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PERFORMANCE BOND <br />1WOW ALL MEN BY THESE PRESENTS, That THE MOORINGS DEVELOPMENT w <br />_ t <br />COMPANY, a Florida corporation, called the Principal, is held and firmly' <br />bound unto ITMIAN RIVER COUNTY, a Political subdivision of the State.of <br />Florida, in the sum of Fifty five thousand, eight hundred and <br />' <br />ao/100 DOLLARS ($53,800.00) for the payment of which sum, well and -truly <br />.. <br />5 <br />to be made, it binds itself, its successors and assigns, jointly and sev- <br />-F <br />-erally, firmly by these presents. <br />-WHEREAS, the Principal has submitted to the Board -of County <br />tommissioners. of Indian River County, Florida, for approval, a plat of a <br />-subdivision known as THE MOORINGS, UNIT FOUR, as provided by Chapter 177, <br />Florida Statutes,,Chapter 29153, Laws of Florida, Acts of 1953, and the <br />Subdivision Resolution of Indian River County, Florida,'and <br />-WHEREAS, the Principal has elected in lieu of the completion <br />-and installation of all of the improvements -shown upon the plat or re- <br /><�quired pursuant to the resolution to post -this Bond and in lieu of its <br />execution by a surety company to deposit the foregoing sum in cash with <br />-the Clerk of the Circuit Court of Indian-Ri-ver County, Florida, and in <br />reliance thereupon said Board has approved said plat conditioned upon the <br />hosting of this Bond, and, <br />-WHEREAS, said Board has agreed that the amount of said Bond and <br />r <br />--deposit shall be reduced from time to time as the work required to be per- <br />formed progresses in such amounts as the County Administrator certifies <br />! <br />-represents the estimated value of work performed, based upon the cost <br />figures set forth on the attached "Estimate of Costs to Develop The <br />-floorings (Unit -Four) for Record Plat," prepared for Beindorf and Associates, <br />Inc., under date of August 2,1973 in certificates to be issued by the <br />'said County Administrator from time to time that parts of said work have <br />-been performed in accordance with the requirements of the Subdivision Re- <br />3olution, and, <br />MEREAS, said Board has agreed that upon the issuance of any such <br />.certificate, the Clerk shall return to Principal such portion of said de- <br />_Vosit as equals the amount -certified therein. <br />� _ <br />BOOK 11 PAGI 1 <br />..�,...�. <br />AUG 81973 <br />