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RESOLUTION 20492010 - 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 the north, south, and east ail approaches. • 53rd Street/Project entrance (51St Court): Install flasher convertible signal,- and provide a generator for testing if power is not available by January 1, 2011. • 531 Street/43r1 Avenue: Install flasher convertible signal. • 49th Street/431 Avenue: Install flasher convertible signal. • 49th 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) a contract has contracts have been let for the intersection improvement improvements identified below; or 2) theimprovement improvements identified below has 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 improvement improvements, including signalization modifications as warranted by County or State criteria. •--49th Street and 58th Avenue: Signalize intersection and add left turn lanes anon all approaches, • 45th Street and 58th turn lanes anon all approaches,, • 53rd Street anlfrom 58th Avenue to the project entrance Court) as a two lane roadway. (51St 20a. No later than six months after such time as the traffic modeling done in conjunction with the Annual Report determines that the traffic volumes on 58th Avenue between 49th Street and 53rd Street exceed the adopted level of service or b Janua 1 2015 whichever occurs first the four -lapin• of 58th Avenue between 49th Street and 53rd Street shall be commenced and shall be completed within twelve months after commencement. In the event the developer fails to commence construction within six months of the date the traffic modeling is submitted or by January 1, 2015 whichever occurs first or fails to complete construction within twelve months after commencement, the County shall cease RM: 7375429: 1 7