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Agenda - Council - 08/08/2017
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Agenda - Council - 08/08/2017
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Last modified
3/17/2025 3:37:14 PM
Creation date
9/13/2017 9:18:57 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Date
08/08/2017
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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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