HomeMy WebLinkAbout0948 ! •
ESCROW AGREEMENT
'rHIS AGREEMENT entered into this ~ day of September,
1982, between JAMES SHUFORD and ARLENE SHUFORD, his wife, BOWEN
BROTHERS, INC., a Florida Corporation, and DAVID S. ALBERTSON,
hereinafter co~lectively referred to as FIRST PARTY, PAUL H.
FR~EMAN, as Trustee, hereinafter referred to as SECOND PARTY, ,
and MORA & FREEMAN, Attorneys at Law, hereinafter referred to
as ESCROW AGENT.
~
W I T N E S S E T H;
WHEREAS, FIRST PARTY has simultaneous with the execution •
hereof completed the transfer of legal title to certain real
property located in St. Lucie County, Florida, to SECOND PARTY,
said property consisting of approximately 200 acres of bearing
citrus grove and being more particularly described on Schedule "A"
attached hereto and made a part hereof by reference; and
WHEREAS, FIRST PARTY and SECOND PARTY agreed in garagraph 5
of the Sale C~ntract entered into between them, or their pre-
decessors in interest, on July 12, 1982, that all proceeds derived
from the sale of citrus fruit crops presently growing or be grown ;
in ~the future on the said real estate purchased by SECOND PARTY ~
. ~
. from FIRST PARTY would be placed in Escrow with an Escrow Aqent
~ to serve as additional security for the annual payments due under
the Second Purchase Money Mortgage of even date herewith given _
by SECOND PARTY to FIRST PARTY in connection with the closing
of said transaction;
NOW, THEREFORE, in consideration of the sum of TEN DOLLARS
($10.00) and in the~further consideration of the mutual promises
,
and undertakings made herein, the parties hereto hereby agree
~ as follows:
~ 1. The ESCROW AGENT under the terms of this Agreement shall
be MORA & FREEMAN, Attorneys at Law, 2050 Coral Way, Miami, Florida
33145. SECOND PARTY shall have the right to change the ESCROW
AGENT after first obtaining the written consent of FIRST PARTY,
which consent shall not be unreasonably withheld.
EXHI$IT "D"
B00!( t~7~ PAGE ~ 9~
- r -~s
~ ~