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2. Developer agrees to construct said improvements strictly in <br />accordance with the land development permit, the most recent set of plans and <br />specifications for this subdivision approved by the County and on file in the <br />Planning and Development Division, and all County development regulations and <br />standards, including conditions and requirements of any applicable County right- <br />of-way permit, all of which are hereby incorporated by reference and made a pan <br />hereof. <br />3. In order to guarantee performance of this contract, Developer <br />shall simultaneously herewith furnish an executed cash deposit and escrow <br />agreement, in a form to be approved by the County Attorney, between Developer <br />and the Indian River County Office of Management and Budget, as the escrow <br />agent, in the amount of $ 2�r o , which amount is not less than one <br />hundred fifteen percent (115%) of the estimated total cost of improvements <br />remaining to be constructed, as determined in accordance with the County's <br />Subdivision and Platting Ordinance. It is understood that the full amount of the <br />escrow deposit shall remain available to the County and shall not be reduced <br />during the course of construction without an express written modification thereof, <br />the escrow agreement executed by all the parties. Requested reductions shall <br />not be unreasonably withheld by the County. Developer may at any time <br />substitute guarantees, subject to the approval as to form and amount by the <br />County. <br />4. Up to $1,000,000.00, or the limits of any applicable underlying <br />or excess insurance coverage carried by Developer or to be obtained during the <br />course of the construction of the subdivision improvements, Developer agrees to <br />indemnify, hold harmless, and defend the County against any and all claims, <br />damages, losses, and expenses, including attorneys fees, for property damage, <br />personal or bodily injury, or loss of life, arising from the negligent acts or <br />omissions of the Developer, its officers, employees, agents, or contractors, <br />subcontractors, laborers, or suppliers, relating to the construction of the required <br />improvements, including all those improvements to be constructed on existing <br />publicly dedicated or County -owned property, such as street, sidewalk, bikepath, <br />lighting, signalization, traffic control, drainage, water, or sewer improvements. <br />5. The County agrees to approve the plat for recordation in the Public <br />Records of Indian River County, Florida upon a finding as to compliance with all <br />applicable provisions of the County's Subdivision and Platting Ordinance and <br />upon execution hereof. The County shall accept those areas specifically <br />dedicated to the County for the purposes Indicated on the plat at the time of plat <br />recordation. However, nothing herein shall be construed as creating an <br />obligation upon the County to perform any act of construction or maintenance <br />within such dedicated areas until such time as the required improvements are <br />satisfactorily completed. Satisfactory completion in accordance with the land <br />development permit, plans, specifications, and ordinance requirements of Indian <br />River County shall be determined by the County and shall be indicated by <br />