. The County shall accept those areas specifically dedicated to the County for <br /> the purposes indicated on the plat at the time of plat recordation . However, nothing <br /> herein shall be construed as creating an obligation upon the County to perform any act <br /> of construction or maintenance within such dedicated areas until such time as the <br /> required improvements are satisfactorily completed . Satisfactory completion in <br /> accordance with the land development permit , plans , specifications , and ordinance <br /> requirements of Indian River County shall be determined by the County and shall be <br /> indicated by specific written approval of the Public Works Director or his designated <br /> representative , after receipt of a signed and sealed Certificate of Completion from the <br /> project engineer of record . <br /> 6 . In the event the Developer shall fail or neglect to fulfill its obligations under <br /> this contract and as required by the Indian River County Code , the Developer, as <br /> principal , and the funds in escrow deposit shall be liable to pay for the cost of <br /> construction and installment of the required improvements to the final total cost , <br /> including but not limited to engineering , construction , legal and contingent costs , <br /> including reasonable attorney's fees incurred by the County , together with any <br /> damages , either direct or consequential , which the County may sustain as a result of <br /> the failure of Developer to carry out and execute all provisions of this contract and <br /> applicable ordinances of the County . <br /> 7 . The parties agree that the County at its option shall have the right, but not <br /> the obligation , to construct and install or, pursuant to receipt of competitive bids , cause <br /> to be constructed and installed the required improvements in the event Developer shall <br /> fail or refuse to do so in accordance with the terms of this contract . Developer <br /> expressly agrees that the County may demand and draw upon the cash deposit for the <br /> final total cost of the improvements . Developer shall remain wholly liable for any <br /> resulting deficiency, should the cash deposit be exhausted prior to completion of the <br /> required improvements . In no event shall the County be obligated to expend public <br /> funds , or any fund other than those provided by the Developer to construct the required <br /> improvements . <br /> 8 . Any cash deposit provided to the County by Developer with respect to this <br /> contract shall exist solely for the use and benefit of the County and shall not be <br /> construed or intended in any way, expressly or impliedly, to benefit or secure payment <br /> to any subcontractor, laborer, materialman or other party providing labor, material , <br /> supplies , or services for construction of the required improvements , or to benefit any lot <br /> purchaser( s ) , unless the County shall agree otherwise in writing . <br /> 9 . This agreement is the full and complete understanding of the parties and <br /> shall not be construed or amplified by reference to any other agreement , discussion , or <br /> understanding , whether written or oral , except as specifically mentioned herein . This <br /> 3 <br /> F:\attorney\nancy\DOCS\PLAN\k for const w cash pelican bay.doc <br />