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f <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 irrevocable letter of credit , having an <br /> expiration date of not less than ninety ( 90 ) days beyond the date set forth in <br /> Paragraph 1 , provided by a banking institution authorized to transact such <br /> business in this state , in a form to, e approved by the County , naming Developer <br /> as customer and A, as the underwriting bank , in <br /> the amount of $ 148 , 739 . 85 , which amount is not less than one hundred fifteen <br /> percent ( 115 % ) 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 letter of credit <br /> shall remain available to the County and shall not be reduced during the course <br /> of construction without an express written modification thereof executed by all <br /> parties . Requested reductions shall not be unreasonably withheld by the <br /> County . 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 approve the Final Plat , upon a finding <br /> as to compliance with all applicable provisions of the County's Development <br /> Regulations and Ordinances and upon execution hereof. However, nothing <br /> herein shall be construed as creating an obligation upon the County to perform <br /> any act or construction or maintenance until such time as the required <br /> 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:\Attorney\Nancy\DOCS\PLAN\side k for loc fountains at amber lakes.doc <br />