Escrow Agreement For Option Template (Page 2 of 2) in pdf

Escrow Agreement For Option Template Page 2

2. First Party hereby authorizes said Escrow Agent to hold such Deed until such time Second Party

has exercised the Option and tendered the purchase price according to the terms of the Option, at

which time First Party authorizes the Escrow Agent to deliver said Deeds, Option and Bill of Sale to

Second Party.

In the event of default or expiration as described in said Option, Escrow Agent is directed to deliver

to First Party the said Deeds, Bill of Sale and Option. Second Party expressly agrees to hold Escrow

Agent harmless and free from liability for delivery of documents in this manner.

3. In consideration of the Escrow Agent rendering the services mentioned herein, the Escrow Agent

shall be paid by First and Second Parties, a fee of $

4. First Party and Second Party agree that said Escrow Agent shall in no case or event be liable for

forgeries or false presentations of these instructions, and that in the event of any controversy between

the parties to said Option, or any third person with respect to the subject matter of this escrow, its terms

or conditions, the Escrow Agent shall not be required to determine the same or take any action in the

premises, but may await settlement of any controversy by appropriate legal proceedings, or otherwise,

as may be required by the Escrow Agent, notwithstanding any of the provisions of this Escrow Option

to the contrary. In the event of such controversy between the parties to this Escrow Option, the

Escrow Agent shall not be held liable for interest or damage and shall not be responsible to make a

determination of such controversy.

IN WITNESS WHEREOF the parties have set their hands and affixed their seals the day and year

first above written.

_____________________________

First Party

_____________________________

Second Party

I hereby accept the terms of the above escrow and acknowledge receipt of the documents described

herein.

_____________________________

__________________________

Escrow Agent

Date

Escrow Agreement For Option Template Page 2