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accompanying cost estimates and certifications, the Public Works Director shall <br /> deliver a written notice to disburse to the County Office of Management and Budget. <br /> Upon receipt of the notice to disburse, the Office of Management and Budget shall <br /> make the disbursement described therein directly to Developer's Contractor. <br /> 5. Upon default by Developer under the Contract, the County may elect <br /> to pursue any of the remedies made available therein. All funds remaining in the <br /> escrow account at the time default is declared by the County shall be available for <br /> use by the County in accordance with the Contract Said funds shall be disbursed to <br /> the County upon receipt by the Office of Management and Budget of a certified copy <br /> of a resolution of the Board of County Commissioners stating that Developer has <br /> defaulted under the Contract and that said funds are necessary to complete the <br /> required improvements. All funds disbursed to County in excess of the final amount <br /> determined necessary by the County to complete the required improvements shall <br /> be returned to Developer's Contractor, its legal representatives, successors or <br /> assigns. <br /> & The funds deposited hereunder exist solely for the protection, use and <br /> benefit of the County and shall not be construed or intended in any way, expressly or <br /> impliedly, to benefit or secure payment to any contractor, subcontractor, laborer, <br /> materialman, architect, engineer, attorney or other party providing ,labor, material, <br /> supplies, or services for construction of the required roadway improvements, while <br /> such funds remain subject to this escrow agreement, unless and until the County <br /> shall agree otherwise in writing. The County shall not be liable to any of the <br /> aforementioned parties for claims against the Developer or Developer's Contractor <br /> relating to the required improvements, <br /> 7. This Agreement, together with the attached Contract, is the full and <br /> complete understanding of the parties and shall not be construed or amplified by <br /> reference to any prior agreement, discussion, or understanding, except as <br /> specifically mentioned herein. This Agreement shall not be assigned without the <br /> express written approval of the County. Any amendment, deletion, modification, <br /> extension, or revision hereon or hereto shall be in writing, and executed by <br /> authorized representatives of each party. <br /> IN WITNESS WHEREOF, the parties hereto have set their hands and seals <br /> The date of this agreement shall be the date of approval by the Board of County <br /> Commissioners, as first stated above. <br /> BOUMA CONSTRUCTION, INC., <br /> a Michigan profit corporation, <br /> bevel er's Contractor <br /> B <br /> 0 d Ugla C <br /> u las B uma, CEO <br />