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Aug 15 05 07 : 55a Indian River . .- County . 7, 7 71U - 5ubb p . cd Brookfield at Trillium Phase 'A' For Certificate of Completion CASH DEPOSIT AND ESCROW AGREE ENT THIS AGREEMENT is entered into this 11 th day of August 2005 , by and between Woodside Trillium , LL , a Florida limited liability company ( Developer) , and INDIAN RIVER COUNTY, a political subdivision of the State of Florida ( County) : WITNESSETH ; WHEREAS , Developer has effected a subdivision of certain property within Indian River County and is required to provide surety supporting a contract with the Coursty ..for. thew£ construet6drU! of, TcertafriolV..requ red sidewalk I provements related thereto ; NOW , THEREFORE , - in consideration of the agreements , promises , and covenants set forth herein , and other good and valuable cons id rations , the parties hereto agree as follows : 1 . The Developer has tendered to the County Office of Management and Budget (Escrow Agent) the sum of Forty-Three Thousand Two Hundred Twenty- Five and No/100 Dollars , U . S . ($43 , 225 . 00) , the receipt whereof is hereby acknowledged , which sum shall :. be . held : in , : escrow by said Office , s bject to the terms , conditions: and covenants of Ahis escrow.: . scrow. agreement. as assurance that Developer .-shall ;-. ,perform Pi fall : respects the obligations' set f rth in the aforementioned Contract for Construction of Required Sidewalk Improvements , which agreement is attached hereto and incorporated herein by referenced ( Contract) . •2. Upon completion, the Developer may obtain a disbursement from the escrow account by making a written request to the Board of County Commissioners of Indian River County through the County' s Public Woks Director . The request shall specify the amount of disbursement desired a d shall be accompanied by a sealed certificate from Developer's engineer describing the work completed , the actual cost thereof, the estimated cost of all remaining ork which is secured by the escrow account ,o%ands < -that the * work for which disb rsement is requested has been com leted � h accordance with'•th1. e most recent set Of plans and specifications, approve& and on1'file with. the" , Gbunty: `;. 3 . Within seven ( i ) : ,working:` days-- after receipt , .of a disbursement request, the Public Works Director shall cause an - inspection , of the work for which payment is sought . If the Public Works Director is satisfied in all respects with the work , the accompanying cost estimates and certifications , the Public Works Director shall notify in writing the County Office of Management and Budget. The Office of Management and Budget shall make the disbursement as approved by the Public Works Director directly to Developer , 1 F:Wttomey\NancyIDQCSU'LAN\broolcdeld at trillium a cas)i deposit for side K.doc ,