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Project: High Pointe <br />65th StJ Old Dixie Hwy Subgrade water main <br />crossing utility improvements <br />CONTRACT FOR CONSTRUCTION OF <br />UTILITY IMPROVEMENTS ON FLORIDA EAST COAST RAILWAY, LLC <br />PROPERTY <br />AND <br />AGREEMENT TO WARRANTY AND GUARANTY UTILITY <br />IMPROVEMENTS AT COMPLETION AND TO PROVIDE A BILL OF <br />SALE <br />(RE: 65th StJ Old Dixie Hwy <br />Subgrade water main crossing) <br />THIS CONTRACT, made and entered into this 1 7th day of March, 2020 (the <br />"Effective Date") by and between GRBK GHO High Pointe, LLC, a Florida limited liability <br />company, having a mailing address of 590 NW Mercantile Place, Port St. Lucie, FL 34986, <br />hereinafter referred to as "Developer," and INDIAN RIVER COUNTY, a political subdivision of <br />the State of Florida, by and through its Board of County Commissioners, hereinafter referred <br />to as "County". <br />WITNESSETH: <br />WHEREAS, the undersigned Developer desires to construct certain off-site <br />improvements, consisting of a subgrade water main (the "Improvements") within the Florida East <br />Coast Railway, LLC property located at 65th Street and Old Dixie Highway (the "Crossing"); and <br />WHEREAS, plans for such Improvements have already been approved by the <br />Florida East Coast Railway, LLC; and <br />WHEREAS, in order for the County to modify the Blanket License Agreement <br />between Indian River County and Florida East Coast Railway, LLC, dated September 26, 1996, <br />to include the Improvements the County will require Developer to post acceptable security in <br />either the form of cash or a letter of credit from a lending institution acceptable to the County, in <br />the amount of 115 % of the estimated costs of the proposed Improvements, submitted under <br />seal by an engineer registered in the State of Florida to practice professional engineering, and <br />approved by County, to guaranty installation and completion of the Improvements to the <br />satisfaction of County; and <br />WHEREAS, said Improvements are to be completed within twelve (12) months <br />of the date of the security provided to the County herein referred to as the Effective Date; and <br />