HomeMy WebLinkAbout0222 • ~ E'~ 24~ .
. • :~~•tl~~r c~:' t~h~~i r <<Lt.~~c,,~ .t c?~ i~,t«i•.•~i i.ii ~-t~co~'~l:i.tic~; ~Zticl ~;l~all
.i[*i.:;::ct.ia~~1.y rt~c,c~r.d i~~~t~ t~::~r.r~ii~~~~ I~•`•c:~l, :~:lt :~t~ ~:ltc }.`ublic
l:crcorcl~ oF Si:. I.tiGie Cc~~ii~:.y, t']~rict:i: ha:;ev•~r, saicl ~scrow ~
~ Ag~z~~ _,1?~~ll i.~i:::i~~ ttiat: l-ti~ 1'~~c1,~i~.e t•1or~c:y I•lor~yaye sha1.1,
~in all. evcazits, bG a fir~t atul prim~iry lir_n up~ii the property
- ancl s2y~~11 b~ tlie docume;~t r~corded ner.t after t2i~ recorc~iny ~
of ~aid ~Iarr~~nL•y Deed. ~ - ,
9. D~LIVF.'R UF Ft~:~+DS: ~3uyer snall deliv~r th~ cash
~ required to close the tran~~ction to ~scrow 1',gent and Escrow
Agent shall hold said funds, toge~her with the deposii: made here-.
under and.the pro~nissory note secured by the purchase money ;
- mortqage, un~il Escrow Agent has ascertained that there has .
been no change in the title to the subject property from the
.
effective date of the last continuation o~ the abstxact of title
. ~
to the date and tima of recording the Warranty Deed conveying
title to the Buyer, or for a period o~ five ~5) busa.ness days ~
from date of closing, ~ahichever clate is carlier. At that time, -
Escro~~r Agen~ shall deliver the promissory note L-o Seller or their
attvrneys, together with the funds referzed to above. In the~
even t that Escraw Ayen t ascer_ ta ins c~ i tlr sa id f iv~ ( 5) clay
period that tli~re ar.e defects in the titl~, other than tho~e
appeariny an the ~-:bstract Lurnisl~ed pursuant to parac~raph 2
- ~
,
hereof, caused by the Seller, it will_ imm~~dia~ely no~ify ~ ~
~
~
Sellcr or th~ir attorneys oF such defects. In that event,
~
` Escrow 1lgent :;hall cont~iniiE~ to liald tl~e c3_osiny funds and
~
promissory ntoe in CSCXO+J until said defcc~~ l~ave been
i
li eteared, at ~~hic:h tiime it sh~ill dcliver said ~uncls and - i
i •
E - prorstissory note to 5~ller ar their a~torney I.f within .
~ ,
~ si~:ty (60) day , a~ter use oF due diligencc, Sellcr a.s unable
i .
: tc~. c~ure s~iid clefc•cts,, tlic~r~ L'uyE~r s1~~~l.t hav~ tite opta.on of ~
~
accepLing t:itlcr iii it_: c•~.ist:i.nc1 r.ondi.Li.c~n, upon ~•~hiCh Fsc~c'ow ~
~ @
;
Agrtit :;i~a11 cl~~l i vcr thc~ clo:~ i i~cs funcl : lo Sel ler o.r their ~
~~t.torru•~ ~:lc,ncj ~•ri t.h t.l~c• I'rc~u?i s:~ur~~ t:~tc; ur ot: cancell:ing •
t h~~ t r.?nc.~,<: t_ 1 o:i , i t? ~~h i.r.h cv~~;i t~ hc~tii ~~~i r. f~ icr_: ::li<<11 riecutie
, ~~ti•,~ .~n~l .~11 tl-,:•t~:•i-~r.; ~ n~~c:•:: :,~ry tt~ zr.tu?'tt t i tl.c~ GO L}te
~~c-c,~,~~•~t}~ tc~ i;:. c~~,-;~i:t i~~c~ i~ri!,r- tc~ t it;t•,r c~~ c'lr~:i.tuJ, ~nd
~:~~1 I~• 1'~•. ~r ! 1~~~.tr t~?: i r c,.~n rc.:j?t~cLiv~~ t~:•:f~enyErs
~ c~
E' PAGE
~ _ - .M~r
~F " ~ ~
^r"~
.