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3 . Acknowledge that, in the event Developer fails to begin or cause repair <br /> of the defective required improvements within 20 days , or to complete such repairs <br /> within a reasonable time thereafter, the County shall have the right to make such <br /> needed repairs and Developer shall be liable to the County for the actual cost expended <br /> by the County for such repairs and any cost incident to the collection of such sums , <br /> including but not limited to , reasonable attorney' s fees and costs of litigation , including <br /> any appeals ; and <br /> 4 . Provide herewith , or has provided heretofore in a manner satisfactory <br /> to the County , security to guaranty Developer's performance of this agreement, being <br /> either a cash escrow deposit, irrevocable letter of credit presentable in Florida or bond <br /> issued by a company licensed to do business in the State of Florida with an A. M . Best <br /> rating of A+ XI . In the event Developer has not undertaken the repairs contemplated by <br /> this Agreement following a request by the County , the proceeds of any such security <br /> may be drawn upon by the County to the final total cost of Developer's obligations <br /> hereunder, not to exceed however, the applicable limits of the security . <br /> 5 . Grant and convey unto Indian River County all its right , title and <br /> interest in and to all public improvements , lying within the areas dedicated to the <br /> County, and Developer hereby warrants to the County that it has free and <br /> unencumbered title thereto , that all persons or entities which have supplied labor or <br /> materials with respect to such improvements have been paid in full , that none of them <br /> has any claim whatsoever with respect thereto , and that Developer shall hereafter <br /> forever warrant and defend the County's title thereto . <br /> IN WITNESS WHEREOF , Developer has hereunto set its hand and seal <br /> this 7 day of 2007 . <br /> Signed in the presence of: RPVB , LLC , a Florida limited <br /> liability company <br /> N4�� Developer <br /> sign : (� <br /> print name : HIW ( eS J Nn,/[ S <br /> By: <br /> sign : Timothy S . SNmi& <br /> print nam c u--^— Managing Member <br /> (affix corporate seal ) <br /> 2 <br /> F:\Attomey\Nancy\DOCS\PLAN\harbor chase maint.doc <br />