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PHASE <br /> CASH DEPOSIT AND ESCROW AGREEMENT <br /> FOR <br /> COMPLIANCE <br /> RE : WILD TURKEY SAND MINE <br /> SP - MA-07 - 10 -34 ( 2004120019 -59695 ) <br /> THIS AGREEMENT is entered into this day of <br /> 20111 by and between Wild Turkey Estates of Vero , L . L . C . , a Florida limited <br /> liability company ( Developer) , and INDIAN RIVER COUNTY , a political <br /> subdivision of the State of Florida ( County ) : <br /> WITNESSETH : <br /> WHEREAS , Developer is mining certain property within Indian <br /> River County and is required to post bonds insuring compliance with the <br /> requirements of the approved mining site plan ; Indian River County Code <br /> Section 934 . 07 ; and restoration of the site . <br /> NOW , THEREFORE , in consideration of the agreements , <br /> promises , and covenants set forth herein , and other good and valuable <br /> considerations , the parties hereto agree as follows : <br /> 1 . The Developer has tendered to the County Office of <br /> Management and Budget ( Escrow Agent) the sum of Forty - Nine Thousand <br /> Eight Hundred and No/ 100 Dollars ( $ 49 , 800 . 00 ) , 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 of Indian River County <br /> Code Chapter 934 with respect to site plan compliance . <br /> 2 . Upon completion of the restoration of each mine phase , the <br /> Developer may obtain a disbursement from the escrow account by making a <br /> written request to Indian River County ' s Community Development Director . The <br /> request shall specify the amount of disbursement , and shall be accompanied by <br /> a sealed certificate from Developer' s engineer that the mine is in compliance and <br /> has been restored in accordance with the most recent set of plans approved and <br /> on file with the County . <br /> 3 . Within seven ( 7 ) working days after receipt of a disbursement <br /> request , the Community Development Director shall cause an inspection of the <br /> work for which payment is sought . If the Community Development Director is <br /> satisfied in all respects with the condition of the site and certifications , the <br /> Community Development Director shall deliver written notice to disburse to the <br /> 1 <br />