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Townhouses at Trillium <br /> CASH <br /> DEPOSIT AND ESCROW AGREEMENT <br /> THIS AGREEMENT is entered into this <br /> 8th day of <br /> _February , 2005 , by and between GHO VERO BEACH Vili� ING., a Florida <br /> corporation (Developer), and INDIAN RIVER COUNTY, a political subdiviSiOn of the <br /> State of Florida (County) : <br /> WITNESSETH ; <br /> WHEREAS , Developer has effected deusuretY sub o�ng a property <br /> within Indian River County and Is required to prove <br /> with the County for the construction of certain required sidewalk improvements <br /> related thereto; <br /> NOW , THEREFORE , in consideration of the agreements, promises, <br /> and 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 Manag�F•tDe <br /> nt <br /> and Budget (Escrow Agent) the sum of Eight Thousand Two Hundred �'tyur ; <br /> and No/100 Dollars , U ,S , ($6 ,234,00) , the receipt whereof it hereby <br /> ckno d►tied <br /> which sum shall be held In escrow by said Office , subject <br /> shall perform <br /> and covenants of this escrow agreemenoRh ajn Uthe a orerancetmentionedDevelor Contractfor <br /> in all respects the obligations set f <br /> Construction of Required Sidewalk fe e��v meats, .hich agreement is attached <br /> hereto and Incorporated herein byre { <br /> Upon completion of any distinct of separable phase or <br /> 26 improvement, or independent portion thereof, the Developer may obtain a <br /> oard of <br /> disbursement from the escrow amakingwritten <br /> County's Publ 'it thelc Works <br /> County Commissioners of Indian River County through <br /> Director. The request shall spe* the amount of disbursement desired and shall be <br /> accompanied by a sealed certificate from Developer's engineer describing the work <br /> completed , the actual cost thereof, the estimated cost of all remaining work which is <br /> and thatrk for which disursemet is <br /> secured by the escrow account, twth the most scent setof pt nsnand <br /> requested has been completed in accordance <br /> specifications approved and on file with the County . <br /> 31 The amount of any given disbursement shall not exceed <br /> nigh <br /> ( 30%) percent of the total cot of improvements <br /> cering tified as eighty <br /> the preceding paragraph ; percent cost of phase, <br /> crow <br /> Improvement, or which <br /> shall <br /> thereof. shall <br /> nl alafter ssuance Intheto Certificate o Completion n • <br /> ount until the <br /> Final reduction , which shall Y <br /> accordance with the County' s Subdivision and Platting Ordinance . ; <br /> F;\%tt6MC,0Mr1cy\D=\?LAN\msh deposit for side K WwAhousa rpt rsiil"Lftdoc <br />