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LESSOR: <br />Holman Capital Corporation <br />25201 Paseo de Alicia, Suite 290 <br />Laguna Hills, CA 92653 <br />LESSEE: <br />City of Santa Ana <br />20 Civic Center Plaza <br />Santa Ana, CA 92702 <br />EXHIBIT I: <br />ESCROW AGREEMENT <br />ESCROW AGENT: <br />Santa Cruz County Bank <br />720 Front Street, Suite 220 <br />Santa Cruz, CA 95060 <br />THIS ESCROW AGREEMENT (this "Escrow Agreement") is made as of June 15, 2017, between <br />Holman Capital Corporation ("Lessor"), the City of Santa Ana ( "Lessee "), and Santa Cruz County Bank <br />(the "Escrow Agent"). <br />Lessor and Lessee have heretofore entered into that certain Equipment Lease -Purchase Agreement <br />and Equipment Schedule both dated June 15, 2017 (the "Lease Agreement"). The Lease Agreement <br />contemplates that certain Equipment described therein (the "Equipment") is to be acquired from <br />Contractors under the Equipment Acquisition Agreement. <br />After acceptance of the Equipment by Lessee, the Equipment is to be leased by Lessor to Lessee <br />pursuant to the terms of the Lease Agreement. <br />The Lease Agreement contemplates that Lessor will deposit with the Escrow Agent cash in the <br />amount of $1,462,000.00 (the `Deposit Amount"), for deposit into the escrow fund (the "Escrow Fund"), <br />to be held in escrow by the Escrow Agent and applied on the express terms and conditions set forth herein. <br />Such deposit into the Escrow Fund, together with all interest and additions received with respect thereto, is <br />to be applied from time to time to pay the Contractors for the Equipment its invoice cost or pro rata portion <br />thereof (a portion of which may, if required, be paid prior to final acceptance of the Equipment by Lessee). <br />The Escrow Fund is to be held in Lessee's name for the benefit of Lessee and Lessor, and Lessee has <br />granted to Lessor a first priority and perfected security interest in the Escrow Fund and any all proceeds, <br />interest and other earnings thereon and investments therein to the Lessor by virtue of the execution of this <br />Escrow Agreement without the need for any additional filings or financing statements. <br />The parties desire to set forth the terms on which the escrow is to be created and to establish the <br />rights and responsibilities of the parties hereto. <br />NOW, THEREFORE, the parties agree as follows: <br />The Escrow Agent hereby agrees to serve as escrow agent upon the terms and conditions set forth <br />herein. The Escrow Agent agrees that the Escrow Fund shall be held irrevocably in trust for the <br />account and benefit of Lessee and all interest earned with respect to the Escrow Fund shall accrue <br />to the benefit of Lessee and shall be applied as expressly set forth herein. <br />To the limited extent required to perfect the first, priority security interest hereby granted by Lessee <br />to Lessor in the cash and negotiable instruments from time to time held in the Escrow Fund, Lessor <br />I-1 <br />