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t ,= 1; 'Ilri '�, IiU ' hrL , 4 tIA71 3 . Within seven (7 ) working days after receipt of a disbursement request , the Community Development Director shall cause an inspection of the work for which payment is sought , If the Community Development Director is satisfied in all respects with the condition of the site and certifications , the Community Development Director shall deliver written notice to disburse to the County Office of Management and Budget . Upon receipt of the notice to disburse , the Office of Management and Budget shall make the disbursement described therein directly to Developer, at the address specified in the request for disbursement . 4 . Upon failure to comply with all the requirements of the site plan approval , including Indian River County Code Section 934 . 04 (7) ( b ) , the County may utilize escrowed funds to achieve compliance . All funds remaining in the escrow account at the time default is declared by the County shall be available for use by the County . Said funds shall be disbursed to the County upon receipt by the Office of Management and Budget of a certified copy of a resolution of the Board of County Commissioners stating that Developer has failed to comply with Indian River County Code Chapter 934 site plan compliance conditions , and that said funds are necessary to achieve compliance . All funds disbursed to County in excess of the final amount determined necessary by the County shall be returned to Developer, its legal representatives , successors or assigns , at the time of site completion . 5 . If escrowed funds are held in excess of 60 days ;,; any interest earned during the term of escrow , less administrative expenses , shall be disbursed to Developer at close of escrow unless necessary for County to utilize in cure of developer' s default. 6 . The funds deposited hereunder exist solely for the protection , use and benefit of the County and shall not be construed or intended in any way , expressly or impliedly , to benefit or secure payment to any contractor , subcontractor, laborer, materialman , architect , engineer, attorney or other party providing labor, material , supplies , or services to Developer while such funds remain subject to this escrow agreement. The County shall not be liable to any of the aforementioned parties for claims against the Developer relating to the approved site . 7 . Alternate security , in the form of performance bonds or letters of credit , may be substituted with the approval of the County Attorney. 8 . This Agreement is the full and complete understanding of the agreement , discussion , or understanding , except as specifically mentioned 2 SP-MA-10.05-07 (AA-11 -11401 )