COURT COUNTY .OF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ......... .. : : -against- : ESCROW TRUST FUND Plaintiff(s) MODEL AMENDMENT Index No. Calendar No. JUDICIAL SUBPOENA : : The disclosure contained in this amendment replaces and supersedes the former section of the plan dealing with the placing of downpayments in escrow. As of all : Date Defendant(s) downpayments will be placed in an account in conformity : with the disclosure contained in this ...................................................... amendment. The sponsor will comply with the escrow and trust fund requirements of General Business THE PEOPLE OF THE STATE OF NEW YORK Law Section 352-e (2-b) and 352-h and the Attorney General’ regulations promulgated pursuant s thereto. TO Any provision of any contract or agreement, whether oral or in writing, by which a purchaser or subscriber purports to waive or indemnify any obligation of the escrow agent holding trust funds is absolutely void. The provisions of the Attorney General’ regulations concerning escrow/trust s GREETINGS: funds shall prevail over any conflicting or inconsistent provision in the offering plan or in a purchase or subscription agreement. Purchasersbusiness and excuses being laid aside, you and each of you of the before WE COMMAND YOU, that all shall not be obligated to pay any legal or other expense attend sponsor in connection with the establishment, maintenance or defense of obligations arising from the , the Honorable at the Court handling located County of or disposition of trust funds.at in room , on the day of , 20 , at o'clock in the noon, and at any recessed or adjourned date, to testify and give evidence advances made by purchasers part of to closing of each All deposits, downpayments, or as a witness in this action on the prior the individual transaction, whether received before or after the date of consummation of the plan, will be placed, within five business days after the agreement is signed by all necessary parties, in a segregated , the Escrow Agent, special Your failure to comply with this subpoena is punishable as a contempt of court and will make you liable to escrow account of Name of Attorney orfor a maximum penalty of $50 and all damages sustained as a Firm of Attorneys the party on whose behalf this subpoena was issued result of your failure to comply. whose address is Witness, Honorable and in Court whose telephone number is day of County, , one of the Justices of the , 20 The signatories on this account authorized to withdraw funds are: (Attorney must sign above and type name below) Name Address Attorney(s) for Name The name of the account is Address Office and P.O. Address ESCROW ACCOUNT, located in Name of Bank Telephone No.: Facsimile No.: E-Mail Address: Mobile Tel. No.: American LegalNet, Inc. www.USCourtForms.com COURT COUNTY .OF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ......... .. : : at Plaintiff(s) Address of Bank -against- Index No. Calendar No. : . This bank is covered by the federal JUDICIAL SUBPOENA : deposit insurance corporation (FDIC) to a maximum of $100,00 per individual deposit. [If an : individual makes a downpayment in excess of $100,000 for the purchase of a unit, it is a special risk of this offer that such deposit will not be federally insured in:excess of $100.00.] [If applicable] Defendant(s) The account will be interest-bearing and, unless the purchaser defaults, interest will be : ...................................................... credited to the purchaser at closing. The interest rate to be earned will be the prevailing rate for these accounts which currently is %. Interest will begin to accrue within five business days of tender of the downpayment. THE PEOPLE OF THE STATE OF NEW YORK All instruments shall be made payable to or endorsed to the order of TO escrow agent. as Within ten business days after tender of the deposit submitted with the purchase or subscription agreement, the escrow agent will notify the purchaser or subscriber that such funds have GREETINGS: been deposited into the escrow account and will provide the account number and the initial interest rate. IfWE COMMAND YOU, that all businessreceive notice of such aside, you and each of you attend before the purchaser or subscriber does not and excuses being laid deposit within fifteen business days after tender of the deposit, the purchaser or the , the Honorable at subscriber may cancel the purchase and rescind so Court long of located within ninety days after tender of the deposit. Rescission may Countyas the right to rescind is exercisedat satisfactory to the 20 innot be afforded ,where proof day of room on the , Attorney General is submitted establishing that the , at o'clock in the noon, and at any recessed orescrowed funds to testify and give evidence asrequisite notice action on the part of to the purchaser or adjourned date, were timely deposited and a witness in this was timely mailed the subscriber in conformity with the Attorney General’ regulations. s Since all contracts are contingent upon the punishable as a contempt of court no will make you s Your failure to comply with this subpoena is plan’ becoming effective, under andcircumstances liable to shall sponsor apply for release of was issued for a funds of a defaulting purchaser until sustained as a the escrowed maximum penalty of $50 and all damages after the party on whose behalf this subpoena consummation of to plan. result of your failure thecomply. The escrow agent will hold funds in escrow until otherwise directedof the Justices of the Witness, Honorable , one in Court in County, day of , 20 (a) a writing signed by both sponsor and purchaser or subscriber; or (b) a determination of the Attorney General pursuant above anddispute resolution (Attorney must sign to the type name below) procedures contained in the Attorney General’ regulations; or s (c) a judgment or order of a court of competent jurisdiction. Attorney(s) for If there is no written agreement between the parties to release the escrowed funds, the escrow agent will not pay the funds to the sponsor until the escrow agent has given the purchaser written notice of not fewer than ten business days. Thereafter, the funds may be paid to the sponsor unless Office and P.O. Address the purchaser or subscriber has already made application to the Department of Law pursuant to the dispute resolution provisions of the Attorney General regulations and has so notified the escrow agent in accordance with such provisions. Telephone No.: Facsimile No.: The sponsor will not object to the release of the escrowed funds to E-Mail Address: Mobile Tel. No.: 2 American LegalNet, Inc. www.USCourtForms.com COURT COUNTY .OF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ......... .. : : (i) Calendar No. : a purchaser who timely rescinds in accordance with an offer of rescission JUDICIAL SUBPOENA Plaintiff(s) contained in the plan or an amendment to the plan; -against- (ii) Index No. : all purchasers after an amendment abandoning the plan is accepted for filing : by the Department of Law. : Purchasers, subscribers, and the escrow agent may apply to the Attorney General in the event Defendant(s) of a dispute for a determination on the disposition of the downpayment and any interest thereon. The : ...................................................... sponsor must avail itself of this procedure if there is a dispute which needs to be resolved. A form for this purpose is attached as an exhibit to this amendment. The party applying for determination must send all other parties a copy of the application. THE PEOPLE OF THE STATE OF NEW YORK Pending the determination of the Attorney General to grant or deny the application, the TO sponsor, the purchaser or subscriber, and the escrow agent shall abide by any interim directive issued by the Attorney General. Attached to this amendment is a copy of the escrow agreement which incorporates the terms of the Attorney General’ regulations. s GREETINGS: WE COMMAND YOU, that all business and excuses being laid aside, you and each of you attend before The , the Honorable escrow agent will maintain all records concerning the escrow account for seven years at the Court after of located at Countythe release of funds. in room , on the day of , 20 , at o'clock in the noon, and at any recessed or adjourned date, to testify and give evidence as a witness in this action on the part of the Your failure to comply with this subpoena is punishable as a contempt of court and will make you liable to the party on whose behalf this subpoena was issued for a maximum penalty of $50 and all damages sustained as a result of your failure to comply. Witness, Honorable Court in County, , one of the Justices of the day of , 20 4/9/92 (Attorney must sign above and type name below) Attorney(s) for Office and P.O. Address Telephone No.: Facsimile No.: E-Mail Address: Mobile Tel. No.: American LegalNet, Inc. www.USCourtForms.com