Escrow Holder definition
Examples of Escrow Holder in a sentence
Upon execution of this Agreement, City shall deliver a copy of this fully executed Agreement to Escrow Holder.
PURCHASER shall deposit with Escrow Holder a non-refundable (except as expressly provided in this Agreement) Option Payment of One Hundred Thousand Dollars ($100,000) for each of the first two Options to Extend for each one-year extension.
Escrow Holder shall order and provide to PURCHASER, at City’s expense, a Natural Hazard Disclosure Statement.
Upon SELLER’s express written approval of an Option to Extend for year three, four, or five, if at all, PURCHASER shall deposit with Escrow Holder a non-refundable (except as expressly provided in this Agreement) Option Payment of Three Hundred Thousand Dollars ($300,000) for a year three Option to Extend, Four Hundred Thousand Dollars ($400,000) for a year four Option to Extend, and Five Hundred Thousand Dollars ($500,000) for a year five Option to Extend.
If prior to the Closing all or a portion of the Property is condemned, damaged or destroyed, PURCHASER shall have the option of either (i) receiving from SELLER an amount equal to any applicable deductible under any applicable insurance policy and receiving any awards or payments received by SELLER resulting therefrom, or (ii) terminating this Agreement in whole by delivering notice to SELLER and Escrow Holder.