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Agenda - Council - 04/25/2017
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Agenda - Council - 04/25/2017
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3/17/2025 3:32:02 PM
Creation date
4/25/2017 2:48:22 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Date
04/25/2017
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ESCROW RECEIPT <br /> The undersigned, Commercial Partners Title, LLC ("Escrow Agent"), acknowledges receipt of <br /> Nine Thousand One Hundred Fifty and No/100 Dollars ($9,150.00)(the "Initial Deposit")to be <br /> held by it pursuant to the Purchase Agreement to which this Escrow Receipt is attached. <br /> Additional deposits may be made with Escrow Agent(collectively with the Initial Deposit,the <br /> "Deposit")pursuant to the Purchase Agreement. Escrow Agent agrees to hold the Deposit in <br /> accordance with the terms of the Purchase Agreement and disburse the same strictly in <br /> accordance with such terms. Escrow Agent shall invest the Deposit in such interest-bearing <br /> accounts or instruments as shall be approved by both Buyer and Seller. Interest shall accrue for <br /> the benefit of Buyer. <br /> Seller and Buyer represent that their respective Tax I.D.Numbers are as follows: Seller, <br /> ; Buyer, 45-2430948. <br /> Escrow Agent shall have no responsibility for any decision concerning performance or <br /> effectiveness of the Purchase Agreement or to resolve any disputes concerning the Purchase <br /> Agreement. Escrow Agent shall be responsible only to act in accordance with the joint and <br /> mutual direction of both Seller and Buyer, or in lieu thereof, the direction of a court of competent <br /> jurisdiction. Seller and Buyer undertake to hold Escrow Agent harmless from all claims for <br /> damages arising out of this Escrow Receipt and do hereby agree to indemnify Escrow Agent for <br /> any costs and expenses in connection with this escrow, including court costs and attorneys' fees, <br /> except for Escrow Agent's failure to account for the funds held hereunder, or acting in conflict <br /> with the terms hereof. <br /> The fees and charges of the Escrow Agent shall be paid by Buyer. <br /> ESCROW AGENT: <br /> Commercial Partners Title, LLC <br /> By: <br /> Its: <br /> [Signatures continued on following page] <br /> US.106153450.02 <br />
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