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Exhibit " E " MEMORANDUM OF AGREEMENT THIS AGREEMENT, made and entered into this / &rµ , day of DE.CaMEZ , 200 18 1 by and between the State of Florida , Department of Transportation, hereinafter referred to as " DEPARTMENT" , the State of Florida , Department of Financial Services, Division of Treasury, and INDIAN RIVER COUNTY hereinafter referred to as the "PARTICIPANT" . WITNESSETH WHEREAS, " DEPARTMENT" is currently constructing the following project : - Financial Project Number : 228628= 1 = 52-01, 228628= 1-6L D1, & 228628= 1 -62-01 County : INDIAN RIVER hereinafter referred to as the " Project" . WHEREAS, the DEPARTMENT and the PARTICIPANT entered into a Locally Funded Agreement ( LFA) dated bereM\rjPr' 15. ZOo.0 , wrherein the DEPARTMENT agreed to perform certain work on behalf of the PARTICIPANT in conjunction with the Project. WHEREAS, the parties to this AGREEMENT mutually agreed that it would be in the best interest of the DEPARTMENT and the PARTICIPANT to establish an interest bearing escrow account to provide funds for the work performed on the Project on behalf of the Participant by the DEPARTMENT. NOW THEREFORE, in consideration of the premises and the covenants contained herein , the parties agree to the following : 1 . The DEPARTMENT and the PARTICIPANT agree that the recitals set forth above are true and correct and deemed incorporated herein . 2 . An initial deposit in the amount of FOURTEEN MILLION FOUR HUNDRED TWENTY NINE THOUSAND SEVEN HUNDRED FIFTY FOUR DOLLARS ( $ 14,429,754.00) will be made by the PARTICIPANT into an interest bearing escrow account established by the DEPARTMENT for the purposes of the Project. Said escrow account will be opened with the Department of Financial Services, Division of Treasury, and the Bureau of Collateral Management on behalf of the DEPARTMENT upon receipt of this Memorandum of Agreement. Such account will be an asset of the DEPARTMENT. 3 . Other deposits will be made only by the PARTICIPANT as necessary to cover the cost of additional work prior to the execution of any Supplemental Agreements .