12/13/2017 12:16:33 PM
10/6/2017 12:29:55 PM
Official Document Type
Cash Deposit and Escrow Agreement
Agenda Item Number
8.C. (2 documents)
Duane C. Pankratz
Wild Turkey Sand Mine Cash Deposit and Escrow Agreement
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
All rights reserved.
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View plain text
FOURTH PHASE <br />CASH DEPOSIT AND ESCROW AGREEMENT <br />FOR <br />RESTORATION <br />RE: WILD TURKEY SAND MINE <br />SP -MA -07-10-34 (2004120019-59695) <br />THIS AGREEMENT is entered into this 3rd day of October , <br />2017, by and between Wild Turkey Estates of Vero, L.L.C., a Florida limited <br />liability company (Developer), Duane C. Pankratz, party posting security <br />(Funder), and INDIAN RIVER COUNTY, a political subdivision of the State of <br />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; and <br />WHEREAS, in March, 2011, Funder posted $83,867.74 cash to <br />guarantee compliance with the restoration requirements of the approved mining <br />site plan for Phase 1; and in May, 2011 the posted security was reduced to <br />$67,710.90 due to a portion of the restoration requirements being already posted <br />with Sebastian River Improvement District for canal right-of-way restoration; and <br />WHEREAS, Phase 1 was restored to the satisfaction of the County <br />based on site inspection and the posted funds were transferred to the second <br />phase; and <br />WHEREAS, the second phase was restored to the satisfaction of <br />the County based on site inspection, and the Developer transferred the entire <br />$67,710.90 cash from the second phase to the third phase; and <br />WHEREAS, the third phase has now been restored to the <br />satisfaction of the County based on site inspection, and the Developer is now <br />desirous to move into the fourth phase; and <br />WHEREAS, Developer and Funder wish to transfer the entire <br />$67,710.90 cash being held by County, from the third phase to the fourth phase, <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 />
The URL can be used to link to this page
Your browser does not support the video tag.