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��M <br />W <br />DEVELOPER'S COST COMPLETION BOND <br />KNOW ALL MEN BY THESE PRESENTS, That the undersigned <br />LAUREL BUILDERS, INC. as PRINCIPAL is held and firmly bound unto <br />the BOARD OF COUNTY COMMISSIONERS of INDIAN RIVER COUNTY, FLORIDA, <br />in the cash penal sum of FIFTY-FOUR THOUSAND SEVENTY-SEVEN AND <br />20/100 DOLLARS ($54,077.20), which sum has been deposited in <br />escrow with the Board of County Commissioners of Indian River <br />County, Florida, in accordance with the provisions of an Escrow <br />Agreement of even date which is attached hereto and made a part <br />hereof by this reference to it, Laurel Builders, Inc. does bind <br />itself, successors, assigns and legal representatives, jointly <br />and severally, firmly by this Bond. <br />. The condition of this Bond is that the street paving and <br />storm drainage improvements to be made as shown on Subdivision <br />Plans and Specifications dated November 4, 1975 and revised July <br />12, 1977 for the subdivision, Laurelwood, Unit 2, shall be <br />completed within the time specified therein or any extension <br />thereof, and all costs incurred in connection therewith shall be <br />paid in full, and in accordance therewith and with the documents <br />and specifications referred to therein or attached thereto, then <br />this obligation shall be null and void, otherwise it shall remain <br />In full force and effect. <br />September 15, 1977 <br />LAUREL BUILDERS, INC. <br />BY: / • <br />Robert T. Shutts <br />Executive Vice President <br />