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1 <br /> or otherwise required by the Code of Laws and Ordinances of Indian River <br /> County in connection with the approved Preliminary Plat and Land Development <br /> Permit , which are incorporated by reference into this contract . <br /> 2 . Developer agrees to construct said improvements strictly in <br /> accordance with County policies for sidewalk construction as those policies <br /> relate to location , method and type of construction , and all County development <br /> regulations and standards , including conditions and requirements of any <br /> applicable County right-of-way permit , all of which are hereby incorporated by <br /> reference and made a part hereof. <br /> 3 . In order to guarantee performance of this contract , Developer <br /> shall simultaneously herewith furnish a performance bond underwritten by a <br /> surety insurer authorized to transact such business in this state , which shall <br /> remain in full force and effect until at least ninety ( 90 ) days beyond the date set <br /> forth in paragraph 1 , or until the covenants of this contract have been fully <br /> complied with and satisfactorily completed as determined by the County <br /> pursuant to paragraph 5 below , in a form to be approved by the County, with <br /> Developer as principal and Contractors Bonding and <br /> Insurance Company as surety , in the amount of $ 39 , 339 . 38 , <br /> which amount is not less than one hundred fifteen percent ( 115 ) of the estimated <br /> total cost of improvements remaining to be constructed , as determined in <br /> accordance with the County' s Subdivision and Platting Ordinance . It is <br /> understood that the full amount of the guaranty shall remain available to the <br /> County and shall not be reduced during the course of construction without an <br /> express written authorization from County . Requested reductions shall not be <br /> unreasonable withheld by the County. Developer may at any time substitute <br /> guarantees , subject to the approval as to form and amount by the County. <br /> 4 . Up to $ 1 , 000 , 000 . 00 , or the limits of any applicable underlying <br /> or excess insurance coverage carried by Developer or to be obtained during the <br /> course of the construction of the subdivision improvements , Developer agrees to <br /> indemnify , hold harmless , and defend the County against any and all claims , <br /> damages , losses , and expenses , including attorney's fees , for property damage , <br /> personal or bodily injury , or loss of life , arising from the negligent acts or <br /> omissions of the Developer, its officers , employees , agents , or contractors , <br /> subcontractors , laborers , or suppliers , relating to the construction of the required <br /> sidewalk, improvements , including all those improvements to be constructed on <br /> existing publicly dedicated or County owned property . <br /> 5 . The County agrees to issue a Certificate of Completion , <br /> upon a finding as to compliance with all applicable provisions of the County's <br /> Development Regulations and Ordinances and upon execution hereof. <br /> However, nothing herein shall be construed as creating an obligation upon the <br /> County to perform any act or construction or maintenance until such time as the <br /> required improvements are satisfactorily completed . Satisfactory completion in <br /> 2 <br /> F :\Attorney\Nancy\DOCS\PLAN\side k for con w cert of compl surety.doc <br />