Common use of Deposits into Escrow Clause in Contracts

Deposits into Escrow. a. The account records of the Escrow Agent shall provide that the funds in the escrow account are held for the benefit of the Subscriber(s) named and identified in accordance the records of the Escrow Agent, maintained in good faith and in the regular course of business, and they shall show the name and interest of each party to the account. b. Upon receipt by Selling Security Holders of any Cash Investment Instrument for the purchase of Shares, Selling Security Holders shall forward to Escrow Agent, by 12:00 noon of the next business day, the Cash Investment Instrument for deposit into the following escrow account: First Union National Bank Charlotte, North Carolina ABA # 053000219 D/ 5000000000000 FFC: (*TBD) Attn: CT BR#4850 Each such deposit shall be accompanied by the following documents: (1) a report containing such Subscriber's name, social security number or taxpayer identification number, address and other information required for withholding purposes; (2) a Subscription Accounting; and (3) instructions regarding the investment of such deposited funds in accordance with Section 6 hereof ALL FUNDS SO DEPOSITED AND INTEREST OR DIVIDENDS THEREON, IF ANY, SHALL BE HELD FOR THE SOLE BENEFIT OF AND SHALL REMAIN THE PROPERTY OF THE SUBSCRIBERS ACCORDING TO THEIR RESPECTIVE INTERESTS AND SHALL NOT BE SUBJECT TO ANY LIEN OR CHARGE BY ESCROW AGENT OR BY JUDGMENT OR CREDITORS' CLAIMS AGAINST VILLAGE XIII ACQUISITION CORP. UNTIL RELEASED TO VILLAGE XIII ACQUISITION CORP. IN ACCORDANCE WITH SECTION 4(a) HEREOF. c. Selling Security Holders understand and agree that all checks and similar instruments received by Escrow Agent hereunder are subject to collection requirements of presentment and final payment, and that the funds represented thereby cannot be drawn upon or disbursed until such time as final payment has been made and is no longer subject to dishonor. Upon receipt, Escrow Agent shall process each Cash Investment Instrument for collection, and the proceeds thereof shall be held as part of the Escrow Funds until disbursed in accordance with Section 4 hereof. If, upon presentment for payment, any Cash Investment Instrument is dishonored, Escrow Agent's sole obligation shall be to notify Principal and Selling Security Holders of such dishonor and to return such Cash Investment Instrument to Selling Security Holders to take whatever action it deems necessary. Notwithstanding the foregoing, if for any reason any Cash Investment Instrument is uncollectible after payment of the funds represented thereby has been made by Escrow Agent, Village XIII Acquisition Co., Inc. shall immediately reimburse Escrow Agent upon receipt from Escrow Agent of written notice thereof. Upon receipt of any Cash Investment Instrument that represents payment less than or greater than the Cash Investment, Escrow Agent's sole obligation shall be to notify the Selling Security Holders of such fact and to return such Cash Investment Instrument to the Subscriber. d. All Cash Investment Instruments shall be made payable to the order of, or endorsed to the order of, "First Union National Bank/Village XIII Acquisition Co., Inc. - Escrow Account, " and Escrow Agent shall not be obligated to accept, or present for payment, any Cash Investment Instrument that is not payable or endorsed in that manner.

Deposits into Escrow. a. The account records of the Escrow Agent shall provide that the funds in the escrow account are held for the benefit of the Subscriber(s) named and identified in accordance the records of the Escrow Agent, maintained in good faith and in the regular course of business, and they shall show the name and interest of each party to the account. b. Upon receipt by Selling Security Holders Escrow Agent of any Cash Investment Instrument for the purchase of SharesDebentures, Selling Security Holders Escrow Agent shall forward to Escrow Agent, by 12:00 noon of the next business day, deposit the Cash Investment Instrument for deposit into the following escrow account: First Union National SunTrust Bank CharlotteTampa, North Carolina FL ABA # 053000219 D/ 5000000000000 ____________ _____________________________ FFC: (*TBD*) AttnATTN: CT BR#4850 _______________________ Each such deposit shall be accompanied by the following documents: (1) a report containing such Subscriber's name, social security number or taxpayer identification number, address and other information required for withholding purposes; (2) a Subscription Accounting; and (3) instructions regarding the investment of such deposited funds in accordance with Section 6 hereof hereof. ALL FUNDS SO DEPOSITED AND INTEREST OR DIVIDENDS THEREON, IF ANY, SHALL BE HELD FOR THE SOLE BENEFIT OF AND SHALL REMAIN THE PROPERTY OF THE SUBSCRIBERS ACCORDING TO THEIR RESPECTIVE INTERESTS AND SHALL NOT BE SUBJECT TO ANY LIEN OR CHARGE BY ESCROW AGENT OR BY JUDGMENT OR CREDITORS' CLAIMS AGAINST VILLAGE XIII ACQUISITION CORP. COMPANY UNTIL RELEASED TO VILLAGE XIII ACQUISITION CORP. COMPANY IN ACCORDANCE WITH SECTION 4(a) HEREOF. c. Selling Security Holders understand b. Company understands and agree agrees that all checks and similar instruments received by Escrow Agent hereunder are subject to collection requirements of presentment and final payment, and that the funds represented thereby cannot be drawn upon or disbursed until such time as final payment has been made and is no longer subject to dishonor. Upon receipt, Escrow Agent shall process each Cash Investment Instrument for collection, and the proceeds thereof shall be held as part of the Escrow Funds until disbursed in accordance with Section 4 hereof. If, upon presentment for payment, any Cash Investment Instrument is dishonored, Escrow Agent's sole obligation shall be to notify Principal and Selling Security Holders Company of such dishonor and to return forward such Cash Investment Instrument to Selling Security Holders Company to take whatever action it deems necessary. Notwithstanding the foregoing, if for any reason any Cash Investment Instrument is uncollectible after payment of the funds represented thereby has been made by Escrow Agent, Village XIII Acquisition Co., Inc. Company shall immediately reimburse Escrow Agent upon receipt from Escrow Agent of written notice thereof. Upon receipt of any Cash Investment Instrument that represents payment less than or greater than the Cash Investment, Escrow Agent's sole obligation shall be to notify the Selling Security Holders Company of such fact and to return such Cash Investment Instrument to the Subscriber. d. c. All Cash Investment Instruments shall be made payable to the order of, or endorsed to the order of, "First Union National Bank/Village XIII Acquisition Co., Inc. - Escrow Account, ," and Escrow Agent shall not be obligated to accept, or present for payment, any Cash Investment Instrument that is not payable or endorsed in that manner.

Deposits into Escrow. a. The account records of the Escrow Agent shall provide that the funds in the escrow account are held for the benefit of the Subscriber(s) named and identified in accordance the records of the Escrow Agent, maintained in good faith and in the regular course of business, and they shall show the name and interest of each party to the account. b. Upon receipt by Selling Security Holders of any Cash Investment Instrument for the purchase of Shares, Selling Security Holders shall forward to Escrow Agent, by 12:00 noon of the next business day, the Cash Investment Instrument for deposit into the following escrow account: First Union National Bank Charlotte, North Carolina ABA # 053000219 D/ 5000000000000 FFC: (*TBD) Attn: CT BR#4850 Each such deposit shall be accompanied by the following documents: (1) a report containing such Subscriber's name, social security number or taxpayer identification number, address and other information required for withholding purposes; (2) a Subscription Accounting; and (3) instructions regarding the investment of such deposited funds in accordance with Section 6 hereof ALL FUNDS SO DEPOSITED AND INTEREST OR DIVIDENDS THEREON, IF ANY, SHALL BE HELD FOR THE SOLE BENEFIT OF AND SHALL REMAIN THE PROPERTY OF THE SUBSCRIBERS ACCORDING TO THEIR RESPECTIVE INTERESTS AND SHALL NOT BE SUBJECT TO ANY LIEN OR CHARGE BY ESCROW AGENT OR BY JUDGMENT OR CREDITORS' CLAIMS AGAINST VILLAGE XIII XIIII ACQUISITION CORP. UNTIL RELEASED TO VILLAGE XIII XIIII ACQUISITION CORP. IN ACCORDANCE WITH SECTION 4(a) HEREOF. c. Selling Security Holders understand and agree that all checks and similar instruments received by Escrow Agent hereunder are subject to collection requirements of presentment and final payment, and that the funds represented thereby cannot be drawn upon or disbursed until such time as final payment has been made and is no longer subject to dishonor. Upon receipt, Escrow Agent shall process each Cash Investment Instrument for collection, and the proceeds thereof shall be held as part of the Escrow Funds until disbursed in accordance with Section 4 hereof. If, upon presentment for payment, any Cash Investment Instrument is dishonored, Escrow Agent's sole obligation shall be to notify Principal and Selling Security Holders of such dishonor and to return such Cash Investment Instrument to Selling Security Holders to take whatever action it deems necessary. Notwithstanding the foregoing, if for any reason any Cash Investment Instrument is uncollectible after payment of the funds represented thereby has been made by Escrow Agent, Village XIII XIIII Acquisition Co., Inc. shall immediately reimburse Escrow Agent upon receipt from Escrow Agent of written notice thereof. Upon receipt of any Cash Investment Instrument that represents payment less than or greater than the Cash Investment, Escrow Agent's sole obligation shall be to notify the Selling Security Holders of such fact and to return such Cash Investment Instrument to the Subscriber. d. All Cash Investment Instruments shall be made payable to the order of, or endorsed to the order of, "First Union National Bank/Village XIII XIIII Acquisition Co., Inc. - Escrow Account, " and Escrow Agent shall not be obligated to accept, or present for payment, any Cash Investment Instrument that is not payable or endorsed in that manner.

Deposits into Escrow. a. The account records of the Escrow Agent shall provide that the funds in the escrow account are held for the benefit of the Subscriber(s) named and identified in accordance the records of the Escrow Agent, maintained in good faith and in the regular course of business, and they shall show the name and interest of each party to the account. b. Upon receipt by Selling Security Holders Sales Agent or Issuer of any --------------------- Cash Investment Instrument for the purchase of Shares, Selling Security Holders Sales Agent or Issuer shall forward to Escrow Agent, by 12:00 noon of the next business day, the Cash Investment Instrument for deposit into the following escrow account: First Union National Citizens Bank CharlotteRaleigh, North Carolina ABA # 053000219 D/ 5000000000000 ___________ FFC: _____________ ATTN: _____________ for Weststar Financial Services Corporation Escrow Account Notify (*TBD919) Attn: CT BR#4850 ________ Each such deposit shall be accompanied by the following documents: (1) a report containing such Subscriber's name, social security number or taxpayer identification number, address and other information required for withholding purposes;; and (2) a Subscription Accounting; and (3) instructions regarding the investment of such deposited funds in accordance with Section 6 hereof . ALL FUNDS SO DEPOSITED AND INTEREST OR DIVIDENDS THEREON, IF ANY, SHALL BE HELD FOR THE SOLE BENEFIT OF AND SHALL REMAIN THE PROPERTY OF THE SUBSCRIBERS ACCORDING TO THEIR RESPECTIVE INTERESTS AND SHALL NOT BE SUBJECT TO ANY LIEN OR CHARGE BY ESCROW AGENT OR BY JUDGMENT OR CREDITORS' CLAIMS AGAINST VILLAGE XIII ACQUISITION CORP. ISSUER UNTIL RELEASED TO VILLAGE XIII ACQUISITION CORP. ISSUER IN ACCORDANCE WITH SECTION 4(a) HEREOF.. ------------ c. Selling Security Holders b. Sales Agent and Issuer understand and agree that all checks and similar instruments received by Escrow Agent hereunder are subject to collection requirements of presentment and final payment, and that the funds represented thereby cannot be drawn upon or disbursed until such time as final payment has been made and is no longer subject to dishonor. Upon receipt, Escrow Agent shall process each Cash Investment Instrument for collection, and the proceeds thereof shall be held as part of the Escrow Funds until disbursed in accordance with Section 4 hereof. If, upon presentment for payment, any Cash Investment Instrument is dishonored, Escrow Agent's sole obligation shall be to notify Principal and Selling Security Holders Sales Agent or Issuer, as applicable, of such dishonor and to return such Cash Investment Instrument to Selling Security Holders Sales Agent or Issuer, as applicable, to take whatever action it deems necessary. Notwithstanding the foregoing, if for any reason any Cash Investment Instrument is uncollectible after payment of the funds represented thereby has been made by Escrow Agent, Village XIII Acquisition Co., Inc. Issuer shall immediately reimburse Escrow Agent upon receipt from Escrow Agent of written notice thereof. Upon receipt of any Cash Investment Instrument that represents payment less than or greater than the Cash Investment, Escrow Agent's sole obligation shall be to notify the Selling Security Holders Issuer or Sales Agent of such fact and to return such Cash Investment Instrument to the SubscriberSales Agent or Issuer. d. c. All Cash Investment Instruments shall be made payable to the order of, or endorsed to the order of, "First Union National Citizens Bank/Village XIII Acquisition Co., Inc. Weststar Financial Services Corporation - Escrow Account, ," and Escrow Agent shall not be obligated to accept, or present for payment, any Cash Investment Instrument that is not payable or endorsed in that manner.