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TU pNM pi^M ( q O r1 I ` <br /> 4 tl <br /> Py <br /> 13 . A <br /> aa� 2 <br /> Pointe West South Village, Phase I P . D . <br /> CASH DEPOSIT AND ESCROW AGREEMENT <br /> THIS AGREEMENT is entered into this 1 8thday of November , 2008 , by <br /> and between Pointe West of Vero Beach , Ltd . , a Florida limited partnership <br /> ( Developer ) , and INDIAN RIVER COUNTY , a political subdivision of the State of <br /> Florida ( COUNTY ) : <br /> WITNESSETH : <br /> WHEREAS , Developer is effecting development of land within Indian River <br /> County and is required to provide surety supporting a modification to a contract <br /> with the County for the construction of certain required sidewalk improvements <br /> related thereto ; <br /> NOW , THEREFORE , in consideration of the agreements , promises , and <br /> covenants set forth herein , and other good and valuable considerations , the <br /> parties hereto agree as follows : <br /> 1 . The Developer has tendered to the County Office of Management <br /> and Budget ( Escrow Agent ) the sum of Twenty - Five Thousand Five Hundred <br /> Seventy - Six and 50/ 100 Dollars ( $ 25 , 576 . 50 ) , the receipt whereof is hereby <br /> acknowledged , which sum shall be held in escrow by said Office , subject to the <br /> terms , conditions and covenants of this escrow agreement as assurance that <br /> Developer shall perform in all respects the obligations set forth in the <br /> aforementioned Contract for Construction of Required Sidewalk Improvements , <br /> as modified , which agreement and modification ( s ) are attached hereto and <br /> incorporated herein by reference ( Contract ) . <br /> 2 . Upon completion , the Developer may obtain a disbursement from <br /> the escrow account by making a written request to the Board of County <br /> Commissioners of Indian River County through the County ' s Public Works <br /> Director . The request shall specify the amount of disbursement desired and shall <br /> be accompanied by a sealed certificate from Developer' s engineer describing the <br /> work completed , the actual cost thereof , and that the work for which <br /> disbursement is requested has been completed in accordance with County <br /> policies for sidewalk construction as those policies relate to location , method , and <br /> type of construction . <br /> 3 . Within seven ( 7 ) working days after receipt of a disbursement <br /> request , the Public Works Director shall cause an inspection of the work for <br /> which payment is sought . If the Public Works Director is satisfied in all respects <br /> 1 <br />