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EXHIBIT B THREE PARTY ESCROW AGREEMENT A TF: COPY ON LAST PAGE J.R. SMITH, CLERK THIS AGREEMENT is made and entered into by and between the State of Florida, Department of Transportation ("FDOT"), Indian River County ("Participant"), and the State of Florida, Department of Financial Services, Division of Treasury ("Escrow Agent"), and shall become effective upon the Agreement's execution by Escrow Agent.• • WHEREAS, FDOT and Participant are engaged in the following project ("Project"):,‘0 Project Name: Right of Way Demoltion, Acquisition, Relocation Assist ngS"ervices, and eC) WHEREAS, FDOT and Participant desire to establish an escrovount for the project. O Consulting Fees Project #: 431759-1-4B/42/43/45-02 County: Indian River County NOW THEREFORE, in consideration of the premises ar}d f' covenants contained herein, the parties agree to the following: 1. An initial deposit will be made into an r Brest bearing escrow account established hereunder for the purposes of the Project. The escrow account will be opened with the Escrow Agent on behalf of FDupon Escrow Agent's receipt and execution of this Agreement. 2. Other deposits to the esc ccount may be made during the life of this agreement. 3. Deposits will be d sed in accordance with instructions provided by the Escrow Agent to • / the FDOT for : t into the escrow account. A wire transfer or ACH deposit is the preferred mg . • •f payment and should be used whenever possible. 4. FDO 'sriptroller or designee shall be the sole signatory on the escrow account with the Es C1 Agent and shall have sole authority to authorize withdrawals from the account. awals will only be made to FDOT or the Participant in accordance with the ructions provided to the Escrow Agent by FDOT's Comptroller or designee. Moneys in the escrow account will be invested in accordance with section 17.61, Florida Statutes. The Escrow Agent will invest the moneys expeditiously. Income is only earned on the moneys while invested. There is no guaranteed rate of return. Investments in the escrow account will be assessed a fee in accordance with Section 17.61(4)(b), Florida Statutes. All income of the investments shall accrue to the escrow account. 6. Unless instructed otherwise by FDOT, all interest accumulated in the escrow account shall remain in the account for the purposes of the Project. Page 8