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w and not covered with topsoil , concrete or impervious material for the 3 -year maintenance period commencing after County issuance of a Certificate of Completion . Notice of this ongoing responsibility shall be provided by Developer to any subsequent builder/homeowner. Satisfactory completion in accordance with the land develo ment permit , plans , specifications , and ordinance requirements of Indian River County shall be determined by the County and shall be indicated by specific written approval of the Public Works Director or his designated representative , after receipt of a signed and sealed Certificate of Completion from the project engineer of record . 6 . In the event the Developer shall fail or neglect to fulfill its obligations under this contract and as required by the Indian River Cou ty Code , the Developer, as principal , and the letter( s ) of credit shall be jointly and severally liable to pay for the cost of construction and installment of the required improvements to the final total cost , including but not limited to engineering , construction , legal and contingent costs , including reasonable attorney's fees incurred by the County , toge her with any damages , either direct or consequential , which the County may sustain as a result of the failure of Developer to carry out and execute all provisions of this contract and applicable ordinances of the County . In no event , however shall the liability of the underwriting bank under this paragraph exceed the total amount of the original obligation stated in the letter(s ) of credit , less any approved reductions thereto . 7 . The parties agree that the County at its option shall have the right , but not the obligation , to construct and install or, pursuant to receipt of competitive bids , cause to be constructed and installed the required improvements n the event Developer shall fail or refuse to do so in accordance with the terms of this contract . Developer expressly agrees that the County may demand and draw upol the existing letter(s ) of credit for the final total cost of the improvements . Developer shall remain wholly liable for any resulting deficiency , should the letter(s ) of credit beexhausted prior to completion of the required improvements . In no event shall the County be obligated to expend public funds , or any funds other than those provided by the Developer, or the underwriting bank to construct the required improvements . 8 . Any letter(s ) of credit provided to the County by D veloper with respect to this contract shall exist solely for the use and benefit of the County and shall not be construed or intended in any way , expressly or impliedly , to benefit or secure payment to any subcontractor, laborer, materialman or other party providing labor, material , supplies , or services for construction of the required improvements , or to benefit any lot purchaser( s ) , unless the County shall agree otherwise in wrting . 9 . This agreement is the full and complete und erstE nding of the parties and shall not be construed or amplified by reference to any othE r agreement , discussion , or understanding , whether written or oral , except as specifically mentioned herein . This agreement shall not be assigned without the express writtel approval of 3 F :\Attorney\Nancy\DOCS\PLAN\stoney brook k for con for loc 125% .doc