escrow agreement

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1、(*1)STATEREVOLVINGFUNDLOANESCROWAGREEMENTTHISESCROWAGREEMENTismadethis_______dayof______________betweenthe(*1)(hereinafterreferredtoasthe"Borrower")and______________________________________________________________________,adepositoryauthorizedtotransactbusinessintheStateofFlorida(her

2、einafterreferredtoasthe"Depository").TheBorrowershallpaytheDepository,foritsserviceshereunder,feesasfollows:________________________________________________________________________________________________________________________________________________________________________________

3、____________________________________________________________________________TheBorrowerandtheDepositoryagreeasfollows:ArticleI-ScopeofEscrowAgreement1.TheBorrowershallestablishandmaintaintwoaccountswiththeDepository.TheseaccountsshallbetheLoanDebtServiceAccountandtheLoanRepaymentRese

4、rveAccount.Theaccountsshallbemaintainedseparatelyasdescribedherein.1.Wordsandtermsusedhereinshallhavethefollowingmeanings:(a)"Agreement"or"LoanAgreement"shallmeantheagreementbetweentheDepartmentandtheBorrowerestablishingthetermsoftheLoan,includingprovisionsforrepayment.(b)"Department

5、"shallmeantheDepartmentofEnvironmentalProtection.(c)“EscrowAgreement”shallmeanthisagreementfortheestablishmentandmaintenanceofaccountsbetweentheBorrowerandtheDepository.(d)"Loan"shallmeantheamountofmoneytobeloanedpursuanttotheLoanAgreementandsubsequentamendments.(e)"LoanDebtServiceAc

6、count"shallmeantheescrowedaccountintowhichmonthlydepositsaretobemadebytheBorrowerforthepurposeofmakingSemiannualLoanPayments.(f)"LoanRepaymentReserveAccount"shallmeantheescrowedaccountintowhichwillbedepositedtheamountsetasidetopaytemporaryandunexpecteddeficiencies,ifany,intheSemiannu

7、alLoanPayment.(g)“MonthlyLoanDeposit”shallmeanthemonthlydeposittobemadebytheBorrowertotheLoanDebtServiceAccount.(h)"SemiannualLoanPayment"shallmeanthepaymentdueundertheLoanAgreementfromtheBorrowertotheDepartmentatsix-monthintervals,anditiscomprisedofprincipalandinterest.2.ThisEscrowA

8、greementmayb