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<br />4D
<br />• INDIAN RIVER COUNTY ID:561-770-5095 FEB 28'00 10:29 No, 004 P.03
<br />2. Developer agrees to construct said Improvements strictly In
<br />accordance with the land development permit, the most recent Bet of plans and
<br />specifications for this subdlvislon approved by the Gounty 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 arcs hereby incorporated by reference and made a part hereof.
<br />3. in order to guarantee performance of this contract, Developer shall
<br />simultaneously horewith furnish a performance bond underwritten by a surety Insurer,
<br />authorized to transact such business In this state, which shall remain In full force and
<br />effect until at least ninety (90) days beyond the date sot forth In paragraph 1, or unill the
<br />covenants of thin contract have been fully complied with and natisfactodly completed as
<br />determined by the County pursuant to paragra�ah 5 below, In a form to be approved by
<br />the County, with Developer as principal and EiarCford Fire Insurance Co., as
<br />the surety, In the amount of S 655,619.0 -which amount is not less than one
<br />hundred fifteen percent [115%) of the estimafhd total cost of improvements remaining
<br />to be constructed, as datormIned in accordance with the County's Subdivision and
<br />Platting Ordinance. It Is understood that the full amount of the guaranty shall remain
<br />available to the County and shall not be reduced during the course of construction
<br />without an express written modification tharoof exemlad by all parties. Requested
<br />reductions shall not be unreasonably withheld by the County. Devoiopnr may at any
<br />lime 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 carrier! by Developer or to be obtained during Via course of
<br />the constnrctlon of the subdivision improvements, Developer agrees to Indemnify, hold
<br />harmless, and defend the County against any and all claims, damagos, losses, and.
<br />expenses, Including attomoyr. fees, for property damage, personal or bodily injury, or
<br />loss of life, an.,'rg from the negligant acts or omissions of the Developer, Its offrcena,
<br />employees, agents, or contractors, subcontractors, laborers, or suppliers, relating to the
<br />construction of the required improvements, including all thono improvements to be
<br />constructed on existing publicly dedicated or County -owned property, such ns street,
<br />sidewalk, blkepath, lighting„ signalixation, traffic control, drainage, water, or sewer
<br />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 complinnco with all
<br />t,py;iicUrsli; privisluoti ui lite i:ounty's Suba rasion and Malting Oidinance and upo^
<br />execution hereof. The County shall accept those areata specifically dedicated to the
<br />County for the purposes Indicated on the plat at the tlmo of plat recordation. However,
<br />nothing hvreln shall be construed as creating an obligation upon the County to perforce
<br />any act of construction or maintenance wilhin such dedicated areas until such time as
<br />the required improvements are satisfactorily completed.- Satisfactory completion In
<br />accordance v0th the fund dovol spment parmil, plans, specliiraliuiw, uild urdirl anctr
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