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'111111.1.11....711.11111.m.111.11.11.7"41F—"—w-i- --4,:4 •NiAtV,' '` . ,•,,.•:- -• ,-,,,g‘z,,:-.. - - -' , -= , . . * <br /> rs Fly; '' :^ _'_ •: W4''''..: z'_ <br /> - _ I <br /> Examples: . <br /> Initial Deposits - <br /> overnmental bodies agrees to participate by October 1, <br /> If two g will deposit - _ <br /> each. will deposit $12,500. If there are three, e <br /> $8,.333. - - <br /> Distributions from Escrow <br /> • <br /> If there are three participants, submission of copies of invoices <br /> of $16,666 or more will cause disbursement of $16,666 to that . <br /> participant. On July 1, 1987, if only one participant has <br /> submitted and received payment for invoices for $16,666, i then it <br /> may submit copies of invoices totaling up to $33,334 and <br /> receive up to an additional $16,667. The other two participants <br /> will receive their $8,333 back at that time. <br /> If on July 1, 1987, two participants have obtained their maximum <br /> $16,666 remaining <br /> out of the escrow account, there will be $16, <br /> account, with $8,333 to be returned to the participant who did <br /> not expend any funds and $8,333 will be eligible for matching om <br /> an equal basis among the two participants who did expend funds. <br /> If not used, the $8,333 will be returned to Village Companies. . <br /> Should you have any questions, please contact me. <br /> Best regards, <br /> / 4 • . <br /> Robert E. Woodruff - - _ <br /> REWlkab <br /> cc: Don Wilihoit <br /> *OMEN <br />