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<br />(b) $10,000 to be paid directly to Seller upon the execution and filing of this <br />Agreement to be used by Seller for expenses relating to improvements to <br />the Property. Seller may continue to draw upon the escrow funds referred <br />to in subdivision (c) of this section in an amount up to $10,000. The funds <br />shall be used for expenses relating to improvements to the Property and <br />may be released to Seller after providing Buyer with satisfactory <br />documentation and upon Buyer providing written authorization to Title <br />Company to release funds. <br /> <br />(c) $288,000.00 in cash to be paid into an escrow account upon the execution <br />and filing ofthis Agreement. The funds will be held at Centerstone Title, <br />pursuant to an Escrow Agreement in the form attached as Exhibit C. <br />Seller shall be allowed to draw upon the funds from the escrow account <br />for expenses relating to the Property, after providing written notice to the <br />Buyer of his intent to draw upon the funds. Buyer may, at its discretion, <br />refuse to allow the Seller to draw funds from the escrow account until it is <br />provided documentation satisfactory to Buyer indicating the proposed use <br />of the funds to be drawn from the account. Funds shall not be released <br />from the escrow account by Centerstone Title until it receives written <br />authorization from the Buyer and Seller complies with the terms and <br />conditions of the Escrow Agreement. Concurrent with the execution of <br />this Agreement, Seller shall execute a mortgage in favor of Buyer securing <br />this payment, in the form set forth as attached in Exhibit D. The mortgage <br />will be satisfied at the time of closing upon the compliance by Seller with <br />the terms of this Agreement; <br /> <br />(d) $1,000.000.00 by wire transfer in immediately available funds payable to <br />Seller at the time of closing. <br /> <br />(e) <br /> <br />*- <br /> <br />$100.000 by wire transfer payable to Seller one year from the date of <br />closing. Interest shall accrue on this amount at a rate of five percent (5%) <br />per annum. This amount is being held by Buyer to provide security for any <br />warranties made by Seller and to correct any defects that are discovered on <br />the Property. In the event that Buyer determines there is any breach of <br />warranty or defect relating to the Property, Buyer may deduct the cost of <br />curing the breach or defect from the $] 00,000 held by Buyer and the <br />balance shall be paid to Seller. Prior to Buyer curing any breach or defect, <br />Buyer shall provide written notice to Seller specifically setting forth the <br />breach or defect and Buyer shall have 30 days to cure the breach or defect <br />to the satisfaction of Buyer. If the breach or defect is not cured to the <br />Buyer's satisfaction within the 30 day period, Buyer may cure the defect <br />as set forth above. <br /> <br />3. Contingencies. Buyer's obligations pursuant to this Agreement are <br /> <br />contingent upon each of the following: <br /> <br />2 <br /> <br />41 <br />