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PHASE 1 CASH DEPOSIT AND ESCROW AGREEMENT FOR COMPLIANCE RE: Ditch 5 Sand Mine SP -MA -95-02-12 (94060171) THIS AGREEMENT is entered into this 22ndday of April , 2025, by and between BABCOCK COQUINA MINE, LLC, a Florida limited liability company (Developer), and INDIAN RIVER COUNTY, a political subdivision of the State of Florida (County): WITNESSETH: WHEREAS, Developer is mining certain property within Indian River County and is required to post bonds insuring compliance with the requirements of the approved mining site plan; Indian River County Code Section 934.07; and restoration of the site. NOW, THEREFORE, in consideration of the agreements, promises, and covenants set forth herein, and other good and valuable considerations, the parties hereto agree as follows: 1. The Developer has tendered to the County Office of Management and Budget (Escrow Agent) the sum of Twenty Five Thousand Three Hundred Dollars ($25,300.00), the receipt whereof is hereby acknowledged, which sum shall be held in escrow by said Office, subject to the terms, conditions and covenants of this escrow agreement as assurance that Developer shall perform in all respects the obligations of Indian River County Code Chapter 934 with respect to site plan compliance. 2. Upon completion of the restoration of each mine phase, the Developer may obtain a disbursement from the escrow account by making a written request to Indian River County's Community Development Director. The request shall specify the amount of disbursement, and shall be accompanied by a sealed certificate from Developer's engineer that the mine is in compliance and has been restored in accordance with the most recent set of plans approved and on file with the County. 3. Within seven (7) working days after receipt of a disbursement request, the Community Development Director shall cause an inspection of the work for which payment is sought. If the Community Development Director is satisfied in all respects with the condition of the site and certifications, the Community Development Director shall deliver written notice to disburse to the County Office of Management and Budget. Upon receipt of the notice to disburse, the Office of Management and Budget shall make the disbursement described therein directly to Developer, at the address specified in the request for disbursement.