ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES. At Buyer’s option and 278 cost, Seller will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties 279 to Buyer. 280 ESCROW AGENT AND BROKER 281 13. ESCROW AGENT: Any Closing Agent or Escrow Agent (collectively “Agent”) receiving the Deposit, other funds 282 and other items is authorized, and agrees by acceptance of them, to deposit them promptly, hold same in escrow 283 within the State of Florida and, subject to COLLECTION, disburse them in accordance with terms and conditions 284 of this Contract. Failure of funds to become COLLECTED shall not excuse Buyer’s performance. When conflicting 285 demands for the Deposit are received, or Agent has a good faith doubt as to entitlement to the Deposit, Agent may 286 take such actions permitted by this Paragraph 13, as Agent deems advisable. If in doubt as to Agent’s duties or 287 liabilities under this Contract, Agent may, at Agent’s option, continue to hold the subject matter of the escrow until 288 the parties agree to its disbursement or until a final judgment of a court of competent jurisdiction shall determine 289 the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction of the 290 dispute. An attorney who represents a party and also acts as Agent may represent such party in such action. Upon 291 notifying all parties concerned of such action, all liability on the part of Agent shall fully terminate, except to the 292 extent of accounting for any items previously delivered out of escrow. If a licensed real estate broker, Agent will 293 comply with provisions of Chapter 475, F.S., as amended and FREC rules to timely resolve escrow disputes through 294 mediation, arbitration, interpleader or an escrow disbursement order. 295 In any proceeding between Buyer and Seller wherein Agent is made a party because of acting as Agent hereunder, 296 or in any proceeding where Agent interpleads the subject matter of the escrow, Agent shall recover reasonable 297 attorney’s fees and costs incurred, to be paid pursuant to court order out of the escrowed funds or equivalent. Agent 298 shall not be liable to any party or person for mis-delivery of any escrowed items, unless such mis-delivery is due to 299 Agent’s willful breach of this Contract or Agent’s gross negligence. This Paragraph 13 shall survive Closing or 300 termination of this Contract.
ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES. At Buyer’s option and cost, Seller will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties to Buyer. ESCROW AGENT AND BROKER
ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES. At Buyer’s option and 290 cost, Seller will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties 291 to Buyer. 292 ESCROW AGENT AND BROKER
ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES. 304 All repairs and replacements shall be completed in a good and workmanlike manner by an appropriately 305 licensed person, in accordance with all requirements of law, and shall consist of materials or items of quality, 306 value, capacity and performance comparable to, or better than, that existing as of the Effective Date. Except 307 as provided in Paragraph 12(c)(ii), at Buyer’s option and cost, Seller will, at Closing, assign all assignable 308 repair, treatment and maintenance contracts and warranties to Buyer. 309 ESCROW AGENT AND BROKER
ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES. At Buyer’s option and cost, Seller will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties to Buyer. Under the As-Is Form, the buyer is allowed a period of time (15 days if some other time period is not inserted) beginning with the Effective Date within which to inspect the property and conduct other investigations (“Inspection Period”). The buyer has a discretionary right to cancel the contract at any time prior to the end of the Inspection Period by giving seller the required written notice of cancellation. If the Inspection Period expires without the buyer exercising the right of cancellation the buyer is accepting the physical condition of the property and any violation of governmental, building, environmental and safety codes, restrictions or requirements, except violations which are survey defects under Standard B. CAUTION: Notice that the buyer continues to have certain protections under the contract notwithstanding the acceptance of the property in as-is condition. The title and survey provisions of Standards A and B continue to apply. In addition, the seller is not relieved from the obligation to make disclosures under Paragraph 10(j) nor from the Maintenance Requirement as provided in Paragraph 11. The Walk-Through Inspection/Re-inspection provision in 12 (b) is modified to eliminate reference to “. . .repairs and replacements required by this Contract”. The seller’s only repair responsibility is to comply with the Maintenance Requirement.
