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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 /> $ 82 , 548. 44 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 modification <br /> thereof, the escrow agreement executed by all the parties . Requested reductions shall <br /> not be unreasonably withheld by the County . Developer may at any time substitute <br /> guarantees , 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 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 <br /> Records of Indian River County , Florida upon a finding as to compliance with all <br /> applicable provisions of the County's Subdivision and Platting Ordinance and upon <br /> 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 /> 2 <br /> F :\Attorney\Nancy\DOCS\PLAN\k for construct CASH replat of eagle trace . doc <br />