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05Y0 I /1 a-. CASH DEPOSIT AND ESCROW AGf EE TENT ( SM &l1 -10 -14 12001080027 -67135) CERTIFICATION ON LASLI PAGE da 3 . I< , BARTON , CLERK o2D12 '08 S THIS AGREEMENT is entered into this 2nd y of May 2012 , by and between Indian River County Recyclers , LLC , a Florida limited liability company ( Developer) , and Indian River County , a political subdivision of the State of Florida ( County) : WITNESSETH : WHEREAS , Developer made application to County for a special exception use for a demolition debris facility , and on December 20 , 2011 the Board of County Commissioners approved the special exception use application with certain conditions ; and WHEREAS , one of the conditions prior to site plan release is the posting by Developer of financial security to guaranty that at the termination of operations of the demolition debris facility , all construction and demolition debris materials " C, & D Materials " ) stockpiled on site are properly removed and disposed of; NOW , THEREFORE , in consideration of the agreements , promises , and covenants set forth herein , and other good and valuable considerations , the parties hereto agree as follows : 1 . As an inducement for County to release the site plan , Developer has heretofore tendered Twelve Thousand Five Hundred and No/ 100 Dollars ( $ 12 , 500 . 00 ) to the County Office of Management and Budget , the receipt whereof is hereby acknowledged , which sum shall be held in escrow subject to the terms , conditions and covenants of this escrow agreement as assurance that Developer shall perform in all respects the obligations set forth herein . 2 . Within ninety ( 90) days after termination of its operations Developer shall restore the property by properly removing and disposing of all C & D Materials stockpiled on site . 3 . Upon completion of its obligations set forth in paragraph 2 , Developer may make a written request to County through County' s Utilities Director for disbursement from the escrow account . Within seven (7 ) working days after receipt of a disbursement request , if after an inspection it is determined that all stockpiled C & D Materials were properly disposed of , the Utilities Director shall notify in writing the Countyshallce of make the disbursement ament s app approved by thBudget . The e ffice of Management and Budget Utilities Director directly to Developer . 4 . If an inspection reveals that Developer did not properly remove and dispose of all stockpiled C & D Materials , the County may elect to pursue all remedies at law or in equity . Without limitation , all funds remaining in the escrow account ( including interest) shall be available for use by the County for the proper removal and disposal of all stockpiled C & D Materials . Said funds shall be disbursed to the County upon receipt by the Office of Management and Budget of a certified copy of a reedol ution of nder this the CashBoard D post and Escrowcommissioners Agreementstating d that Developer has default