1982-140 - Laserfiche WebLink

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U delivery of the Bonds shall be held by the Escrowee pending expiration of the Appeal Period, except that the security interest and mortgage lien created by the Loan Agreement, hereinafter defined, and any other security interests created pursuant to other transaction documents, shall be perfected on u December 29, 1982, through filings and/or recordings of necessary documents. If no appeal is taken from the Judgment within the Appeal Period, the Escrowee shall surrender the Bonds to the Purchaser, the transaction documents and opinions to the appropriate parties entitled to the same and the $850,000 purchase price (the "Purchase Price") for the Bonds to the Issuer, on January 4, 1983, at a time and place agreeable to the parties to this Agreement. Any inves.ment income earned on the Purchase Price during the interim period from December 29, 1982, to January 4, 1983, shall be paid to the Proprietor for disposi- tion in accordance with the terms and conditions of the Loan Agreement, Mortgage and Security Agreement, dated December 29, 1982, between the Issuer and the Proprietor (the "Loan Agree- ment"). If an appeal is taken from the Judgment during the Appeal Period, the Escrowee shall redeliver the Bonds to the Issuer, the transaction documents and opinions to the appropriate parties originating the same and the Purchase Price to the Purchaser, and record and/or file appropriate documents to ter- minate the security interests and release the mortgage lien per- fected in accordance with the Loan Agreement and other transaction documents; however, under such circumstances any investment income earned on the Purchase Price during the interim period from December 29, 1982, to the date of filing of the notice of appeal, shall be paid to the Proprietor. Section 2. Appointment of Escrowee. Robert A. Koppen, Attorney at Law, Suite 605, 7900 N. E. 2nd Avenue, Miami, Florida 33138, is hereby appointed Escrowee under this Agreement. He shall receive no compensation for his services as Escrowee here- under, other than as agreed in writing by the parties to this Agreement. All reasonable expenses incurred by the Escrowee under this Agreement shall be paid by the Proprietor. Section 3. Counterparts. This Agreement may be exe- cuted in any number of counterparts, each of which shall be deemed an original, but all of which shall constitute one instrument. Section 4. Governing Law. The provisions of this Agreement shall be construed in accordance with the laws of Florida. EXECUTION -2-