LienGen Trust, N.A.

This Escrow Agreement (the “Agreement”) is made between Meridian Construction Group (the “General Contractor”), represented by David Reinholt, and Ironclad Steel & Erection LLC (the “Subcontractor”), each an authorized party, and LienGen Trust, N.A., a federally chartered depository institution acting as escrow agent.

The General Contractor shall irrevocably deposit into the escrow account, held at LienGen Trust routing 021000021, the principal sum of $284,500.00 (the “Escrowed Funds”), to be released to the Subcontractor upon satisfaction of the conditions set forth in Section 4.

The work shall be performed at the site commonly known as 220 Front St, Jersey City, NJ 07302, in the jurisdiction of the State of NJ. This Agreement shall be governed by, and construed in accordance with, the laws of that State, including its statutory lien and prompt-payment provisions.

Fabrication and erection of structural steel framing for podium levels L1–L4, including moment connections, embed plates, and shear studs per approved shop drawings dated 2026-05-18.

1. Delivery of a signed conditional lien waiver in the form prescribed by the State of NJ.
2. Written acceptance of substantial completion by the General Contractor.
3. Absence of any unresolved statutory lien claim against the Escrowed Funds within the notice period required by applicable law.
4. ACH settlement to the Subcontractor’s beneficiary account on file with LienGen Trust.

LienGen Trust shall assess a flat escrow servicing fee of $125.00, netted from the Escrowed Funds at disbursement. Standard ACH settlement occurs within 1–2 business days of the release trigger.