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Dist. Agmt. No. 4-1041-E~. <br /> <br /> (3) CITY is the beneficial owner of all funds hel~ by <br /> ESCROW AGENT and CITY is entitled to receive any and all interest <br /> which may accrue thereon. <br /> <br /> ~4) CITY agrees to pay directly to ESCROW AGENT all <br /> fees, expenses and charges for services rendered. <br /> <br /> (5) All charges by ESCROW AGENT are to be billed to <br /> the CITY. At no time will charges be applied to CITY's deposited <br /> funds i~ this escrow. <br /> <br /> (6) This Escrow Agreement shall be binding upon and <br /> <br /> shall inure to the benefit of the successors and assigns of the <br /> parties hereto. <br /> <br /> (7) The parties hereto recognize and agree that sepa- <br />rate counterpart signature pages may be used but that all such <br />pages shall constitute one and the same agreement. <br /> <br />DATED: <br /> <br />STATE OF CALIFORNIA BANK OF AMERICA <br />Department of Transportation <br />LEO J. TROMBATORE <br />Director of Transportation <br /> B~ <br /> Escrow Agent <br /> <br />By Attest: <br /> Deputy District Director Notary Public <br /> <br />APPROVED AS TO FORM AND PROCEDURE <br /> <br /> Attorney <br />Department of Transporta~ioD <br /> <br /> <br />