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4 <br /> <br /> <br />4. Escrow Agent’s charges for all of the escrow services to be provided pursuant to this <br />Agreement are $150.00 per draw. <br /> <br />5. No draw requests shall be made by Developer while another is pending or in the event <br />the City has declared default under theGrading Agreement. <br /> <br />6. At the time of submission of the final Draw Request, which shall not be submitted <br />before completion of the improvements required by the Grading Contract, Developer <br />shall submit to City, Bank and Escrow Agent, in addition to the requirements listed in <br />Paragraph 3 above the following and the following must be approved by the Bank prior <br />to disbursements of funds: <br /> <br />a. A written lien waiver from all Contractors for work done and materials furnished <br />for the Project. <br /> <br />b. Such other supporting evidence as may be reasonably requested by the City or <br />Escrow Agent to substantiate all payments, which are to be made out of the final <br />Draw Request and/or to substantiate all payments, then made with respect to <br />the Project. <br /> <br />c. Satisfactory evidence that all work requiring inspection by Governmental <br />Authorities having jurisdiction, including the City, has been duly inspected and <br />approved by such authorities and that all requisite certificates of occupancy, if <br />applicable, and other approvals have been issued. <br /> <br />d. Final Sworn Construction Statement. <br /> <br /> <br />7. Not later than five business days following receipt of the documents delivered to it <br />pursuant to the above paragraphs, the Escrow Agent will notify in writing the City and <br />the Bank as to whether the delivered documents are satisfactory to it. If documents are <br />missing, the Escrow Agent will advise City, the Bank and Developer. If the documents <br />are supplied to the full satisfaction of the City, the Bank and Escrow Agent, Escrow <br />Agent will within 3 business days disburse the Escrowed Funds to the contractors <br />entitled thereto in the amount applied for in the relevant draw request. <br /> <br />8. Developer will pay parties identified in the relevant draw request, the amounts shown <br />therein. Payment will only be made upon receipt of signed lien waivers for the amount <br />requested. <br /> <br />9. The Escrow Agent will keep and maintain books and records in sufficient detail to reflect <br />the disbursements made by it hereunder. City, the Bank and Developer may, during <br />normal business hours, examine the books and records of Escrow Agent pertaining to