MEMORANDUM OF AGREEMENT - FPN 256890-2-56-02 MEMORANDUM OF AGREEMENT
THIS AGREEMENT, made and entered into this—__, day of 2010,
by and between the State of Florida, Department of Transportation, hereinafter referred to
as '"F T"` and the State of Florida, Department of Financial Services, Division of Treasury
and (Qry-QLCLQarw&r). hereinafter referred to as the "Participant".
WITNESSETH
WHEREAS FD T" is currently constructing the following project
Financial Project Number: 256890-2-56-02
County., Pinellas
hereinafter referred to as the "Project".
NOTE: ONLY THE NEX1- TVVO PARAGRAPHS MAY BE MODIFIED AS APPROPRIATE
WITHOUT PRIOR APPROVAL OF FDOT'S COMPTROLLER.
WHEREAS, FD OT and the Participant entered into a Locally Funded Agreement
dated January 7, 2010, wherein DOT agreed to perform certain work on behalf of the
Participant in conjunction with the Project.
WHEREAS, the parties to this AGREEMENT mutually agreed that it would be in the
best interest of the FD OT and the Participant to establish an 'interest bearing escrow
account to provide funds for the work performed on the Project on behalf of the Participant
by the FDOT.
NOW THEREFORE, in consideration of the premises and the covenants contained
herein, the parties agree to the following:
1. An initial deposit in the arnount of L$666,
Q00.7Z (Six Hundred its Six
Thousand Dollars and Seventy Two Cents) will be made by the Participant into an interest
bearing escrow account established by the F for the purposes of the project. Said
escrow account will be opened with the Department of Financial Services, Division of
Treasury, Bureau of Collateral Management on behalf of the FD OT upon receipt of this
Memorandum of Agreement. Such account will be an asset of FD T.
2. Other deposits will be made only by the Participant as necessary to cover the
cost of additional work prior to the execution of any Supplemental Agreements.
r ''.ps>;`1 hall ("Etc payable lam_ ;_ :I"I °' �: t f l f" off Im{! �f I Services,:
R,?':v,„]l,ut� Processirig and mailed to he, F-t.Oi Office of Comptr'oller. 1 ar ar)propri to
pr"ot essir ig at- the following address:
Florida Department of TranspottatCon
Office of Comptroller-
605 Suwannee Street
Mail 'station
T allahasseel, Florida 32399
A copy of this Agreement should accompany any deposits& When the check is
mailed t Tallahassee, the District Office should instruct the Participant to mall
the is rict Office a copy of the check.
4. The FDOT's Comptroller and/or her doslgnoes shall be the sole signatories oil
the escrow account with the Department of Financial Services and shall have solo aut"horit
to authorize withdrawals from said account,
Unless instr°uct d otherwise by the patties hereto, all Interest accumulated d ire
the escrow account shall remain in the account for the purposes of the project as defined
in the LFA.
6� The Department of Financial Services agrees to provide written confirmation
of receipt of funds to the FDOT.
The L opart.rliont of Financial Services further agrees to provide Periodic
reports to the FDOT.
;T ATE F FLORIDA STATE OF FLORIDA
DEPARTMENT OF TRANSPORTATION DEPARTMENT OF FINANCIAL SERVICES
C ,IPTROLLER DIVISION OF TREASURY
PA TICIPAI T SIGNATURE
William B. Horne II Cl ,t. Kan a q-fir°
PARTICIPANT NAME & TITLE
t12 S. Osceola Avenue
Ct rm ,ter;.,- .. ---- F r a_.___..... .. �3-7-56
PARTICIPANT ADDRESS
FEDERAL EMPLOYER I U, NUMBER