HomeMy WebLinkAbout2011-185 /06 i
CASH DEPOSIT AND ESCROW AGREEMENT � `�`
FOR cm? /00 �J
COMPLIANCE
RE : INEOS NEW PLANET BIOENERGY
SP4A-10 -05-07 (AA-11 -11401 )
THIS AGREEMENT is entered into this i day of kdVL
2011 , by and between INEOS NEW PLANET BIOENERGY LLC , a D laware
limited liability company authorized to do business in the State of Florida
( Developer) , and INDIAN RIVER COUNTY , a political subdivision of the State of
Florida ( County) :
WITNESSETH :
WHEREAS , as a condition precedent to the approval by the County
of removal of excess material incidental to the Developer' s site plan , the
Developer is required to post security to insure compliance with the requirements
of the permitted site , in accordance with Administrative Approval Site Plan # AA-
11 - 11 - 101 ; and to insure compliance with the ordinances and regulations of
Indian River County , specifically Section 934 . 04 (7 ) (b) , Indian River County Code .
The Administrative Approval Site Plan is incorporated herein by this reference
and made a part hereof for all purposes .
NOW , THEREFORE , in consideration of the agreements ,
promises , and covenants set forth herein , and other good and valuable
considerations , the parties hereto agree as follows :
1 . The Developer has tendered to the County Office of
Management and Budget ( Escrow Agent) the sum of Fifteen Thousand Fifty
and No/100 Dollars ( $ 15 , 050 . 00) , the receipt whereof is hereby acknowledged ,
which sum shall be held in escrow by said Office , subject to the terms , conditions
and covenants of this escrow agreement as assurance that Developer shall
perform in all respects the obligations of Indian River County Code Section
934 . 04 ( 7 ) (b) with respect to site plan compliance .
2 . Upon completion , the Developer may obtain a disbursement
from the escrow account by making a written request to Indian River County's
Community Development Director. The request shall specify the amount of
disbursement , and shall be accompanied by a sealed certificate from
Developer's engineer that the site is in compliance in accordance with the most
ntt Qf plans__aperouer�and -on-file . with., theCounty.
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SPMA40M5 07 (AM1011401 )
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3 . Within seven (7 ) working days after receipt of a disbursement
request , the Community Development Director shall cause an inspection of the
work for which payment is sought , If the Community Development Director is
satisfied in all respects with the condition of the site and certifications , the
Community Development Director shall deliver written notice to disburse to the
County Office of Management and Budget . Upon receipt of the notice to
disburse , the Office of Management and Budget shall make the disbursement
described therein directly to Developer, at the address specified in the request
for disbursement .
4 . Upon failure to comply with all the requirements of the site plan
approval , including Indian River County Code Section 934 . 04 (7) ( b ) , the County
may utilize escrowed funds to achieve compliance . All funds remaining in the
escrow account at the time default is declared by the County shall be available
for use by the County . Said funds shall be disbursed to the County upon receipt
by the Office of Management and Budget of a certified copy of a resolution of the
Board of County Commissioners stating that Developer has failed to comply with
Indian River County Code Chapter 934 site plan compliance conditions , and that
said funds are necessary to achieve compliance . All funds disbursed to County
in excess of the final amount determined necessary by the County shall be
returned to Developer, its legal representatives , successors or assigns , at the
time of site completion .
5 . If escrowed funds are held in excess of 60 days ;,; any interest
earned during the term of escrow , less administrative expenses , shall be
disbursed to Developer at close of escrow unless necessary for County to utilize
in cure of developer' s default.
6 . The funds deposited hereunder exist solely for the protection ,
use and benefit of the County and shall not be construed or intended in any way ,
expressly or impliedly , to benefit or secure payment to any contractor ,
subcontractor, laborer, materialman , architect , engineer, attorney or other party
providing labor, material , supplies , or services to Developer while such funds
remain subject to this escrow agreement. The County shall not be liable to any
of the aforementioned parties for claims against the Developer relating to the
approved site .
7 . Alternate security , in the form of performance bonds or letters
of credit , may be substituted with the approval of the County Attorney.
8 . This Agreement is the full and complete understanding of the
agreement , discussion , or understanding , except as specifically mentioned
2
SP-MA-10.05-07 (AA-11 -11401 )
herein . This Agreement shall not be assigned without the express written
approval of the County . Any amendment , deletion , modification , extension , or
revision hereof or hereto shall be in writing , and executed by authorized
representatives of each party .
IN WITNESS WHEREOF , the parties hereto have set their hands
and seals . The effective date of this Agreement shall be the date of approval by
the Board of County Commissioners .
Signed in the presence of: INEOS NEW PLANET BIOENERGY
LLC , a Delaware limited liability
company qualified to do business
sign name : in the State of Florida
print name : lilt jKimajd,
sign name . By:
print name : ® wj<1 /4c/^/G David W. T . King , Pre ( dent
Date :
NdyPOaNNa04Bf4,ry
p,+a 1100A4 meg.
soo ARD OF COUNTY
MMISSIONERS OF INDIAN RIVER
GUNTY , FLORIDA
o • * a
Let
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mdRCoiii�r° 't� � Bob Solari, Chairman
"aN» waaaaeu
ATTEST : Jeffrey K . Barton , Clerk BCC approved : 09 - 06 - 11
By : ( SEAL)
Deputy Clerk
OFFICE� F MANA NT APPROVED AS TO FORM AND
AND �7Q T � LEGAL SUFFICIENC '
BY: BY: .
Jason Br wn William K. DeBraal
OMBirect r Deputy County Attorney
3
SP-MA4 OvW07 (AA-11 -11A01 )
INDIAN RIVER COUNTY BOARD OF
04
COUNTY COMMISSIONERS
1801 27TH STREET
VERO BEACH FL 32960
Document Your document Date Deductions Gross amount
5100088027 081511 08 / 15 /2011 0 . 00 15 , 050 . 00
Sum total 0 . 00 15 , 050 . 00
STATE OF FLORIDA
f44DIAN RWER COUNTY
MIS IS TO CERTIFY THAT THIS IS
A TRUE AND CORRECT COPY OF
THE t; RIGAINALON FILE IN THIS
OFFICE
M
EY K . �A,,R"l CLERK
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DATE 11I
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Lisle , Il . 60532 10166 Check No .
08 / 15 /2011 10000404
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PAY * * * FIFTEEN THOUSAND FIFTY USD * * * * * ** * ** * 151050 . 00 * USD
TO INDIAN RIVER COUNTY BOARD OF
The COUNTY COMMISSIONERS__ PER P�l .LG Cir
Order 1801 27TH STREET
O f VERO BEACH L 33�A60 g: _ PER L�•
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