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ESC1"q AGI, <br />THIS AGRMMiI, made and entered into this �- <br />day of <br />Developer of Subdivision, <br />and the BOARD OFA' YIY7UT1-QSS i -JI Ob VER COU41Y, FLORIDA. <br />® Wr=SEIII: <br />IF, V)Ar;A. the Developer hereby deposits in escrow with the BOARD OF O0U[1TY <br />MMIISSIOU of Indian River County, Florida. <br />DOIM.RS, <br />to guarantee thata irrmrovcrrrrrts set <br />for on p ams and sped ications for the above subdivision will <br />be fully corpleted and paid for. <br />2. That B0,00 agrees to hold said funds and to pay the same out <br />in the folloring nanner: <br />(a) To the Developer upon request and upon proof satisfactory <br />to the Board that work has progressed satisfactorily to the state - <br />of developr ent for Niiich the payrrnt is made, said proof to <br />include a certificate to that effect signed by the Developer <br />and the County Administrator, and upon proof satisfactor to the <br />Board that all bills therefore have ocen paid to date, ixrcluc:ing, <br />but not limiting thereto bills for surveying, engineering and <br />land clearing, and umr1c and material used in the construction <br />of roads w.uch are included in the plan of developrmnt. <br />(b) Upon a dete=,iation that any portion or all of the said <br />improvements have not been performed by the Developer eaithin <br />calendar days from the date of this agreement, <br />e Board is mere y authorized, but not obligated to take over <br />and perform any such uncocmleted work and to use for such pur- <br />poses the finds so deposited in escrow. <br />(c) Further, the Board is authorized to pay any bills for said <br />improvenrnts upon proof satisfactory to the Board that such claims <br />are dust and mpaid and the Developer hereby consents to any <br />such payrmnts and authorizes and ratifies any, such action on <br />the part of the Board and agrees to protect and save harmless <br />said Board from any claims of any persons x.1nomsoever on account <br />of any improvLmmts rahich may not have been carpleted or paid for. <br />(d) Ten per cent (10%) of the entire escraa deposit shall be <br />held by the Board pending final cmrpletion of irrnroverrrnts and <br />certification by the Developer's engineer and the County M-.inis- <br />trator that the improvenrnts have been completed satisfactorily <br />End that all work and materials have been paid in full: -- = -- - <br />Page one of -Wo pages. <br />-24- <br />