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September 1997 <br /> Page 5. <br /> have to agree that X number of dollars is going to be put up each year. if one <br /> does not, what happens to the project? He would life to see that the others <br /> have to put the money in an go after whomever has not. <br /> Mr. Hamilton asked, suppose everyone but one guy defaults? One guy cannot <br /> carry it. Money would go in day one, after the Order of Conditions. <br /> Mr. Sherman stated assurance is needed that work will not stmt until the <br /> first year escrow account is set up.. <br /> fir. Rosenberg stated, in the bottom paragraph where the owner has an <br /> option, that is not going to work. Mr. Hamilton stated it was written that way <br /> for fleidbility. He can make it more specific. W. Rosenberg stated if there i <br /> to be an escrow account, in order to preserve that area it should be done in a <br /> uniform manner and not having each one decide how to do it. They have to <br /> start the fund now and nourish every year or two years so there is money i <br /> there for it to be done, that the whole 360 feet will be done. <br /> 1r. Manton will revise the language; they need to do the same thing and put <br /> money in escrow. Mr. Rosenberg stated they should put the money in escrow <br /> and thea decide when to nourish the beach depending on the probe. <br /> Aft. Desrosiers stated they should have costs up front for two years of <br /> profiling. <br /> M . Hamilton stated they hope to pint more sand on the beach than anyone <br /> would do in 30 years. <br /> Mr. Sherman stated they should deposit up front and annually into the escrow <br /> for the nouris ment and profiles. suggested Mr. Hamilton redraft this and <br /> set up a conference call with Rebecca Haney, Jim M hala, Norman Hayes and <br /> he. <br /> Mr. Hamilton stated. Nirenberg is going to apply for an amended order- to <br /> become part of it.- <br /> Mr. <br /> t:Mr. Rosenberg reiterated this must be centarahy run and managed.. <br /> Mr. Sherman stated the Woods Hole Group would be the ongoing consultants <br /> and give annual reports and if defaults take place. The Commission would <br /> errant to be notified immediately with threshold dates. He will draft the Order <br /> of Conditions for the day after the next meeting. He would just reference the <br /> dated version for the Order of Conditions. <br />