Laserfiche WebLink
third phase, subject to the terms, conditions and covenants of this escrow <br />agreement as assurance that Developer shall perform in all respects the <br />obligations of Indian River County Code Chapter 934 with respect to site <br />restoration. <br />2. Upon completion of the restoration of each mine phase, the <br />Developer or Funder may obtain a disbursement from the escrow account by <br />making a written request to Indian River County's Community Development <br />Director. The request shall specify the amount of disbursement, and shall be <br />accompanied by a sealed certificate from Developer's engineer that the mine is <br />in compliance and has been restored in accordance with the most recent set of <br />plans approved and on file with the County. <br />3. Within seven (7) working days after receipt of a disbursement <br />request, the Community Development Director shall cause an inspection of the <br />work for which payment is sought. If the Community Development Director is <br />satisfied in all respects with the condition of the site and certifications, the <br />Community Development Director shall deliver written notice to disburse to the <br />County Office of Management and Budget. Upon receipt of the notice to <br />disburse, the Office of Management and Budget shall make the disbursement <br />described therein directly to Funder .(the party that posted the funds), or its legal <br />representatives, heirs, successors or assigns, absent bankruptcy, court order, or <br />an assignment. <br />4. Upon failure to perform all or any part of the obligations of <br />restoration and reclamation, including, but not limited to mine abandonment prior <br />to restoration, restoration not completed within the approved time frame, <br />restoration not consistent with the restoration plan and Chapter 934 of the Indian <br />River County Code, and restoration activity not consistent with permits issued by <br />other jurisdictional agencies, the County may utilize escrowed funds to achieve <br />restoration. All funds remaining in the escrow account at the time default is <br />declared by the County shall be available for use by the County°. Said funds <br />shall .be disbursed to the County upon receipt by the Office of Management and <br />Budget of a certified copy of a resolution of the Board of County Commissioners . <br />stating that Developer has failed to comply with Indian River County. Code <br />Chapter 934 restoration conditions of the mining approval, and that said funds <br />are necessary to achieve restoration. All funds disbursed to County in excess of <br />the final amount determined necessary by the County shall be returned to <br />Funder, its legal representatives, heirs, successors or assigns, absent <br />bankruptcy, court order, or an assignment, at the completion of site restoration. <br />5. Any interest earned during the term of escrow, less <br />administrative expenses, shall be disbursed at close of escrow unless necessary <br />for County to utilize in cure of developer's default. <br />6. The funds deposited hereunder exist solely for the protection, <br />use and benefit of the County and shall not be construed or intended in any way, <br />expressly or impliedly, to benefit or secure payment to any contractor, <br />2 <br />21 <br />