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• <br />40 <br />40 <br />County, Florida upon the final approval of the Board of County Commissioners and <br />made a part hereof for all purposes. <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 />$25,331.63, which amount is not less than one hundred fifteen percent (115%) of the <br />estimated total cost of improvements remaining to be constructed, as determined in <br />accordance with the County's Subdivision and Platting Ordinance. It is understood that <br />the full amount of the escrow deposit shall remain available to the County and shall not <br />be reduced during the course of construction without an express written authorization <br />from County. Requested reductions shall not be unreasonably withheld by the County. <br />Developer may at any time substitute guarantees, subject to the approval as to form <br />and amount by the 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 <br />the 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, signalization, traffic control, drainage, water, or sewer <br />improvements. <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 />