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Escrow Funds or any portion thereof when required by this Escrow Agreement; or (d) any matters beyond the direct and exclusive control of Escrow Agent. By execution of this Escrow Agreement, the parties acknowledge that they are aware that the FDIC coverage applies only to a cumulative maximum amount of $ 100,000 for each individual depositor for all of depositor' s accounts at the same, or related, institution. Buyer and Seller understand and agree that Escrow Agent assumes no responsibility for, nor will be held liable for, any loss arising from the fact that the amount of the above account may cause the aggregate amount of any individual depositors to exceed $ 100,000 and that any excess amount is not insured by FDIC. Said parties further understand that FDIC insurance is not available on certain types of bank instruments, including, but not limited to, repurchase agreements, letters of credit, and other instruments. 4. Disbursement of Escrow Funds . Escrow Agent shall hold the Escrow Funds until such time as they can be disbursed for payment as follows: (a) On behalf of Buyer, KHA conducted a Phase I Environmental Site Assessment, and also an Expanded Phase II Environmental Site Assessment, dated October 9, 2006 ("KHA Phase II") . The KHA Phase II identified limited soil and groundwater impacts requiring remediation as described in the KHA Phase II. The KHA Phase 11 also provided a cost estimate for such remediation. (b) The parties acknowledge there may be various alternative assessment and remediation approaches, any of which may be approved by the Florida Department of Environmental Protection ("FDEP") . Seller shall have the option of determining which alternative assessment and remediation approach to utilize , provided that the assessment and remediation approach selected shall be approved by FDEP, and by Buyer, provided Buyer' s approval shall not be unreasonably withheld. Seller shall notify Buyer of its choice of approach and Seller shall provide Buyer a copy of the scope of work prior to commencement of work; however, failure to do so shall not constitute a material breach of this Agreement. The parties acknowledge that this may include a No Further Action ("NFA") proposal approved by FDEP limited to specific contaminants at specific locations. The parties further acknowledge that an NFA "with conditions", such as engineering controls or deed restrictions may be a satisfactory remedial objective provided it has FDEP approval . The parties further acknowledge that an NFA may not be accepted by FDEP and that additional remediation may be required, in which event such additional remediation shall be performed in accordance with this Escrow Agreement up to the amount of the escrowed funds. (c) Notwithstanding which alternative for remediation and site assessment is selected, Seller' s obligation shall be limited to the Escrow Funds. Seller shall have the option to select the contractor to perform the FDEP approved site assessment and remediation described in the KHA Phase II. The Seller ' s selection of contractor shall be subject to approval by the Buyer, which approval shall not be unreasonably withheld . Seller shall not be responsible for site assessment or remediation not described in the KHA Phase II or any new or other site contaminants not described in the KHA Phase Il . 2