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earmarked/obligated for Phase 3, subject to the terms, conditions and covenants <br /> of this escrow agreement as assurance that Developer shall perform in all <br /> respects the obligations of Indian River County Code Chapter 934 with respect to <br /> site plan compliance and site restoration. <br /> 2. Upon completion of the restoration of each mine phase, the <br /> Developer may obtain a disbursement from the escrow account by making a <br /> written request to Indian River County's Community Development Director. The <br /> request shall specify the amount of disbursement, and shall be accompanied by <br /> a sealed certificate from Developer's engineer that the mine is in compliance and <br /> has been restored in accordance with the most recent set of plans approved and <br /> 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 Development or its legal representatives, heirs, <br /> successors or assigns, absent bankruptcy, court order, or an assignment. <br /> 4. Upon failure to comply with all the requirements of the site plan <br /> approval, including but not limited to unapproved off-site discharge of water, <br /> failure to confine hauling to approved hauling routes, operating in violation of the <br /> safety/security plan, excavating within required setbacks, mining of additional <br /> phases prior to restoration of the previous phase, and activity not consistent with <br /> permits issued by other jurisdictional agencies; or if Developer fails to perform all <br /> or any part of the obligations of restoration and reclamation, including, but not <br /> limited to mine abandonment prior to restoration, restoration not completed <br /> within the approved time frame, restoration not consistent with the restoration <br /> plan and Chapter 934 of the Indian River County Code, and restoration activity <br /> not consistent with permits issued by other jurisdictional agencies, the County <br /> may utilize escrowed funds to achieve compliance and/or restoration. All funds <br /> remaining in the escrow account at the time default is declared by the County <br /> shall be available for use by the County. Said funds shall be disbursed to the <br /> 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 /> failed to comply with Indian River County Code Chapter 934 site plan or <br /> restoration conditions of the mining approval, and that said funds are necessary <br /> to achieve compliance and/or restoration. All funds disbursed to County in <br /> excess of the final amount determined necessary by the County shall be <br /> returned to Developer, its legal representatives, heirs, successors or assigns, <br /> absent bankruptcy, court order, or an assignment, at the completion of site <br /> restoration. <br /> 2 <br />