Common use of Deposits into Escrow Clause in Contracts

Deposits into Escrow. a. Upon receipt by Escrow Agent of any Cash Investment Instrument for the purchase of Debentures, Escrow Agent shall deposit the Cash Investment Instrument into the following escrow account: SunTrust Bank Tampa, FL ABA # ____________ _____________________________ FFC: (*TBD*) ATTN: _______________________ Each such deposit shall be accompanied by the following documents: (1) a report containing such Subscriber's name, social security number or taxpayer identification number, address and other information required for withholding purposes; (2) a Subscription Accounting; and (3) instructions regarding the investment of such deposited funds in accordance with Section 6 hereof. ALL FUNDS SO DEPOSITED SHALL REMAIN THE PROPERTY OF THE SUBSCRIBERS ACCORDING TO THEIR RESPECTIVE INTERESTS AND SHALL NOT BE SUBJECT TO ANY LIEN OR CHARGE BY ESCROW AGENT OR BY JUDGMENT OR CREDITORS' CLAIMS AGAINST COMPANY UNTIL RELEASED TO COMPANY IN ACCORDANCE WITH SECTION 4(a) HEREOF. b. Company understands and agrees that all checks and similar instruments received by Escrow Agent hereunder are subject to collection requirements of presentment and final payment, and that the funds represented thereby cannot be drawn upon or disbursed until such time as final payment has been made and is no longer subject to dishonor. Upon receipt, Escrow Agent shall process each Cash Investment Instrument for collection, and the proceeds thereof shall be held as part of the Escrow Funds until disbursed in accordance with Section 4 hereof. If, upon presentment for payment, any Cash Investment Instrument is dishonored, Escrow Agent's sole obligation shall be to notify Company of such dishonor and to forward such Cash Investment Instrument to Company to take whatever action it deems necessary. Notwithstanding the foregoing, if for any reason any Cash Investment Instrument is uncollectible after payment of the funds represented thereby has been made by Escrow Agent, Company shall immediately reimburse Escrow Agent upon receipt from Escrow Agent of written notice thereof. Upon receipt of any Cash Investment Instrument that represents payment less than or greater than the Cash Investment, Escrow Agent's sole obligation shall be to notify Company of such fact and to return such Cash Investment Instrument to the Subscriber. c. All Cash Investment Instruments shall be made payable to the order of, or endorsed to the order of, "First Union National Bank, Escrow Account," and Escrow Agent shall not be obligated to accept, or present for payment, any Cash Investment Instrument that is not payable or endorsed in that manner.

Deposits into Escrow. a. Upon receipt by Escrow Sales Agent or Issuer of any --------------------- Cash Investment Instrument for the purchase of DebenturesShares, Sales Agent or Issuer shall forward to Escrow Agent shall deposit Agent, by 12:00 noon of the next business day, the Cash Investment Instrument for deposit into the following escrow account: SunTrust First Citizens Bank TampaRaleigh, FL North Carolina ABA # ____________ ________________FFC: _____________ FFC: (*TBD*) ATTN: ________________ for Weststar Financial Services Corporation Escrow Account Notify (919) ________ Each such deposit shall be accompanied by the following documents: (1) a report containing such Subscriber's name, social security number or taxpayer identification number, address and other information required for withholding purposes;; and (2) a Subscription Accounting; and (3) instructions regarding the investment of such deposited funds in accordance with Section 6 hereof. ALL FUNDS SO DEPOSITED SHALL REMAIN THE PROPERTY OF THE SUBSCRIBERS ACCORDING TO THEIR RESPECTIVE INTERESTS AND SHALL NOT BE SUBJECT TO ANY LIEN OR CHARGE BY ESCROW AGENT OR BY JUDGMENT OR CREDITORS' CLAIMS AGAINST COMPANY ISSUER UNTIL RELEASED TO COMPANY ISSUER IN ACCORDANCE WITH SECTION 4(a) HEREOF.. ------------ b. Company understands Sales Agent and agrees Issuer understand and agree that all checks and similar instruments received by Escrow Agent hereunder are subject to collection requirements of presentment and final payment, and that the funds represented thereby cannot be drawn upon or disbursed until such time as final payment has been made and is no longer subject to dishonor. Upon receipt, Escrow Agent shall process each Cash Investment Instrument for collection, and the proceeds thereof shall be held as part of the Escrow Funds until disbursed in accordance with Section 4 hereof. If, upon presentment for payment, any Cash Investment Instrument is dishonored, Escrow Agent's sole obligation shall be to notify Company Sales Agent or Issuer, as applicable, of such dishonor and to forward return such Cash Investment Instrument to Company Sales Agent or Issuer, as applicable, to take whatever action it deems necessary. Notwithstanding the foregoing, if for any reason any Cash Investment Instrument is uncollectible after payment of the funds represented thereby has been made by Escrow Agent, Company Issuer shall immediately reimburse Escrow Agent upon receipt from Escrow Agent of written notice thereof. Upon receipt of any Cash Investment Instrument that represents payment less than or greater than the Cash Investment, Escrow Agent's sole obligation shall be to notify Company Issuer or Sales Agent of such fact and to return such Cash Investment Instrument to the SubscriberSales Agent or Issuer. c. All Cash Investment Instruments shall be made payable to the order of, or endorsed to the order of, "First Union National Citizens Bank, /Weststar Financial Services Corporation - Escrow Account," and Escrow Agent shall not be obligated to accept, or present for payment, any Cash Investment Instrument that is not payable or endorsed in that manner.

Deposits into Escrow. a. Upon receipt by Escrow Sales Agent or Issuer -------------------- of any Cash Investment Instrument for the purchase of DebenturesShares, Sales Agent or Issuer shall forward to Escrow Agent shall deposit Agent, by 12:00 noon of the next business day, the Cash Investment Instrument for deposit into the following escrow account: SunTrust First Union National Bank TampaCharlotte, FL North Carolina ABA # ____________ _____________________________ ▇▇▇▇▇▇▇▇▇ D/5000000016439 FFC: (*TBD*) ▇▇▇▇▇▇▇▇▇▇/ACB ATTN: _______________________ Corporate Trust Department for American Community Bancshares, Inc. Escrow Account Notify (▇▇▇) ▇▇▇-▇▇▇▇ Each such deposit shall be accompanied by the following documents: (1) a report containing such Subscriber's name, social security number or taxpayer identification number, address and other information required for withholding purposes;; and (2) a Subscription Accounting; and (3) instructions regarding the investment of such deposited funds in accordance with Section 6 hereof. ALL FUNDS SO DEPOSITED SHALL REMAIN THE PROPERTY OF THE SUBSCRIBERS ACCORDING TO THEIR RESPECTIVE INTERESTS AND SHALL NOT BE SUBJECT TO ANY LIEN OR CHARGE BY ESCROW AGENT OR BY JUDGMENT OR CREDITORS' CLAIMS AGAINST COMPANY ISSUER UNTIL RELEASED TO COMPANY ISSUER IN ACCORDANCE WITH SECTION 4(a) HEREOF.. ------------ b. Company understands Sales Agent and agrees Issuer understand and agree that all checks and similar instruments received by Escrow Agent hereunder are subject to collection requirements of presentment and final payment, and that the funds represented thereby cannot be drawn upon or disbursed until such time as final payment has been made and is no longer subject to dishonor. Upon receipt, Escrow Agent shall process each Cash Investment Instrument for collection, and the proceeds thereof shall be held as part of the Escrow Funds until disbursed in accordance with Section 4 hereof. If, upon presentment for payment, any Cash Investment --------- Instrument is dishonored, Escrow Agent's sole obligation shall be to notify Company Sales Agent or Issuer, as applicable, of such dishonor and to forward return such Cash Investment Instrument to Company Sales Agent or Issuer, as applicable, to take whatever action it deems necessary. Notwithstanding the foregoing, if for any reason any Cash Investment Instrument is uncollectible after payment of the funds represented thereby has been made by Escrow Agent, Company Issuer shall immediately reimburse Escrow Agent upon receipt from Escrow Agent of written notice thereof. Upon receipt of any Cash Investment Instrument that represents payment less than or greater than the Cash Investment, Escrow Agent's sole obligation shall be to notify Company Issuer or Sales Agent of such fact and to return such Cash Investment Instrument to the SubscriberSales Agent or Issuer. c. All Cash Investment Instruments shall be made payable to the order of, or endorsed to the order of, "First Union National Bank/American Community Bancshares, Inc.- Escrow Account," and Escrow Agent shall not be obligated to accept, or present for payment, any Cash Investment Instrument that is not payable or endorsed in that manner.