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Home My WebLink About2007-175 F Century Town Center aOOPIT 5 Tax Parcel I . D. ##33-39-07-00001 -0080-00001 . 1 and 33-39-07-00001 -0080-00002.0 Compliance - $8 , 660 . 00 Restoration - $ 5 , 000 . 00 CASH DEPOSIT AND ESCROW AGREEMENT AA-07-05-86 (2004060358-57889) THIS CASH DEPOSIT AND ESCROW AGREEMENT is entered into this __O_ day of 2007 , by and between CRF - PANTHER IX, LLC , a Florida limited li bility 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 Thirteen Thousand Six Hundred Sixty and No/ 100 Dollars ($ 13 , 660 . 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 ($8 , 660 . 00 compliance) and site restoration ($ 5 , 000 . 00 restoration ) . 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 . FATRUEANDCORRECTC6PYOF LORIDA ER COUNTY ERTIFY THAT THIS IS ..CORRECTC6PVOF AL ON FILE IN THIS EY, �, SARTOWCLERK F:\Attomey\Nancy\DOCS\PLAN\mining century town center2.doc -"� -�czwD. C. DATE - Cr - tel' ""'.f C 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 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 Water 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 , the County may utilize escrowed funds to achieve compliance or restoration , and Developer will not interfere with the County , its contractors , subcontractors , laborers or materialmen in achieving compliance or restoration of the site . 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 or restoration conditions of the mining approval , 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 completion of site restoration . 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 any contractor, subcontractor, laborer, materialman , architect , engineer, attorney or other party providing labor, material , supplies , or services to Developer while such funds 2 F:\Attorney\Nancy\DOCS\PLAN\mining century town center2.doc 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 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 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: CRF - PANTHER IX, LLC , a Florida limited liability company sign name: By ANCHOR INVESTMENT print name : IL CORPORATION OF FLA. , a Florida corporation Ma ging Member sign nameBy: print name cle AugZAV, Lawrence T. Maxwell , President Date : 6 1 J BOARD OF COUNTY COMMISSIONERS OF INDIAN COUNTY, FLORIDA Date : o ATTEST; Jeffrey K. Barton , Clerk Ga C . Wheeler, Chairman By: v �—�( (SEAL) Deputy Clerk OFFICE OF MANAGE NT APPROM AS TO FORM ANDRSGI&$QlFFVWJ 1 AND BPOW By' WILLIAM O. COLLINS b Jason . Bro OMB irect COUNTYATTORNE,�f 3 ` F:\Attorney\Nancy\DOCS\PLAN\mining century town centerldoc - - _ 7 DATE ''INVOICE AMOUNT 83"761/831 CRF-PANTH�RIX,. CLC . P.O. BOX 6262. .. 13 6 J. LAKELAND, FL 33807, 526 THE' SUN, � y g (Y /� /� ti.*I IN . •fJoNt jy.IF 0 CTS- PAY DOLLARS CHECK NO. , , TO THE ORDEq OF ,: DATE GROSS AMOUNT OISCOUN CHECK AMOUNT . I \ YSF`GPm 16 9r 9 Ji. P WACHOVIA BANK OF FLORIDA 11300L36911• 15063L075L342000028LIL9lLill 1 - _. _ - DATE '- :INVOICE 'AMOUNT 83-751/831 CRF-PANTHER IX, .LLC P.O. BOX 5252 ` LAKELAND, FL 33807-52 � 1370 37O PAY THE +Wf Mmebots, co Ctrs . DOLLARS . CHECK NO. TOTHEORDEROF DATE Gg055 AMOUNT I DISCOUNT . . CHECK AMOUNT - a :Z;i06 61 pF WACHOVW BANK OF FLORIDA IN 11' 00 L 370113 10063 L075 L DO 20000 28L 4 L9 L LII'