Form Sr-4 - Impoundment Of Funds Agreement Page 2
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34. If, on or before the Closing Date, the funds deposited in the Impound Account amount to
or exceed $ ______________ (The Minimum Subscription), then the Depository shall
pay such funds, and all other funds deposited thereafter, to the Issuer. The Depository shall
notify the Administrator in writing upon the release of funds.
5. Upon receipt by the Depository of written notification signed by the Issuer advising that
it was unable to sell the Minimum Subscription within the specific offering period, the
funds deposited in the Impound Account shall be returned by the Depository to the
Subscribers according to the amount each contributed. Total interest, less interest used to
satisfy Depository costs and fees, will be divided and returned to subscribers based upon
the investment.
6. If, at any time prior to the disbursement of funds by the Depository as provided in
Paragraph 4 or 5 of this Agreement, the Depository is advised by the Administrator that the
registration to sell securities of the Issuer has been suspended or revoked, that the
condition of its registration permit has not been met or that any provision of the Missouri
securities laws have not been complied with, then the Administrator may direct the
Depository not to disburse the proceeds until further notice by the Administrator.
7. This Impoundment Agreement shall terminate upon disbursement of funds pursuant to
Paragraphs 4 or 5; provided, however, the Issuer may abandon the public offering. Upon
the receipt of a letter from the Issuer stating that the offering has been abandoned, copy to
the Administrator, the Depository is authorized to return the monies received hereunder to
the subscribers according to the amount each subscriber contributed with interest, less
interest used to satisfy Depository costs and fees, and this Agreement shall termintae upon
said distribution.
8. The sole duty of the Depository other than as herein specified, shall be to establish and
maintain the Impound Account and receive and hold the funds deposited by the company
pursuant to all applicable banking laws and regulations.
9. The Issuer acknowledges that the Depository is performing the limited function of
Depository and that this fact in no ways means the Depository has passed in any way
upon the merits or qualifications of, or has recommended, or given approval to, any person,
security or transaction. A statement to this effect shall be included in the offering circular.
10. The Administrator may, at any time, inspect the records of the Depository, insofar as they
relate to this Agreement, for the purpose of making any determination hereunder or
effecting compliance with and conformance to the provisions of this Agreement.
FORM SR-4 (01-05)
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