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Fill and Sign the Agreement for Purchase and Sale and Joint Escrow Instructions Form

Fill and Sign the Agreement for Purchase and Sale and Joint Escrow Instructions Form

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Open the document and fill out all its fields.
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Page 1 of 2 ESCROW AGREEMENT AND INSTRUCTIONS _____ (as “Buyer”), and _____ (as “Seller”)(sometimes referred to collectively as “Principals” or individually as a “Principal”), request that _____ (as “Escrow Agent”) esta blish an escrow for the sale of the following land: (Description of Land) Principals are delivering _____ ($_____) (the “Escrow”) to be held by Escrow Agent. Any cash funds or cash proceeds shall be deposited by the Escrow Agent in an interest bearing account, in institutions which are federally insured for deposits in the amount of t he Escrow, or in direct obligations of the United States of America, including treasury bills or notes with maturity dates coinciding with any distributions to be made under the terms of t his Agreement. Escrow Agent shall follow the instructions and release the Escrow funds according to that certain Purchase Agreement dated _____, between the Principals. In the event of a breach of the Purchase Agreement or should the Buyer elect to terminate the Purchase Agreement acc ording to the terms and conditions of the Agreement, Escrow Agent shall close the escrow and return the amounts to the parties as set out in the Purchase Agreement, and shall then be absolut ely discharged. On complying with the terms of the Purchase Agreement, Escrow Agent shall be discharged as to the amounts paid. Escrow Agent shall be absolutely discharged on the payme nt and may rely solely and totally on the certifications. Escrow Agent shall not be re quired to make any independent verification of the correctness of any terms of the Purchase Agreement and shall rely solely on instructions of the Agreement as set out in the Agreement. In the event of the receipt of conflicting instructions by the Principals prior to disc harge of the Escrow, Escrow Agent shall commence arbitration before a single arbitrator acce ptable to Escrow Agent under the rules of the American Arbitration Association, whose decision shall be final. On receipt of a final decision from the arbitrator, the Escrow Agent shall compl y with it and on compliance shall be discharged from all further liability. The decision of the arbitrator shall be final, and may be reduced to judgment by any Principal or the Escrow Agent. Principals shall indemnify Escrow Agent for all actions taken in compliance with this Agreement. The Principals shall reimburse the Escrow Agent for their standard Escrow fee and expenses incurred pursuant to these instructions. This is the entire Agreement between Principals and Escrow Agent. Escrow Agent is acting solely as a neutral stakeholder and the Principals agree there are no inte nded third party beneficiaries or parties other than Principals to this Agreement. Page 2 of 2 All notices herein shall be served as follows: To Escrow Agent: To Principals:Seller Buyer All notices shall be sent by certified mail, or by overnight delivery service providing a receipt. Notices sent by certified mail shall be deemed received within one worki ng day after first notice to the recipient for pick up, or when received, whichever is earlier. Not ices sent by overnight delivery service shall be deemed received the next business day. Date: PRINCIPALS:Sellers Buyer Escrow Agent:

Useful tips on preparing your ‘Agreement For Purchase And Sale And Joint Escrow Instructions’ online

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The best way to complete and sign your agreement for purchase and sale and joint escrow instructions form

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How to fill out and sign documents on iOS

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