2005-317 - Laserfiche WebLink

Home Browse Search

Aug 15 05 07e5Ga Indian River County 772 - 770 - 5095 p024 4 . Upon default by developer under the Contract , the County may elect to pursue any of the remedies made available therein . All funds remaining in the escrow account at the time default is declared by the County shall be available for use by the County in accordance with the, Contract . Said funds shall be disbursed to the County upon receipt by the Office of Management and Budget of a certified ; ecopy of -a f6solution -"Ofi the " Board. of County Commissioners stating that Developer has defaulted under the Contract and that said funds are necessary to complete the required improvements . All funds disbursed to County in excess of the final amount determined necessary by the County to complete the required improvements shall be returned to Developer, its legal representatives , successors or assigns . 5 . Any interest earned during the term of escrow, less dministrative expenses , shall be disbursed to Developers at close of escrow . 6 : The funds deposited hereunder exist solely for the protection , use and tiehefif ' of the County anc! shalhnot be construed or intended in any way, expresslybr ' impliedly , 'to benefit" or secure payment- to any contractor, subcontractor , laborer, materlalman , architect; engineer, -' a ttoirheey ' or other -party p rc v i d i n g labor, material , supplies , or services for construction oVthe requiredimprov ments , or to benefit any lot purchase , while such funds remain subject to this escrow agreement , unless and until the County shall agree otherwise in writing . The Count shall not be liable to any of the aforementioned parties for claims against the Developer or contractor relating to the required subdivision improvements . 7 . This Agreement, together with the attached Contract , is the full and complete understanding of the parties and shall not be construed or, amplified by reference to any' prior agreement , discussion ;' ' or ' understanding , except as specifically mentioned 'herein `This }-4Agreement shall not be assignec without the express written approval ' of the County -- Any amendment , deletion , modification , extension , or revision hereof or'' hereto> shall be in 'writing , an`d executed y authorized representatives of each party . ` IN WITNESS WHEREOF , the parties hereto have set their hands and seals on the day and year first above written . WOODSID TRILLIUM , LLC , Il, a Florida limited Iia ility company Developer gy . er , Manager 2 F:\ Attorney\Nancy\DOCS\PLAt\brookfield at trillium a cash deposit for side ICA=