02/19/2013AP - Laserfiche WebLink

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3. Within seven (7) working days after receipt of a disbursement request, the Public Works Director shall cause an inspection of the roadway :*,, segment. If the Public Works Director is satisfied in all respects with the condition of the roadway segment, the Public Works 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 Vero 53, at the address specified in the request for disbursement. 4. Upon failure to comply with River County Code Section 934.08, the County may utilize escrowed funds. 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 Section 934.08, and that said funds are deemed necessary as either a penalty for noncompliance or to cure damage. All funds disbursed to County in excess of the final amount determined necessary by the County shall be returned to Vero 53, its legal representatives, successors or assigns. 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 Vero 53 at close of escrow unless necessary for County to utilize in cure of 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 or Vero 53 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 or Vero 53 relating to the approved site or hauling. 7. This Agreement is the full and complete understanding of the parties and shall not be construed or amplified by reference to any prior agreement, discussion, or understanding, except as specifically mentioned herein. This Agreement shall not be assigned without the express written approval of the County. Any amendment, deletion, modification, extension, or revision hereof or hereto shall be in writing, and executed by authorized representatives of each party. 2 175