Fillable Printable RESIDENTIAL DEPOSIT ESCROW AGREEMENT

RESIDENTIAL DEPOSIT ESCROW AGREEMENT

DATE: _____________________________________________________________________________

PURCHASER:___________________________________________________________________

SELLERS:__________________________________________________________________

PROPERTY ADDRESS ___________________________________________________________

________________________________________________________

We, the undersigned, herby instruct and authorize NORTH CENTRAL FLORIDA TITLE, LLC

("Escrow Agent") to hold in escrow the sum of $__________("Funds") pursuant to that contract

between

Purchaser and Seller dated__________________under the following terms and conditions:

The Funds received here are for use as a binder deposit from the purchaser for the purchase of

the

above-referenced property, to be held in escrow until the closing of the above property, at which

time

the same shall be credited towards the purchase price on behalf of the purchaser.

In the even this transaction is not completed, for any reason, written disbursement instructions,

signed by all parties to this Agreement, must be delivered to escrow Agent before the Funds held

hereunder will be disbursed. Said escrow instruction must clearly state to whom the Funds are to be

disbursed and in what amounts. Escrow Agent is not responsible for determining the authenticity of the

written disbursement instructions.

All checks, money orders or drafts will be processed for collection in the normal course of

business, Escrow Agent may co-mingle Funds received by it in escrow with escrow funds of others, and

may, without limitation , deposit such Funds in its custodial or escrow accounts with any reputable trust

company, bank, savings bank, savings association , or other financial services entity, including any

affiliate of Escrow Agent. It is understood that escrow Agent shall be under no obligation to invest the

funds deposited with it on behalf of any depositor. This Agreement shall confirm the consent of the

undersigned, pursuant to Section 4.186.008(3) of the Florida Administrative Code, to the placement of

the funds escrowed hereunder into an interest bearing account in the name of Escrow Agent and to

further confirm that interest or other benefits earned (if any) will be the property of the Escrow Agent.

Limitations of Liability: Without limitations, Escrow Agent shall not be liable for any loss or

damage resulting from the following;

The financial status or insolvency of any other party, or any misrepresentations made by any

other party.

This legal effect, insufficiency, or undesirability of any instrument deposited with or delivered by

or to escrow Agent or exchanged by the parties hereunder, whether or not Escrow Agent

prepared such instrument.

The default, error, action or omission of any other party to the escrow.

Any loss or impairment of Funds that have been deposited in escrow while those Funds are in

the course of collection or while those Funds are on deposit in a financial institution if such loss

or impairment results from the failure, insolvency or suspension or a financial institution, or any

loss or impairment of Funds due to the invalidity of any draft, check, document or other

negotiable instrument delivered to the Escrow Agent.

The expiration of any time limit or other consequences of delay, unless a properly

executed

settlement instruction accepted by escrow Agent has instructed the Escrow Agent to

comply

with said time limit.

Escrow Agent 's compliance with any legal process, subpoena , writ, order, judgment or decree

of any court , whether issued with or without jurisdiction and whether or not subsequently

vacated , modified, set aside or reversed.

These conditions of escrow shall apply to an be for the benefit of agents of the Escrow

Agent

employed by it for services in connection with this escrow, as well as for the benefit of Escrow

Agent.

Attorney 's Fees: In the event that litigation is initiated relating to this escrow agreement,

the

parties hereto agree that the prevailing party shall be entitled to attorneys fees, court costs and

expenses. To the extent that Escrow Agent holds Funds under the terms of this escrow, the parties

hereto, other than Escrow Agent , agree that the Escrow Agent is entitled to reimbursement of attorney's

fees, court costs and expenses relating to said litigation as they are incurred by Escrow Agent from

the

escrow deposit, without limiting any other rights of recovery from the Purchaser and Seller directly

In the event conflicting demands are made on Escrow Agent , or Escrow Agent in good faith,

believes that any demands with regard to the Funds are in conflict or are unclear or ambiguous, Escrow

Agent may bring an interpleader action in an appropriate court. Such action shall not be deemed to

the fault" of Escrow Agent , and Escrow Agent is entitled to reimbursement from the escrow Funds

for

its reasonable costs and attorneys’ fees in connection with same, through final appellate review.

addition, the parties hereto, other than Escrow Agent , hereby jointly and severally indemnify

Escrow Agent from all such attorney's fees, court costs and expenses. All liability and obligation of

the Escrow

Agent terminates upon the deposit of the Funds into the court Registry pursuant to an

interpleader or

other action.

It is understood and agreed between the parties hereto that Escrow Agent may not disburse

funds unless the funds are collected funds. For purposes of this agreement , "collected funds" means

funds deposited, finally settled and credited to the Escrow Agent's Trust Account .

In the event of a conflict between the terms of this Escrow Agreement and the Contract,

the

provisions of this Escrow Agreement will control.

NORTH CENTRAL FLORIDA TITLE, LLC

By:_____________________________________