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EXHIBIT 4 PID No. 75516 Project No. (2005) ESCROW AGREEMENT FOR HIGHWAY IMPROVEMENT This agreement made and entered at , Ohio, this day of , 2005, by and between the Legislative Authority of , Ohio, The Ohio Department of Transportation (ODOT) and (address) (city) (FINANCIAL INSTITUTION) , Ohio, ( zip code) (telephone no.) WITNESSETH That for and in consideration of the covenants and agreements of the parties herein contained. The ODOT hereby expressly authorizes the City to deposit the pre -bid estimate (or some larger amount) of said City's participation share of project cost in the amount of Eighty Nine Thousand Eighty Two and - - - - 00/100 Dollars, ($89,082.00), as required by the ODOT's Invoice No. 9218, dated the March 21, 2005, on project described as: Cuyahoga County - City of North Olmsted - State Route 252 - Section 0.00 - State Project, in an interest bearing account, repurchase agreement or certificate of deposit with the FINANCIAL INSTITUTION. The City hereby agrees to deposit into the aforementioned account funds in the amount of $ . The Financial Institution shall fax confirmation of this act (ex: deposit slip - not escrow agreement) to Jeffrey M. Hisem, Administrator, Attn: Sue Thomas, Office of Estimating, within 24 hours of deposit. Such funds shall thereupon remain on deposit for the credit of the ODOT and said City, until such time as payment of the City's estimated participation share, as determined after receipt of bids, is ordered to be paid by the Administrator of the Office of Estimating or the Director of ODOT. Upon receipt of such order for payment, IN THE FORM OF A REVISED INVOICE, the FINANCIAL INSTITUTION hereby agrees to deliver and pay over to The ODOT, by return mail within twenty -four (24) hours, the funds so requested (but in no event more than the amount of the pre -bid estimate), and to deliver and pay over to the City the accrued interest thereon and any balance that may remain. (The City's ultimate share of the cost shall be determined in accordance with the FINAL RESOLUTION and the CONTRACT). It is understood and agreed that funds on deposit pursuant to this agreement may be invested by the FINANCIAL INSTITUTION as provided herein and in accordance with applicable law and regulations. It is also expressly understood that the Local Public Agency shall not withdraw any funds.