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Rug 15 05 07 : 51a Indian Ri- ver __County 772 - 770 - 5095 pe 1 'I
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<br /> or otherwise required by the Code of Laws and Ordinances of Indian River
<br /> County in connection with the approved Preliminary Plat and Land Development
<br /> Permit , which are incorporated by reference into this contract.
<br /> 2 . Developer agrees to construct said sidewalk improvements
<br /> strictly in accordance with , County policies for sidewalk construction as those
<br /> policies relate to 'Ibcation , 'r efhod ` ,and type of tconstruction , anc all County
<br /> development . regulations Land standards ; including conditions and r quirements
<br /> of any applicable County right-of-way .permit, all of which are hereby incorporated
<br /> by reference and made a part hereof,
<br /> 3 . In order to guarantee performance of this contract , Developer
<br /> shall simultaneously herewith furnish an executed cash deposit and escrow
<br /> agreement in a form to be approved by the County , naming Developer and the
<br /> Indian River County Office of Management and Budget, as the escrow agent , in
<br /> the amount of $ 43 , 225 . 00 , which amount is not less than one hundred twenty-
<br /> five percent ( 125 % ) of the estimated , ,total , cost of sidewalk improvements
<br /> remaining , to: be . : construct ed , , as„detJ.ermined in :; accordance with the County' s
<br /> Subdivisioniand PlattingOrd. inance : :- It is understood that the full amount of the
<br /> escrow: deposit shall remains available to . the County „and shall not be reduced
<br /> during the course of construction except as provided in Indian R ver County
<br /> Code Section 913 . 10 (4 ) (B ) . Developer may at any time substitute uarantees ,
<br /> subject to the approval as to form and amount by the County.
<br /> 4 . Up to $ 1 , 000 , 000 , 00 , or the limits of any applicable underlying
<br /> or excess insurance coverage carried by Developer or to be obtained during the
<br /> course of the construction of the subdivision improvements , Developer agrees to
<br /> indemnify , hold harmless , and defend the County against any anc all claims ,
<br /> damages , losses , and expepses , including :attorney 's fees , for property damage ,
<br /> personal or bodily � 4njury , or; . loss ; of life ; arising from the negligent acts or
<br /> omissions - o .Developer, ; its officers , ', employees, agents , or ontractors ,
<br /> subcontractors, ' laborers ; or .suppliers, irelating to the construction , of the required
<br /> sidewalk improvements , including all those improvements to . be constructed on
<br /> existing publicly dedicated or County `owned property ,
<br /> 5 . The County agrees to issue a Certificate of Completion upon
<br /> a finding as to compliance with all applicable provisions of thm. County's
<br /> Development Regulations and Ordinances and upon execution hereof .
<br /> However, nothing herein shall be construed as creating an obligation upon the
<br /> County to perform any act or construction or maintenance until such ' ime as the
<br /> regwred sidewalk ' improvements arei" tsatisfactorily . ; completed . atisfactory
<br /> completion in accordance with1the land ` '. development permit , plans ,
<br /> specifications', and ordinance .; requirements . of ` Indi' an. River County shall be
<br /> determined by the County and shall `be indicated by specific written approval of
<br /> the Public Works Director or his” designated representative , after r ceipt of a
<br /> signed and sealed Certificate of Completion from the project engineer of record .
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<br /> r:\Attomey\Naney\DOCS\PLAN\sbrool�eld at trillium a cc side k. doe
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