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17.61, Florida Statutes. The Escrow Agent will invest the moneys <br />expeditiously. Income is only earned on the moneys while invested. There <br />is no guaranteed rate of return. Investments in the escrow account will be <br />assessed a fee in accordance with Section 17.61(4)(b), Florida Statutes. All <br />income of the investments shall accrue to the escrow account. <br />6. Unless instructed otherwise by the DEPARTMENT, all interest accumulated <br />in the escrow account shall remain in the account for the purposes of the <br />Project. <br />7. The Escrow Agent agrees to provide written confirmation of receipt of funds <br />to the DEPARTMENT. The DEPARTMENT agrees to provide a copy of <br />such written confirmation to the LOCAL GOVERNMENT upon request. <br />8. The Escrow Agent further agrees to provide quarterly reports to the <br />DEPARTMENT concerning the escrow account. The DEPARTMENT <br />agrees to provide a copy of such quarterly reports to the LOCAL <br />GOVERNMENT upon request. <br />9. The Escrow Agent shall not be liable for any error of judgment or for any act <br />done or omitted by it in good faith, or for anything which it may in good faith <br />do or refrain from doing in connection herewith. <br />10. Escrow Agent shall have no liability for any claim, cost, expense, damage <br />or loss due to the acts or omissions of the DEPARTMENT and the LOCAL <br />GOVERNMENT, nor from any separate agreements between the <br />DEPARTMENT and the LOCAL GOVERNMENT and shall have no <br />responsibility to monitor or enforce any responsibilities herein or in any <br />separate agreements associated with this Agreement between the <br />DEPARTMENT and the LOCAL GOVERNMENT. <br />11. This Agreement shall be governed by and interpreted in accordance with <br />the laws of the State of Florida. <br />12. This Agreement may be executed in two or more counterparts, each of <br />which shall be deemed an original, but all of which together shall constitute <br />one and the same instrument. <br />13. This Agreement shall terminate upon disbursement by the Escrow Agent of <br />all money held by it in the escrow account in accordance with the <br />instructions given by the DEPARTMENT'S Comptroller or designee and <br />notification from the DEPARTMENT to Escrow Agent that the account is to <br />be closed. <br />The remainder of this page is blank. <br />