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. S <br /> buildable land at the Mueller Campus ( " Library" ) , together with sufficient parking for <br /> Library users (the Library and parking hereinafter collectively referenced as " Library <br /> Facility " ) , <br /> K . The COUNTY finds that the funding for the Library Facility to be provided under <br /> this Agreement will serve a public purpose and will benefit the Indian River County <br /> community . <br /> L . The COUNTY finds that the Library Facility contemplated in this Agreement will <br /> serve a public purpose and will benefit the Indian River County community . <br /> M . The FOUNDATION and the TRUSTEES each find that the Library Facility <br /> contemplated in this Agreement will serve a public purpose and will benefit the Indian <br /> River County community as well as the students , faculty, and staff of Indian River <br /> Community College , <br /> N . This Agreement is entered into pursuant to and in accordance with the Challenge <br /> Grant Program , and other applicable provisions of Florida law . <br /> O . The Indian River County Clerk of the Circuit Court ("CLERK") is a party to this <br /> Agreement as Florida Statutes section 28 . 12 (2004 ) provides that the CLERK shall be <br /> clerk and accountant of the Indian River County Board of County Commissioners . <br /> NOW , THEREFORE , IN CONSIDERATION of the mutual covenants contained <br /> herein , and for other good and valuable consideration , the receipt and sufficiency of which <br /> are hereby acknowledged , the parties agree as follows : <br /> 1 . RECITALS . The background recitals set forth above are true and correct , form a <br /> material part of this Agreement ; and are incorporated herein by reference . <br /> 2 . DEPOSIT OF FUNDS . After the FOUNDATION has approved and executed this <br /> Agreement on January 18 , 2005 , and after the TRUSTEES have approved and executed <br /> this Agreement on January 25 , 2005 , and on or before January 31 , 2005 , the COUNTY <br /> and the CLERK shall transfer or cause to be transferred to the FOUNDATION the amount <br /> of Four Million Three Hundred Thousand Dollars ($4 , 300 , 000 . 00) (such amount , together <br /> with any earned interest thereon as set forth in this Agreement , the "County Contribution ") <br /> to be deposited into a separate capital facilities matching account maintained in a <br /> qualified public depository as defined in Florida Statutes section 280 . 02 (2004) and located <br /> in the State of Florida (hereinafter a "Qualified Public Depository") (the " FOUNDATION <br /> Matching Account") , and held , invested , and disbursed as provided in this Agreement . <br /> 3 . MATCHING ACCOUNTS . <br /> 3 . 1 . FOUNDATION Matching Account . On or before the Effective Date of this <br /> Agreement , the FOUNDATION shall establish the FOUNDATION Matching Account in <br /> 3 <br />