2004-108 - Laserfiche WebLink

Home Browse Search

disbursement desired and shall be accompanied by a sealed certificate from Developer' s engineer describing the work completed , the actual cost thereof, and that the work for which disbursement is requested has been completed in accordance with the most recent set of plans and specifications approved and on file with the County . 3 . Within seven ( 7 ) 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. 4 . Upon default by developer under the Contract and Modifications , 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 and Modifications . Said funds shall be disbursed to the County upon receipt by the Office of Management and Budget of a certified copy of a resolution of the Board of County Commissioners stating that Developer has defaulted under the Contract. and Modifications 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 administrative expenses , shall be disbursed to Developers at close of escrow. 6 . The funds deposited hereunder exist solely for the protection , use and benefit of the County and shall not be construed or intended in any way, expressly or impliedly, to benefit or secure payment to any contractor, subcontractor, laborer, materialman , architect , engineer, attorney or other party providing labor, material , supplies , or services for construction of the required improvements , 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 County 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 and Modifications , 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 Agreement shall not be assigned without the express written approval of the County . Any amendment , deletion , modification , extension , or revision hereof or hereto shall be in writing , and executed by authorized representatives of each party . 2 F:\Attomey\Nancy\DOCS\PLAN\cash deposit for K chase meadows .doc