Release of Xxxxxxx Money. In the event a dispute arises prior to the release of xxxxxxx money held in escrow, the escrow holder shall retain said xxxxxxx money until one of the following occur:
1) A written release is executed by Xxxxx and Seller agreeing to its disbursement;
2) Agreement of disbursement is reached through Mediation;
3) Interpleader or legal action is filed, at which time the xxxxxxx money shall be deposited with the Court Clerk; or
4) The passage of thirty (30) days from the date of final termination of the Contract has occurred and options 1), 2) or 3) above has not been exercised; Broker escrow holder, at Xxxxxx’s discretion, may disburse xxxxxxx money. Such disbursement may be made only after fifteen (15) days written notice to Xxxxx and Seller at their last known address stating the escrow holder’s proposed disbursement.
Release of Xxxxxxx Money. In the event a dispute arises prior to the release of Xxxxxxx Money held in escrow, the escrow holder shall retain said Xxxxxxx Money until one of the following occur:
1) A written release is executed by Xxxxx and Seller agreeing to its disbursement;
2) Agreement of disbursement is reached through Mediation;
3) Interpleader or legal action is filed, at which time the Xxxxxxx Money shall be deposited with the Court Clerk; or
4) The passage of thirty (30) days from the date of final termination of the Contract has occurred and options 1), 2) or
Release of Xxxxxxx Money. In the event of a dispute regarding Xxxxxxx Money, where Buyer and Seller 228. cannot agree upon written, mutual cancellation, Buyer and Seller agree to participate in meditation. 229. Mediation must be initiated within seven (7) days of written cancellation by either party. In the event 230. mediation is not initiated within seven (7) days, Xxxxxxx Money shall be returned to the Buyer.
Release of Xxxxxxx Money. Upon expiration of the Feasibility Period, the Xxxxxxx Money shall be released to Seller and shall be nonrefundable to Buyer.
Release of Xxxxxxx Money. Upon receipt of a written request by Xxxxx or Seller for return or delivery of the xxxxxxx money, or failure of the transaction to close as provided for in this Contract, the holder shall promptly give the other party a copy of the request, and provide both parties a statement of how the holder proposes to distribute the xxxxxxx money.
Release of Xxxxxxx Money. Upon waiver of the Feasibility Contingency as described in this Agreement below, the Xxxxxxx Money (subject only to Seller's subsequent default hereunder) shall be completely non-refundable to Purchaser. Upon Seller's notice to the Title Company that Purchaser has waived the Feasibility Contingency, and that Seller has cured any Purchaser objections as described in Article 3 below, the Title Company shall immediately release the Xxxxxxx Money to Seller without need for further consent or instruction from Purchaser; it being agreed by Seller and Purchaser that the terms of this agreement shall constitute irrevocable escrow instructions (absent further written agreement signed by both Purchaser and Seller) to the Title Company to act as provided herein. ARTICLE 3.
Release of Xxxxxxx Money. In the event a dispute arises prior to the release of xxxxxxx money held in escrow, the escrow holder shall retain said xxxxxxx money until one of the following occur:
1) A written release is executed by Xxxxx and Seller agreeing to its disbursement;
2) Agreement of disbursement is reached through Mediation;
3) Interpleader or legal action is filed, at which time the xxxxxxx money shall be deposited with the Court Clerk; or
4) The passage of thirty (30) days from not been exercised; Broker escrow hol after fifteen (15) days written notice to 18. DELIVERY OF ACCEPTED OFFER OR COUN receive delivery of an accepted offer or count 19. NON-FOREIGN SELLER. Seller represents “foreign person” as it is defined in the For (“FIRPTA”). If either the sales price of the pr residence then, at the Closing, and as a condi to Buyer, signed under penalty of perjury con declaration to the effect that Seller is not a for 20.
Release of Xxxxxxx Money. In the event of a dispute between Buyer and Seller regarding Xxxxxxx Money deposited with Escrow Company, Buyer and Seller authorize Escrow Company to release Xxxxxxx Money pursuant to the terms and conditions of this Contract. Buyer and Seller specifically authorize Escrow Company to act in its sole and absolute discretion in the release of Xxxxxxx Money. Buyer and Seller agree to hold harmless and indemnify Escrow Company against any claim, action or lawsuit of any kind, and from any loss, judgment, or expense, including costs and reasonable attorneys' fees, arising from or relating in any way to the release of Xxxxxxx Money.
Release of Xxxxxxx Money. In the event of a dispute between Buyer and Seller regarding xxxxxxx money deposited with Escrow Company, Buyer and Seller authorize Escrow Company to release xxxxxxx money pursuant to the terms and conditions of this Contract. Buyer and Seller specifically authorize Escrow Company to act in its sole and absolute discretion in the release of xxxxxxx money. Buyer and Seller agree to hold harmless and indemnify Escrow Company against any claim, action or lawsuit of any kind, and from any loss, judgment, or expense, including costs and attorneys’ fees, arising from or relating in any way to the release of xxxxxxx money. Exclusions from Mediation: The following matters are excluded from mediation hereunder: (a) any action brought in the Small Claims Division of an Arizona Justice Court (up to $3,500), so long as the matter is not thereafter transferred or removed from the Small Claims Division; (b) judicial or nonjudicial foreclosure or other action or proceeding to enforce a deed of trust, mortgage, or agreement for sale; (c) an unlawful entry or detainer action; (d) the filing or enforcement of a mechanic’s lien; or (e) any matter that is within the jurisdiction of a probate court. The filing of a judicial action to enable the recording of a notice of pending action, or order of attachment, receivership, injunction, or other provisional remedies shall not constitute a waiver of the obligation to mediate under this provision, nor shall it constitute a breach of the duty to mediate. UNDER ARIZONA REVISED STATUTES SECTION §32-1155, A BUYER OF A DWELLING HAS THE RIGHT TO FILE A WRITTEN COMPLAINT AGAINST THE HOMEBUILDER WITH THE ARIZONA REGISTRAR OF CONTRACTORS WITHIN TWO YEARS OF THE COMMISSION OF AN ACT IN VIOLATION OF ARIZONA REVISED STATUTES SECTION §32-1154, SUBSECTION A. (BUYER’S INITIALS REQUIRED) Risk Of Loss: If there is any loss or damage to the Premises between the date of acceptance of this Contract and the Close of Escrow or possession, whichever is earlier, by reason of fire, vandalism, flood, earthquake, or act of God, the risk of loss shall be on the Seller, provided, however, that if the cost of repairing such loss or damage would exceed ten percent (10%) of the purchase price, either Seller or Buyer may elect to cancel the Contract by written notice.
Release of Xxxxxxx Money. The Escrow Agent shall release the Xxxxxxx Money now held by the Escrow Agent directly to Lender not later than two Business Days after the date of this Amendment, pursuant to wire instructions to be delivered by Lender to the Escrow Agent. The release of the Xxxxxxx Money to Lender shall be deemed a release of the Xxxxxxx Money to Seller, subject to the terms and conditions of the Purchase Agreement as amended by this Amendment. Seller will instruct Lender to (a) apply the Xxxxxxx Money to reduce Seller’s outstanding indebtedness to Lender under the loan secured by the Mortgage, and to acknowledge in writing the receipt and application of the Xxxxxxx Money for such purpose to Seller and Purchaser within three Business Days after the Escrow Agent releases the Xxxxxxx Money to Lender pursuant to this Section 2.2. Upon the Escrow Agent’s release of the Xxxxxxx Money to Lender pursuant to this Section 2.2, the Escrow Agent’s obligations under Article 9 of the Purchase Agreement with respect to holding and disbursing the Xxxxxxx Money shall terminate. Upon the release of the Xxxxxxx Money to Lender pursuant to this Section 2.2, the Xxxxxxx Money shall not be refundable to Purchaser except as provided in Section 2.4.
