Laserfiche WebLink
srtTO <br /> e plan: Imagine School <br /> CASH DEPOSIT AND ESCROW AGREEMENT <br /> I <br /> THIS AGREEMENT is entered into this � day of v ref , 2009, <br /> by and between BOUMA CONSTRUCTION, INC., a Michigan profit co poration <br /> (Developer's Contractor), and INDIAN RIVER COUNTY, a political subdivision of the <br /> State of Florida (COUNTY): <br /> WITNESSETH : <br /> WHEREAS, as a condition of site plan approval, Schoolhouse Finance, LLC, <br /> the Developer, is required to construct certain off-site improvements within the <br /> County right-of-way, and is required to provide surety supporting a contract with the <br /> County for the construction of certain required improvements related thereto; <br /> NOW, THEREFORE, in consideration of the agreements, promises, and <br /> covenants set forth herein, and other good and valuable considerations, the parties <br /> hereto agree as follows: <br /> 1. The Developer's Contractor has tendered to the County Office of <br /> Management and Budget (Escrow Agent) the sum of. Fourteen Thousand Nine <br /> Hundred Thirteen and 201100 Dollars (.$14,913.20), the receipt whereof is hereby <br /> acknowledged, which sum shall be held in escrow by said Office, subject to the <br /> terms, conditions and covenants of this escrow agreement as assurance that <br /> Developer shall perform in all respects the obligations set forth in the <br /> aforementioned Contract for Construction of Required Roadway Improvements, <br /> which agreement is attached hereto and incorporated herein by reference <br /> (Contract). <br /> 2. Upon completion, the Developer's Contractor may obtain a <br /> disbursement from the escrow account by making a written request to the Board of <br /> County Commissioners of Indian River County through the County's Public Works <br /> Director. The request shall specify the amount of disbursement desired and shall be <br /> accompanied by a sealed certificate from Developer's engineer describing the work <br /> completed, the actual cost thereof, and that the work for which disbursement is <br /> requested has been completed in accordance with County policies for construction <br /> as those policies relate to location, method, and type of construction. <br /> 3. Disbursement shall occur only after issuance of a Certificate of <br /> Occupancy in accordance with the Indian River County Code. <br /> 4. Within seven (7) working days after receipt of a disbursement request, <br /> the Public Works Director shall cause an inspection of the work for which payment is <br /> sought. If the Public Works Director is satisfied in all respects with the work, the <br /> a <br />