8/25/2016 1:48:02 PM
9/30/2015 7:23:44 PM
Official Document Type
Agenda Item Number
Abingdon Woods LLC
Required improvements, cash deposit and escrow agreement
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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 /> which amount is not less than one hundred fifteen percent ( 115 % ) of <br /> the estimated total cost of improvements remaining to be constructed , as determined <br /> in accordance with the County's Subdivision and Platting Ordinance . It is understood <br /> that the full amount of the escrow deposit shall remain available to the County and <br /> shall not be reduced during the course of construction unless approved in writing by <br /> the County' s Public Works Director pursuant to Indian River County Code Section <br /> 913 . 10 . 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 /> 2 <br /> F:lattomey\nancy\DOCS\PLAN\k for const w cash abington woods . doc <br />
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