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and to deliver the same to the Purchaser upon payment of the purchase price <br />without further authority from the Board. <br />SECTION 9. The County shall provide for the retirement of the Retired <br />Bonds by depositing with the Escrow Agent (hereafter appointed) under the Escrow <br />Agreement (hereinafter defined) the amounts from the proceeds of the sale of the <br />Bonds and from other funds of the County required to meet the escrow requirements <br />set forth in the verified refunding report to be delivered at the closing on the <br />sale of the Bonds. Said amounts, together with the interest to be earned thereon <br />when invested as provided in the Escrow Agreement, shall be sufficient to provide <br />for the timely payment of the Retired Bonds in the manner and at the times <br />provided in the Resolution and in the Escrow Agreement. <br />SECTION 10. The County shall enter into an Escrow Agreement (the "Escrow <br />Agreement") with First Union National Bank of Florida, Jacksonville, Florida (the <br />"Escrow Agent"), who is hereby appointed, under the terms and provisions of which <br />the Escrow Agent shall hold, invest and apply money deposited with the Escrow <br />{ Agent for the timely payment of the Retired Bonds in the manner and at the times <br />I <br />provided in the Resolution and in the Escrow Agreement. <br />;i SECTION 11. The Escrow Agreement shall be in the form approved by the <br />Chairman or Vice Chairman of the Board prior to the execution thereof, the <br />�,. approval thereof shall be conclusively presumed by the execution thereof by the <br />'> Chairman or Vice Chairman. <br />SECTION 12. The Chairman or Vice Chairman and the Clerk of the Board are <br />authorized and directed to execute and deliver the Escrow Agreement on behalf of <br />the County. <br />SECTION 13. The purchase of a surety bond in connection with the Reserve <br />Account with respect to the Bonds from AMBAC Indemnity Corporation is hereby <br />�` 5 <br />