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2000-338
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2000-338
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Last modified
8/16/2024 10:21:23 AM
Creation date
8/16/2024 10:21:12 AM
Metadata
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
11/14/2000
Control Number
2000-338
Agenda Item Number
7.E.
Entity Name
Raymo, Inc.
Subject
Cash Deposit and Escrow Agreement for River Lake Estates Subdivision
Support of Bill of Sale of Utility Facility
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• <br />• <br />River lake Estates Subdivision <br />utility maintenance for use <br />with Bill of Sale <br />CASH DEPOSIT AND ESCROW AGREEMENT <br />THIS AGREEMENT is entered into this -Lit day of �f7 t xn. -, 2000, <br />by and between RAYMO, INC., a Florida corporation (Developer), and INDIAN <br />RIVER COUNTY, a political subdivision of the State of Florida (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 Four Thousand Five Hundred Seventy - <br />Eight and 591100 Dollars ($4,578.99), the receipt whereof is hereby <br />acknowledged, which sum shall be held in escrow by said Office, subject to the <br />terms, conditions and covenants of this escrow agreement as assurance that <br />Developer shall perform in all respects the obligations set forth in the <br />aforementioned Bilt of Sale, which is incorporated 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 Developers 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 />
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