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RESOLUTION 2010- 037 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 intersection improvements, including signalization modifications as warranted by County or State criteria. • 49th Street and US 1: Add eastbound left turn lanes and signalize. Internal Roadway Improvements 27. As a minimum, the following turn lanes shall be provided at the intersection of 53rd Street and the project entrance (51st Court): Westbound left -turn lane Eastbound right -turn lane Northbound left and right -turn lanes 28. As a minimum, the following turning lanes shall be provided at the intersection of 49°i Street and the project entrance (51st Court): Westbound right -turn lane Eastbound left turn lane Southbound left -turn lane and right turn lanes Other Issues 29. Once the County has commenced construction on the segment of 53rd Street between the Lateral H Canal bridge and the FEC railroad crossing, the County shall notify the developer to commence construction on the portion of 53rd Street from the Lateral H Canal bridge to the existing 53rd Street terminus. Within six months from the date of the County's notice to commence construction, the developer shall commence the construction of that segment and shall complete construction of that segment within eighteen months after commencement.. In the event that the developer fails to commence construction within six months of the developer's receipt of the County's notice or fails to complete construction within eighteen months after commencement, the County shall cease issuing building permits unless and until the developer commences construction or completes construction, respectively 30. Commencing in 2005 and continuing every year thereafter, the developer shall submit an Annual Status Report indicating the status (schedule) guaranteed improvements, monitoring and study. This Annual Status Report shall be submitted to Indian River County, Florida Department of Transportation, Council and the Department of Community Affairs as part of the DRI Annual Report. The Annual Status Report shall list all roadway improvements needed to be constructed, the guaranteed date of completion for the construction of each needed improvement, the party responsible for the guaranteed construction of each improvement, and the form of the binding commitment that guarantees construction of each improvement. Additionally, this report shall F:\Community Development\Users\CurDev\RESOLUTION\2010 Resolutions\Waterway Village.DOC 9