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5.03 The Escrow Agent may appoint an agent to exercise any of the powers, rights or remedies granted to the Escrow Agent under this Agreement, to hold title to property or to take any other action which may be desirable or necessary hereunder. Section 6. Administrative Provisions. 6.01 The Escrow Agent shall keep complete and accurate records of all money received and disbursed under this Agreement. which shall.be available for inspection by Lessee or Lessor, or the agent of either of them, at any time during regular business hours. 6.02 All written notices to be given under this Agreement shall be given by mail to the party entitled thereto at its address set forth below, or at such address as the party may provide to the other parties hereto in writing from time to time. Any such notice shall be deemed to have been received three (3) days after deposit in the United States mail, with postage fully prepaid. 6.03 This Agreement shall be construed and governed in accordance with the laws of the State of Lessee. 6.04 Any provision of this Agreement found to be prohibited by law shall be ineffective only to the extent of such prohibition, and shall not invalidate the remainder of this Agreement. 6.05 This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns. Specifically, the term "Lessor" as used herein means any person or entity to whom Lessor has assigned its right to receive Rent Payments under the Lease and any other payments due to Lessor hereunder from and after the date when a written notice of such assignment is filed with the Escrow Agent. 6.06 This Agreement may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same Agreement. 6.07 This Agreement shall terminate upon disbursement by the Escrow Agent of all money held by it hereunder. Section 7. Escrow Aaent Fees. As compensation for Escrow Agent's services hereunder, Lessee and/or Lessor agrees to pay Escrow Agent its fees and expenses in accordance with Exhibit A. Lessee authorizes Escrow Agent either to deduct said service fee from the interest and earnings otherwise payable to Lessee under this Agreement or to bill and collect said service fee at the Funding Expiration Date. In addition, Lessee agrees to reimburse Escrow Agent for its reasonable out-of-pocket costs and expenses for performing its obligations hereunder and to pay all other amounts expressly due and payable to Escrow Agent hereunder. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above. Bank One Trust Company, NA ("Escrow Agent") By: 100 East Broad Street, OH1-0181 Title: Columbus, Ohio 43215 Banc One Leasing Corporalion ("Lessor") By: 1111 Polaris Parkway, Suite A3 Title: Columbus, Ohio 43240 City of San Marcos ("Lessee") By ~_/~~ 630 E. Hopkins Title: CITY MARAGER San Marcos. Texas 78666 I ESCAGR2 01 (4/26/95) Page 4