4/19/1978 - Laserfiche WebLink

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M M r :w ,and although interest shall accrue to the benefit of THE i t J `IDLEWYLD CORPORATION, INC., no money shall be written out of ` t' ,the'escrow account without. the written approval of the County. Administrator.. - NOW, -THEREFORE, the condition of this obligation is .such, that if the Principal shall construct all streets,, rights of way, culverts, drainage facilities and all of the -.improvements as shown upon the tentative plat and as required by the Subdivision Regulations of Indian River County, Florida, in the manner required within one year -after the approval of the final plat and in -the event they are not so completed within ° that time, the County shall proceed with the work and hold the Y.iacipal responsible for the costs thereof or when the County' Administrator certifies to THE BEACH BANK of .VERO BEAgH that all of•the improvements have been constructed on the land the balance -of the deposit shall be returned by THE BEACH BANK to THE IDLEWYLD CORPORATION, INCr, then in that event this Bond and obligation created therein shall be null and void, otherwise to remain in full force and effect. SIGNED, SEALED AND DATED, this Zjb day of April 1978. THE.IDLEWYLD CORPORATION, INC. By - y (Corporate Seal) ' R E C E I P T The.undersigned hereby acknowledges receipt from THE IDLEWYLD CORPORATION, INC. of cash in the sum of to be held and'paid out in accordance with the terms of the foregoing Bond. The parties understand that THE BEACIi BANK ~ shall incur no liability for acting as Escrow Agent in this matter on behalf of Indian River County, Florida, and THE IDLE11YLD CORPORATION, INC. shall indemnify the Escrow Agent in the event litigation accrues over disposition of the escrow funds. . This 12th day of April , 1978. APR 1-9 19,7A THE 13EACII BANK l' BOOK '3 PQ 25