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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
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<br /> F :\Attorney\Nancy\DOCS\PLAN\k for construct CASH replat of eagle trace . doc
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