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r <br />TDC:aaa 11m100 <br />The escrow instructions shall provide that the City may withdraw funds from the Escrow <br />Account, excluding the interest thereof, in accordance with this Agreement and the escrow instructions, to <br />be used exclusively for payment to the City's constriction contractor for performing approved contract work <br />involving the insulation. Costs of the escrow shall be paid from the funds, excluding the interest therefrom <br />in the Escrow Account. The Port may withdraw accumulated interest in the Escrow Account, in excess of <br />the escrow costs, at any time at its sole and absolute discretion. The City and the Port each agree <br />reasonably to cooperate in establishing a mutually - acceptable escrow account and in entering into a <br />mutually- acceptable escrow agreement with the escrow holder in accordance with this Agreement. <br />The City may withdraw the funds in the Escrow Account as follows: <br />i) The Port and the City shall meet and confer to determine the form and type of <br />information to be included in each request for withdrawal of funds. The contents of each request shall <br />include the total contract price for the noise insulation work, the total amount previously paid against such <br />price, the total withdrawn from the Escrow Account and the amount currently requested to be withdrawn, <br />and such other and additional infornation•as reasonably may be requested in order to provide each party <br />with sufficient information to assure that money withdrawn from the Escrow Account is for payments due to <br />the contractor for noise insulation work actually performed in accordance with the terms and conditions of <br />the contract and this Agreement. <br />ii)The City shall submit to the escrow holder a written request in the agreed -upon <br />form for withdrawal of the funds due under the insulation contract and, at the same time, the City shall <br />provide to the Port a copy of such written request. The written request shall contain a signed certification <br />City of San Leandro and Port of Oakland <br />Settlement Agreement Page 10 <br />29848__—