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3 . Acknowledge that, in the event Developer fails to begin or cause <br /> repair of the defective required improvements within 20 days , or to complete such <br /> repairs within a reasonable time thereafter, the County shall have the right to make <br /> such needed repairs and Developer shall be liable to the County for the actual cost <br /> expended by the County for such repairs and any cost incident to the collection of such <br /> - -- -- -sums ,.—including-but-not limited-to—reasonable -attorney's fees-and-costs-of-l{tigatien — <br /> including any appeals ; and <br /> 4 . Provide herewith , or has provided heretofore in a manner satisfactory <br /> to the County , security to guaranty Developer's performance of. this agreement, being <br /> either a cash escrow deposit, irrevocable letter of credit presentable in Florida or bond <br /> issued by a . company licensed to do business in the State of Florida with an A. M . Best <br /> rating of A + XI . In the event Developer has not undertaken the repairs contemplated by <br /> this Agreement following a request by the County, the proceeds of any such security <br /> may be drawn upon by the County to the final total cost of Developer's obligations <br /> hereunder, not to exceed however, the applicable limits of the security. <br /> 5 . Grant and convey unto Indian River County all its right, title and <br /> interest in and to all public improvements , lying within the areas dedicated to the <br /> County, and Developer hereby warrants to the County that it has free and <br /> unencumbered title thereto , that all persons or entities which have supplied labor or <br /> materials with respect to such improvements have been paid in full , that none of them <br /> has any claim whatsoever with respect thereto , and that Developer shall hereafter <br /> forever warrant and defend the County's title thereto . <br /> IN WITNESS WHEREOF , Developer has hereunto set its hand and seal <br /> this ., FY day of , 2007 . <br /> Signed in the presence of: LOST LAKE LLC , a Florida limited <br /> liability company <br /> sign : <br /> -- Developer <br /> 4 <br /> print name : <br /> By: <br /> sign : nc ,�-e-�---, A- -, , eiTD L. a{ cetta , Manager <br /> print name : - �,rn, 5�..+,�., ./ <br /> 2 -- <br /> FAAtt0meylNancy\D0CSIPLANVost lakes maintenance.doc <br />