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40 QW 40 SC - 14. Insurance: DEVELOPER. agrees to ensure that the selected Contractor for the project provides insurance coverage in accordance with Indian River County Utilities Department requirements. in addition, Indian [fiver Count), shall be named as an additional insured and the Developer shall provide an original certificate of insurance to the COUNTY. SC - 15. Maintenance Bond: The DE'V'ELOPER agrees to convey all right, title and interest in the aforementioned utility improvements to Indian River County, Florida, and provide a Maintenance Bond for a period of one-year after acceptance by the COUNTY. The value of tlic Maintenance Bond shall be twenty-five percent (25%) of the total construction value of the utility improvements. SC - 16. Multivlc Counterparts: This Agreement may be executed in a number of identical counterparts which, taken together, shall constitute collectively one (f) agreement; but in making proof of this Agreement, it shall not be necessary to produce or account for more than one such counterpart executed by the party to be charged. 5C - 17 Rt;cording of Agreement: The Agreement shall be recorded in the public records of Indian River County. The obligations defined in this Agreement shall be a condition, which shall run with the land and shall bind subsequent owners of the property for the term of this. Agreement. SC -1 . Severability f Invalid Provision: If any provision of the Agreement is hold to be illegal, invalid or unenforceable under present or future laws, such provision shall be fully severable; this Agreement shall be cot stnicd and enforced as if such illegal, invalid or unenforceable provision had never comprised a part of this Agreement, and the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by such illegal, invalid, or unenforceable provision or by its severance from this Agreement. SC - 19. Term: The term of this Agreement is five 5 ears. Unless otherwise authorized in writing this Agreement shall be not be renewed automatically for successive terms at the expiration of any preceding tenn. The Terms of this Agreement shall run concurrently with FDEP Permit to Construct and with the County's Utility Construction Permit whichever is less but shall be not more titan five 5) -years front the date of issuance. SC - 20. Time of Essence: Time is of the essence of this Agreement; however, if the final date of any period which is set out in any provision of this Agreement falls on a Saturday, Sunday or legal holiday under the laws of the United States or the State of Florida, then, in such event, the time of such period shall be extended to the next day which is not a Saturday, Sunday or legal holiday. Page4 ur6 F1411�rs't7nLrrY•EuiPiEERftiCPrupri•eWuY'C'eRtrwLttl pe[tta11'kVh 9neet cmt&Al4h Sacs NqrCaoa- Iksebpm. AP1%rrww&c Dadeper's %VCM=1 .i 51Stw4 M%igri Center