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C-3 I► 064 4b carry out and execute all provisions of this contract and applicable ordinances of the County. In no event, however shall the liability of the underwriting bank under this paragraph exceed the total amount of the original obligation stated in the letter(s) of credit, less any approved reductions thereto. 7. The parties agree that the County at its option shall have the right, but not the obligation, to install or, pursuant to receipt of competitive bids, cause to be installed the live oaks in the event Developer shall fail or refuse to do so in accordance with the terms of this contract. Developer expressly agrees that the County may demand and draw upon the existing letters) of credit for the final total cost of the transplanting and installation. Developer shall remain wholly liable for any resulting deficiency, should the letter(s) of credit be exhausted prior to completion of the required improvements. In no event shall the County be obligated to expend public funds, or any funds other than those provided by the Developer, or the underwriting bank to install and monitor the live oaks. 8. Any letter(s) of credit provided to the County by Developer with respect to this contract shall exist solely for the use and benefit of the County and shall not be construed or intended in any way, expressly or impliedly, to benefit or secure payment to any subcontractor, laborer, materialman or other party providing labor, material, supplies, or services for installation of the live oaks, or to benefit any lot purchaser(s), unless the County shall agree otherwise in writing. 9. Developer shall root -prune the live oaks 3-4 months prior to transplanting; transplant; maintain and irrigate; and monitor the viability of the 5 livr oaks for 60 months after May 2, 2001. Monitoring shall include several photographs of each tree from four compass points following transplantation. Comparison photographs should be prepared annually at the same month of the year following spring leaf flush. An annual arborist's report due July 2nd annually shall document establishment or decline of each live oak. 10. The Oeveloper shall not be liable for repair, treatment or replacement of the subject trees in the event said trees are damaged or destroyed due to acts of third parties beyond the control of Developer; severe weather such as hurricanes, lightning, flooding; wood destroying organisms, forces of nature and other acts of God. 11. This agreement is the full and complete understanding of the parties and shall not be construed or amplified by reference to any other agreement, discussion, or understanding, whether written or oral, except as specifically mentioned herein. This agreement shall not be assigned without the express written approval of the County. Any amendment, deletion, modification, extension, or revision hereof or hereto shall be in writing, executed by authorized representatives of both parties.