Form Re 643g - Agreement And Escrow Instructions (Letter Of Credit - Va Start-Up) Form - California Bureau Of Real Estate Page 2
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2RE 643G
Page 2 of 2
9.
It is the intent of the parties hereto that the Escrow shall act at all times in accordance with this agreement merely as an
escrow and without liability for fulfillment of the Subdivider’s obligation hereunder. Escrow shall be empowered to
interplead should any dispute arise, and Subdivider agrees to indemnify Escrow and hold it harmless against all costs,
attorney fees and damages incurred by Escrow arising under this agreement.
10. If a dispute arises between Subdivider and Association with respect to Subdivider’s obligation under this agreement,
at the request of either party, the dispute shall be submitted to and decided by arbitration in accordance with the rules
of the American Arbitration Association (AAA) before an arbitrator selected by the AAA from its panels of arbitrators.
The fee to initiate arbitration shall be paid by Subdivider, however, the costs of arbitration shall ultimately be borne as
determined by the arbitrator.
By the signatures affixed below, the parties consent to be bound to the terms of this agreement:
Subdivider
Association
By
Date
By
Date
Printed Name of Signer
Printed Name of Signer
Title
Title
Address
Address
City
State
City
State
ESCROW
Escrow acknowledges receipt of Letter of Credit No.
Escrow
____________________ and agrees to carry out the
terms of the within agreement.
By
Date
Printed Name of Signer
Title
Address
City
State
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