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2005-220
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2005-220
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Last modified
7/27/2016 10:22:48 AM
Creation date
9/30/2015 8:53:43 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
06/21/2005
Control Number
2005-220
Agenda Item Number
9.A.2
Entity Name
Ronald Ansin
Subject
Environmental Lands program
St. Sebastian River Buffer
Sale and Purchase & Escrow Agreement
Area
Environmental Lands Property or EL Property
Supplemental fields
SmeadsoftID
5029
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r <br /> 1 . 3 . Escrow Agent shall not be deemed to have knowledge of any matter or thing <br /> unless and until Escrow Agent has actually received written notice of such matter or thing and <br /> Escrow Agent shall not be charged with any constructive notice whatsoever . <br /> 1 . 4 . In the event instructions from Principals would require Escrow Agent to <br /> expend any monies or to incur any cost, Escrow Agent shall be entitled to refrain from taking any <br /> action until it receives payment for such costs . <br /> 1 . 5 . Principals acknowledge and agree that nothing in this Escrow Agreement shall <br /> prohibit Escrow Agent from ( 1 ) serving in a similar capacity on behalf of others or (2) acting in the <br /> capacity of attorneys for one or more Principals in connection with any matter . <br /> 2 . Release of Escrowed Property. <br /> 2 . 1 . Escrow Agent agrees to release the Escrowed Property in accordance with the <br /> terms and conditions set forth in this Escrow Agreement . <br /> 2 . 2 . Escrow Agent shall hold the Escrowed Property in escrow until the date of <br /> receipt by Escrow Agent of written notice from Buyer of the completion of the right- of-way <br /> abandonment process contemplated in the Purchase Agreement (the Abandonment Notice") . Upon <br /> receipt of the Abandonment Notice, Escrow Agent shall; (a) deliver the Closing Documents to Buyer <br /> and the Purchase Price to Seller forthwith . <br /> 2 . 3 If Escrow Agent does not receive the Abandonment Notice by the date <br /> determined to be ninety (90) days after the Escrow Date, (subject to delays caused by strikes, <br /> accidents, acts of God, weather conditions, inability to secure labor, regulations or restrictions <br /> imposed by any government or governmental agency, or other delays beyond the control of the <br /> parties, but in no event shall any such delays be permitted to extend the deadline for receiving the <br /> Abandonment Notice beyond the date determined to be nine months after the Escrow Date) Escrow <br /> Agent shall deliver the Closing Documents to Seller and the Purchase Price to Buyer, and upon such <br /> event the parties hereto shall be relieved of all rights and obligations hereunder except for any rights <br /> and obligations that expressly survive termination of this Agreement . <br /> 2 . 4 . In the event Escrow Agent shall be uncertain as to its duties or rights <br /> hereunder, Escrow Agent shall be entitled to refrain from taking any action until it shall be directed <br /> otherwise in writing by all Principal(s) or by a final order or judgment of a court of competent <br /> jurisdiction . <br /> 2 . 5 . If all or any portion of the Escrowed Property delivered to Escrow Agent is in <br /> the form of a check or in any other form other than cash, Escrow Agent shall deposit same as <br /> required but shall not be liable for the nonpayment thereof nor responsible to enforce collection <br /> thereof. If such check or other instrument other than cash representing the Escrowed Property is <br /> returned to Escrow Agent unpaid, Escrow Agent shall notify the applicable Principal(s) for further <br /> instructions . <br /> 2 <br />
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