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contracted with in connection with the property. Title shall promptly notify the Lender of its inability with respect to any Disbursement Request to obtain waivers, releases or satisfactions. Upon receipt of any such notice, the Lender shall be entitled, but not obligated, to revoke its approval of such Disbursement Request. 5. Title agrees to act as the disbursing agent under this Agreement and shall account for all funds deposited with it and shall immediately return to the Lender all undisbursed Loan Proceeds from each Disbursement Request. Title agrees not to use, invest or collect interest on any Loan Proceeds held by Title. 6. If at any time during the course of construction, the total of the unpaid disclosed LCDA Project Costs, as indicated by the column totals on the sworn Project Cost statement presented to Title, exceeds the amount of the aggregate undisbursed Loan Proceeds and the Other Project Financing, as calculated by subtracting the total amount of liability on the Project Cost Statement as described in the Loan Agreement from the amount of such grants and loans, Title shall not make further disbursements of the Loan Proceeds under the terms of this Agreement until Borrower has deposited with Title the sum necessary to make the available funds equal to the unpaid disclosed cost of construction, or unless specifically directed to do so by the Lender. 7. Title may rely on the statements made by Borrower, the Lender or others in any documents submitted to it under this Agreement and shall not be required to verify the accuracy of such statements and shall not be liable for any disbursements of funds made in reliance on any such statement, unless Title is negligent with respect thereto. 8. Borrower agrees to indemnify and hold harmless Title and the Lender from any and all claims, demands or costs associated with the disbursement of the Loan Proceeds, including reasonable attorney's fees arising therefrom. 9. The functions and duties of Title include only those set forth in this Agreement and it is not entitled to act and shall not act, except in accordance with the terms and conditions of this Agreement. Title does not insure that the improvements will be completed, nor does it insure that the improvements will be in accordance with plans and specifications, nor does it make any certifications of the Inspecting Architect its own, nor does it assume any liability for same other than procurement as one of the conditions precedent to each disbursement, Title has no liability for loss caused by an error in the certifications furnished it hereunder as to work in place. Title shall not be responsible for any loss of documents or funds while such documents or funds are not in its custody. Documents or funds that are deposited in the United States mail shall not be construed as being in the custody of Title. 10. This Disbursement Agreement shall be in full force and effect, from the date of this Agreement and shall remain in effect until all of the Loan Proceeds shall have been disbursed in accordance with the terms hereof; provided, however, that in the event the Loan Agreement is terminated, this Agreement is thereby terminated and Title shall return to the Lender any Loan Proceeds it holds, upon notification by the Lender of such termination. 11. This Agreement shall inure to the benefit of and be binding upon the parties and their respective successors and permitted assigns. 12. This Agreement shall be governed by and construed in accordance with the laws of the State of Minnesota.