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thereon. The Escrow Agent may conclusively rely upon the City's selection of an alternative <br />investment as a determination of the alternative investment's legality and suitability and shall not <br />be liable for any losses related to the alternative investments or for compliance with any yield <br />restriction applicable thereto. <br />Section 10. Amendments. The City and the Escrow Agent may (but only with the <br />consent of the Owners of all of the Prior Bonds and the Bond Insurer, if any, for the Prior Bonds) <br />amend this Escrow Agreement or enter into agreements supplemental to this Escrow Agreement. <br />Section 11. Term. This Escrow Agreement shall commence upon its execution and <br />delivery and shall terminate on the date upon which the Prior Bonds have been paid in accordance <br />with this Escrow Agreement. <br />Section 12. Compensation. The City shall from time to time pay or cause to be paid to <br />the Escrow Agent the agreed upon compensation for its services to be rendered hereunder, and <br />reimburse the Escrow Agent for all of its reasonable advances in the exercise and performance of <br />its duties hereunder; provided, however, that under no circumstances shall the Escrow Agent be <br />entitled to any lien whatsoever on any moneys or obligations in the Escrow Fund for the payment <br />of fees and expenses for services rendered or expenses incurred by the Escrow Agent under this <br />Escrow Agreement or otherwise. <br />Section 13. Severability. if any one or more of the covenants or agreements provided <br />in this Escrow Agreement on the part of the City or the Escrow Agent to be performed should be <br />determined by a court of competent jurisdiction to be contrary to law, such covenants or <br />agreements shall be null and void and shall be deemed separate from the remaining covenants and <br />agreements herein contained and shall in no way affect the validity of the remaining provisions of <br />this Escrow Agreement. <br />Section 14. Counterparts. This Escrow Agreement may be executed in several <br />counterparts, all or any of which shall be regarded for all purposes as an original but all of which <br />shall constitute and be but one and the same instrument. <br />Section 15. Governing Law. This Escrow Agreement shall be construed under the <br />laws of the State of California. <br />(Signature page follows) <br />5 <br />55394.00068\42304978.2 <br />