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shall have the right to construct and install or, pursuant.to <br />receipt of competitive.bids, cause to be constructed and installed <br />the required improvements in the event Developer shall fail or <br />refuse to do so in accordance with the terms of this contract. <br />Developer expressly agrees that the County may dema:.d and draw <br />upon said Letter of Credit for the final total cost thereof. <br />7. Any guarantee or surety provided to the County by <br />Developer with respect to this contract shall exist solely for the <br />use and benefit of the County and shall not be construed or <br />intended in any way to benefit or secure payment to any <br />subcontractor, laborer, materialman or other party providing <br />labor, material, supplies, or services for construction of the <br />required improvements, unless the County shall agree otherwise in <br />writing. <br />IN WITNESS WHEREOF, the parties hereto have set their <br />hands and seals on the day and year first above written. <br />CORPORATE INVESTMENT`COMPANY <br />By �e <br />G <br />HN J. Rz�BBOO- D, President <br />ATTEST: GC% <br />(CorporGtP,', Leak; r' <br />ATTEST: <br />FREDA WRIGHT, Clerk <br />INDIAN RIVER COUNTY, FLORIDA <br />By: <br />DO".S URLCCK, J �4� <br />Chairman, Board of <br />County Commissioners <br />Approved as to form <br />A <br />' rtc, <br />nbu g <br />—3— <br />DEC <br />3— <br />DEC 15 1982 t oX 5 r 2 FADE <br />