In the event any of the conditions described in N.J.A.C. 5:97-8-13(a)[1] occur, the Council shall be authorized, on behalf of the municipality, to direct the manner in which all funds in the affordable housing trust fund shall be expended. Such revenues shall immediately become available for expenditure once the Council has notified the Municipal Clerk and Chief Financial Officer that such a condition has occurred. In furtherance of the foregoing, Mendham Township shall, in establishing its housing trust fund pursuant to N.J.A.C. 5:97-8.1, ensure that the Township has provided written authorization, in the form of an escrow agreement, to permit the Council to direct the disbursement of such revenues from the account following the delivery to the bank of the aforementioned written notification provided by the Council to the Township's Clerk and Chief Financial Officer.