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2000-261
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2000-261
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Last modified
7/16/2024 10:25:45 AM
Creation date
7/16/2024 10:25:40 AM
Metadata
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Template:
Official Documents
Official Document Type
Cash Deposit and Escrow Agreement
Approved Date
09/05/2000
Control Number
2000-261
Agenda Item Number
7.M.
Entity Name
GHA Harbor Island, Inc.
Subject
Cash Deposit and Escrow Agreement
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� QJ <br />Jr� <br />J. <br />Harbor Island — Grand Harbor Plat 23, utility maintenance for use <br />a Planned Residential Development with Dill of Sale <br />CASH DEPOSIT AND ESCROW AGREEMENT <br />THIS AGREEMENT is entered into this 5th day of .Sat.emnar , 2000, <br />by and between GHA Harbor Island, Inc., a Florida corporation (Developer), <br />and INDIAN RIVER COUNTY, a political subdivision of the State of Florida <br />(County): <br />WITNESSETH: <br />WHEREAS, Developer is effecting a subdivision of certain property within <br />Indian River County and is required to provide surety supporting a Bill of Sale of <br />Utility Facilities within an easement for the maintenance of certain required utility <br />improvements related thereto, namely: <br />See Exhibit "A" attached hereto. <br />NOW, THEREFORE, in consideration of the agreements, promises, and <br />covenants set forth herein, and other good and valuable considerations, the <br />parties hereto agree as follows: <br />1. The Developer has tendered to the County Office of Management <br />and Budget (Escrow Agent) the sum of i j— T, 1J,,, 4"J <br />i. �d , /, 0 c� Dollars ($ 1 � ay4 . <br />the rec6ibt whereof is hereby acknowledged, which sum shall be held in escrow <br />by said Office, subject to the terms, conditions and covenants of this escrow <br />agreement as assurance that Developer shall perform in all respects the <br />obligations set forth in the aforementioned Bill of Sale, which is incorporated <br />herein by reference. <br />2. Upon completion of the maintenance period specified in the Bill of <br />Sale, the Developer may obtain a disbursement from the escrow account by <br />making a written request to Indian River County through the County's Utilities <br />Director. The request shall specify the amount of disbursement, and shall be <br />accompanied by a sealed certificate from Developer's engineer that the work for <br />which disbursement is requested remains in satisfactory condition in accordance <br />with the most recent set of plans and specifications approved and on file with the <br />County. <br />3. Within seven (7) working days after receipt of a disbursement <br />request, the Utilities Director shall cause an inspection of the work for which <br />payment is sought. If the Utilities Director is satisfied in all respects with the <br />work and certifications, the Utilities Director shall approve the disbursement. <br />Approval of any disbursement shall be in writing delivered to the County Office of <br />Management and Budget. Upon receipt of the written approval of the <br />disbursement, the Office of Management and Budget shall make the <br />1 <br />
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