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Loss should it become necessary for the company to bring action to remove the lien or to pay the bills. The parties agree to appoint the Title Company as Escrow Agent; and the Lender is authorized to advance to the Escrow Agent from time to time during the progress of construction adequate funds to pay for costs of construction as warranted by lender’s periodic inspection of progress of construction. A facsimile signature on this Statement is valid as an original. Subscribed and sworn to befor.

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