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upr000103 114

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upr000103-114
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    1 2 3 4 5 6 7 8 9 10 11 1 2 13 14 15 1 6 17 18 19 20 2 1 22 23 2 4 25 26 the s u b of Three Hundred Twenty Thousand Dollars ($32©,0©O,0©), Within the time and in the manner provided In Section 7 hereof the District shall de­posit In the escrow referred to In Section f ssid sum of Three Hundred Twenty Thousand Dollars ($320,000.00) plus a sum equal to ten percent (lO fi) thereof, the total of both of said sums being the aggregate amount of Three Hundred Fifty-two Thousand Dollars ($352,000.00). (Said aggregate amount of Three Hundred Fifty-two Thousand Dollars ($352*000,00) la herein sometimes referred to as *Relocation Fund*,) The escrow instructions referred to In Section 7 shall provide for disbursements by the Escrow Agent from said Relocation Fund pursuant to the provisions of this Section 5 * * *. "when all the work provided for in Section 5 has been completed and all contractors employed either by the District or the First parties shall have been paid In full, the District and the First Parties shall so notify the Hscrew Agent, and thereupon any portion of the Relocation Fund remaining in the hands of the Escrow Agent shall be paid to the District," Pursuant to the foregoing quoted portion of said Section 5, the District did, on or about the 26th day of June, 1954, de­posit in escrow with First National Bank of Nevada (at Its South Third Street Branch, has Vegas, Nevada) the sun of Three Hundred Fifty-two Thousand Dollars ($352,000,00), therein called "Relocation Fund", together with Escrow Instructions dated June 21, 195**, (Escrow No. 12 -1905)# executed by the parties hereto. All of the work specified In said Section 5 has been per­formed, and has been fully paid for. It la agreeable to the parties hereto that the said Relocation Fund, bo-wit, the sun of Three Hundred fifty-two Thousand Dollars ($352,000.00) be forthwith paid to the District, by said First National Bank of Nevada, M m vm t Agent, NON, TH2RRP0R8, in consideration of the mutual agreements 2