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ORDINANCE 2005- 007 agreement and provide security guaranteeing the required road, drainage, and sidewalk improvements against all defects in workmanship or materials, failure to construct in accordance with approved plans and specifications, for the period of elle three (3) years from the date of acceptance issuance of the certificate of completion. (B) The warranty and maintenance agreement shall be on a form provided by the county attorney's office and shall be secured by the posting of surety in an amount equal to twenty-five (25) percent of the total actual cost of the improvements covered. The surety security shall be in one of the forms specified in section 913.10(1)(D) for construction security. Surety other than performance bonds The posted security shall expire, if at all, no earlier than ninety (90) days following the end of the three (3) year guarantee period. Performance bonds shall guarantee performance without any time limitation other than the statute of limitation. Security for required road, drainage, and sidewalk improvements shall run to the benefit of Indian River County. Upon receipt of a request to release maintenance security to a developer, and within approximately 30-60 days prior to a county inspection of required improvements scheduled at the end of the maintenance period, the county shall notify subdivision residents of the request and inspection. Notice may be provided by sign posting, mail, flyers, or advertisement. At the end of the three (3) year period, the public works director may release the security under the terms of the warranty and maintenance agreement, which shall require certified inspection reports under seal from the developer's engineer and a determination from the county engineer that required road drainage, and sidewalk improvements meet applicable county performance standards. 5. LDR Section 913.07(5)(I), Final Inspection, Certificate of Completion, is hereby amended to read as follows: "(I) Finalinspection; certificate of completion. Upon completion of construction of the improvements, the applicant shall provide the public works director with the following• 1. A certified letter stipulating that construction of the improvements has been completed and requesting final inspection and approval; 2. The testing reports and certificates of compliance from material suppliers; 3. Three (3) sets of as -built construction plans; 4. Documents from a registered engineer with his seal affixed certifying that the improvements have been constructed in conformity with the land development permit and the provisions of this chapter; 5. A document from the county utilities division approving all utility installations. If a municipality or other utility is serving the development with water or sewer, there must be a document indicating acceptance of the construction for the water or sewer system by the utility; Bold Underline: Added text $trip• Deleted Text F:\Community Development\Users\CurDev\ORDINANCE\2005\Bonding out for residentail subdivision.rtf 6