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OCT 2 1995 <br />RESOLUTION 85- 12 0 <br />BOOK' 612-:1PAGE31 <br />RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA AUTHORIZING THE RELEASE OF THE PMQU M FUNDS HELD UNDER THE TERMS <br />OF AN ESCROW AGLUZ�M1T BEDQEEN BEINDORF AND ASSOCIATES, INC., THE FIRST <br />BANKERS OF INDIAN RIVER COUNTY, AND INDIAN RIVER COUNTY TO GUARANTEE THE <br />CONSTRUCTION OF REQunw IMPROVEMENTS IN OLD SUGAR MILL ESTATES UNIT THREE <br />SUBDIVISION. \ <br />WHEREAS, Indian River County (County), Beindorf and Associates, Inc. <br />(Developer), and THE FIRST BADS of Indian River County (Bank) have <br />entered into a cash deposit and escrow agreement; and \ <br />WHEREAS, under the terms of said agreement, the Developer has made a <br />written request for disbursement of funds held to guarantee required <br />improvements, and has submitted a warranty maintenance agreement and, <br />maintenance bond guaranteeing performance of publically dedicated improve- <br />ments; and <br />WHEREAS, the Public Works Director is satisfied that all required <br />improvements have been completed, and recommends disbursement of the <br />remaining funds held in escrow by the Bank. <br />Now, therefore, be it resolved by the Board of County Commissioners of <br />Indian River County, Florida that: <br />Remaining funds fram the escrow account in the amount <br />of $25,000 be disbursed by Bank to Developer or to any <br />third party or parties upon which Bank and Developer <br />may agree- \ <br />The foregoing resolution was offered by Commissioner Scurlock <br />who moved its adoption. The motion was seconded by Commissioner Wodtke <br />and upon being put to a vote, the vote was as follows: <br />this <br />Chairman Patrick B. Lyons 'Aye <br />Vice -Chairman Don C. Scurlock Jr. Aye <br />Commissioner Richard N. Bird Aye <br />Commissioner Margaret C. Bowman Aye <br />Ccmmissioner William C. Wodtke, Jr. Aye <br />The Chairman thereupon declared the resolution duly passed and adopted <br />2nd day of October , 1985. <br />BOARD OF COUNTY COMMISSIONERS <br />OF INDIAP-Ir ER COUNTY, FLORIDA <br />BY: <br />22 <br />1 <br />