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l <br /> PLAN LEGAL(WGC/nhm ) <br /> For use with Contract for <br /> Construction of Required <br /> Sidewalk Improvements <br /> Pointe West Central Village , Phase III , P . D . <br /> CASH DEPOSIT AND ESCROW AGREEMENT <br /> THIS AGREEMENT is entered into this 1st day of Apri 1 <br /> 2003 , by and between Pointe West of Vero Beach , Ltd . , a Florida limited <br /> partnership ( Developer) , and INDIAN RIVER COUNTY , a political subdivision of <br /> the State of Florida (COUNTY) : <br /> WITNESSETH : <br /> WHEREAS , Developer has effected development of land within Indian <br /> River County and is required to provide surety supporting a contract with the <br /> County for the construction of certain required sidewalk improvements related <br /> thereto ; <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 Thirty-Five Thousand Six Hundred <br /> Forty-Five and 401100 Dollars ($ 35 , 645 .40 ) , 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 Contract for Construction of Required Sidewalk Improvements , <br /> which agreement is attached hereto and incorporated herein by reference <br /> (Contract) . <br /> 2 . Upon completion , the Developer may obtain a disbursement from <br /> the escrow account by making a written request to the Board of County <br /> Commissioners of Indian River County through the County' s Public Works <br /> Director. The request shall specify the amount of disbursement desired and shall <br /> be accompanied by a sealed certificate from Developer' s engineer describing the <br /> work completed , the actual cost thereof, and that the work for which <br /> disbursement is requested has been completed in accordance with County <br /> policies for sidewalk construction as those policies relate to location , method , and <br /> type of construction . <br /> 1 <br />