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execution hereof. The County shall accept those areas specifically dedicated to the <br /> County for the purposes indicated on the plat at the time of plat recordation . However, <br /> nothing herein shall be construed as creating an obligation upon the County to perform <br /> any act of construction or maintenance within such dedicated areas until such time as <br /> the required improvements are satisfactorily completed . <br /> Developer shall remain responsible for utility meter boxes , sewer clean <br /> outs , and drainage culvert inverts , to be in good repair, accessible, correctly plumbed , <br /> and not covered with topsoil , concrete or impervious material for the 3-year <br /> maintenance period commencing after County issuance of a Certificate of Completion . <br /> Notice of this ongoing responsibility shall be provided by Developer to any subsequent <br /> builderlhomeowner. <br /> Satisfactory completion in accordance with the land development permit, <br /> plans , specifications , and ordinance requirements of Indian River County shall be <br /> determined by the County and shall be indicated by specific written approval of the <br /> Public Works Director or his designated representative, after receipt of a signed and <br /> sealed Certificate of Completion from the project engineer of record . <br /> 6 . In the event the Developer shall fail or neglect to fulfill its <br /> obligations under this contract and as required by the Indian River County Code, the <br /> Developer, as principal , and the letter(s) of credit shall be jointly and severally liable to <br /> pay for the cost of construction and installment of the required improvements to the final <br /> total cost, including but not limited to engineering , construction , legal and contingent <br /> costs, 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. In no event, however shall the liability of the <br /> underwriting bank under this paragraph exceed the total amount of the original <br /> obligation stated in the letter(s ) of credit, less any approved reductions thereto. <br /> 7. The parties agree that the County at its option shall have the right, <br /> but not the obligation , to construct and install or, pursuant to receipt of competitive bids , <br /> cause to be constructed and installed the required improvements in the event <br /> Developer shall fail or refuse to do so in accordance with the terms of this contract. <br /> Developer expressly agrees that the County may demand and draw upon the existing <br /> letter(s) of credit for the final total cost of the improvements , including the cost of the 3- <br /> year maintenance security necessary to get the certificate of completion for the project <br /> should Developer fail or refuse to complete the project. Additionally, Developer <br /> expressly grants the County, its agents, contractors and subcontractors access to the <br /> property should Developer fail or refuse to complete the project. Developer shall <br /> remain wholly liable for any resulting deficiency, should the letter(s) of credit be <br /> 3 <br /> F:bAttomey\NancyTOCSIPLAMpolnte west east village i k for con.doc <br />