7/14/2016 1:37:35 PM
9/30/2015 8:36:25 PM
Official Document Type
Agenda Item Number
The Eddie Huggins Land Grading Co., LLC
Cash Deposit and Escrow Agreement
Corrigan Ridge Phases 2 & 3
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County office of Management and Budget . Upon receipt of the notice to <br /> disburse , the office of Management and Budget shall make the disbursement <br /> described therein directly to Developer , at the address specified in the request <br /> for disbursement. <br /> 4 . Upon failure to comply with all the requirements of the site plan <br /> approval , including but not limited to unapproved off-site discharge of water , <br /> failure to confine hauling to approved hauling routes , operating in violation of the <br /> safety/security plan , excavating within required setbacks , mining of additional <br /> phases prior to restoration of the previous phase , and activity not consistent with <br /> permits issued by other jurisdictional agencies ; or if Developer fails to perform all <br /> or any part of the obligations of restoration and reclamation , including , but not <br /> limited to mine abandonment prior to restoration , restoration not completed <br /> within the approved time frame , restoration not consistent with Water <br /> Management Standards as contained in Section 934 . 05 of the Indian River <br /> County Code , and restoration activity not consistent with permits issued by other <br /> jurisdictional agencies , the County may utilize escrowed funds to achieve <br /> compliance or restoration . All funds remaining in the escrow account at the time <br /> default is declared by the County shall be available for use by the ho untys Said <br /> funds shall be disbursed to the County upon receipt by t <br /> of <br /> Management and Budget of a certified copy of a resolution of the Board of <br /> County Commissioners stating that Developer has failed to comply with Indian <br /> River County Code Chapter 934 site plan or restoration conditions of the mining <br /> approval , and that said funds are necessary to achieve compliance . All funds <br /> disbursed to County in excess of the final amount determined necessary by the <br /> County shall be returned to Developer, its legal representatives , successors or <br /> assigns , at the completion of site restoration . <br /> 5 . Any interest earned during the term of escrow , less <br /> administrative expenses , shall be disbursed to Developer at close of escrow <br /> unless necessary for County to utilize in cure of developer' s default . <br /> $ . The funds deposited hereunder exist solely for the protection , <br /> use and benefit of the County and shall not be construed or intended in any way, <br /> expressly or impliedly, to benefit or secure payment to any contractor, <br /> subcontractor, laborer, materialman , architect , engineer, attorney or other party <br /> providing labor, material , supplies , or services to Developer while such funds <br /> remain subject to this escrow agreement. The County shall not be liable to any <br /> of the aforementioned parties for claims against the Developer relating to the <br /> approved mining site . <br /> 7 . Alternate security, in the form of performance bonds or letters <br /> of credit, may be substituted with the approval of the County Attorney, <br /> 8 , This Agreement is the full and complete understanding of the <br /> parties and shall not be construed or amplified by reference to any prior <br /> agreement, discussion , or understanding , except as specifically mentioned <br /> 2 <br />
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