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<br />- <br /> <br />e <br /> <br />intended purpose of providing for the refunding of the <br />Defeased Bonds in accordance with applicable law. <br /> <br />Section 6.05. Governing Law. This Escrow Agreement <br />shall be governed exclusively by the provisions hereof and <br />by the applicable laws of the State of Texas. <br /> <br />Section 6.06. Time of Essence. Time shall be of the <br />essence in the performance of obligations from time to time <br />imposed upon the Escrow Agent by this Escrow Agreement. <br /> <br />Executed as of the date first written above. <br /> <br />-~~~~!~~~..' ," <br />->::i...~ .; . <br />.,t"- ., ~ . 1.. ...... . ~ <br />~ '", '.,. ~" <br />.: ..... . '? /~ <br />f " ";.'-- / <br /> <br />~of. .~..... ,,-........ ,1" <br />" - ~ ~~ < <br />of -...r r <br />/ - ." :,.. <br />~ ..i. .. ~ <br /> <br /> <br />~:~~~ <br /> <br />.C~ty Secretary <br /> <br />::~~o;a;;~ <br /> <br />ay r <br /> <br />( SEAL) <br /> <br />FIRST CITY NATIONAL BANK OF <br /> <br />HOUSTON, <br /> <br />as Escrow Agent <br /> <br />By <br /> <br />Title: <br /> <br />ATTEST: <br /> <br />Title: <br /> <br />( SEAL) <br /> <br />001RDRBR/193BOl <br /> <br />-9- <br />