CC PACKET 06122012 - Laserfiche WebLink

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we EXHIBIT B ESCROW AGREEMENT The undersigned, Commercial Partners Title, LLC ("Escrow Agent"), acknowledges'receipt of Twelve Thousand Five Hundred and No/100 Dollars ($12,500.00) (the "Deposit") to be held by it pursuant to the Purchase Agreement to which this Escrow Agreement is attached. Escrow Agent agrees to hold the Deposit in accordance with the terms of the Purchase Agreement and disburse the same strictly in accordance with such terms. Escrow Agent shall invest the Deposit in such interest-bearing accounts or instruments as shall be approved by both Buyer and Seller. The party that receives the Earnest Money pursuant to the Purchase Agreement shall be entitled to the interest accrued thereon. Seller and Buyer represent that their respective Tax I.D. Numbers are as follows: Seller, _; Buyer, 27-4812010. Escrow Agent shall have no responsibility for any decision concerning performance or effectiveness of the Purchase Agreement or to resolve any disputes concerning the Purchase Agreement. Escrow Agent shall be responsible only to act in accordance with the joint and mutual direction of both Seller and Buyer, or in lieu thereof, the direction of a court of competent jurisdiction. Escrow Agent will not be responsible for any penalties or loss of interest or any delays in withdrawing funds which may be incurred upon withdrawal of the Earnest Money in accordance with instructions given hereunder except to the extent attributable to Escrow Agent's negligence or intentional acts or omissions. In the event Escrow Agent receives written notice of default, non-performance, dispute or exercise of right under the Purchase Agreement from Seller or Buyer accompanied by a demand for delivery to such party of the Earnest Money, Escrow Agent is immediately to give written notice to the other party of such claim and accompanying demand. In the event the other party fails to dispute or object to such claim and demand within five (5) business days from the date of Escrow Agent's written notice, Escrow Agent is authorized to deliver the Earnest Money to the party making such claim and demand. In the event the other party disputes or objects to the aforesaid claim and demand within the 5 -business day period prescribed herein, Escrow Agent is not to deliver the Earnest Money deposited hereunder without receipt of a mutual agreement of the parties, in writing, or appropriate court order. Subject to the foregoing, this Escrow Agreement will at all times be subject to the joint order of Seller and Buyer and upon such joint order Escrow Agent will deliver the Earnest Money as instructed by such joint order. The fees and charges of the Escrow Agent shall be paid by Buyer. This Escrow Agreement may be executed in any number of counterparts, all of which are considered one and the same Escrow Agreement notwithstanding that all parties hereto have not signed the same counterpart. 4849-0849-7166\3 [Signatures follow]