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to O3 0 (v <br /> AGREEMENT FOR THE ESCROW OF COSTS '7 T <br /> FOR CHANGE ORDER #4 TO CR 512, PHASE III , CR 510 ROAD PROJECT <br /> (LEFT TURN LANE AND RIGHT TURN LANE FOR THE SHOPPES OF SEBASTIAN II DEVELOPMENT) q00 <br /> THIS AGREEMENT, made and entered into this 3rd day of October d <br /> 2006 by and between BLUE RIBBON SEBASTIAN , LLC, a Georgia limited liability <br /> company, hereinafter referred to as "Developer" , and INDIAN RIVER COUNTY, a political <br /> subdivision of the State of Florida , hereinafter referred to as "County" . <br /> WITNESSETH : <br /> 1 . Developer has commenced construction of a commercial project <br /> within the City of Sebastian referred to as the Shoppes of Sebastian II . <br /> 2 . As a condition of its County right-of-way permit, Developer is required <br /> to construct both a left turn lane and a right turn lane for its project. <br /> 3 . Currently County is under contract with J .W . Cheatham , LLC to <br /> widen CR 512 from Roseland Road to the Sebastian River Middle School ( Project #9611 <br /> and 0001 - CR 512 , Phase III , CR 510 ). <br /> 4 . Developer has agreed to provide cash funds to pay for all costs for a <br /> change order (#4), copy attached , to the CR 512, Phase III , CR 510 road project currently <br /> under construction by County in order to accommodate for both a left turn lane and a right <br /> turn lane for Developer's project, thus eliminating unnecessary road and pavement marking <br /> re-work resulting in a uniform and economical product. <br /> 5. It is agreed between the parties that in consideration of the escrowed <br /> sum of $215,507.25, by Developer to Indian River County, County acknowledges that <br /> Developer has met a condition of the right-of-way permit as outlined in paragraph 2 above . <br /> IN WITNESS WHEREOF , the parties hereunto set their hands and seals this <br /> 3rd day of October , 2006 . <br /> BLUE ON SEBASTIAN , L , a Borgia <br /> limit <br /> mil tl ' y compo y <br /> J . t cox, III , Managing Me er <br /> J <br /> j " DEVELOPER" <br /> , <br /> DIAN RIVER COUNT FLO , A <br /> By , . '. <br /> rthur R . Nqube , hairma <br /> ATTEST: J . K. Barton , Clerk Board of Ccp rsty'Gommission` <br /> a "COUNTY" <br /> Deputy Clerk BCC approved: _" 06tolher 3 , 2006 <br /> APPROVED AS TO PORN <br /> AND LAQALiYPHIDt <br /> BYE <br /> WILLIAM G. COLLINS N <br /> COUNTYATTOORM <br /> F:\Attorney\Nancy\DOCS\PLAN\shoppes of seb escrow agreement.doc <br />