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M <br />M . <br />the said water treatment plant and system will be completed <br />within one year in accordance with the plans and specifications. <br />3. It is agreed between the parties that if said <br />water treatment plant and system is completed within the one -ye <br />period according to the plans and specifications and approved <br />and accepted by the Party of the Second Part, then the said <br />performance bond will be released and of no further force and <br />affect; but in the event said water treatment plant and system <br />are not satisfactorily completed within said one-year period, <br />then the Party of the Second Part will have the right to call <br />this agreement in default and require the bond to become due, <br />whereupon the Party of the Second Part will use said bond <br />proceeds to complete the water treatment plant and system on <br />said project. <br />4. This agreement is binding upon the heirs, personal <br />representatives, administrators, successors and assigns of the <br />Parties of the First Part. <br />IN `FITNESS WHEREOF, the said parties have caused this <br />agreement to be executed the day and year first above written. <br />Signed, sealed and delivered <br />in a presence of: PARTIESo9F THE FIRST P T• <br />;G <br />„y _ � 1_'Lowe11 Lohman, <br />as tVarty . o fes'. - ..ry . Part <br />LAN/ OFFICES <br />VOCELLE, <br />GALLAGHER <br />BLOCK <br />P. B. BO% 1900 <br />VERO BEACH, FLORIDA <br />32966 <br />FEB 231977 <br />Op�l M. Silverman <br />PARTY OF THE SECOND PARS: <br />INDIAN RIVER COUNTY, <br />FLOR A <br />2K& By: . I � �'6' , <br />William C. Wodtke, JV-, as C <br />man of Board of County <br />Commissioners <br />Attest: Jh <br />, cier <br />floor ?8 496 <br />J <br />