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ATRUECOPY <br /> CERTIFICATION ON LAST PAGE <br /> Site plan J .K. BARTON, CLERK <br /> Harbor Chase warranty road and drainage <br /> CASH DEPOSIT AND ESCROW AGREEMENT <br /> THIS AGREEMENT is entered into this 7 day of JyAIC7 2007 , <br /> by and between RPVB , LLC , a Florida limited liability company ( Developer) , <br /> and INDIAN RIVER COUNTY , a political subdivision of the State of Florida <br /> (County) : <br /> WITNESSETH : <br /> WHEREAS , Developer has constructed offsite improvements to Indian <br /> River Boulevard and 41St Street and is required to provide security supporting <br /> Warranty and Guaranty Agreement and Bill of Sale for Required Improvements <br /> (Contract No . SP-MA-03- 10-65 (2003070076-36065 ) with the County for the <br /> warranty and guaranty of certain required improvements related thereto , namely : <br /> See Exhibit "A" attached hereto <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 Three Thousand Seven Hundred <br /> Twenty-Three and 501100 Dollars ($3, 723. 50) , 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 , which agreement is incorporated herein by reference . <br /> 2 . 90 days prior to completion of the 3-year warranty and guaranty <br /> period , the Developer may request a disbursement from the escrow account by <br /> making a written request to the County's Public Works Director. The request <br /> shall specify the amount of disbursement, and shall be accompanied by certified <br /> inspection reports under seal from developer's engineer that the work for which <br /> disbursement is requested remains in satisfactory condition in accordance with <br /> the most recent set of plans and specifications approved and on file with the <br /> County . <br /> 3 . At the end of the three (3) year period (June 4 , 2010) , the public <br /> works director may release the security under the terms of the warranty and <br /> guaranty agreement, upon a determination from the county engineer that <br /> required road and drainage meet applicable county performance standards . <br /> 1 <br /> F:1Attorney\Nancy\DOCS%PLANlharbor chase cash deposit for maint site plan.doc <br />