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RESOLUTION 85- 12 0 <br />RESOLUTION OF THE BOARD OF COUNTY COMr1ISSIONERS OF INDIAN RIiTF.ft COCQITY, <br />FLORIDA AUTHORIZING THE RELEASE OF THE REMAINING FUNDS HELD UNDER THE TERMS <br />OF AN ESCROW AGREEUM BETWEEN BEINDORF AND ASSOCIATES, INC., THE FIRST <br />BANKERS OF INDIAN RIVER COUNTY, AND INDIAN RIVER COUNTY TO QJARAPTM THE <br />CONSTRUCTION OF REQUIRED IMPROVEMM IN OLD SUGAR MILL ESTATES UNIT T[UM <br />SUBDIVISION. <br />WHEREAS, Indian River County (County), Beindorf and Associates, Inc. <br />(Developer), and THE FIRST BANKERS of Indian River County (Bank) have <br />entered into a cash deposit and escrow agreement; and <br />WHEREAS, under the terms of said agreement, the Developer has made a <br />written request for disbursement of funds held to guarantee required <br />improvements, and has sukmitted a warranty maintenance agreement and <br />maintenance bond guaranteeing performance of publically dedicated improve- <br />ments; and <br />WHEREAS, the Public Works Director is satisfied that all required <br />improvements have been cmpleted, and recommends disbursement of the <br />remaining funds held in escrow by the Bank. <br />Now, therefore, be it resolved by the Board of County Commissioners of <br />Indian River County, Florida that: <br />Remaining funds from the escrow account in the amount <br />of $25,000 be disbursed by Bank to Developer or to any <br />third party or parties upon whir"I Bank and Developer <br />may agree. <br />The foregoing resolution was offered by Ccnmi.ssioner Scurlock <br />who moved its adoption. The motion was seconded by Commissioner Wodtke <br />and upon being put to a vote, the vote was as follows: <br />Chairman Patrick B. Lyons Aye <br />Vice -Chairman Don C. Scurlock Jr. Aye <br />Commissioner Richard N. Bird Aye <br />Catmissioner Margaret C. Bowman Aye <br />Commissioner William C. Wodtke, Jr. Aye <br />The Chairman thereupon declared the resolution duly passed and adopted <br />this 2nd day of October , 1985. <br />BOARD OF COUNTY CXkM1ISSIONERS <br />OF IND COUNTY, FLORIDA <br />IYA&BY: _ <br />PYMCK B. LYONS <br />RMAN <br />Attest e9u WrL -e�)"tx <br />FREnA WRIGHT, Q <br />STATE OF FLORIDA e i <br />COUNTY OF INDIAN RIVER <br />