| (a) Escrow of funds. The executive administrator may
deposit funds into an escrow account at the time of closing of the
financial assistance. Releases from an escrow account shall occur
on a reimbursement method as described in subsection (b) of this section,
sequentially based on milestones as described in subsection (c) of
this section, or in accordance with phasing required for the applicable
project. The Applicant must submit outlays for all expenses incurred.
(b) If there are no enhancements authorized, the Applicant
must submit a final accounting and disposition of any unused funds
as specified in §375.106. (relating to Final Accounting).
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