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C> 5. Any interest earned during the term of escrow, less administrative expenses, shall be disbursed to Developer at close of escrow unless necessary for County to utilize in cure of developer's default. 6. The funds deposited hereunder exist solely for the protection, use and benefit of the County and shall not be construed or intended in any way, expressly or impliedly, to benefit or secure payment to 0 any contractor, subcontractor, laborer, materialman, architect, engineer, attorney or other party providing labor, material, supplies, or services to Developer while such funds remain subject to this escrow agreement. The County shall not be liable to any of the aforementioned parties for claims against the Developer relating to the approved mining site. 7. Alternate security, in the form of performance bondo or letters of credit, may be substituted with the approval of the County Attorney. 8. This Agreement is the full and complete understanding of the parties and shall not be construed or amplified by reference to any prior agreement, discussion, or understanding, except as specifically mentioned herein. This Agreement shall not be assigned without the express written approval of the County. Any amendment, deletion, modification, extension, or revision hereof or hereto shall be in writing, and executed by authorized representatives of each party. IN WITNESS WHEREOF, the _parties hereto have set their hands and seals. The effective date of this Agreement shall be the date of approval by the Board of County Commissioners. Signed in the presence of: ATLANTIC COAST ENTERPRISES, INC., a Florida corporation printed names e,f3 .1a Swld By: 1 printed name: � c _ P ,Cpicii a Y cf 1?ro1va,1 title:�� k-iAted name:.ciA, pUc-� (tet be president or Vice President) Date s /a /S A d -� OFFICE OF MANAGEMENT AND BUDGET Date: By: J ap A. Baird, Direct r Date: IZ-0 1ttk0V41,% 9- APPROVED AS TO FORM AND LEGAL SUFFICIENCY RY WILLIAM G. COLLINS II DEPUTY COUNTY ATTORNEY 2 BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA By: KF _NNETH R. MACHr , Chairman ATTEST: By: Jeffrey K. Barton, Clerk-) n (SEAL)