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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("11<11. 7): Project Name: Right of Way Appraisal, Consultant, Acquisif nd Relocation Services Project#: 431759-1-4B/42/43/45-01 County: Indian River County '� WHEREAS,FDOT and Participant desire to establisi scrow account for the project. 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 deto an interest bearing escrow account established hereunder for the purpthe Project. The escrow account will be opened ot " with the Escrow A behalf of FDOT upon Escrow crow Agent s receipt and execution of this ement. 2. Other de Ifo the escrow account maybemade during uring the life of this agree 3. 0 - . Is will be delivered in accordance with instructions provided by the Escrow '\ �: nt 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 wheneverP ossible. #, 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 15 109