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2004-227
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2004-227
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Last modified
9/27/2016 1:33:47 PM
Creation date
9/30/2015 7:59:25 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Contract
Approved Date
10/12/2004
Control Number
2004-227
Agenda Item Number
7.F.
Entity Name
Windsor Properties
Subject
Contract Modification Required Improvements
Cash Deposit and Escrow Agreement
Area
Windsor
Archived Roll/Disk#
3223
Supplemental fields
SmeadsoftID
4294
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accordance with the land development permit, plans , specifications , and ordinance <br /> requirements of Indian River County shall be determined by the County and shall be <br /> indicated by specific written approval of the Public Works Director or his designated <br /> representative , after receipt of a signed and sealed Certificate of Completion from the <br /> project engineer of record . <br /> 6 . In the event the Developer shall fail or neglect to fulfill its <br /> obligations under this contract and as required by the Indian River County Code , the <br /> Developer, as principal , and the letter(s ) of credit shall be jointly and severally liable to <br /> Pay for the cost of construction and installment of the required improvements to the final <br /> total cost; including but not limited to engineering , construction , legal and contingent <br /> costs , including reasonable attorney's fees incurred by the County, together with any <br /> damages , either direct or consequential , which the County may sustain as a result of <br /> the failure of Developer to carry out and execute all provisions of this contract and <br /> applicable ordinances of the County. In no event , however shall the liability of the <br /> underwriting bank under this paragraph exceed the total amount of the original <br /> obligation stated in the letter(s ) of credit, less any approved reductions thereto . <br /> 7 . The parties agree that the County at its option shall have the right, <br /> but not the obligation , .to construct and install or, pursuant to receipt of competitive bids , <br /> cause to be constructed and installed the required improvements in the event <br /> Developer shall fail or refuse to do so in accordance with the terms of this contract. <br /> Developer expressly agrees that the County may demand and draw upon the existing <br /> letter(s) of credit for the final total cost of the improvements . Developer shall remain <br /> wholly liable for any resulting deficiency, should the letter(s ) of credit be exhausted prior <br /> to completion of the required improvements . In no event shall the County be obligated <br /> to expend .public funds , or any funds other -than those provided by the Developer, or the <br /> underwriting bank to construct the required improvements . <br /> 8 . Any letter(s ) of credit provided to the County by Developer with <br /> respect to this contract shall exist solely for the use and benefit of the County and shall <br /> not be construed - or intended in any way, expressly or impliedly, to benefit or secure <br /> payment to any subcontractor, laborer, matenalman or other party providing labor, <br /> material , supplies , or services ' for construction of the required improvements , or to <br /> benefit any lot pu.rchaser(s ) , unless the County shall agree otherwise in writing , <br /> 9 . This agreement is the full and . complete understanding of the <br /> parties and shall not be construed or amplified by reference to any other agreement, <br /> discussion , or understanding , whether written or oral , except as specifically mentioned <br /> herein . . This agreement shall not be assigned without the express written approval of <br /> the County. Any amendment , deletion , modification , extension , or revision hereof or <br /> hereto shall be in writing , executed by authorized representatives of both parties . <br /> 3 <br />
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