Common use of Deposit of Payment Clause in Contracts

Deposit of Payment. [Insert one of the following three sentences.] [The total amount [if installment payments, insert: of each payment] to be paid pursuant to Paragraph 12 (Payment of Response Costs) [and Paragraph 16 (Payment of Net Proceeds of Sale of Property)] shall be deposited by EPA in the EPA Hazardous Substance Superfund.] [The total amount [of each payment] to be paid pursuant to Paragraph 12 (Payment of Response Costs) [and Paragraph 16 (Payment of Net Proceeds of Sale of Property)] shall be deposited by EPA in the [Site name] Special Account to be retained and used to conduct or finance response actions at or in connection with the Site, or to be transferred by EPA to the EPA Hazardous Substance Superfund.] [Of the total amount [of each payment] to be paid pursuant to Paragraph 12 (Payment of Response Costs) [and Paragraph 16 (Payment of Net Proceeds of Sale of Property)], [“$___” or “___%”] shall be deposited by EPA in the EPA Hazardous Substance Superfund and [“$___” or “___%”] shall be deposited by EPA in the [Site name] Special Account to be retained and used to conduct or finance response actions at or in connection with the Site, or to be transferred by EPA to the EPA Hazardous Substance Superfund.]