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2000-031
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2000-031
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Last modified
3/15/2024 2:02:20 PM
Creation date
2/12/2024 11:18:53 AM
Metadata
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
02/01/2000
Control Number
2000-031
Agenda Item Number
7.M.
Entity Name
Sea Oaks River Cottages
Subject
Cash Deposit & Escrow Agreement
Contract for Construction of Required Improvements
Final PD Plat Approval
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C-> <br />• <br />Mb <br />indicated by specific written approval of the Public Works Director or his designated <br />representative, after receipt of a signed and sealed Certificate of Completion from the <br />project engineer of record. <br />6. In the event the Developer shall fail or neglect to fulfill its obligations under <br />this contract and as required by the Indian River County Code, the Developer, as <br />principal, and the funds in escrow deposit shall be liable to pay for the cast of <br />construction and installment of the required improvements to the final total cost, <br />including but not limited to engineering, construction, legal and contingent costs, <br />including reasonable attorney's fees incurred by the County, together with any <br />damages, either direct or consequential, which the County may sustain as a result of <br />the failure of Developer to carry out and execute all provisions of this contract and <br />applicable ordinances of the County. <br />7. The parties agree that the County at its option shall have the right, but not the <br />obligation, to construct and install or, pursuant to receipt of competitive bids, cause to <br />be constructed and installed the required improvements in the event Developer shall fail <br />or refuse to do so in accordance with the terms of this contract. Developer expressly <br />agrees that the County may demand and draw upon the cash deposit for the final total <br />cost of the improvements. Developer shall remain wholly liable for any resulting <br />deficiency, should the cash deposit be exhausted prior to completion of the required <br />improvements. In no event shall the County be obligated to expend public funds, or <br />any fund other than those provided by the Developer to construct the required <br />improvements. <br />8. Any cash deposit provided to the County by Developer with respect to this <br />contract shall exist solely for the use and benefit of the County and shall not be <br />construed or intended in any way, expressly or impliedly, to benefit or secure payment <br />to any subcontractor, laborer, materialman or other party providing labor, material, <br />supplies, or services for construction of the required improvements, or to benefit any lot <br />purchaser(s), unless the County shall agree otherwise in writing. <br />9. This agreement is the full and complete understanding of the parties and <br />shall not be cnnsfrued or amplified by referranre to any other agreement, discussiull, car <br />understanding, whether written or oral, except as specifically mentioned herein. This <br />agreement shall not be assigned without the express written approval of the County. <br />Any amendment, deletion, modification, extension, or revision hereof or hereto shall be <br />in writing, executed by authorized representatives of both parties. <br />IN WITNESS WHEREOF, the parties hereto have set their hands and seals osa the <br />day and year first above written. <br />
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