8/30/2016 11:15:37 AM
9/30/2015 7:29:36 PM
Official Document Type
Agenda Item Number
Contract Required Improvements Citrus Springs Village
Citrus Springs Village ""A" Phase II
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• - , - + v . vv .J 1u1G11 1\ 1 VCr " I. UUr1L `� ( / � - ( / U - � VyJ p . O <br /> J } <br /> Division , and all County development regulations and standards , including conditions and <br /> requirements of any applicable County right-of-way permit , all of which are hereb <br /> incorporated by reference and made a part hereof. Y <br /> 3 . In order to guarantee performance of this contract? Developer shall <br /> simultaneously herewith furnish a performance bond underwritten by a surety insurer <br /> authorized to transact such business in this state , which shall remain in full force and <br /> effect until at least ninety (90 ) days beyond the date set forth in paragraph 1 , or until the <br /> covenants of this contract have been fully complied with and satisfactorily completed as <br /> determined by the County pursuant to paragraph 5 below, in a form to be approved <br /> County, with Developer as principal and Contractors Bonding and Insurance <br /> Company, a Washington corporation , as the surety, in the amount of $262 ;2000161 <br /> which amount is not less than one hundred fifteen percent ( 115 % ) of the estimated total <br /> cost of improvements remaining to be constrted , as determined in accordance with the <br /> County's Subdivision and Platting Ordinance .ucIt is understood that the full amount of the <br /> guaranty shall remain available to the County and shall not be reduced during the course <br /> of construction unless approved in writing by the County' s Public Works Director pursuant <br /> to Indian River County Code Section 913 . 10 . Requested reductions shall not be <br /> unreasonably withheld by the County. Developer may at any time substitute guarantees , <br /> 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 or excess <br /> insurance coverage carried by Developer or to be obtained during the course of the <br /> construction of the subdivision improvements , Developer agrees to indemnify, hold <br /> harmless , and defend the County against any and all claims , <br /> damages , <br /> and <br /> expenses , including attorney's fees , for property damage , personalor bod Im ury, or <br /> loss <br /> of life , arising from the negligent acts or omissions of the Developer, it ryofficers , <br /> employees , agents , or contractors , subcontractors , laborers , or suppliers , relating to the <br /> 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 of <br /> Indian River County , Florida upon a finding as to compliance with all applicable provisions <br /> of the County's Subdivision and Platting Ordinance and upon execution hereof. The <br /> County shall accept those areas specifically dedicated to the County for the purposes <br /> indicated on the plat at the time of plat recordation . However, nothing herein shall be <br /> construed as creating an obligation upon the County to perorm any act of construction or <br /> maintenance within such dedicated areas until such time as the required improvements <br /> 2 <br /> F:Wtt0mey\Nancy\D0CS\YLAN\k for con w perf cid-us sp a-2 .doc <br /> Received Time APr . 12 . 10 : 54AM <br />
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