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LAURELWOOD, UNIT 3 <br />INDIAN RIVER COUNTY <br />enclosure 4 <br />Bond No. 9b0E7533 <br />STREET AND DRAINAGE MAINTENANCE BOND <br />KNOW ALL MEN BY THESE PRESENTS, that LAUREL BUILDERS, INC., a Florida <br />corporation, of Indian River County, Florida, hereinafter referred to as Developer, as <br />Principal, and TRAVELERS INDEMNITY COMPANY, a Connecticut corporation licensed <br />to do business in the State of Florida, hereinafter called Surety, as Surety, are held and <br />firmly bound unto Indian River County, a political subdivision of the State of Florida, as <br />Obligee, in the full and just sum of NINE THOUSAND, FIVE HUNDRED AND NO/100 <br />DOLLARS ($9,500. 00) lawful money of the United States of America, bind tfiemselves, <br />their heirs, executors, administrators, successors and assigns, jointly and severally, <br />firmly by these presents. <br />WHEREAS, the Developer has developed a subdivision in Indian River County, Florida. <br />known and identified as LAURELWOOD, UNIT 3, and recorded in Plat Book 10, Page 55, <br />and in connection therewith has installed with the approval of the County certain streets and <br />drainage works under the provisions and requirements of the Board of County Commissioners. <br />NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the <br />Developer shall maintain said roads and other structures in first class condition for a period <br />of one year from the date of the agreement by Indian River County to accept said roads and <br />other structures for maintenance and shall replace all paving or other structures which <br />within said one year period shall be found not to comply with said requirements and shall <br />pay any and all costs or expenses incident to the performance of any work required to be <br />performed hereunder, then this obligation to be void; otherwise to be and remain in full <br />force and effect. <br />Signed and sealed this 22nd day of September, 1980. <br />PRINCIPAL <br />LAUREL BUILDERS, INC. <br />BY RaT <br />Witness Robert T. Shutts, Executive Vice President <br />SURETY <br />TRAVELERS INDEMNITY COMPANY <br />Ll <br />BY,'4A.WVdi <br />fitness tney, <br />Nip <br />torney-in-Fact <br />OCT 81980 <br />69 non 4 PAGE 865 <br />