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, <br /> Certificate of Completion <br /> Abington Woods PD <br /> CASH DEPOSIT AND ESCROW AGREEMENT <br /> THIS AGREEMENT is entered into this J1 f' day of r� , <br /> 20059 by and between Abington Woods , LLC , a Florida limited liability <br /> company ( Developer) , and INDIAN RIVER COUNTY , a political subdivision of <br /> the State of Florida ( COUNTY ) : <br /> WITNESSETH : <br /> WHEREAS , Developer is effecting development of land within Indian River <br /> County and is required to provide surety supporting a contract with the County for <br /> the construction of certain required sidewalk improvements related thereto ; <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 Twenty-Six Thousand One and 50/100 <br /> Dollars ( $ 26 , 001 . 50 ) , the receipt whereof is hereby acknowledged , which sum <br /> shall be held in escrow by said Office , subject to the terms , conditions and <br /> covenants of this escrow agreement as assurance that Developer shall perform <br /> in all respects the obligations set forth in the aforementioned Contract for <br /> Construction of Required Sidewalk Improvements No . PD -02 - 11 - 15- SIDE <br /> (2002080054-36702 ) , which agreement is attached hereto and incorporated <br /> herein by reference ( Contract) . <br /> 2 . Upon completion , the Developer may obtain a disbursement from <br /> the escrow account by making a written request to the Board of County <br /> Commissioners of Indian River County through the County' s Public Works <br /> Director. The request shall specify the amount of disbursement desired and shall <br /> be accompanied by a sealed certificate from Developer' s engineer describing the <br /> work completed , the actual cost thereof, and that the work for which <br /> disbursement is requested has been completed in accordance with County <br /> policies for sidewalk construction as those policies relate to location , method , and <br /> type of construction . <br /> 3 . Disbursement shall occur only after issuance of a Certificate of <br /> Completion for sidewalks in accordance with the Indian River County Code . <br /> 1 <br /> F :\Attorney\Nancy\DOCS\PLAN\side k cash deposit cert complet abington woods . doc <br />