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1 <br /> Brian Davis Sand Mine �� U <br /> VVI <br /> Ib,, a o <br /> CASH DEPOSIT AND ESCROW AGREEMENT <br /> SP -MA-04 -08 -46 (2002040059 -40549 ) <br /> THIS AGREEMENT is entered into this 7th day of February <br /> 2006 , by and between Brian Davis ( Developer) , and INDIAN RIVER COUNTY , <br /> a political subdivision of the State of Florida ( County ) : <br /> WITNESSETH : <br /> WHEREAS , Developer is mining certain property within Indian <br /> River County and is required to post bonds insuring compliance with the <br /> requirements of the approved mining site plan ; Indian River County Code <br /> Section 934 . 07 ; and restoration of the site . <br /> NOW , THEREFORE , in consideration of the agreements , <br /> promises , and covenants set forth herein , and other good and valuable <br /> considerations , the parties hereto agree as follows : <br /> 1 . The Developer has tendered to the County Office of <br /> Management and Budget (Escrow Agent) the sum of Fifty-Two Thousand Nine <br /> Hundred Twenty and No1100 Dollars ($ 52 , 920 . 00 ) , the receipt whereof is <br /> hereby acknowledged , which sum shall be held in escrow by said Office , subject <br /> to the terms , conditions and covenants of this escrow agreement as assurance <br /> that Developer shall perform in all respects the obligations of Indian River County <br /> Code Chapter 934 with respect to site plan compliance and site restoration . <br /> ( Compliance $ 34 , 310 . 00 and Restoration $ 18 , 610 . 00 ) <br /> 2 . Upon completion of the restoration of each mine phase , the <br /> Developer may obtain a disbursement from the escrow account by making a <br /> written request to Indian River County' s Community Development Director. The <br /> request shall specify the amount of disbursement, and shall be accompanied by <br /> a sealed certificate from Developer's engineer that the mine is in compliance and <br /> has been restored in accordance with the most recent set of plans approved and <br /> on file with the County. <br /> 3 . Within seven (7 ) working days after receipt of a disbursement <br /> request, the Community Development Director shall cause an inspection of the <br /> work for which payment is sought . If the Community Development Director is <br /> satisfied in all respects with the condition of the site and certifications , the <br /> Community Development Director shall deliver written notice to disburse to the <br /> County Office of Management and Budget . Upon receipt of the notice to <br /> I <br />