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�. ounz. � ice - i to - nuzi , <br /> P • <br /> 1 <br /> the preceding paragraph ; i . e . <br /> , twenty (20 % ) percent of the cost of each <br /> improvement, or portion thereof, shall be retained in the escrow acro Phase, <br /> final reduction , which shall occur only after issuance of a Certificate of Com <br /> accordance with the County's Subdivision and PlattingOrdinance . <br /> account until the <br /> Completion in <br /> once . <br /> 4 . Notwithstanding the above disbursement limits , at no time shall the <br /> ( 115 %) percent of the most recent approved <br /> account balance be reduced below an amount equal to one hundred fifte <br /> pproved cost estimate of the remaining en <br /> g required <br /> 5 . Within seven (7) working days after receipt of a disbursement <br /> request , the Public Works Director shall cause an inspection of the work for which <br /> payment is sought. if the Public Works Director is satisfied in all respects with th <br /> work, the accompanying cost estimates and certifications , the Public Works Di <br /> shall notify in writing the Countye <br /> Management and Budget shall ake the disbursement as <br /> ement dapprove The OfPubli f <br /> Works Director directly to Developer. approved by the Public <br /> s • Upon default by developer under the Contract, the County <br /> elect to pursue any of the remedies made available therein . All funds remains may <br /> the escrow account at the time default is declared by the County shall be available <br /> for use by the County in accordance with the Contract. Said mll in <br /> disbursed to the County upon receipt by the Office of Management and Budget of a <br /> certified copy of a resolution of the Board of Count funds shall be <br /> Developer has defaulted under the Contract and that said funds are necessary <br /> to <br /> complete the required improvements . All fu y Commissioners stating that <br /> final amount determined necessaryby the funds disbursed to County in excess ohe <br /> to <br /> improvements shall be returned to Developer, its �egaY represencomplet esths required <br /> or assigns, successors <br /> r <br /> 7. Any interest earned during the term of escrow, less admi <br /> expenses, shall be disbursed to Developers at close of escrow, nistrative <br /> 8 . The funds deposited hereunder exist solely for the protection use <br /> and benefit of the County and shall not be construed or intended in any wa <br /> expressly or impliedly, to benefit or secure payment to any contractor, subcontractor,y� <br /> laborer, materialman , architect, engineer, attorney or other art <br /> material , supplies , or services for construction of the required improvements or <br /> benefit any lot purchase, while such funds remain sub ' s Party providing labor, <br /> unless and until the County shall agree otherwise in writing , to <br /> subject to this escrow agreement, <br /> liable to any of the aforementioned parties for claims against the Developer <br /> contractor relating to the required subdivision ' g ' The County shall not be <br /> improvements . or <br /> 9 . This Agreement, together with the attached Contract, is the full <br /> and complete understanding of the parties and shall not be construed or amplified by <br /> reference to any prior agreement, discussion , or understanding , except <br /> specifically mentioned herein . This Agreement shall not be assigned without the <br /> express written approval of the County. Any amendment , deletion , modification , <br /> 2 � <br />