Laserfiche WebLink
first sentence of paragraph 2 above for disbursement of the then remaining <br />Deposit, then Escrowee shall immediately disburse to Seller all or any portion of <br />the Deposit then remaining undisbursed, which payment shall constitute payment <br />of that portion of the purchase price not paid on the date hereof attributable to the <br />cost of demolishing the improvements. In such event, Buyer shall be deemed to <br />have waived any and all right, title and interest in and to any portion of the <br />Deposit remaining undisbursed as of July 15, 2000. <br />4. Failure of any party entitled to enforce this Agreement to require strict <br />performance of the terms and conditions hereof shall not constitute a waiver of <br />its rights hereunder. <br />5. The Deposit shall be held by Escrowee in an interest bearing account and all <br />interest shall be deemed part of the Deposit and disbursed to the party entitled to <br />receive the Deposit. <br />6. Escrowee acknowledges receipt of the Deposit and agrees to hold and disburse <br />the Deposit in accordance with the terms and conditions of this Agreement. <br />7. The prevailing party in any suit to enforce this Agreement shall be entitled to <br />recover all damages including reasonable attorneys fees and costs. <br />8. This Agreement may be amended, in whole of in part, with the consent of the <br />Buyer, Seller and Escrowee, or their successors and assigns.. <br />9. In the event the Buyer and Seller are in dispute over the disbursement of the <br />Deposit, Escrowee may, at its discretion, continue to hold the Deposit until such <br />time as it receives written documentation executed by the Buyer and Seller <br />directing the release of the Deposit, or in the alternative, Escrowee may bring an <br />interpleader action and tender the Deposit to a court of competent jurisdiction for <br />final resolution of the matter. <br />10. All notices required under this Agreement shall be deemed delivered (i) on the <br />date of delivery if delivered personally or by courier, or (ii) three (3) business <br />days after deposit in the United States Mail if delivered by registered or certified <br />mail; properly addressed in either case to the addresses specified in the caption of <br />this Agreement. <br />IN WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto the date <br />first above written. <br />3 <br />263340v2 <br />Page 15 <br />