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Section 2. The Bank shall notify the Town of the balance of moneys in the Escrow Account not more than 60 and not less than 30 days prior to each CWCB Payment Date. The Town shall be pennitted to make supplemental deposits to the Escrow Account on any date. In the event that the amount on deposit on the Escrow Account on the fifteenth day prior to a CWCB Payment Date .is-n.Q1 sufficient to pay (i) the annual installmeilt due on the following CWCB Payment Date and (ii) an amount sufficient to pay in full the aggregate outstanding principal of arid interest to accrue on the CWCB Loan on the CWCB Payment Date in the following calendar year, the Bank is hereby irrevocably directed to pay in full the aggregate outsranding principal of and interest accrued on the CWCB Loan on the following CWCB Payment Date. . In the event that the amount on deposit on the Escrow Account on the fifteenth day prior to a CWCB Payment Date is sufficient to pay (i) the annual installment due on the following CWCB Payment Date and (ii) an amount sufficient to pay in full the aggregate outstanding principal of and interest to accrue on the CWeB Loan on the CWCB Payment Date in the following calendar year, the Bank is hereby irrevocably directed to pay the aru1Ual installment due on the following CWCB Payment Date, Section 3. Upon receipt by' the Bank of a letter of Bond Counsel that the Escrow Account is no longer required to be maintained, the Bank shall, upon the instruction of the Town, be pennitted to remit to the To\\'Il all moneys from the Escrow Account and terminate its obligations l.lnder this Escrow Agreement. - Unless tenninated pursuant to the preceding paragraph, the Bai-Jk shall maintain the Escrow Account until thirty (30) days after the date upon which the CWCB Loan is fully redeemed and paid, as to principal and interest, whereupon the Bank shall redeem any obligations remaining in the Escrow Account and shall remit to the Town all moneys, if any, then remaining in the Escrow Account; provided however, that before such remittance is made to the Town. " " " Section 4. If, for any reason, at any time the funds on hand in the Escrow Account shall be insufficient to meet payments on the CWCB Payment Date as the same shall be about to become due and payable, the Town shall forthwith deposit in the Escrow Account such additional funds as may be required fully to meet the amounts so about to become due and payable. Notice of such insufficiency shall be given as hereinafter provided, but the Bank shall , in no manner be responsible for the To\\u'sfailure to make such deposit. 3 'I: 1. ii:: ',I ~' "\ .' j '! 'I I, '.'1 ; t ~, .!' J~ 1'1'" , ~ :',1 i~ II'~ II j 'II' I:!I !; I. t- ," " I 'Y ~ I ! ~ \'j \~ 1;- ( II ,- I' ,j i !!j "Ii "1\" ilj'l 1,,1, ;.1 j~ j: tJ~ i il~ 'I' kfl~ :,lill ili! i1l 11[' I. l 11.! IIJ, ............- Section 5. The Bank shall hold said special deposit, together with the obligations herein ; authorized to be purchased, at all times in a special fund and trust account, wholly segregated ~,from other funds and securities on deposit with it; shall never commingle such deposit nor ~securities with other funds or. securities of the Bank; shall never at any time use, loan, or borrow ~f; the same in any way; and shall from time to time invest and reinvest said deposit to the fullest i:extent possible, but in all events within the limitations set forth herein, and only in Pennitted f!Investments. Nothing herein contained shall be construed as requiring the Bank to keep on hand c:::~fue identical moneys, or any part thereof, received for the Escrow Account, but moneys of an "k~~'qual amount, except to the extent such ar7 re?resented by the Permitted Investments contained '''r;~ the Escrow Account, must always be mamtamed on hand as funds held by the Bank as trustee, ;"!fil!'~d a special account thereof, evidencing such fact, shall at all times be maintained on the books -"'f the Bank.