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Dist. Agmt. No. 4-1028-EA <br /> <br />to any lien or claim of lien which ESCROW AGENT claims or may in <br />the future claim against said funds. <br /> <br /> (6) To pay to STATE such progress pa_vments from CITY's <br />deposited funds as are supported by documented billings received <br />from STATE. Said payments shall be made on or before the first <br />business day of each month if STATE has furnished a documented <br />billing on or before the 25th calendar day of the previous month; <br />otherwise, within five business days after receipt of a docu- <br />mented billing from STATE. <br /> <br /> SECTION IV <br /> <br />THE PARTIES HERETO MUTUALLY AGREE THAT: <br /> <br /> (1) CITY may, with STATE's concurrence, withdraw ex- <br />cess funds from the custody of ESCROW AGENT, which concurrence <br />shall not be unreasonably withheld; provided that the require- <br />ments of Section I, Article (2) are always maintained. <br /> <br /> (2) This Escrow Agreement shall terminate after no- <br />tification by STATE of the termination of the Cooperative Agree- <br />ment or completion of PROJECT and final audit by STATE. ESCROW <br />AGENT shall then promptly return to CITY all funds remaining in <br />the escrow account less any PROJECT related costs CITY is obli- <br />gated to pay per the terms of the Cooperative Agreement,,upon re- <br />ceipt of notice from STATE that said remaining funds may be <br />released. STATE shall not unreasonably delay the giving of such <br />notice. <br /> <br /> -5- <br /> <br /> <br />