Laserfiche WebLink
<br />,eNI ~Y:~MH, <br /> <br />;11-~U-~1 ~::;~~M <br /> <br />.:IU ",";1:1 "''1-1,1- <br /> <br />...,'" ........ "T"T".TT , <br /> <br />. <br /> <br />. <br /> <br />520.000 in funds from the Escrow Account for said lease/rental payments, wilh Ihe written consent <br />of the CWCB, Tfthe total of such lease/rentol payments cxce~s $20.000 and/or ifHCWUA mllkes <br />lease/renlal payments other than from the Escrow AccoWlt, Ihen HCWUA shall be entitled to be <br />reimbursed from the Escrow Account for such payments that HCWUA has made oIher than from <br />the Escrow Account, upon close oCth. purchllSc by lICWUA oCthc HCWUA Box Springs Water <br />Riiht as described in paragraph 3.3 hereof. <br /> <br />3.3, Upon receipt of joint notification by an auIhorized officer of each of HCWUA <br />and BOle Springs that Final Court Approval of the HCWUA Plan (as those tenns are defined in the <br />Settlement Agreement) has OCCUlTed and that the applicable conditions, covenants and agreements <br />contained in Ihe Purchase and Sale Agreement havc been fully perfonned and satisfied, Escrow <br />Agent shall: (I) deliver to HCWUA or its assigns the deed or deeds and assignment or assignments <br />to the HCWUA Box Springs Water Right and lhe covenant from Ihe Box Springs Sellers, as <br />described in paragraph I(e) hereof; and (2) wilh the written consent and release of the CWCB, <br />disburse to the Contracting Shareholders or their assigns (inclUding qualified intennediaries under <br />IRC ~ 1031), each pro rata as to theirrespcctive inlerests in Box Springs u set forth in Schedule I, <br />the $504,000 in the Escrow Account less any rental paymenls made Ihererrom after the date of this <br />Escrow Agreement and less the Box Springs Sellers'ponion of escrow fees Bnd cOSIlI. All rental <br />payments and thc Box Springs Sellen' ponion of escrow fees and coSU shall be fully credited <br />against the purchase price of the HCWUA Box Springs Waler Right. <br /> <br />3.4, In thc cvent Escrow Agent receivesjoinl written notilication by an authorized <br />officer of cach of IICWUA and BOll Springs thai the Purchase and Sale Agreement has been <br />tenninatcd, then Escrow Agent shall deliver all funds in the Escrow Account provided by CWCB <br />pursuant to the IICWUAlCWCB Loan Contract directly 10 the C:WCB within five working days of <br />receipt of said notification and rClleliver all f\Jnds In the Interest Accnunt to HCWUA or its assigns, <br />and shall redeliver the deed or dceds and IIlisignment or asslil1Illents of the HCWUA Box Springs <br />Water Right and the covcnant ofthc Box Springs Sellers 10 Box Springs_ <br /> <br />-4- <br />