Common use of Deposit and Escrow Clause in Contracts

Deposit and Escrow. 1.6.1 Within three (3) Business Days after the Effective Date, Buyer shall deliver to GRS Global, Attn: Lxxxx Xxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219, Telephone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money deposit in the amount of Fifty Thousand and No/100 Dollars ($50,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this Agreement. The Escrow Holder may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 The Deposit shall be applied to the Purchase Price if the Closing occurs. After the expiration of the Due Diligence Period, the Deposit shall be nonrefundable to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to Seller’s breach or default under this Agreement, a failure of a representation or warranty by Seller to be true and correct as of the Closing or due to the failure of a condition precedent set forth in Section 5.2, and shall constitute liquidated damages to Seller if escrow fails to close solely as a result of Buyer’s default as provided in Section 6.1 below. In the event Buyer shall elect to terminate this Agreement during the Due Diligence Period, the Deposit shall be returned to Buyer as provided in Section 3.6 below.

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days after the Effective Date, Buyer shall deliver to GRS Global, Attn: Lxxxx XxxxxxSxxxx Xxxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219, Telephone: (000) 000000)000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx sxxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money deposit in the amount of Fifty Thousand ten thousand and No/100 Dollars ($50,000.0010,000) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this Agreement. The Escrow Holder may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 1.4.2 The Deposit shall be applied to the Purchase Price if the Closing occurs. After the expiration of the Due Diligence Period, the Deposit shall be nonrefundable to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to Seller’s breach or default under this Agreement, a failure of a representation or warranty by Seller to be true and correct as of the Closing or due to the failure of a condition precedent set forth in Section 5.25.4, and shall constitute liquidated damages to Seller if escrow fails to close solely as a result of Buyer’s default as provided in Section 6.1 below. In the event Buyer shall elect to terminate this Agreement during the Due Diligence Period, the Deposit shall be returned to Buyer as provided in Section 3.6 below.

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days after the latter of (a) the Effective DateDate or (b) the receipt of all of the Property Information (as described in Section 3.3), Buyer shall deliver to GRS GlobalEscrow Agent at the following address: 0000 Xxxxxx Xxxx, Suite 300, Longview, Texas 75605 Attn: Lxxxx XxxxxxXxxxx Xxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219, Telephone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money a deposit in the amount of Fifty Thousand One Million and No/100 Dollars ($50,000.001,000,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this AgreementBuyer. The Escrow Holder Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or facsimile, or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 1.4.2 The Deposit shall be applied to the Purchase Price if the Closing (as defined below) occurs. After the expiration Upon delivery of the Due Diligence PeriodBuyer’s Approval Notice (as defined below), the Deposit shall not be nonrefundable returned to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to (i) Seller’s breach or default under this Agreement, (ii) a failure of a representation or warranty by Seller to be true and correct as of the Closing or due to the Closing, (iii) a failure of a condition precedent set forth in Section 5.25.4, and shall constitute liquidated damages or (iv) any other reason that entitles Buyer to Seller if escrow fails to close solely as a result of Buyer’s default have the Deposit returned as provided in Section 6.1 belowfor herein. In the event Buyer shall elect to terminate or shall be deemed to have terminated this Agreement during the Due Diligence PeriodPeriod (as defined below), or as otherwise provided in this Agreement, the Deposit (and any interest accrued thereon) shall be returned to Buyer as provided in Section 3.6 below3.6.

Deposit and Escrow. 1.6.1 1.4.1 Within three two (32) Business Days after the Effective Date, Buyer shall deliver to GRS GlobalEscrow Agent at the following address: Chicago Title Insurance Company, Attn: Lxxxx 0000 Xxxxx Xxxxxx, located at 900 X. Xxxx StreetSuite 800, Suite 1100Dallas, RichmondTexas 75201, Virginia 23219Attention: Xxxxxxx Xxxxxx, TelephonePhone: (000) -000-0000, EFacsimile: 000-mail000-0000, Email: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money xxxxxxx@xxx.xxx, a deposit in the amount of Fifty Five Hundred Thousand and No/100 Dollars ($50,000.00500,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of Buyer. For purposes of this Agreement the party entitled to the Deposit term “Deposit” shall include any and all interest earned thereon, and shall also include any additional deposit made by Buyer pursuant to the terms of this AgreementSection 1.5 below. The Escrow Holder Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or facsimile, or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 1.4.2 The Deposit shall be applied to the Purchase Price if the Closing (as defined below) occurs. After the expiration Upon delivery of the Due Diligence PeriodBuyer's Approval Notice (as defined below), the Deposit shall not be nonrefundable returned to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to (i) Seller’s 's breach or default under this Agreement, (ii) a failure of a representation or warranty by Seller to be true and correct in all material respects as of the Closing or due to the Closing, (iii) a failure of a condition precedent set forth in Section 5.25.4, and shall constitute liquidated damages or (iv) any other reason that entitles Buyer to Seller if escrow fails to close solely have the Deposit returned as a result of Buyer’s default as otherwise provided in Section 6.1 belowthis Agreement. In the event Buyer shall elect to terminate this Agreement during the Due Diligence PeriodPeriod (as defined below) or under circumstances that entitle Buyer to have the Deposit returned as provided for herein, the Deposit shall be returned to Buyer as provided in Section 3.6 below.

Deposit and Escrow. 1.6.1 1.3.1 Within three (3) Business Days after the Effective Dateexecution of this Agreement by both Buyer and Seller, Buyer shall deliver to GRS GlobalEscrow Agent, Attn: Lxxxx whose contact information is 0000 Xxxxx Xxxxxx, located at 900 X. Xxxx StreetSuite 800, Suite 1100Dallas, RichmondTexas 75201, Virginia 23219, Telephone: (000) 000-0000, E-mailAttn: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money Xxxxxxx Xxxxxx, by wire transfer in accordance with the instructions set forth on Schedule 1.3.1 hereto a deposit in the amount of Fifty Five Hundred Thousand and No/100 00/100 Dollars ($50,000.00500,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). In addition, as independent consideration for the rights and benefits granted to Buyer, One Hundred and 00/100 Dollars ($100.00) of the Deposit is independent consideration hereunder and is non-refundable, and is immediately released by Escrow Agent to Seller and immediately becomes the property of Seller upon execution and delivery of this Agreement by Buyer (and thus all references to a return of the Deposit to Buyer shall mean the $500,000.00 less the $100 non-refundable portion.) The Deposit shall be held in an insured, interest-bearing escrow account at a bank reasonably acceptable to both Seller and Buyer with interest accruing for the benefit of the party entitled to the Deposit (and at Closing (as defined below) or such other date upon which the Deposit is released pursuant to the terms of this Agreementhereof, the interest will be paid to the party entitled to the Deposit). The Escrow Holder Agent may conclusively rely upon and act act, subject to the escrow provisions of this Agreement, in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or facsimile, or other written instrument believed to be genuine and to have been signed or communicated by the proper party or partiesparties entitled to deliver same to Escrow Agent under this Agreement. 1.6.2 1.3.2 The Deposit shall be applied to the Purchase Price if the Closing occurs. After Unless Buyer delivers a Termination Notice (as defined below) on or prior to the expiration of the Due Diligence PeriodPeriod (as defined below), the Deposit shall thereafter become non-refundable to Buyer, except where this Agreement expressly provides that the Deposit shall be nonrefundable returned to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to Seller’s breach or default under upon the termination of this Agreement, a failure of a representation or warranty by Seller to be true and correct as of the Closing or due to the failure of a condition precedent set forth in Section 5.2, and shall constitute liquidated damages to Seller if escrow fails to close solely as a result of Buyer’s default as provided in Section 6.1 below. In the event If Buyer shall elect to terminate this Agreement during on or prior to the expiration of the Due Diligence Period, the Deposit shall be returned to Buyer as provided in Section 3.6 below3.6.

Deposit and Escrow. 1.6.1 1.3.1 Within three (3) Business Days after of the Effective Date, Buyer shall deliver to GRS Global, AttnEscrow Agent at the following address: Lxxxx 000 Xxxxx Xxxxxxxx Xxxxxx, located at 900 X. Xxxx StreetSuite 400, Suite 1100Los Angeles, RichmondCalifornia 90017, Virginia 23219attention: Xxxxx Xxxxxxxx, Telephonetelephone: (000) 000-0000, Efacsimile: (000) 000-0000, e-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money xxxxxxxxxx@xxxxxxx.xxx, a deposit in the amount of Fifty Two Hundred Thousand and No/100 Dollars ($50,000.00200,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this AgreementBuyer. The Escrow Holder Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or facsimile, or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 1.3.2 The Deposit shall be applied to the Purchase Price if the Closing (as defined below) occurs. After the expiration Upon delivery of the Due Diligence PeriodBuyer’s Approval Notice (as defined in Section 3.5), the Deposit shall not be nonrefundable returned to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to (i) Seller’s breach or default under this Agreement, (ii) a failure of a representation or warranty by Seller to be materially true and correct as of the Closing or due to the Closing, (iii) a failure of a condition precedent set forth in Section 5.25.4, and shall constitute liquidated damages or (iv) any other reason that entitles Buyer to Seller if escrow fails to close solely have the Deposit (less the Independent Contract Consideration, as a result of Buyer’s default defined in Section 1.3.3) returned as provided in Section 6.1 belowfor herein. In the event Buyer shall elect to terminate or shall be deemed to have terminated this Agreement during the Due Diligence PeriodPeriod (as defined below), or as otherwise provided in this Agreement, the Deposit (and any interest accrued thereon) (less the Independent Contract Consideration) shall be returned to Buyer as provided in Section 3.6 below3.6.

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days after the Effective Date, Buyer shall deliver to GRS GlobalXxxxx Title, Attn: Lxxxx XxxxxxXxxxx Xxxxxxx, located at 900 X. Xxxx Street0000 Xxxxxxxx Xxxxxxx Xxxxx, Suite 1100Xxxxx 000, RichmondXxxxxxxx, Virginia 23219Xxxxxxxx 00000, Telephone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx xxxxx@xxxxxxxxxx.xxx (“Escrow Holder”) an exxxxxx xxxxxxx money deposit in the amount of Fifty Thousand ten thousand and No/100 Dollars ($50,000.0010,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, insured interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this Agreement. The Escrow Holder may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 1.4.2 The Deposit shall be applied to the Purchase Price if the Closing occurs. After the expiration of the Due Diligence PeriodPeriod (as hereinafter defined), the Deposit shall be nonrefundable to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to Seller’s breach or default under this Agreement, a failure of a representation or warranty by Seller to be true and correct as of the Closing or due to the failure of a condition precedent set forth in Section 5.2, and shall constitute liquidated damages to Seller if escrow fails to close solely as a result of Buyer’s default as provided in Section 6.1 below. In the event Buyer shall elect to terminate this Agreement during the Due Diligence Period, the Deposit shall be returned to Buyer as provided in Section 3.6 below.

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days after the latter of (a) the Effective DateDate or (b) the receipt of all of the Property Information (as described in Section 3.3) which is in Seller’s possession, Buyer shall deliver to GRS GlobalEscrow Agent at the following address: 000 X. Xxxxxxxx, Suite 400, Los Angeles, California 90017, Attn: Lxxxx Xxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219Xxxxx Xxxxxxxx, Telephone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money xxxxxxxxxx@xxxxxxx.xxx, a deposit in the amount of Two Hundred Fifty Thousand and No/100 Dollars ($50,000.00250,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this AgreementBuyer. The Escrow Holder Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or facsimile, or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 1.4.2 The Deposit shall be applied to the Purchase Price if the Closing (as defined below) occurs. After the expiration Upon delivery of the Due Diligence PeriodBuyer’s Approval Notice (as defined below), the Deposit shall not be nonrefundable returned to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to (i) Seller’s breach or default under this Agreement, (ii) a failure of a representation or warranty by Seller to be true and correct as of the Closing Closing, or due to the (iii) a failure of a condition precedent set forth in Section 5.2, and shall constitute liquidated damages to Seller if escrow fails to close solely as a result of Buyer’s default as provided in Section 6.1 below5.4. In the event Buyer shall elect to terminate or shall be deemed to have terminated this Agreement during the Due Diligence PeriodPeriod (as defined below), or as otherwise provided in this Agreement, the Deposit (and any interest accrued thereon) shall be returned to Buyer as provided in Section 3.6 below3.6.

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days after the Effective Date, Buyer shall deliver to GRS GlobalEscrow Agent at the following address: First American Title Company, 000 Xxxxx Xxxxxxxx Xxxxxx, Fourth Floor, Los Angeles, California 90017, Attn: Lxxxx Xxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219, TelephoneXxxxxxx Xxxxxx (xxxxxxx@xxxxxxx.xxx) Phone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money a deposit in the amount of Fifty Two Hundred Thousand and No/100 Dollars ($50,000.00200,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant Buyer subject to the terms of this Agreement. For purposes of this Agreement the term “Deposit” shall include any and all interest earned thereon. The Escrow Holder Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or facsimile, or other written instrument believed in good faith to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 1.4.2 The Deposit shall be applied to the Purchase Price if the Closing (as defined below) occurs. After the expiration Upon delivery of the Due Diligence PeriodBuyer’s Approval Notice (as defined below), the Deposit shall not be nonrefundable returned to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to (i) Seller’s breach or default under this Agreement, (ii) a failure of a representation or warranty by Seller to be true and correct as of the Closing or due that gives Buyer the right to the terminate this Agreement as may be set forth herein, (iii) a failure of a condition precedent set forth in Section 5.25.4, and shall constitute liquidated damages or (iv) any other reason that entitles Buyer to Seller if escrow fails to close solely as a result of Buyer’s default have the Deposit returned as provided in Section 6.1 belowfor herein. In the event Buyer shall elect to terminate or shall be deemed to have terminated this Agreement during the Due Diligence PeriodPeriod (as defined below), or to have rightfully terminated this Agreement as otherwise provided in this Agreement, the Deposit shall be returned to Buyer as provided in Section 3.6 below.

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days after the Effective Datemutual execution of this Agreement by Seller and Buyer, Buyer shall deliver to GRS GlobalEscrow Agent at the following address: 0000 Xxxxx Xxxxxx, Suite 800, Dallas, Texas 75201, Attn: Lxxxx Xxxxxxx Xxxxxx, located at 900 X. Xxxx StreetE-mail: xxxxxxx@xxx.xxx, Suite 1100, Richmond, Virginia 23219, TelephonePhone: (000) 000-0000, EFacsimile: (000) 000-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money 0000, a deposit in the amount of Fifty Two Hundred Thousand and No/100 Dollars ($50,000.00200,000.00) (together with any interest thereon, the “Initial Deposit”). In the event Buyer exercises the Closing Extension (as defined in Section 1.5 hereof), Buyer shall deliver to Escrow Agent an additional deposit of One Hundred Thousand and together with No/100s Dollars ($100,000.00) (the “Additional Deposit”). Collectively, the Initial Deposit and the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively herein as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this AgreementBuyer. The Escrow Holder Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or facsimile, or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 1.4.2 The Deposit shall be applied to the Purchase Price if the Closing (as defined below) occurs. After the expiration Upon delivery of the Due Diligence PeriodBuyer’s Approval Notice (as defined below), the Deposit shall not be nonrefundable returned to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to (i) Seller’s breach or default under this Agreement, (ii) a failure of a representation or warranty by Seller to be true and correct as of the Closing or due to the Closing, (iii) a failure of a condition precedent set forth in Section 5.25.4, and shall constitute liquidated damages or (iv) any other reason that entitles Buyer to Seller if escrow fails to close solely as a result of Buyer’s default have the Deposit returned as provided in Section 6.1 belowfor herein. In the event Buyer shall elect to terminate or shall be deemed to have terminated this Agreement during the Due Diligence PeriodPeriod (as defined below), or as otherwise provided in this Agreement, the Deposit (and any interest accrued thereon) shall be returned to Buyer as provided in Section 3.6 below3.6.

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days after the Effective Date, Buyer shall deliver to GRS Global, Attn: Lxxxx XxxxxxSxxxx Xxxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219, Telephone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx sxxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money deposit in the amount of Fifty Thousand ten thousand and No/100 Dollars ($50,000.0010,000) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this Agreement. The Escrow Holder may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 1.4.2 The Deposit shall be applied to the Purchase Price if the Closing occurs. After the expiration of the Due Diligence Period, the Deposit shall be nonrefundable to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to Seller’s breach or default under this Agreement, a failure of a representation or warranty by Seller to be true and correct as of the Closing or due to the failure of a condition precedent set forth in Section 5.25.4, and shall constitute liquidated damages to Seller if escrow fails to close solely as a result of Buyer’s default as provided in Section 6.1 below. In the event Buyer shall elect to terminate this Agreement during the Due Diligence Period, the Deposit shall be returned to Buyer as provided in Section 3.6 below.

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days after the Effective Date, Buyer shall deliver to GRS GlobalEscrow Agent at the following address: 000 X. Xxxxxxxx, Suite 400, Los Angeles, California 90017, Attn: Lxxxx Xxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219Xxxxx Xxxxxxxx, Telephone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money xxxxxxxxxx@xxxxxxx.xxx, a deposit in the amount of One Hundred Fifty Thousand and No/100 Dollars ($50,000.00150,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this AgreementBuyer. The Escrow Holder Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or facsimile, or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 1.4.2 The Deposit shall be applied to the Purchase Price if the Closing (as defined below) occurs. After the expiration Upon delivery of the Due Diligence PeriodBuyer’s Approval Notice (as defined below), the Deposit shall not be nonrefundable returned to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to (i) Seller’s breach or default under this Agreement, (ii) a failure of a representation or warranty by Seller to be true and correct as of the Closing or due to the Closing, (iii) a failure of a condition precedent set forth in Section 5.25.4, and shall constitute liquidated damages or (iv) any other reason that entitles Buyer to Seller if escrow fails to close solely have the Deposit returned as a result of Buyer’s default as expressly provided in Section 6.1 belowfor herein. In the event Buyer shall elect to terminate or shall be deemed to have terminated this Agreement during the Due Diligence PeriodPeriod (as defined below), or as otherwise provided in this Agreement, the Deposit (and any interest accrued thereon) shall be returned to Buyer as provided in Section 3.6 below3.6.

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days (as defined below) after the Effective Date, Buyer shall deliver to GRS GlobalEscrow Agent at the following address: 000 Xxxxx Xxxxxxxx Xxxxxx, Fourth Floor Los Angeles, California 90017 Attn: Lxxxx Xxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219, TelephoneXxxxxxx Xxxxxx (xxxxxxx@xxxxxxx.xxx) Phone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money a deposit in the amount of Three Hundred Fifty Thousand and No/100 Dollars ($50,000.00350,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). In addition, Buyer shall deposit with Seller $100.00, as an additional deposit, which is non-refundable and immediately becomes the property of Seller upon execution and delivery of this Agreement. The Deposit may be delivered by wire transfer in accordance with the instructions set forth on Schedule 1.4 hereto, or by check, and in either case, shall be held in an insuredinsured (up to $250,000), interest-bearing account at First American Trust FSB with interest accruing for the benefit of the party entitled to the Deposit (and at Closing or such other date upon which the Deposit is released pursuant to the terms of this Agreementhereof, the interest will be paid to the party entitled to the Deposit). The Escrow Holder Agent may conclusively rely upon and act act, subject to the escrow provisions of this Agreement, in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or facsimile, or other written instrument believed to be genuine and to have been signed or communicated by the proper party or partiesparties entitled to deliver same to Escrow Agent under this Agreement. 1.6.2 1.4.2 The Deposit (and any interest accrued thereon) shall be applied to the Purchase Price if the Closing (as defined below) occurs. After the expiration Upon delivery of the Due Diligence PeriodBuyer’s Approval Notice (as defined below), the Deposit shall not be nonrefundable returned to Buyer except other than in accordance with Section 5.2 and unless escrow fails to close due to any reason that expressly entitles Buyer to have the Deposit (or applicable portion thereof) returned as otherwise provided for herein, including, without limitation, unless escrow fails to close due to Seller’s breach or default under this Agreementany reason provided in Sections 1.7, a failure of a representation or warranty by Seller to be true and correct as of the Closing or due to the failure of a condition precedent set forth in Section 5.22.3, 2.4, 2.6, 3.6, 5.4, 5.5, 6.2, 7.1, and shall constitute liquidated damages to Seller if escrow fails to close solely as a result of Buyer’s default as provided in Section 6.1 below. In the event Buyer shall elect to terminate this Agreement during the Due Diligence Period, the Deposit shall be returned to Buyer as provided in Section 3.6 below7.

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days after the Effective Date, Buyer shall deliver to GRS GlobalEscrow Agent at the following address: First American Title Insurance Company, 000 Xxxxx Xxxxxxxx Xxxxxx, Fourth Floor Los Angeles, California 90017 Attn: Lxxxx Xxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219, TelephoneXxxxxxx Xxxxxx (xxxxxxx@xxxxxxx.xxx) Phone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money a deposit in the amount of Fifty Two Hundred Thousand and No/100 Dollars ($50,000.00200,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms Buyer. For purposes of this AgreementAgreement the term “Deposit” shall include any and all interest earned thereon. The Escrow Holder Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or facsimile, or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 1.4.2 The Deposit shall be applied to the Purchase Price if the Closing (as defined below) occurs. After the expiration Upon delivery of the Due Diligence PeriodBuyer’s Approval Notice (as defined below), the Deposit shall not be nonrefundable returned to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to (i) Seller’s breach or default under this Agreement, (ii) a failure of a representation or warranty by Seller to be true and correct as of the Closing or due to the Closing, (iii) a failure of a condition precedent set forth in Section 5.25.4, and shall constitute liquidated damages or (iv) any other reason that entitles Buyer to Seller if escrow fails to close solely as a result of Buyer’s default have the Deposit returned as provided in Section 6.1 belowfor herein. In the event Buyer shall elect to terminate or shall be deemed to have terminated this Agreement during the Due Diligence PeriodPeriod (as defined below), or as otherwise provided in this Agreement, the Deposit shall be returned to Buyer as provided in Section 3.6 below.

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days after the latter of (a) the Effective DateDate or (b) the receipt of all of the Property Information (as described in Section 3.3), Buyer shall deliver to GRS GlobalEscrow Agent at the following address: 000 X. Xxxxxxxx, Suite 400, Los Angeles, California 90017, Attn: Lxxxx Xxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219Xxxxx Xxxxxxxx, Telephone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money xxxxxxxxxx@xxxxxxx.xxx, a deposit in the amount of Fifty Two Hundred Thousand and No/100 Dollars ($50,000.00200,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this AgreementBuyer. The Escrow Holder Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or facsimile, or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 1.4.2 The Deposit shall be applied to the Purchase Price if the Closing (as defined below) occurs. After the expiration Upon delivery of the Due Diligence PeriodBuyer’s Approval Notice (as defined below), the Deposit shall not be nonrefundable returned to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to (i) Seller’s breach or default under this Agreement, (ii) a failure of a representation or warranty by Seller to be true and correct as of the Closing or due to the Closing, (iii) a failure of a condition precedent set forth in Section 5.25.4, and shall constitute liquidated damages or (iv) any other reason that entitles Buyer to Seller if escrow fails to close solely as a result of Buyer’s default have the Deposit returned as provided in Section 6.1 belowfor herein. In the event Buyer shall elect to terminate or shall be deemed to have terminated this Agreement during the Due Diligence PeriodPeriod (as defined below), or as otherwise provided in this Agreement, the Deposit (and any interest accrued thereon) shall be returned to Buyer as provided in Section 3.6 below3.6.

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days after of the Effective Date, Buyer shall deliver to GRS GlobalEscrow Agent at the following address: 000 X. Xxxxxxxx, Suite 400, Los Angeles, California 90017, Attn: Lxxxx Xxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219Xxxxx Xxxxxxxx, Telephone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money xxxxxxxxxx@xxxxxxx.xxx, with confirmation provided to Seller, a deposit in the amount of Fifty Three Hundred Thousand and No/100 Dollars ($50,000.00300,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this AgreementBuyer. The Escrow Holder Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or facsimile, or other written instrument believed to be genuine and to have been signed or communicated by the proper and required party or parties. 1.6.2 1.4.2 The Deposit shall be applied to the Purchase Price if the Closing (as defined below) occurs. After the Upon expiration of the Due Diligence PeriodPeriod (as defined below), the Deposit shall not be nonrefundable returned to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to (i) Seller’s breach or default under this Agreement, (ii) a failure of a representation or warranty by Seller to be true and correct as of the Closing or due to the Closing, (iii) a failure of a condition precedent set forth in Section 5.25.4, and shall constitute liquidated damages or (iv) any other reason that entitles Buyer to Seller if escrow fails to close solely as a result of Buyer’s default have the Deposit returned as provided in Section 6.1 belowfor herein. In the event Buyer shall elect to terminate this Agreement during the Due Diligence PeriodPeriod (as defined below), or as otherwise provided in this Agreement, the Deposit (and any interest accrued thereon) shall be returned to Buyer as provided in Section 3.6 below3.6.

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days (as defined below) after the Effective Date, Buyer shall deliver to GRS GlobalEscrow Agent at the following address: 000 Xxxxx Xxxxxx Xxxxxx, Xxxxx 0000, Xxx Xxxxxxx, XX 00000 Attn: Lxxxx XxxxxxXxxxxx Xxxxxxx, located at 900 X. Xxxx StreetVice President, Suite 1100, Richmond, Virginia 23219, TelephoneSpecial Projects (xxxxxxx@xxx.xxx) Phone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money a deposit in the form of cash or a wire transfer of immediately available funds in the amount of Three Hundred Fifty Seven Thousand Eight Hundred and No/100 Dollars ($50,000.00357,800.00) (together with any interest thereon, the “"Initial Deposit”), and together with within one (1) Business Day following the expiration of the Due Diligence Period (defined in Section 3.2), assuming Buyer has not previously terminated this Agreement, Buyer shall deliver to Escrow Agent an additional good faith deposit (the "Additional Deposit”) of One Hundred Seventy Eight Thousand Nine Hundred and No/100 Dollars ($178,900.00). The Initial Deposit and the Additional Deposit (defined below), if made, and any interest earned thereon, shall be collectively referred to collectively herein as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the Buyer. All interest earned on the Deposit shall be reported to the Internal Revenue Service as the income of Buyer. Buyer shall promptly execute such documents as the Escrow Agent may reasonably request to report properly such income. If Buyer fails to deposit the Initial Deposit in accordance with this Section, this Agreement shall terminate and neither Seller nor Buyer shall have any further rights, obligations or liabilities to the other party arising out of or resulting from this Agreement except as follows: Buyer shall return to Seller: (i) all Property Information (as defined below); and (ii) all information provided by Seller as part of the Exhibits and Schedules to this Agreement. In the event Buyer fails to deposit the Initial Deposit in accordance with this Section, Seller’s remedies shall be limited to receipt of such materials, and in no event shall Seller be entitled to the Initial Deposit. Failure to timely deliver the Additional Deposit pursuant to the terms (after notice and expiration of this Agreement. The Escrow Holder may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or other written instrument believed to be genuine and to have been signed or communicated applicable cure period) shall constitute a default by the proper party or partiesBuyer. 1.6.2 1.4.2 The Deposit (and any interest accrued thereon) shall be applied to the Purchase Price if the Closing (as defined below) occurs. After the expiration Upon delivery of the Due Diligence PeriodBuyer’s Approval Notice (as defined below), the Deposit shall not be nonrefundable returned to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to (i) Seller’s breach or default under this Agreement, (ii) a failure of a representation or warranty by Seller to be true and correct as of the Closing or due to the Closing, (iii) a failure of a condition precedent set forth in Section 5.2to Buyer’s obligation to close, and shall constitute liquidated damages (iv) any other reason that entitles Buyer to Seller if escrow fails to close solely as a result of Buyer’s default have the Deposit returned as provided in Section 6.1 below. In the event Buyer shall elect to terminate this Agreement during the Due Diligence Periodfor herein, the Deposit shall be returned to Buyer as including, without limitation, any reason provided in Section 3.6 below.Sections 3.6, 6.2, 7.1

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days after the Effective Date, Buyer shall deliver to GRS GlobalEscrow Agent at the following address: 0000 Xxxxx Xxxxxx, Suite 800, Dallas, Texas 75201, Attn: Lxxxx Xxxxxxx Xxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219, Telephone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money xxxxxxx@XXX.xxx, a deposit in the amount of One Hundred Fifty Thousand and No/100 Dollars ($50,000.00150,000.00) (together with any interest thereon, the “Initial Deposit”). Promptly after the expiration of the Due Diligence Period (as defined in Section 3.2), provided that this Agreement has not then been terminated, Buyer shall deliver to Escrow Agent, an additional non-refundable (except as otherwise set forth herein) deposit of One Hundred Fifty Thousand and No/100 Dollars ($150,000.00) (together with any interest thereon, the “Additional Deposit”, and together with the Additional Deposit (defined below)Initial Deposit, if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this AgreementBuyer. The Escrow Holder Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or facsimile, or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 1.4.2 The Deposit shall be applied to the Purchase Price if the Closing (as defined below) occurs. After the expiration Upon delivery of the Due Diligence PeriodBuyer’s Approval Notice (as defined below), the Deposit shall be nonrefundable to Buyer become non-refundable and fully earned by Seller, except as otherwise provided herein, including, without limitation, unless escrow fails to close due to in the event of (i) Seller’s uncured breach or default default, or otherwise expressly provided under this Agreement; or (ii) despite Buyer’s best efforts, a failure of a representation or warranty by Seller final approval to be true and correct as Buyer’s assumption of the Closing Loan (as defined in Section 1.6, infra) is not obtained on or due prior to expiration of the failure of a condition precedent Loan Assumption Approval Period, as set forth and defined in Section 5.21.6, and shall constitute liquidated damages to Seller if escrow fails to close solely as a result of Buyer’s default as provided in Section 6.1 belowinfra. In the event Buyer shall elect to terminate or shall be deemed to have terminated this Agreement during the Due Diligence PeriodPeriod (as defined below), or as otherwise provided in this Agreement, the Deposit (and any interest accrued thereon) shall be returned to Buyer as provided in Section 3.6 below3.6.

Deposit and Escrow. 1.6.1 1.4.1 Within three (3) Business Days after the Effective Date, Buyer shall deliver to GRS GlobalEscrow Agent at the following address: 000 Xxxxx Xxxxxxxx Xxxxxx, 4th Floor, Los Angeles, CA 90017, Attn: Lxxxx Xxxxxx, located at 900 X. Xxxx Street, Suite 1100, Richmond, Virginia 23219Xxxxx Xxxxxxxx, Telephone: (000) 000-0000, E-mail: lxxxxxx@xxx-xxxxxx.xxx (“Escrow Holder”) an exxxxxx money xxxxxxxxx@xxxxxxx.xxx, a deposit in the amount of Two Hundred Fifty Thousand and No/100 Dollars ($50,000.00250,000.00) (together with any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below), if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit pursuant to the terms of this AgreementBuyer. The Escrow Holder Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile and/or facsimile, or other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. 1.6.2 1.4.2 The Deposit shall be applied to the Purchase Price if the Closing (as defined below) occurs. After the expiration Upon delivery of the Due Diligence PeriodBuyer’s DDP Waiver Notice (as defined below), the Deposit shall not be nonrefundable returned to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close due to (i) Seller’s breach or default under this Agreement, (ii) a failure of a representation or warranty by Seller to be true and correct as of the Closing or due to the Closing, (iii) a failure of a condition precedent set forth in Section 5.25.4, and shall constitute liquidated damages or (iv) any other reason that entitles Buyer to Seller if escrow fails to close solely as a result of Buyer’s default have the Deposit returned as provided in Section 6.1 belowfor herein. In the event Buyer shall elect to terminate or shall be deemed to have terminated this Agreement during the Due Diligence PeriodPeriod (as defined below), or as otherwise provided in this Agreement, the Deposit (and any interest accrued thereon) shall be returned to Buyer as provided in Section 3.6 below3.6.