HomeMy WebLinkAbout1985-072RESOLUTION 85- 72
® RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN
RIVER COUNTY, FLORIDA AUTHORIZING THE RELEASE OF A PORTION OF
THE FUNDS HELD UNDER THE TERMS OF AN ESCROW AGREEMENT BETWEEN
PETER SABONJOHN, JR., FLORIDA NATIONAL BANK, AND INDIAN RIVER
COUNTY TO GUARANTEE THE CONSTRUCTION OF REQUIRED IMPROVEMENTS
IN FLORENCE ACRES SUBDIVISION.
WHEREAS, Indian River County, (County) Peter G.
Sabonjohn, Jr., (Developer) and Florida National Bank (Bank)
have entered into a cash deposit and escrow agreement; and
WHEREAS, under the terms of said agreement, the Devel-
oper has made a written request for disbursement of funds
held to guarantee required improvements, and has submitted an
engineer's certification of the completed work along with
release of lien statements from all contractors and
sub -contractors reguarding work performed in the subdivision;
and
WHEREAS, under the terms of said agreement, the Public
Works Director has caused an inspection of the required
improvements, is satisfied with most of the work performed,
and recommends disbursement of a certain portion of the funds
held in escrow by the Bank.
Now, therefore, be it resolved by the Board of County
Commissioners of Indian River County, Florida that:
Funds from the escrow account in the amount of
$12,400.00 be disbursed by the Bank to the Devel-
oper or to any third party or parties upon which
Bank and Developer may agree. Funds in the amount
of $4,100.00 shall remain in the escrow account
under the terms of the existing agreement.
The foregoing resolution was offered by Commissioner
Bird who moved its adoption. The motion was
seconded by Commissioner Bowman and upon
being put to a vote, the vote was as follows:
Chairman Patrick B. Lyons Absent
Vice -Chairman Don C. Scurlock, Jr. Aye
Commissioner Richard N. Bird Aye
Commissioner Maggy Bowman Ave
Commissioner William C. Wodtke, Jr. Absent
The Chairman thereupon declared the resolution duly
passed and adopted this 10th day of
July , 1985
BOARD OF COUNTY COMMISSIONERS
OF INDIAN RIVER COUNTY, FLORIDA
BY:
DnN C. SC[1RL. ,K,. JT).
VTCE CHATRMAN
Attest: c,_ %Ae-kk CL /tc r f
FREDA WRIGHT, Ck
STATE OF FLORIDA
COUNTY OF INDIAN RIVER
RESOLUTION 85- 72
I HEREBY CERTIFY that on this day, before me, an officer
duly authorized in this State and County to take acknow-
ledgements, perso / Cha� appeared DON C. SCllnj,nCx ,,TP , and
® FREDA WRT.GHT, as irman of the Board of County
Commissioners and Clerk, respectively, to me known to be
the persons described in and who executed the foregoing
instrument and they acknowledged before me that they
executed the same.
WITNESS my hand and official seal in the County and
State last aforesaid this /p( day of
A.D., 1985.
N a blic;
NOTARY PUBLIC 97;• I�V €LORIDA
BONDED THRU GEN&R t•. NCE UNCK
APPROVED A TO ORM AND LEGAL b1Y �OMMISSIoX XPl�LY .a 19E3•
SUFFICIEN
A1:7
BY:
A BRANDENBURG
C n Attorney