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CWCB Escrow Agreement
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CWCB Escrow Agreement
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Last modified
10/14/2016 11:20:02 AM
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10/3/2016 12:25:15 PM
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Chatfield Mitigation
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a. suspend the performance of any of its obligations(including without <br /> limitation any transfer or disbursement obligations)under this Escrow Agreement until <br /> such dispute or uncertainty shall be resolved to the sole satisfaction of Escrow Agent or <br /> until a successor Escrow Agent shall have been appointed. <br /> b. petition(by means of an interpleader action or any other appropriate <br /> method)any court of competent jurisdiction, in any venue convenient to Escrow Agent, <br /> for instructions with respect to such dispute or uncertainty,and to the extent required or <br /> permitted by law,pay into such court, for holding and disposition in accordance with the <br /> instructions of such court,all Escrow Funds,after deduction and payment to Escrow <br /> Agent of all fees and expenses(including court costs and attorneys'fees)payable to, <br /> incurred by,or expected to be incurred by Escrow Agent in connection with the <br /> performance of its duties and the exercise of its rights hereunder. <br /> Escrow Agent shall have no liability to Depositor,CRMC or the Representatives,their respective <br /> owners, shareholders or members or any other person with respect to any such suspension of <br /> performance or disbursement into court, specifically including any liability or claimed liability <br /> that may arise,or be alleged to have arisen,out of or as a result of any delay in the disbursement <br /> of the Escrow Funds or any delay in or with respect to any other action required or requested of <br /> Escrow Agent. <br /> 6. [reserved] <br /> 7. Investment of Funds in Depositor's Individual Escrow Account. Based upon <br /> Depositor's prior review of investment alternatives, in the absence of further specific written <br /> direction to the contrary,the Escrow Agent is directed to initially invest and reinvest the Escrow <br /> Funds in Depositor's Individual Escrow Account in the investment indicated on Schedule B <br /> hereto Depositor may provide written instructions changing the investment of the Escrow Funds <br /> in Depositor's Individual Escrow Account to the Escrow Agent;provided,however,that(i) <br /> Depositor warrants that it will direct the Escrow Agent to invest or reinvest only in lawful <br /> investments under Section 24-75-601.1, C.R.S.,and(ii)the Escrow Agent will not be directed to <br /> invest in investments that the Escrow Agent in its sole discretion determines are not consistent <br /> with the Escrow Agent's policy or practices. Depositor acknowledges that the Escrow Agent <br /> does not have a duty nor will it undertake any duty to provide investment advice or to monitor <br /> Depositor's compliance with Section 24-75-601.1,C.R.S. Depositor acknowledges that it has <br /> received from the Escrow Agent a current copy of the prospectus for the investment it has <br /> authorized in Schedule B,prior to providing such authorization. <br /> If Escrow Agent has not received a written instruction from Depositor at any time that an <br /> investment decision must be made, Escrow Agent is directed to invest the Escrow Funds in <br /> Depositor's Individual Escrow Account,or such portion thereof as to which no written <br /> investment instruction has been received, in the investment indicated on Schedule B hereto. All <br /> investments shall be made in the name of Escrow Agent for the benefit of Depositor. <br /> Notwithstanding anything to the contrary contained herein, Escrow Agent may,without notice to <br /> Depositor, sell or liquidate any of the foregoing investments at any time for any disbursement of <br /> Escrow Funds permitted or required hereunder. All investment earnings shall become part of the <br /> 4 <br />
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