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A TRUE COPY CERTIFICATION ON LAST PAGE J. K. BARTON, CLERK and not covered witt I topsoil , concrete or impervious material for the 3-year maintenance period c ommencing after County issuance of a Certificate of Completion . Notice of this ongoin(- a responsibility shall be provided by Developer to any subsequent builder/homeowner. Satisfac ;tory completion in accordance with the land development permit, plans , specification : ;, and ordinance requirements of Indian River County shall be determined by the County and shall be indicated by specific written approval of the Public Works Direc' for or his designated representative, after receipt of a signed and sealed Certificate of ; Completion from the project engineer of record . 6 • In the event the Developer shall fail or neglect to fulfill its obligations under t his contract and as required by the Indian River County Code , the Developer, as prin cipal , . and the letter(s ) of credit shall be jointly and severally liable to pay for the cost of construction and installment of the required improvements to the final total cost, includir ig but not limited to engineering , construction , legal and contingent . costs, including n easonable attorney's fees incurred by the County, together with any damages, either direct or consequential , which the County may sustain as a result of the failure of Dc ,veloper to carry out and execute all provisions of this contract and applicable ordir : ances of the County. In no event, however shall the liability of the underwriting be, nk under this paragraph exceed the total amount of the original obligation state' I in the letter(s) of credit, less any approved reductions thereto . 7 • The parties agree that the County at its option shall have the right, but not the obli gation , to construct and install or, pursuant to receipt of competitive bids, cause to be constructed and installed the required improvements in the event Developer shr all fail or refuse to do so in accordance with the terms of this contract. Developer ex pressly agrees that the County may demand and draw upon the existing letter(s) of cr edit for the final total cost of the improvements . Developer shall remain wholly liable for any resulting deficiency, should the letters) of credit be exhausted prior to completio n of the required improvements. In no event shall the County be obligated to expend p ,ublic funds, or any funds other than those provided by the Developer, or the underwriting g bank to construct the required improvements. 8 . Any letter(s) of credit provided to the County by Developer with respect to this contract shall exist solely for the use and benefit of the County and shall not be cc mstrued or intended in any way, expressly or impliedly, to benefit or secure payment to any subcontractor, laborer, materialman or other party providing labor, material , supplies , or services for construction of the required improvements , or to benefit cc any lot purchaser(s) , unless the County shall agree otherwise in writing . 9. This agreement is the full and complete understanding of the parties and shall not be construed or amplified by reference to any other agreement, discus sion , or understanding , whether written or oral , except as specifically mentioned herein , . This agreement shall not be assigned without the express written approval of 3 F:'Attor neyWancylDocslPLANlstoney brook k for con for loc 125%.doc