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River County shall be determined by the County and shall be indicated by <br /> specific written approval of the Public Works Director or his designated <br /> representative , after receipt of a signed and sealed Certificate of Completion <br /> from the project engineer of record . <br /> 6 . The County agrees to issue building permits and Certificates <br /> of Occupancy prior to the installation of required sidewalk improvements so long <br /> as Developer is not in default of the terms of this Contract . <br /> 7 , In the event the Developer shall fail or neglect to fulfill its <br /> obligations under this contract and as required by the Code of Laws and <br /> Ordinances of Indian River County , Florida , the Developer, as principal , and the <br /> guarantor or surety shall be jointly and severally liable to pay for the cost of <br /> construction and installment of the required improvements to the final total cost , <br /> including but not limited to engineering , construction , legal and contingent costs , <br /> including reasonable attorney's fees incurred by the County , together with any <br /> damages , either direct or consequential , which the County may sustain as a <br /> result of the failure of Developer to carry out and execute all provisions of this <br /> contract and applicable ordinances of the County . <br /> 8 . The parties agree that the County at its option shall have the <br /> right , but not the obligation , to construct and install or, pursuant to receipt of <br /> competitive bids , cause to be constructed and installed the required <br /> improvements in the event Developer shall fail or refuse to do so in accordance <br /> with the terms of this contract . Developer expressly agrees that the County may <br /> demand and draw upon the existing guaranty or surety for the final total cost of <br /> the improvements . Developer shall remain wholly liable for any resulting <br /> deficiency , should the guaranty or surety be exhausted prior to completion of the <br /> required improvements , In no event shall the County be obligated to expend <br /> public funds , or any funds other than those provided by the Developer, the <br /> guarantor, or surety, to construct the required improvements . <br /> 9 . Any guaranty or surety provided to the County by Developer <br /> with respect to this contract shall exist solely for the use and benefit of the <br /> County and shall not be construed or intended in any way, expressly or impliedly , <br /> to benefit or secure payment to any subcontractor, laborer, materialman or other <br /> party providing labor, material , supplies , or services for construction of the <br /> required improvements , or to benefit any lot purchaser(s ) , unless the County <br /> shall agree otherwise in writing . <br /> 10 . This agreement is the full and complete understanding of the <br /> parties and shall not be construed or amplified by reference to any other <br /> agreement , discussion , or understanding , whether written or oral , except as <br /> specifically mentioned herein . This agreement shall not be assigned without the <br /> express written approval of the County. Any amendment , deletion , modification , <br /> 3 <br /> FAAttorney\Nancy\DOCS\PLAN\side k w perf bond dual obligee eagle trac .doc <br />