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2005-141
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2005-141
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Last modified
7/15/2016 1:51:39 PM
Creation date
9/30/2015 8:39:20 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Contract
Approved Date
05/03/2005
Control Number
2005-141
Agenda Item Number
7.L.
Entity Name
Abington Woods LLC
Subject
Contract Construction of Required Sidewalk Improvements
Cash Deposit and Escrow Agreement
Area
Abington Woods
Supplemental fields
SmeadsoftID
4881
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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 improvements strictly in <br /> accordance with County policies for sidewalk construction as those policies <br /> relate to location , method and type of construction , and all County development <br /> regulations and standards , including conditions and requirements of any <br /> applicable County right-of-way permit , all of which are hereby incorporated by <br /> 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 $ 26 , 001 . 50 , which amount is not less than one hundred fifteen <br /> percent ( 115 °/x ) of the estimated total cost of improvements remaining to be <br /> constructed , as determined in accordance with the County' s Subdivision and <br /> Platting Ordinance . It is understood that the full amount of the escrow deposit <br /> shall remain available to the County and shall not be reduced during the course <br /> of construction . Developer may at any time substitute guarantees , subject to the <br /> 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 and all claims , <br /> damages , losses , and expenses , including attorney' s fees , for property damage , <br /> personal or bodily injury , or loss of life , arising from the negligent acts or <br /> omissions of the Developer, its officers , employees , agents , or contractors , <br /> subcontractors , laborers , or suppliers , relating 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 , <br /> upon a finding as to compliance with all applicable provisions of the 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 time as the <br /> required improvements are satisfactorily completed . Satisfactory completion in <br /> accordance with the land development permit , plans , specifications , and <br /> ordinance requirements of Indian River County shall be determined by the <br /> County and shall be indicated by specific written approval of the Public Works <br /> Director or his designated representative , after receipt of a signed and sealed <br /> Certificate of Completion from the project engineer of record . <br /> 2 <br /> F :\Attomey\Nancy\DOCS\PLAN\side k cash cert completion abington woods .doc <br />
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