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EXHIBIT "A" <br />CASH DEPOSIT AND ESCROW AGREEMENT <br />THIS AGREEMENT is entered into this /0 day of <br />1 2006, by and between DIVOSTA BUILDING CORPORATION, a <br />Florida corporation (Contractor), and INDIAN RIVER COUNTY, a political <br />subdivision of the State of Florida (County): <br />WITNESSETH; <br />WHEREAS, Contractor, a building contractor owned by its parent <br />company, DiVosta Homes, L.P., is engaged in the construction of single-family <br />residences on lots located in Waterway Village which DiVosta Homes, L.P. is <br />developing; and <br />WHEREAS, Contractor and County have entered into a Slab Removal <br />Agreement whereby County has agreed to permit Contractor to pour house slabs <br />within Waterway Village prior to the delivery of form board tie-in surveys, subject to, <br />among other conditions cited in the agreement, the posting of cash escrow in the <br />amount to $100,000.00; <br />NOW, THEREFORE, in consideration of the agreements, promises, <br />and covenants set forth herein, and other good and valuable considerations, the <br />parties hereto agree as follows: <br />1. Contractor has tendered to the County Office of Management and <br />Budget (Escrow Agent) the sum of One Hundred Thousand and No/100 Dollars <br />($100,000.00), the receipt whereof is hereby acknowledged, which sum shall be held <br />in escrow by said Office, subject to the terms, conditions and covenants of this <br />escrow agreement as assurance that Contractor shall perform in all respects the <br />obligations set forth in the aforementioned Slab Removal Agreement, which <br />agreement is attached hereto and incorporated herein by reference. <br />2. Upon completion of all slab pours in the Waterway Village DRI, the <br />Contractor may obtain disbursement from the escrow account by making a written <br />request to the County's Building Official. The County's Building Official is James <br />"Buddy" Akins, C.B.O. whose address is stated in the Slab Removal Agreement. <br />3. Within seven (7) working days after receipt of a disbursement <br />request, the Building Official shall cause an inspection of the work. If the Building <br />Official is satisfied in all respects with the work, the Building Official shall notify in <br />writing the County Office of Management and Budget. The Office of Management <br />UAWATERWAY VILLAGE\cash deposit guarantying slab removal.doc <br />