HomeMy WebLinkAbout1999-004Phase III 3/96(FOAbIS\mining3)X,sGAL(HGC/nhm)
Supplemental Security
CASH DEPOSIT AND ESCRON AGREEMENT
SP -MA- 95-04-17
THIS AGREEMENT is entered into this day of U , 19!J
by and between Atlantic Coast EnterprisQ5, Inc. (Develo er), and
® INDIAN RI:"ER COUNTY, a political subdivision of the State of Florida
(County):
H I T N E 8 8 E T H:
WHEREAS, Developer is mining certain property within Indian River
County and is required to post bonds insuring compliance with the
requirements of the approved mining site plan: Indian River Coun:y Code
Section 934.071 and restoration of the site.
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 Two Thousand Three
Hundred and noJ100------------------------------------ Dollars ($),
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 Chapter 934 with respect to site
plan compliance and site restoration.
z. Upon completion of the restoration of each mine phase, 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 Brom Developer's engineer that the mine
is in compliance and has been restored in accordance with the most recent
set of plans approved and on file with the County.
3. Within seven (7) working days after receipt of a disbursement
request, the Com*minity 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 Manaaem_ent end R„Ager_ npc.
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 but not limited to unapproved off-site discharge of
water, failure to confine hauling to approved hauling routes, operating in
violation of the safety/security plan, excavating within required setbacks,
mining of additional phases prior to restoration of the previous phase, and
activity not consistent with permits issued by other jurisdictional agencies:
or if Developer fails to perform all or any part of the obligations of
restoration and reclamation, including, but not limited to mine abandonment
prior to restoration, restoration not completed within the approved time
frame, restoration not consistent with Hater Management Standards as
contained in Section 934.05 of the Indian River County Code, and restoration
activity not consistent with permits issued by other jurisdictional agencies.
Lnu Cousacy may utilize escrowed funds to achieve compliance or restoration.
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 nudget
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 or restoration conditions of the mining approval, and
that said funds are necessary to achieve compliance. All funds disbursed to
CounLy in excess of the final amount determined necessary by the County shall
be returned to Developer, its legal representatives, successors or assigns,
at the completion of site restoration.
C>
5. 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
0 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 mining site.
7. Alternate security, in the form of performance bondo 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
parties and shall not be construed or amplified by reference to any prior
agreement, discussion, or understanding, except as specifically mentioned
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: ATLANTIC COAST ENTERPRISES, INC., a
Florida corporation
printed names e,f3 .1a Swld By:
1
printed name: � c _ P ,Cpicii a Y cf 1?ro1va,1
title:��
k-iAted name:.ciA, pUc-� (tet be president or Vice President)
Date s /a /S A d -�
OFFICE OF MANAGEMENT AND
BUDGET
Date: By:
J ap A. Baird, Direct r
Date: IZ-0
1ttk0V41,% 9-
APPROVED AS TO FORM
AND LEGAL SUFFICIENCY
RY
WILLIAM G. COLLINS II
DEPUTY COUNTY ATTORNEY
2
BOARD OF COUNTY COMMISSIONERS
OF INDIAN RIVER COUNTY, FLORIDA
By: KF
_NNETH R. MACHr , Chairman
ATTEST:
By:
Jeffrey K. Barton, Clerk-) n
(SEAL)