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23-3558 FDOT Three Party Escrow Agreement with FDOT and DFS for CEI for Southcot Dr Bicycle/Pedestrian Improvements Project
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23-3558 FDOT Three Party Escrow Agreement with FDOT and DFS for CEI for Southcot Dr Bicycle/Pedestrian Improvements Project
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6/21/2023 10:58:00 AM
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6/21/2023 10:57:57 AM
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City Clerk
City Clerk - Doc Type
Resolutions
City Clerk - Date
3/27/2023
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DocuSign Envelope ID. B3C167CD-OF13-47B4-857E-E4BO43973104 <br />7. The Escrow Agent agrees to provide written confirmation of receipt of funds to <br />FDOT. FDOT agrees to provide a copy of such written confirmation to Participant <br />upon request. <br />8. The Escrow Agent further agrees to provide quarterly reports to MOT concerning <br />the escrow account. FDOT agrees to provide a copy of such quarterly reports to <br />Participant upon request. <br />9. The Escrow Agent shall not be liable for any error of judgment or for any act done <br />or omitted by it in good faith, or for anything which it may in good faith do or refrain <br />from doing In connection herewith. <br />10. Escrow Agent shall have no liability for any claim, cost, expense, damage or loss <br />due to the acts or omissions of FDOT and Participant, nor from any separate <br />agreements between FDOT and Participant and shall have no responsibility to <br />monitor or enforce any responsibilities herein or in any separate agreements <br />associated with this Agreement between FDOT and Participant. <br />11. This Agreement shall be governed by and interpreted in accordance with the laws <br />of the State of Florida. <br />12. This Agreement may be executed in two or more counterparts, each of which shall <br />be deemed an original, but all of which together shall constitute one and the same <br />instrument. <br />13. This Agreement shall terminate upon disbursement by the Escrow Agent of all <br />money held by it in the escrow account in accordance with the instructions given <br />by FDOT`s Comptroller or designee and notification from FDOT to Escrow Agent <br />that the account is to be closed. <br />The remainder of this page is blank. <br />
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