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EXHIBIT B THREE PARTY ESCROW AGREEMENT THIS AGREEMENT is made and entered into by and between the State of Florida, Department of Transportation ("FDOT"), INDIAN RIVER COUNTY ("Participant"), and the State of Florida, Department of Financial Services, Division of Treasury ("Escrow Agent"), and shall become effective upon the Agreement's execution by Escrow Agent. \\. \ • WHEREAS, FDOT and Participant are engaged in the following project ("P3t�): t" nd Relocation Project Name: Right of Way Appraisal, Consultant, Acquisitj Services S � Project #: 431759 -1 -4B/42/43/45 -014"Y) County: Indian River County „y scrow account for the project. WHEREAS, FDOT and Participant desire to establi NOW THEREFORE, in consideration of the ses and the covenants contained herein, the parties agree to the following: • 1. An initial deposit will be m deco an interest bearing escrow account established hereunder for the purp the Project. The escrow account will be opened with the EscrowA cepbehalf of FDOT upon Escrow Agent's receipt and execution of thisement. 2. Other de p to the escrow account may be made during the life of this agree 3. is will be delivered in accordance with instructions provided by the Escrow ent to the FDOT for deposit into the escrow account. A wire transfer or ACH \deposit is the preferred method of payment and should be used whenever possible. FDOT's Comptroller or designee shall be the sole signatory on the escrow account with the Escrow Agent and shall have sole authority to authorize withdrawals from the account. Withdrawals will only be made to FDOT or the Participant in accordance with the instructions provided to the Escrow Agent by FDOT' s Comptroller or designee. 5. Moneys in the escrow account will be invested in accordance with section 17.61, Florida Statutes. The Escrow Agent will invest the moneys expeditiously. Income is only earned on the moneys while invested. There is no guaranteed rate of Page 15