HomeMy WebLinkAboutDELETE PHASE
CASH DEPOSIT AND ESCROW AGREEMENT
FOR
COMPLIANCE
RE : WILD TURKEY SAND MINE
SP - MA-07 - 10 -34 ( 2004120019 -59695 )
THIS AGREEMENT is entered into this day of
20111 by and between Wild Turkey Estates of Vero , L . L . C . , a Florida limited
liability company ( Developer) , and INDIAN RIVER COUNTY , a political
subdivision of the State of Florida ( County ) :
WITNESSETH :
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 County Code
Section 934 . 07 ; 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 Forty - Nine Thousand
Eight Hundred and No/ 100 Dollars ( $ 49 , 800 . 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 Chapter 934 with respect to site plan compliance .
2 . 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 from 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 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
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