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ATRUE COPY <br /> CERTIFICATION ON LAST PAG <br /> J . K . BARTON , CLERK <br /> 4 . Upon defect in the improvements guaranteed under the agreement, <br /> the County may elect to pursue any of the remedies made available therein . All <br /> funds remaining in the escrow account at the time default is declared by the <br /> County shall be available for use by the County in accordance with the <br /> agreement. Said funds shall be disbursed to the County upon receipt by the <br /> Office of Management and Budget of a letter from the County Administrator or <br /> designee to use the funds stating that Developer has defaulted under the <br /> agreement and that said funds are necessary to repair the improvements . All <br /> funds disbursed to County in excess of the final amount determined necessary <br /> by the County to repair the improvements shall be returned to Developer, its legal <br /> representatives , successors or assigns , at the end of the guaranty period . <br /> 5 . Any interest earned during the term of escrow, less administrative <br /> expenses , shall be disbursed to Developer at close of escrow . <br /> 6 . The funds deposited hereunder exist solely for the protection , use <br /> 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 for construction of the required <br /> improvements while such funds remain subject to this escrow agreement. The <br /> County shall not be liable to any of the aforementioned parties for claims against <br /> the Developer or contractor relating to the required improvements . <br /> 7 . This Agreement, together with the agreement referenced herein , is <br /> the full and complete understanding of the parties and shall not be construed or <br /> amplified by reference to any prior agreement , discussion , or understanding , <br /> except as specifically mentioned herein . This Agreement shall not be assigned <br /> without the express written approval of the County . Any amendment, deletion , <br /> modification , extension , or revision hereof or hereto shall be in writing , and <br /> executed by authorized representatives of each party. <br /> IN WITNESS WHEREOF , the parties hereto have set their hands and <br /> seals the day and year first above written . <br /> Signed in the presence of: RPVB, LLC , a Florida limited liability <br /> company <br /> printed name A1Ctn nl. dtUTA95By: <br /> Timothy S . k <br /> Managing MemberAil <br /> pri d ame : <br /> 2 <br /> F:1Attorney\Nancy5D0051PLANlharbor chase cash deposit for maint site plan.doc <br />