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2003-307
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2003-307
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Last modified
11/29/2016 2:01:46 PM
Creation date
9/30/2015 7:03:51 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Contract
Approved Date
11/18/2003
Control Number
2003-307
Agenda Item Number
7.R.
Entity Name
Waterford Lakes of Indian River County
Subject
Contract Required Sidewalk Improvements
Area
Waterford Lakes Subdivision Phase III
Archived Roll/Disk#
3208
Supplemental fields
SmeadsoftID
3499
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2 . Developer agrees to construct said improvements strictly in <br /> accordance with County policies for sidewalk construction as those policies relate to <br /> location , method and type of construction , and all County development regulations and <br /> standards , including conditions and requirements of any applicable County right-of-way <br /> permit , all of which are hereby incorporated by reference and made a part hereof. <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 by <br /> the County , with Developer as principal and <br /> Old Dominion Insurance company as the surety , in the <br /> amount of $ 26 . o82 . 00 , which amount is not less than one hundred fifteen percent <br /> ( 115 % ) of the estimated total cost of improvements remaining to be constructed , as <br /> determined in 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 County and <br /> shall not be reduced during the course of construction without an express written <br /> modification thereof executed by all parties . Requested reductions shall not be <br /> unreasonably 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 or <br /> excess insurance coverage carried by Developer or to be obtained during the course of <br /> the construction of the subdivision improvements , Developer agrees to indemnify , hold <br /> harmless , and defend the County against any and all claims , damages , losses , and <br /> expenses , including attorney's fees , for property damage , personal or bodily injury , or <br /> loss of life , arising from the negligent acts or omissions of the Developer, its officers , <br /> employees , agents , or contractors , subcontractors , laborers , or suppliers , relating to the <br /> construction of the required sidewalk improvements , including all those improvements to <br /> be constructed on existing publicly dedicated or County owned property . <br /> 5 . The County agrees to approve the Final Plat , upon a finding as to <br /> compliance with all applicable provisions of the County's Development Regulations and <br /> Ordinances and upon execution hereof. However, nothing herein shall be construed as <br /> creating an obligations upon the County to perform any act or construction or <br /> maintenance until such time as the required improvements are satisfactorily completed . <br /> Satisfactory completion in accordance with the land development permit , plans , <br /> specifications , and ordinance requirements of Indian River County shall be determined <br /> by the County and shall be indicated by specific written approval of the Public Works <br /> Director or his designated representative , after receipt of a signed and sealed Certificate <br /> of Completion from the project engineer of record . <br /> 2 <br /> F :\attorney\nancy\DOCS\PLANlside k for perf bond waterford lakes iii .doc <br />
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