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40 <br />40 <br />40 <br />provisions of the County's Subdivision and Platting Ordinance and upon execution <br />hereof. The County shall accept those areas specifically dedicated to the County for <br />the purposes indicated on the plat at the time of plat recordation. However, nothing <br />herein shall be construed as creating an obligation upon the County to perform any act <br />of construction or maintenance within such dedicated areas until such time as the <br />required improvements are satisfactorily completed. Satisfactory completion in <br />accordance with the land development permit, plans, specifications, and ordinance <br />requirements of Indian River County shall be determined by the County and shall be <br />indicated by specific written approval of the Public Works Director or his designated <br />representative, after receipt of a signed and sealed Certificate of Completion from the <br />project engineer of record. <br />6. In the event the Developer shall fail or neglect to fulfill its obligations under <br />this contract and as required by the Indian River County Code, the Developer, as <br />principal, and the funds in escrow deposit shall be liable to pay for the cost of <br />construction and installment of the required improvements to the final total cost, <br />including but not limited to engineering, construction, legal and contingent costs, <br />including reasonable attorney's fees incurred by the County, together with any <br />damages, either direct or consequential, which the County may sustain as a result of <br />the failure of Developer to carry out and execute all provisions of this contract and <br />applicable ordinances of the County. <br />7. The parties agree that the County at its option shall have the right, but not <br />the obligation, to construct and install or, pursuant to receipt of competitive bids, cause <br />to be constructed and installed the required improvements in the event Developer shall <br />fail or refuse to do so in accordance with the terms of this contract. Developer <br />expressly agrees that the County may demand and draw upon the cash deposit for the <br />final total cost of the improvements. Developer shall remain wholly liable for any <br />resulting deficiency, should the cash deposit be exhausted prior to completion of the <br />required improvements. In no event shall the County be obligated to expend public <br />funds, or any fund other than those provided by the Developer to construct the <br />required improvements. <br />8. Any cash deposit provided to the County by Developer with respect to this <br />contract shall exist solely for the use and benefit of the County and shall not be <br />construed or intended in any way, expressly or impliedly, to benefit or secure payment <br />to any subcontractor, laborer, materialman or other party providing labor, material, <br />supplies, or services for construction of the required improvements, or to benefit any lot <br />purchaser(s), unless the County shall agree otherwise in writing. <br />g. This agreement is the full and complete understanding of the parties and <br />shall not be construed or amplified by reference to any other agreement, discussion, or <br />understanding, whether written or oral, except as specifically mentioned herein. This <br />