Common use of XXXXXXX MONEY ESCROW Clause in Contracts

XXXXXXX MONEY ESCROW. The xxxxxxx money shall be deposited by Seller into an escrow account maintained with Xxxxxxxxxx County Abstract Company. The title company shall hold this money as escrowee for the mutual benefit of the parties. Disbursements of the funds in escrow shall be according to the terms of this Contract and regulations of the Illinois Office of Banks and Real Estate. In the event the sale is not completed, escrowee shall deliver the funds as the parties agree and direct in writing which direction shall be delivered to escrowee within 30 days after the Closing date as set forth in this Contract. After deducting any direct expenses incurred by Xxxxxxxx Auctioneers, LLC in furtherance of completion of this executed Contract, if the parties are in disagreement and have not jointly directed the escrowee as to the disposition of the funds within the thirty (30) day period described above, upon fifteen (15) days written notice to Seller and Buyer, escrowee may then deposit the funds with the Clerk of the Circuit Court of the county in which the Real Estate is located, by filing of an action in the nature of an interpleader. Buyer and Seller agree that the escrowee will be reimbursed for all costs, including reasonable attorneys’ fees, related to the filing of an interpleader and reasonable broker’s expenses and do hereby agree to indemnify and hold escrowee harmless from any and all claims and demands, (unless arising from the negligence or intention of the escrowee), including the payment of all reasonable attorney’s fees, costs, and expenses.

XXXXXXX MONEY ESCROW. The xxxxxxx money shall be deposited by Seller into an escrow account maintained with Xxxxxxxxxx County Abstract Company. The title company shall hold this money as escrowee for the mutual benefit of the parties. Disbursements of the funds in escrow shall be according to the terms of this Contract and regulations of the Illinois Office of Banks and Real Estate. In the event the sale is not completed, escrowee shall deliver the funds as the parties agree and direct in writing which direction shall be delivered to escrowee within 30 days after the Closing date as set forth in this Contract. After deducting any direct expenses incurred by Xxxxxxxx Auctioneers, LLC in furtherance of completion of this executed Contract, if the parties are in disagreement and have not jointly directed the escrowee as to the disposition of the funds within the thirty (30) day period described above, upon fifteen (15) days written notice to Seller and Buyer, escrowee may then deposit the funds with the Clerk of the Circuit Court of the county in which the Real Estate is located, by filing of an action in the nature of an interpleader. Buyer and Seller agree that the escrowee will be reimbursed for all costs, including reasonable attorneys’ fees, related to the filing of an interpleader and reasonable broker’s ’ s expenses and do hereby agree to indemnify and hold escrowee harmless from any and all claims and demands, (unless arising from the negligence or intention of the escrowee), including the payment of all reasonable attorney’s ’ s fees, costs, and expenses.

XXXXXXX MONEY ESCROW. The xxxxxxx money shall be deposited by Seller into an escrow account maintained with Xxxxxxxxxx County Abstract Company. The title company shall hold this money as escrowee for the mutual benefit of the parties. Disbursements of the funds in escrow shall be according to the terms of this Contract and regulations of the Illinois Office of Banks and Real Estate. In the event the sale is not completed, escrowee shall deliver the funds as the parties agree and direct in writing which direction shall be delivered to escrowee within 30 days after the Closing date as set forth in this Contract. After deducting any direct expenses incurred by Xxxxxxxx Auctioneers, LLC in furtherance of completion of this executed Contract, if the parties are in disagreement and have not jointly directed the escrowee as to the disposition of the funds within the thirty (30) day period described above, upon fifteen (15) days written notice to Seller and Buyer, escrowee may then deposit the funds with the Clerk of the Circuit Court of the county in which the Real Estate is located, by filing of an action in the nature of an interpleader. Buyer Xxxxx and Seller Xxxxxx agree that the escrowee will be reimbursed for all costs, including reasonable attorneys’ fees, related to the filing of an interpleader and reasonable broker’s expenses and do hereby agree to indemnify and hold escrowee harmless from any and all claims and demands, (unless arising from the negligence or intention of the escrowee), including the payment of all reasonable attorney’s fees, costs, and expenses.