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THE SURETY FURTHER COVENANTS AND AGREES that in the event <br /> Principal fails to keep this warranty and guaranty bond in full force and effect until <br /> September 26., 2009 , that Surety shall provide written notice by certified mail , return <br /> receipt requested , to Indian River County Office of Management and Budget at 1801 <br /> 27'h Street , Vera Beach , Florida 32960 of the Surety' s intent to cancel the warranty and <br /> guaranty bond ninety days prior to the warranty and guaranty bond expiring . In the <br /> event that the Principal does not provide alternate security within thirty days of such <br /> notice , the County shall have the right to draw on the full cash amount of this bond <br /> notwithstanding the lack of any default under the agreement . <br /> It is expressly understood that the protections provided by this bond shall <br /> run exclusively to the County and its successors or assigns and same are not expressly <br /> or impliedly intended to protect or save harmless any contractor, subcontractor , <br /> supplier , materialman , laborer , purchaser , or other party unless expressly agreed and <br /> acknowledged by Indian River County in writing , In the event required improvements . <br /> are dedicated to a private homeowner' s association , that association (after turnover of <br /> control from Principal ) is an intended third party beneficiary of this bond . <br /> IN WITNESS WHEREOF , the Principal and the Surety have executed <br /> these presents this 23rdlay Of ';P3jtPmbPT 12008 , <br /> MS Rialto Verona Trace , FL <br /> Witnesses : <br /> signature ; bofj <br /> By * * see Attached uigmatur Block <br /> printed name ' " `!�' f— - �/ printed name : <br /> i title : <br /> ( President , V . P . or CEO ) <br /> sign urea_ <br /> printe ePRINCIPAL <br /> Lexon Insurance Company <br /> SURETY <br /> Att rney4mFact <br /> ust attached Power of <br /> Attorney and affix <br /> corporate seal ) <br /> James I . Moore - FL License : A183300 <br /> M <br /> L <br /> (' ;\Attorney\Nancy\DOCS\PLAN\maint developer surety bond verona (substitutiou ) . doc <br />