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