Common use of ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES Clause in Contracts

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 278 272 cost, Seller will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties 279 273 to Buyer. 280 274 ESCROW AGENT AND BROKER 281 275 13. ESCROW AGENT: Any Closing Agent or Escrow Agent (collectively “Agent”) receiving the Deposit, other funds 282 276 and other items is authorized, and agrees by acceptance of them, to deposit them promptly, hold same in escrow 283 277 within the State of Florida and, subject to COLLECTION, disburse them in accordance with terms and conditions 284 278 of this Contract. Failure of funds to become COLLECTED shall not excuse Buyer’s performance. When conflicting 285 279 demands for the Deposit are received, or Agent has a good faith doubt as to entitlement to the Deposit, Agent 280 may 286 take such actions permitted by this Paragraph 13, as Agent deems advisable. If in doubt as to Agent’s duties 281 or 287 liabilities under this Contract, Agent may, at Agent’s option, continue to hold the subject matter of the escrow 282 until 288 the parties agree to its disbursement or until a final judgment of a court of competent jurisdiction shall 283 determine 289 the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction 284 of the 290 dispute. An attorney who represents a party and also acts as Agent may represent such party in such 285 action. Upon 291 notifying all parties concerned of such action, all liability on the part of Agent shall fully terminate, 286 except to the 292 extent of accounting for any items previously delivered out of escrow. If a licensed real estate 287 broker, Agent will 293 comply with provisions of Chapter 475, F.S., as amended and FREC rules to timely resolve 288 escrow disputes through 294 mediation, arbitration, interpleader or an escrow disbursement order. 295 In any 289 Any proceeding between Buyer and Seller wherein Agent is made a party because of acting as Agent hereunder, 296 290 or in any proceeding where Agent interpleads the subject matter of the escrow, Agent shall recover reasonable 297 291 attorney’s fees and costs incurred, to be paid pursuant to court order out of the escrowed funds or equivalent. 292 Agent 298 shall not be liable to any party or person for mis-delivery of any escrowed items, unless such mis-delivery is 293 due to 299 Agent’s willful breach of this Contract or Agent’s gross negligence. This Paragraph 13 shall survive Closing 294 or 300 termination of this Contract.

ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES. At Buyer’s option and 278 324 cost, Seller will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties 279 325 to Buyer. 280 326 ESCROW AGENT AND BROKER 281 327 13. ESCROW AGENT: Any Closing Agent or Escrow Agent (collectively “Agent”) receiving the Deposit, other funds 282 328 and other items is authorized, and agrees by acceptance of them, to deposit them promptly, hold same in escrow 283 329 within the State of Florida and, subject to COLLECTIONCollectionCOLLECTION, disburse them in accordance with terms and 330 conditions 284 of this Contract. Failure of funds to become COLLECTED CollectedCOLLECTED shall not excuse Buyer’s 331 performance. When conflicting 285 demands for the Deposit are received, or Agent has a good faith doubt as to 332 entitlement to the Deposit, Agent may 286 take such actions permitted by this Paragraph 13, as Agent deems advisable. 333 If in doubt as to Agent’s duties or 287 liabilities under this Contract, Agent may, at Agent’s option, continue to hold the 334 subject matter of the escrow until 288 the parties agree to its disbursement or until a final judgment of a court of 335 competent jurisdiction shall determine 289 the rights of the parties, or Agent may deposit same with the clerk of the circuit court 000 xxxxxxx xxxxx having jurisdiction of the 290 dispute. An attorney who represents a party and also acts as Agent may 337 represent such party in such action. Upon 291 notifying all parties concerned of such action, all liability on the part of 338 Agent shall fully terminate, except to the 292 extent of accounting for any items previously delivered out of escrow. If a 339 licensed real estate broker, Agent will 293 comply with provisions of Chapter 475, F.S., as amended and FREC rules to 340 timely resolve escrow disputes through 294 mediation, arbitration, interpleader or an escrow disbursement order. 295 341 In any proceeding between Buyer and Seller wherein Agent is made a party because of acting as Agent hereunder, 296 342 or in any proceeding where Agent interpleads the subject matter of the escrow, Agent shall recover reasonable 297 343 attorney’s fees and costs incurred, to be paid pursuant to court order out of the escrowed funds or equivalent. Agent 298 344 shall not be liable to any party or person for mis-delivery of any escrowed items,, unless such mis-delivery is due 345 to 299 Agent’s willful breach of this Contract or Agent’s gross negligence. This Paragraph 13 113 shall survive Closing or 300 346 termination of this Contract.

ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES. At Buyer’s option and 278 272 cost, Seller will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties 279 273 to Buyer. 280 274 ESCROW AGENT AND BROKER 281 275 13. ESCROW AGENT: Any Closing Agent or Escrow Agent (collectively “Agent”) receiving the Deposit, other funds 282 276 and other items is authorized, and agrees by acceptance of them, to deposit them promptly, hold same in escrow 283 277 within the State of Florida and, subject to COLLECTION, disburse them in accordance with terms and conditions 284 278 of this Contract. Failure of funds to become COLLECTED shall not excuse BuyerXxxxx’s performance. When conflicting 285 279 demands for the Deposit are received, or Agent has a good faith doubt as to entitlement to the Deposit, Agent 280 may 286 take such actions permitted by this Paragraph 13, as Agent deems advisable. If in doubt as to Agent’s duties 281 or 287 liabilities under this Contract, Agent may, at Agent’s option, continue to hold the subject matter of the escrow 282 until 288 the parties agree to its disbursement or until a final judgment of a court of competent jurisdiction shall 283 determine 289 the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction 284 of the 290 dispute. An attorney who represents a party and also acts as Agent may represent such party in such 285 action. Upon 291 notifying all parties concerned of such action, all liability on the part of Agent shall fully terminate, 286 except to the 292 extent of accounting for any items previously delivered out of escrow. If a licensed real estate 287 broker, Agent will 293 comply with provisions of Chapter 475, F.S., as amended and FREC rules to timely resolve 288 escrow disputes through 294 mediation, arbitration, interpleader or an escrow disbursement order. 295 In any 289 Any proceeding between Buyer Xxxxx and Seller wherein Agent is made a party because of acting as Agent hereunderxxxxxxxxx, 296 290 or in any proceeding where Agent interpleads the subject matter of the escrow, Agent shall recover reasonable 297 291 attorney’s fees and costs incurred, to be paid pursuant to court order out of the escrowed funds or equivalent. 292 Agent 298 shall not be liable to any party or person for mis-delivery of any escrowed items, unless such mis-delivery is 293 due to 299 Agent’s willful breach of this Contract or Agent’s gross negligence. This Paragraph 13 shall survive Closing 294 or 300 termination of this Contract.

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 BuyerXxxxx’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 Xxxxx and Seller wherein Agent is made a party because of acting as Agent hereunderxxxxxxxxx, 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 333 All repairs and replacements shall be completed in a good and workmanlike manner by an appropriately licensed 334 person, in accordance with all requirements of law, and shall consist of materials or items of quality, value, capacity 335 and performance comparable to, or better than, that existing as of the Effective Date. Except as provided in 336 Paragraph 12(c)(ii), at Buyer’s option and 278 cost, Seller will, at Closing, assign all assignable repair, treatment and 337 maintenance contracts and warranties 279 to Buyer. 280 338 ESCROW AGENT AND BROKER 281 339 13. ESCROW AGENT: Any Closing Agent or Escrow Agent (collectively “Agent”) receiving the Deposit, other funds 282 and 340 other items is authorized, and agrees by acceptance of them, to deposit them promptly, hold same in escrow 283 within the 341 State of Florida and, subject to COLLECTION, disburse them in accordance with terms and conditions 284 of this Contract. 342 Failure of funds to become COLLECTED shall not excuse Buyer’s performance. When conflicting 285 demands for the 343 Deposit are received, or Agent has a good faith doubt as to entitlement to the Deposit, Agent may 286 take such actions 344 permitted by this Paragraph 13, as Agent deems advisable. If in doubt as to Agent’s duties or 287 liabilities under this 345 Contract, Agent may, at Agent’s option, continue to hold the subject matter of the escrow until 288 the parties agree to its 346 disbursement or until a final judgment of a court of competent jurisdiction shall determine 289 the rights of the parties, or 347 Agent may deposit same with the clerk of the circuit court having jurisdiction of the 290 dispute. An attorney who represents 348 a party and also acts as Agent may represent such party in such action. Upon 291 notifying all parties concerned of such 349 action, all liability on the part of Agent shall fully terminate, except to the 292 extent of accounting for any items previously 350 delivered out of escrow. If a licensed real estate broker, Agent will 293 comply with provisions of Chapter 475, F.S., as 351 amended and FREC rules to timely resolve escrow disputes through 294 mediation, arbitration, interpleader or an escrow 352 disbursement order. 295 In any 353 Any proceeding between Buyer and Seller wherein Agent is made a party because of acting as Agent hereunder, 296 or in 354 any proceeding where Agent interpleads the subject matter of the escrow, Agent shall recover reasonable 297 attorney’s 355 fees and costs incurred, to be paid pursuant to court order out of the escrowed funds or equivalent. Agent 298 shall not be 356 liable to any party or person for mis-delivery of any escrowed items, unless such mis-delivery is due to 299 Agent’s willful 357 breach of this Contract or Agent’s gross negligence. This Paragraph 13 shall survive Closing or 300 termination of this 358 Contract.

ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES. At 333 All repairs and replacements shall be completed in a good and workmanlike manner by an appropriately licensed 334 person, in accordance with all requirements of law, and shall consist of materials or items of quality, value, capacity 335 and performance comparable to, or better than, that existing as of the Effective Date. Except as provided in 336 Paragraph 12(c)(ii), at Buyer’s option and 278 cost, Seller will, at Closing, assign all assignable repair, treatment and 337 maintenance contracts and warranties 279 to Buyer. 280 338 ESCROW AGENT AND BROKER 281 339 13. ESCROW AGENT: Any Closing Agent or Escrow Agent (collectively “Agent”) receiving the Deposit, other funds 282 and 340 other items is authorized, and agrees by acceptance of them, to deposit them promptly, hold same in escrow 283 within the 341 State of Florida and, subject to COLLECTION, disburse them in accordance with terms and conditions 284 of this Contract. 342 Failure of funds to become COLLECTED shall not excuse BuyerXxxxx’s performance. When conflicting 285 demands for the 343 Deposit are received, or Agent has a good faith doubt as to entitlement to the Deposit, Agent may 286 take such actions 344 permitted by this Paragraph 13, as Agent deems advisable. If in doubt as to Agent’s duties or 287 liabilities under this 345 Contract, Agent may, at Agent’s option, continue to hold the subject matter of the escrow until 288 the parties agree to its 346 disbursement or until a final judgment of a court of competent jurisdiction shall determine 289 the rights of the parties, or 347 Agent may deposit same with the clerk of the circuit court having jurisdiction of the 290 dispute. An attorney who represents 348 a party and also acts as Agent may represent such party in such action. Upon 291 notifying all parties concerned of such 349 action, all liability on the part of Agent shall fully terminate, except to the 292 extent of accounting for any items previously 350 delivered out of escrow. If a licensed real estate broker, Agent will 293 comply with provisions of Chapter 475, F.S., as 351 amended and FREC rules to timely resolve escrow disputes through 294 mediation, arbitration, interpleader or an escrow 352 disbursement order. 295 In any 353 Any proceeding between Buyer Xxxxx and Seller wherein Agent is made a party because of acting as Agent hereunderxxxxxxxxx, 296 or in 354 any proceeding where Agent interpleads the subject matter of the escrow, Agent shall recover reasonable 297 attorney’s 355 fees and costs incurred, to be paid pursuant to court order out of the escrowed funds or equivalent. Agent 298 shall not be 356 liable to any party or person for mis-delivery of any escrowed items, unless such mis-delivery is due to 299 Agent’s willful 357 breach of this Contract or Agent’s gross negligence. This Paragraph 13 shall survive Closing or 300 termination of this 358 Contract.