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<br /> <br /> <br /> <br /> <br /> <br /> <br /> YMEREAS, the Principal has entered into an tigreernlcni with the Obligee and/or its <br /> applicable agencies, departments, boards, commissions, officers and employees, concurrently <br /> <br /> with this Bond, to complete the aforementioned Connector Road - Phase 3 Roadway <br /> Improvements within the time therein specified, or such extension as may be mutually agreed <br /> <br /> upon, and upon default, the Obligee and/or its applicable agencies, departments, boards, <br /> commissions, officers and employees, may cause the same to be completed and recover the costs <br /> <br /> thereof from the Principal and Surety, which said Agreement is made part of this Bond the same <br /> as though set forth herein; and <br /> <br /> WHEREAS, the Connector Road - Phase 3 Roadway Improvements shall be constructed <br /> <br /> in accordance with construction plans and specifications approved by all appropriate agencies <br /> and further approved by the Planning Department in the above-referenced Subdivision Files, and <br /> <br /> by this reference made a part of this Agreement, <br /> <br /> NOW, THEREFORE, if the above Principal shall fully and faithfully do and perform all <br /> of the things agreed by the Principal, to be done and performed according to the terms of said <br /> <br /> Agreement and shall construct and install all of the improvements for the Connector Road - <br /> Phase 3 Roadway Improvements in accordance with the construction plans therefore on or before <br /> <br /> two (2) years from the date of said Agreement, or within such time extension as may be mutually <br /> agreed upon by Obligees and Principal in writing, that upon the final approval of the Connector <br /> Road - Phase 3 Roadway Improvements by the Obligee and its applicable agencies, departments, <br /> <br /> boards, commissions, officers and employees, this obligation shall be void; otherwise it shall be <br /> and remain in full force and effect. - <br /> <br /> <br /> Principal, in their fiduciary capacities as Trustees as aforesaid and not in their individual <br /> capacities, do hereby covenant and agree with County that Principal has full power and authority <br /> to construct and install all of the improvements for the Connector Road - Phase 3 Roadway <br /> <br /> improvements. <br /> <br /> Any liability that may arise as a consequence of the execution of this instrument by or on <br /> behalf of the Trustees Under that Certain Unrecorded Land Trust Agreement for the Parker Land <br /> <br /> Trust, dated September 13, 2002, as Amended, shall be a liability of said Parker Land Trust, and <br /> <br /> <br /> 4617-7141-2737.1 - 3- <br />