Deed in Escrow Clause Samples
A Deed in Escrow clause establishes that a deed will be held by a neutral third party, known as an escrow agent, until certain conditions specified in the agreement are met. In practice, this means the seller executes the deed and delivers it to the escrow agent, who then releases it to the buyer only after all contractual obligations—such as payment or completion of repairs—are fulfilled. This clause ensures that both parties are protected during the transaction, as the transfer of property will only occur once all agreed-upon terms are satisfied, thereby reducing the risk of default or non-performance.
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Deed in Escrow. In order to help facilitate the transfer of the property from the Buyer back to the Seller, in the case of non-performance as described in Section 3, the Buyer shall deliver to ▇▇▇▇▇▇ fully executed deeds recordable in favor of the Seller addressing each of the possible scenarios discussed in Section 3. Deed shall be a Grant, Bargain and Sale Deed. The deed shall only be recorded in the case of non-performance following written notice and a sixty day cure period. In the event that the Seller elects to take back any property by way of the above-described deed or deeds based on the Buyer’s failure to qualify for some or all incentives hereunder, then the Seller shall immediately release any and all claims, including the Deed of Trust on the Encumbered Parcel as well as all other Deeds as described immediately above and the Buyer shall be under no further obligation whatsoever to the Seller.
Deed in Escrow. Upon thirty (30) day's prior written notice from the Lender, as further consideration for the agreement of the Lender to extend the Maturity Date under the Loan Documents pursuant to Section 2 of this Agreement, Borrowers agree to deliver to Lender's counsel deeds and certain other documents conveying the Properties (the "Escrowed Property") and all fixtures and personal property related thereto to the Lender or Lender's assignee.
(a) The Borrowers shall execute and deliver to Lender's counsel, Steptoe & ▇▇▇▇▇▇▇ LLP, in escrow, the following documents (with the date and grantee left blank) related to the conveyance of the Escrowed Property, which documents shall be delivered out of escrow to the Lender, at Lender's sole discretion upon Lender's written request to Lender's counsel and only upon or after the occurrence of a default or an Event of Default (as hereinafter defined), subject to any applicable cure or remedy periods provided for in the Loan Documents, all of which shall be satisfactory in all respects to Lender in its sole and absolute discretion (the "Conveyance Documents"):
(i) special warranty deeds (the "Deeds") conveying title to the Escrowed Property;
(ii) blanket conveyances, bills of sale and assignments conveying title to all personal property located on or related to the Escrowed Property;
(iii) assignments of rents and leases;
(iv) title affidavits/indemnities;
Deed in Escrow. Upon execution of this Agreement, Mortgagor shall deliver to AMAC or its designee a General Warranty Deed, in the Form of Exhibit B attached hereto, conveying title to the Property (the "Deed"). The Deed will be held in escrow by AMAC. Upon payment in full of the Settlement Amount, pursuant to Section 1 of this Agreement, AMAC will return the Deed to Mortgagor. If Mortgagor does not make payments owed on the Second Payment Date or on the Closing Date ("Settlement Agreement Default"), AMAC or its designee shall, in addition to its exercise of any other rights under this Agreement, record the Deed and take title to the Property.