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i RESOLUTION 2004- 137 18. Prior to the issuance of a certificate of completion for phase 5, the southern leg of the 43rd Avenue extension, from the northern project entrance on 43rd Avenue to 49th Street, shall be completed as identified on the master development plan. Intersection Improvements 19. No building permits for Waterway Village DRI shall be issued for more than 337 dwelling units or after December 31, 2005, whichever occurs later, until either: 1) contracts have been let for the intersection improvements identified below; or 2) a local government developer's agreement has been executed and attached as an exhibit to the DO. Surety shall be provided to the satisfaction of Indian River County or the Florida Department of Transportation that sufficient funds will be available to complete the following intersection improvements, including signalization modifications as warranted by County or State criteria. • 53rd Street and 58th Avenue: Signalize intersection and add left turn lanes on all approaches. • 53rd Street/Project entrance (51St Court): Install flasher convertible signal. • 53rd Street/43rd Avenue: Install flasher convertible signal. • 491h Street/43rd Avenue: Install flasher convertible signal. • 491h Street/Project Entrance (51St Court): Install flasher convertible signal. 20. No building permits for Waterway Village DRI shall be issued for more than 337 dwelling units or after December 31, 2005, whichever occurs later, until either: 1) contracts have been let for the intersection improvements identified below; or 2) the improvements identified below have been included within the first two years of either the Indian River County adopted Road Building Program, or the Florida Department of Transportation adopted Five Year Work Program; or 3) a local government developer's agreement has been executed and attached as an exhibit to the DO. Surety shall be provided to the satisfaction of Indian River County or the Florida Department of Transportation that sufficient funds will be available to complete the following roadway and intersection improvements, including signalization modifications as warranted by County or State criteria. • 491h Street and 58th Avenue: Signalize intersection and add left turn lanes on all approaches • 45th Street and 58th Avenue: Signalize intersection and add left turn lanes on all approaches. • 53rd Street from 58th Avenue to the project entrance (SIS` Court) as a two lane roadway. 21. No building permits for Waterway Village DRI shall be issued for more than 635 dwelling units or after December 31, 2006, whichever occurs later, until either: 1) contracts have been let for the intersection improvements identified below; or 2) the improvements identified below have been included within the first two years of either the Indian River County adopted Road Building Program, or the Florida Department of Transportation adopted Five Year Work Program; or 3) a local government developer's agreement has been executed and attached as an exhibit to the DO. Surety shall be provided to the satisfaction of Indian River County or the Florida Department of Transportation that sufficient funds will be available to complete the Strike through=deleted.texts Bold Italic=added text 5 FACommunity Development\Users\CurDev\RESOLUTION\2004 Resolutions\Waterway Village Resoluation 2004-.rtf