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2005-051
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2005-051
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Last modified
7/7/2016 11:52:22 AM
Creation date
9/30/2015 7:46:30 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Contract
Approved Date
02/08/2005
Control Number
2005-051
Agenda Item Number
7.H.
Entity Name
GHO Vero Beach VII Inc.
Subject
Cash Deposit , Escrow Construction of Required Improvement
Area
Townhouses at Trillium
Archived Roll/Disk#
4000
Supplemental fields
SmeadsoftID
3902
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t <br /> 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 sidewalk improvements <br /> strictly in accordance with County policies for sidewalk construction as those <br /> policies relate to location , method and type of construction , and all County <br /> development regulations and standards , including conditions and requirements <br /> of any applicable County right-of--way permit, all of which are hereby incorporated <br /> by reference and made a part hereof. <br /> 3 . In order to guarantee performance of this contract, Develdper <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 $ 8 ,234.00 , which amount is not less than one hundred fifteen <br /> percent ( 115 % ) of the estimated total cost of sidewalk improvements remaining <br /> to be constructed , as determined in accordance with the County's Subdivision <br /> and Platting Ordinance. It is understood that the full amount of the escrow <br /> deposit shall remain available to the County and shall not be reduced during the <br /> course of construction except as provided in Indian River County Code Section ' <br /> 913 , 10(4 ) ( B )_ 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 /> I <br /> ndemnify, 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 upon <br /> 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 sidewalk improvements are satisfactorily completed . Satisfactory <br /> completion in accordance with the land development permit, plans , <br /> specifications , and ordinance requirements of Indian river County shall be <br /> dstermined by the County and shall be indicated by specific written approval of <br /> the Public Works Director or his designated representative , after 'receipt of a <br /> signed and sealed Certificate of Completion from the project engineer of record . <br /> 2 <br /> F;WwneyW,Ky\D0CSVLANVide k to ush torn honw at Williutrt.doc <br />
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