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A TRUE COPY <br />CERTIFICATION ON LAST PAGE <br />J.K. BARTON, CLERK <br />& The County .agrees;.to issue building permits and -Certificates <br />of Occupancy prior to: tl ie lnsta'llati n of roqutre . sid1.ewalk improve dents. so .long <br />as Developer is not in default-bf the4wnis of this lcontrant. <br />T. Ip the event the Developer shall fall .pr neglect to fulfill. its <br />obligations under this contract and as: required by the Code of Laws and <br />Ordinances of ln'd a'ih River Oauntjr, Floritls;.'thie Developer, ;as principal,.:and th:e. <br />ietteT of credit shall be .jointly and severally- liable to 'pay for the cost of <br />construction and. installment of the requiredimprovements Io thefinal total cost, <br />including but not .limited .to engirieerirlg, dons�trudtion, :legal and zontirigent costs,. <br />including reasonable- attorney's feeso incurred by the County, together with any <br />darriages., .eitiaer tluect .or ccii seq Brit ai, ul ich the Col�rity may sustain as. a <br />result of the failure of :Developer to -.c -airy out acrd execute i 11 provisions sof this <br />contract and applicable ordi.aances::of the Couniy lin no even ;. however, shall <br />the liability of the un:derwritrrg batik under this paregra:ph i;xceed the total <br />am.mount of the original obligationstated in the letter of.:credit less any approved <br />:reductions :thereto: <br />8. Theparties agree County at its option shall have the <br />right, but not 'th$ obligation; t'o. construct ,and r►stal.l or, pursuant :to ree�ipt Of <br />competitive bids, cause to ;be constructed and °installed the required <br />lniprovemepts in ,the event Developer sha{l fal! or refuse to do, so Irl:. accordance <br />with the terms of 3s flntract . i]eveloper expressly agrees hat the Couniy rn'ay <br />demand and draw upon the exlsfirmg leiter t�f credit fior the final total cos# of the <br />improveinehts. D.evelpper S all rem ain vit ally liable far any resulting di?l~i iency, <br />should the:. letter of credit be exhausted prior :to Completion of the required <br />improvor ents;. In n©'evghl s'bal( ihe`C.dunity' be obligated to ex.P., ;.publi;c:funds, <br />or any funds tither thanthose .pravioed by the Developer, or the letter of credit to <br />construct the required improvements. <br />9. Any letter of credit provided. to .fihe County by ;Developer with <br />respect tt this cgttraet shall ears# solely for fhie:;use afid beti.el~rt ©f the County a:nd. <br />shall mf be .construed or intended iii any :way; expressly `'or impliiedly,, to . benefit <br />or secure payment ta: tany sub -contractor, jaborer, rrtaterialrnan or .other party <br />provicift labor, rriat&ial, su:ppl�es, or services for oonstruction of 'the require <br />improvements, :,or to -,benefit any lot: p.urchaser(s), unless the County shall agree <br />otherwise.ln v�rritirag;. <br />10.. This agreement is the full and complete understanding of `the <br />parties and .shall not. be construed. or amplified by reference to any other <br />agreement, discussion, or .understanding, whether written or ora(, except as <br />specifically mentioned. herein. This agreement'shail not.be assigned withbut the <br />express written .approval .of the County.. Any amendment, deletion,,modification, <br />extension, or revision hereof or hereto shall be in writing, executed by authorized <br />representatives of both -parties. <br />F %Attorney\Nancy\DOCSU-ILAN\millstone ph3 side k.doc <br />