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or otherwise required by the Code of Laws and Ordinances of Indian Rider County in connection with the approved Preliminary Plat and Land Development Permit, which are incorporated by reference into this contract . 2 . Developer agrees to construct said sidewalk improvements ; strictly in accordance with County policies for sidewalk construction as those policies relate to location , method and type of construction , and all County development regulations and sardsp allo are hereby including which conditions r requirements i , of any applicable County right-of-way permit by reference and made a part hereof, 3 . In order to guarantee performance of this contract ande eloper shall simultaneously herewith furnish an executed ca p agreement in a form to be approved by the County, naming Developer and the Indian River County Office of Management and Budget, as the escrow agent, in the amount of $35 , 121 ,00 , which amount Is not less than one hundred fifteen percent ( 115 % ) of the estimated total cost of sidewalk improvements remaining to be constructed , as determined in accordance with the County's Subdivision and Platting Ordinance . It is understood that the full amount of the escrow deposit shall remain available to the County and shall not be reduced during the course of construction except as provided in Indian River County Code Section 913 . 1o(4)(B ) , Developor may at any time substitute guarantees , subject to the approval as to form and amount by the County . 4 , tip to $ 1 ,000 , 000 . 00 , or the limits of any applicable underlying - or excess insurance coverage carried by Developer or to be obtained during • the course of the construction of the subdivision improvements , Developer agrees to indemnify , hold harmless , and defend the County against any and all claims , damages , losses , and expenses , including attorney's fees , for property damage, personal or bodily injury, or loss of life , arising from the negligent acts or omissions of the Developer, its officers , employees, agents , or contractors , subcontractors , laborers , or suppliers , relating to the construction of the required sidewalk improvements, including all those improvements to be constructed on existing publicly dedicated or County owned property. 5 . The County agrees to Issue a Certificate of Completion , upon a finding as to compliance with all applicable provisions of the County's Development Regulations and Ordinances and upon execution hereof. However, nothing herein shall be construed as creating an obligation upon the County to perform any act or construction or maintenance until such time as the required sidewalk improvements are satisfactorily completed . Satisfactory completion in accordance with the land development permit, plans , specifications , and ordinance requirements of Indian River County shall be determined by the County and shall bd indicated by specific written approval of the Public Works Director or his designated representative , after receipt of a signed and seated Certificate of Completion from the project engineer of record . 2