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This document prepared by and return to: <br />Indian River County <br />Public Works Department <br />1840 25th Street <br />Vero Beach, Fl. 32960 <br />11/8/04wcg(PWD)jwd • <br />construction of improvements described in this paragraph to enable the COUNTY to post a <br />notice on DemandStar. The DEVELOPER agrees that the Indian River County Purchasing <br />Division shall conduct the public competitive bid process for the construction of the <br />improvements in this paragraph to obtain bona fide bids from licensed and qualified <br />contractors, and that such bids are to be publicly opened and read aloud. The DEVELOPER <br />shall cause the DEVELOPER'S engineer to review the bids received by the Indian River <br />County Purchasing Division, and to make a written recommendation to the County's Public <br />Works Director for award of the bid to a licensed and qualified contractor. The COUNTY'S <br />reimbursement of construction costs to the DEVELOPER shall be conditioned upon the <br />approval of all project costs by the County's Public Works Director. Bid proposals and <br />engineering costs related to the work described herein shall be subject to prior approval by <br />County's Public Works Director. The DEVELOPER shall not commence work unless the <br />County's Public Works Director provides written approval of the final construction cost and <br />the final project cost. The COUNTY may require redesign and/or re -bid if, in the <br />COUNTY'S sole discretion, project costs significantly exceed those contained in Exhibit <br />"E." Bids shall include Performance and Payment Bonds with the COUNTY being named an <br />additional_ party --covered =by -the Bonds. Upon completion and acceptanceofthe road <br />improvements, DEVELOPER shall provide a bill of sale to COUNTY for the improvements <br />in this paragraph together with a one year warranty covering said improvements. The bid <br />price of the selected bid shall be deemed to be the "Fixed Contract Price" for purposes of this <br />Agreement. The COUNTY shall reimburse Developer for 50% of the Fixed Contract Price. <br />If the actual construction costs exceed the Fixed Contract Price, DEVELOPER and <br />4 <br />J:\Planning & Zoning\AGUERREVERE, ENRIQUE\Segovia Lakes clean 8-10-04 version.doc <br />