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evidenced by a recorded Satisfaction of Noztgage. u xell as any sums xhich may
be payable hessuades. this Assignment sad Bscrox Agreement shall become
null and void end of no further force and effect and. in that event. upon the
request of Borrower. the Leader agrees tD execute and deliver to Borrower
instruments sufficient to evidence the termination of this Assignment and/or
the reassignment tD the Horroxez of the rights. poxer and authority granted
herein: provided hoxever. that as tD any Purchaser under a Contract or to
the escrow agent as hereioeitar described, any affidavit. certificate or -other
written statement of any officer of the Lender. stating that any part of said
indebtedness remains unpaid. shall be and constitute conclusive evidence of
the then validity. effectiveness and continuing force of this Assignment and
any person. firm or corporation receiving any such affidavit. certificate or
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10. During the farm of the Loan all Collateral shall be placed in escrow
with the Lender . in accordance xith the following terms and conditions: (a) Sim-
ultaneously with the execution of this Agreement. the Borroxer shall assign and
deposit with the Lender all 20~ Deposits and copies of all contracts relating thereto.
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together with the address of the Purchasers named thereunder. Henceforth. the
Borrower shall cause all 20~k Deposits to be made payable to and delivered to
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the Lender in escrow. and- further. Ba~rmwer. shall cause to be delivered there-
~ with as executed copy of the applicable Contract do the Lender together -with the
address of the Purchaser. (b) The use $.nd disbursement of all 20~ Deposits
shall be subject to such rights as Purchasers may have under Contracts or
under applicable provisions of the Florida Condominium Act. Chapter 718.
Florida Statutes. (c) The 20~ Deposits, subject to the provisions of the Florida
Condominium Act. shall be held in escrox by ffie Lender in accounts of Lender. ~
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The Lender shall keep records of the 20~ Deposits. including the receipt and
~ the disbursement thereof. and shall furnish tD the Borrower accountings on a
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monthly basis . (d) So long as the Borroxer shall not be in default under the
terms and conditions of this Agreement and the other Loan Documents, all
withdrawals or--disbursements. or other disposition of said 20~k Deposits shall
be made only upon instructions signed by both eorroxer and Lender: provided.
~ ~~~315 P~1647
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