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3 . Within seven (7 ) working days after receipt of a disbursement <br /> request, the Utilities Director shall cause an inspection of the work for which <br /> payment is sought . If the Utilities Director is satisfied in all respects with the work <br /> and certifications , the Utilities Director shall approve the disbursement . Approval <br /> of any disbursement shall be in writing delivered to the County Office of <br /> Management and Budget . Upon receipt of the written approval of the <br /> disbursement , the Office of Management and Budget shall make the <br /> disbursement described therein directly to Developer, at the address specified in <br /> the request for disbursement . <br /> 4 . Upon defect in the improvements warranteed under the Bill of Sale , <br /> the county may utilize all funds remaining in the escrow account at the time <br /> default is declared by the County. Said funds shall be disbursed to the County <br /> upon receipt by the Office of Management and Budget of a written statement <br /> from the Utilities Director that Developer has defaulted under the Bill of Sale and <br /> that said funds are necessary to repair the improvements . All funds disbursed to <br /> County in excess of the final amount determined necessary by the County to <br /> repair the improvements shall be returned to Developer, its legal representatives , <br /> successors or assigns , at the end of the guaranty period . <br /> 5 . Any interest earned during the term of escrow shall be disbursed to <br /> Developer at close of escrow less administrative expenses . <br /> 6 . 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 way, <br /> expressly or impliedly , to benefit or secure payment to any contractor, <br /> subcontractor, laborer, materialman , architect , engineer, attorney or other party <br /> providing labor, material , supplies , or services for construction of the required <br /> improvements , or to benefit any lot purchaser, while such funds remain subject <br /> to this escrow agreement . The County shall not be liable to any of the <br /> aforementioned parties for claims against the Developer or contractor relating to <br /> the required improvements . <br /> 7 . This Agreement , together with the Bill of Sale referenced herein , is <br /> the full and complete understanding of the parties and shall not be construed or <br /> amplified by reference to any prior agreement , discussion , or understanding , <br /> except as specifically mentioned herein . This Agreement shall not be assigned <br /> without the express written approval of the County. Any amendment , deletion , <br /> modification , extension , or revision hereof or hereto shall be in writing , and <br /> executed by authorized representatives of each party. <br /> 2 <br /> F:\Attomey\Nancy\DOCS\PLAN\CASH DEPOSIT form for 25% maint site plan .doc <br />