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monitoring, color -coding of water and wastewater equipment. DEVELOPER shall meet all <br />necessary IRCDUS construction requirements, including the posting of the required security. <br />16. Recording of Agreement: <br />This Agreement, and any assignment, may be recorded in the official records of Indian River <br />County by the COUNTY. If recorded, the DEVELOPER shall pay for all recording costs. <br />17. Severability / Invalid Provision: <br />If any provision of the Agreement is held to be illegal, invalid or unenforceable under present or <br />future laws, such provision shall be fully severable; this Agreement shall be construed and <br />enforced as if such illegal, invalid or unenforceable provision had never comprised a part of this <br />Agreement, and the remaining provisions of this Agreement shall remain in full force and effect <br />and shall not be affected by such illegal, invalid, or unenforceable provision or by its severance <br />from this Agreement. <br />18. Term: <br />The term of this Agreement is five (5) years. Unless otherwise agreed to by the parties in <br />writing, this Agreement shall not be renewed automatically for successive terms. <br />Notwithstanding the foregoing, this Agreement shall be coterminous with FDEP Permit for <br />construction and with the County's Utility Construction Permit, whichever provides a shorter <br />time period, but shall be not more than five (5) years from the date of issuance. The County <br />may terminate this Agreement early in its sole discretion if it determines that the development <br />project intended to be served by the improvements is suspended or discontinued. <br />19. Time of Essence: <br />Time is of the essence of this Agreement; however, if the final date of any period which is set <br />out in any provision of this Agreement falls on a Saturday, Sunday or legal holiday under the <br />laws of the State of Florida, then, in such event, the time of such period shall be extended to <br />the next business day which is not a Saturday, Sunday or legal holiday. <br />20. Release: <br />DEVELOPER, on behalf of itself and its successors, and assigns, hereby releases, acquits, and <br />forever discharges COUNTY and its respective present and former elected officials, employees, <br />agents, representatives, and insurers, from all claims, causes of action, demands, debts, <br />liabilities, and obligations, of every name and nature, known or unknown, asserted or <br />unasserted, accrued or unaccrued, both at law or in equity, from the beginning of time to the <br />Effective Date. <br />Page 6 <br />