Legal Fee & Escrow Setup:
When the Term Sheet is executed and returned, along with all required forms and identification, the legal fee in the amount of $15,000 is due. This fee is to draft the Transaction Documents, which also are used by the bank that is issuing the BG, as well as to open escrow with the same issuing bank which will hold the fees subject to the issuance of the SBLC, all as detailed in the Term Sheet and Transaction Documents. The full $15,000 is credited at closing.