Bank Escrow Agreement

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Payment is usually made to the trust agent. The buyer can perform due diligence for their potential acquisition – such as a home inspection or securing financing – while assuring the seller that they are able to complete the purchase. If the purchase passes, the fiduciary agent will apply the money to the purchase price. If the conditions set out in the agreement are not met or if the agreement is concluded, the fiduciary agent may refund the money to the buyer. (b) The trust agent agrees to act as a trust agent and to maintain, protect, invest and pay the trust fund in accordance with the terms set forth therein. (a) on the date of general release, the trustee shall pay the trust fund to the seller within five (5) working days, paying funds immediately available to the accounts indicated in writing by the seller; However, provided that, if, from the date of general release, the disputed amount or claims are still pending (an “outstanding claim”), the trustee excludes and maintains in trust a portion of the trust fund corresponding to the amount of all such outstanding claims. The obligations, responsibilities and obligations of the supervisory agent are limited to those expressly set out therein and no obligation, liability or obligation may be inferred or implied. Under no circumstances shall the trust agent be considered an agent of any party or other person under this trust agreement. The trust agent is not responsible or liable for the inability of another party to work in accordance with this Trust Agreement. The trust agent is not subject to any other agreement between the buyer and the seller, or any party to which the buyer or seller refers, or is not required to comply with it, even if referred to therein, or instructions or instructions (except those contained therein or provided in accordance with this Fiduciary Agreement) of the buyer or seller or a person acting on their respective behalf. to follow the legal person. Agent Escrow is not obliged to spend or risk its own resources or take any other financial responsibility in the performance of its obligations under this Contract. We calculate expenses in response to certain tasks assigned by the client or provided for in the trust agreement.

Any expenses would be, but are not limited to, express mail and courier costs, travel expenses to attend closing meetings or other meetings. Indirect costs are not subject to fees. Trust agreements must fully define the terms between all parties involved. If they have one, it is guaranteed that all the commitments of the parties involved are respected and that the transaction is carried out safely and reliably. Instructions for the use of the following Wells Fargo Money Market Deposit Accounts for cash holdings for the trust account or accounts (“Account”) established under the Fiduciary Agreement attached to Appendix A. (ii) In the event of a dispute between or between conflicting claims of the Buyer or Seller and/or another natural or legal person concerning the Trust Fund, the Trust Agent is authorized at its own discretion: to refuse to comply with any claims, claims or instructions relating to the Trust Fund as long as such dispute or conflict persists and the Trustee Agent is not or will be held liable, either to the Buyer or to the Seller, for failure to comply with or refusal to comply with such claims, claims or conflicting instructions.

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