Common use of Disbursement of Escrowed Funds Clause in Contracts

Disbursement of Escrowed Funds. Escrow agent shall hold the escrow funds until it receives written notice from County that a building permit (as described in Paragraph 1 above) for the development has been approved. Within ten (10) days after receipt of notice from County, escrow agent shall disburse the funds to the County. Building permits to be issued simultaneous with dispersal of funds. Any accrued interest earned on the escrow account shall be disbursed to the County.

Appears in 8 contracts

Samples: Transfer of Development Rights Escrow Agreement, Transfer of Development Rights Escrow Agreement, Transfer of Development Rights Escrow Agreement

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Disbursement of Escrowed Funds. Escrow agent shall hold the escrow funds until it receives written notice from County that a building permit (as described in Paragraph 1 above) for the development has been approved. Within ten (10) days after receipt of notice from County, Developer directs escrow agent shall to disburse the funds to the County. Building permits to be issued simultaneous with dispersal issued, if all other applicable requirements are met, disbursement of fundsfunds to the County. Any accrued interest earned on the escrow account shall be disbursed to the County.

Appears in 2 contracts

Samples: Transfer of Development Rights Escrow Agreement, Contract for the Sale and Purchase of Development Rights

Disbursement of Escrowed Funds. Escrow agent shall hold the escrow funds until it receives written notice from County that a building permit (as described in Paragraph 1 above) for the development has been approved. Within ten (10) days after receipt of notice from County, Developer directs escrow agent shall to disburse the funds to the County. Building permits to be issued simultaneous with dispersal issued, if all other applicable requirements are met, after disbursement of fundsfunds to the County. Any accrued interest earned on the escrow account shall be disbursed to the County.

Appears in 2 contracts

Samples: Contract for the Sale and Purchase of Development Rights, Contract for the Sale and Purchase of Development Rights

Disbursement of Escrowed Funds. The Escrow agent Agent shall hold the escrow escrowed funds until it receives written notice from the County that a building permit (as described in Paragraph 1 above) for to the development has been approvedamount of impact fees due. The notice from the County shall establish the amount due the County from escrow funds. Within ten (10) days after receipt of notice from County, escrow agent shall disburse the funds to the County. Building permits to be issued simultaneous with dispersal of funds. Any accrued interest earned on the escrow account shall be disbursed to the County.ten

Appears in 2 contracts

Samples: Impact Fee Escrow Agreement, Impact Fee Escrow Agreement

Disbursement of Escrowed Funds. Escrow agent shall hold the escrow funds until it receives written notice from County that a building permit (as described in Paragraph 1 above) for the development has been approved. Within ten (10) days after receipt of notice from County, escrow agent shall disburse the funds to the County. Building permits to be issued simultaneous with dispersal of funds. Any accrued interest earned on the escrow account shall be disbursed to the County.. Petition Page Petition

Appears in 1 contract

Samples: Transfer of Development Rights Escrow Agreement

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Disbursement of Escrowed Funds. Escrow agent shall hold the escrow funds until it receives written notice from County that a building permit (as described in Paragraph 1 above) for the development has been approved. Within ten (10) days after receipt of notice from County, Developer directs escrow agent shall to disburse the funds to the County. Building permits to be issued simultaneous with dispersal issued, if all other applicable requirements are met, after disbursement of fundsfunds to County. Any accrued interest earned on the escrow account shall be disbursed to the County.

Appears in 1 contract

Samples: Transfer of Development Rights Escrow Agreement

Disbursement of Escrowed Funds. Escrow agent shall hold the escrow funds until it receives written notice from County that a building permit (as described in Paragraph 1 above) for the development has been approved. Within ten (10) days after receipt of notice from County, escrow agent shall disburse the funds to the County. Building permits to be issued simultaneous with dispersal of funds. Any accrued interest earned on the escrow account shall be disbursed to the County.

Appears in 1 contract

Samples: Contract for the Sale and Purchase of Development Rights

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