Common use of Exxxxxx Money Clause in Contracts

Exxxxxx Money. (i) Within five (5) business days after the execution and delivery of this Agreement by both Purchaser and Seller (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective Date”), Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) in the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon is referred to in this Agreement as the “Exxxxxx Money”. If Purchaser so directs the Escrowee, Escrowee shall invest the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money as provided for in this agreement. The Exxxxxx Money shall be held by Escrowee pursuant to a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall be non-refundable except in the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return of the Exxxxxx Money pursuant to the terms of this Agreement.

Exxxxxx Money. Within three (i) Within five (53) business days after the execution and delivery Effective Date of this Agreement by both Purchaser and Seller (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective Date”)Agreement, Purchaser shall deliver to First American deposit the sum of Five Hundred Thousand and 00/100 Dollars ($500,000.00) (the “Initial Exxxxxx Money”) in escrow with Chicago Title Insurance Company (in such capacityCompany, “Escrowee”), whose address is 30 10 Xxxxx XxXxxxx Xxxxxx, Xxxxx 0000000, Xxxxxxx, Xxxxxxxx 00000XX, Attention: Jxxx X. XxxxxxxxxKxxxx XxXxx (the “Title Company”), Xx.in its capacity as escrowee. Upon expiration of the Inspection Period, provided that Purchaser has not terminated this Agreement pursuant to Section 2.2(b) hereof or as otherwise provided herein, Purchaser shall deposit the sum of One Four Hundred Thousand and No/100 00/100 Dollars ($100,000.00400,000.00) in (the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which “Additional Exxxxxx Money”; the Additional Exxxxxx Money together with any additional exxxxxx money the Initial Exxxxxx Money, and any interest earned thereon is Extension Deposit (if and to the extent made pursuant to Section 2.4 hereof), being hereinafter referred to in this Agreement to, collectively, as the “Exxxxxx Money”) in escrow with the Title Company. If Purchaser so directs the EscroweeExcept as otherwise provided in this Agreement, Escrowee shall invest the Exxxxxx Money shall become non-refundable in the amounts and upon the dates as specified in the schedule provided in Section 2.4(b) hereof; provided, however, that the Exxxxxx Money shall be fully refundable to Purchaser in the event Purchaser exercises any of its rights to terminate this Agreement in accordance with the terms and conditions of this Agreement. The Exxxxxx Money shall be invested in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securitiesother investment medium reasonably acceptable to Purchaser, and held in escrow and disbursed by the Title Company strictly in accordance with the terms and provisions of a joint order escrow agreement in such form provided by the Title Company and reasonably agreed to by Seller and Purchaser. Any and all All interest earned accrued on the Exxxxxx Money shall be reported deemed to Purchaser’s federal tax identification numberbe part of the Exxxxxx Money. For the avoidance of doubt, and the interest earned on such funds shall be paid or credited to the party entitled to receive except as otherwise provided in this Agreement, the Exxxxxx Money as provided for in this agreement. The Exxxxxx Money shall be held by Escrowee pursuant to a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall be is non-refundable except in to Purchaser but shall be applicable against the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return of the Exxxxxx Money pursuant to the terms of this AgreementPurchase Price at Closing.

Exxxxxx Money. Within two (i2) Within five Business Days (5as hereinafter defined) business days after of the execution and delivery of this Agreement by both Purchaser and Seller (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective Date”), Purchaser Buyer shall deliver to First American LandAmerica Title Insurance Company (in such capacityCompany, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx8000 Xxxxxxx Xxxx, Xxxxx 000, XxxxxxxXxxxxx, Xxxxxxxx Xxxxx 00000, Attention: Jxxx Dxxxxx X. Xxxxxxxxx, Xx.Xxxxx (Phone: (000) 000-0000, the sum of One Hundred Thousand and No/100 Dollars “Title Company”), as escrow agent, ONE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($100,000.00150,000.00) in (by Immediately Available Funds) as exxxxxx money (the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee“Initial Exxxxxx Money”), which funds shall be deposited and held by the Title Company in an interest bearing account, and Buyer shall provide such information, including its federal identification number, as is necessary to establish such account. Upon the closing of that certain Contract of Sale dated as of April ___, 2006, by and between Buyer and TX Xxxxxx Ranch Partners, Ltd., a Texas limited partnership, Buyer shall place into escrow with the Title Company an additional amount equal to ONE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($150,000.00) as additional exxxxxx money (the “Additional Exxxxxx Money”). To the extent delivered by Buyer, the Initial Exxxxxx Money and the Additional Exxxxxx Money, together with any additional exxxxxx money and any interest earned thereon is thereon, are collectively referred to in this Agreement as the “Exxxxxx Money”. If Purchaser so directs Buyer does not timely deliver the EscroweeInitial Exxxxxx Money as provided in this Section 3, Escrowee this Contract shall invest be null and void, and neither party shall have any rights or obligations hereunder. If Buyer has not otherwise terminated this Contract in accordance with the terms hereof, Buyer’s failure to timely deliver the Additional Exxxxxx Money shall constitute a default by Buyer. If the transaction contemplated by this Contract is closed, then the Exxxxxx Money will be applied in payment of the Sales Price to be paid at Closing. In the event the transaction is not closed, then the Title Company shall disburse the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on accordance with the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money as provided for in this agreement. The Exxxxxx Money shall be held by Escrowee pursuant to a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall be non-refundable except in the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return of the Exxxxxx Money pursuant to the terms provisions of this AgreementContract.

Exxxxxx Money. (i) Within five (5) 2 business days after the execution and delivery of this Agreement by both Purchaser and Seller (Contract Date, Buyer will deposit with the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as Closing Agent the “Effective Date”), Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the cash sum of One Hundred Thousand $500,000.00 (as such amount may be increased pursuant to Section 10.1 below, and No/100 Dollars ($100,000.00) in the form of a check payable to Escroweeincluding any accrued interest, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon is referred to in this Agreement as the “Exxxxxx Money”. If Purchaser so directs the Escrowee, Escrowee shall invest the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money as provided for in this agreement). The Exxxxxx Money shall be held by Escrowee pursuant to a joint order escrow agreement between Seller the Closing Agent until disbursed as set forth in this Agreement. Buyer shall execute and Purchaser in deliver any appropriate W-9 forms requested by the form attached as Exhibit B hereto (Closing Agent. If Buyer acquires the “Exxxxxx Money Escrow Agreement”). The Property, the Exxxxxx Money shall be non-refundable except paid to Seller and applied as a credit against the Consideration. If all of the conditions precedent set forth in the event of failure to close this transaction by reason of a default by Seller Agreement are not met or if Purchaser is expressly otherwise entitled resolved to the return satisfaction of Buyer, or Buyer terminates this Agreement as expressly permitted pursuant to the provisions hereof, the Exxxxxx Money shall be returned by the Closing Agent to Buyer without further instruction from Seller. If all of the conditions precedent set forth in this Agreement have been satisfied or waived by Buyer, and Buyer is obligated to purchase the Property pursuant to the terms of this Agreement and thereafter Buyer defaults on its obligation to acquire the Property pursuant to the terms of this Agreement and Seller is not otherwise in material default, then the Exxxxxx Money shall be delivered to Seller and shall be retained by Seller as liquidated damages. If there is a dispute between Buyer and Seller as to the distribution of the Exxxxxx Money, or if for any other reason the Closing Agent in good faith elects not to make any such disbursement, the Closing Agent shall continue to hold the Exxxxxx Money until otherwise directed by written instructions executed both by Seller and Buyer, or by a final judgment of a court of competent jurisdiction. Upon request, Buyer and Seller shall execute Closing Agent’s standard exxxxxx money escrow agreement in form reasonably acceptable to Buyer and Seller; provided, however, that if there is any conflict or inconsistency between such escrow agreement and this Agreement, then this Agreement shall control. Notwithstanding anything stated to the contrary in this Agreement, the only circumstance under which Seller shall be entitled to receive the Deposit if Closing fails to occur is if Buyer fails to purchase the Property when it is obligated to do so under this Agreement. In addition, notwithstanding anything to the contrary contained herein, $100.00 of the Exxxxxx Money is earned by Seller in consideration of the rights granted to Buyer under Section 6 hereof and shall be in all events non-refundable to Buyer.

Exxxxxx Money. (ia) Within five three (53) business days after following the execution Effective Date, Purchaser shall deposit with Escrow Agent the sum of Fifty Thousand and delivery No/00 Dollars ($50,000.00) by wire transfer of immediately available funds (the "Initial Exxxxxx Money"). On or before the date which is three (3) business days following the expiration of the Inspection Period (as defined in Section 3.2), in the event Purchaser has not sooner terminated this Agreement in accordance with the terms hereof, Purchaser shall deposit with Escrow Agent the additional sum of Nine Hundred Fifty Thousand and No/00 Dollars ($950,000.00) by both Purchaser and Seller wire transfer of immediately available funds (the date this Agreement is executed "Additional Exxxxxx Money"). The Initial Exxxxxx Money and delivered by both Purchaser the Additional Exxxxxx Money, and Seller any interest thereon pursuant to Section 10.1 shall individually and collectively be referred to herein as the “Effective Date”), "Exxxxxx Money." The Exxxxxx Money is consideration for the rights granted to Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., purchase the sum of One Hundred Thousand Property and No/100 Dollars ($100,000.00) in the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon is referred to in if Purchaser has not terminated this Agreement as the “Exxxxxx Money”. If Purchaser so directs the Escroweein accordance with Section 3.2, Escrowee shall invest then the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall will be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money as provided for in this agreementnon refundable except if a Purchaser Permitted Termination Event occurs. The Exxxxxx Money shall be held by Escrowee pursuant applied to a joint order the Purchase Price on the Closing Date and paid to Seller through the escrow agreement between process outlined herein, or at Purchaser's election, upon release of the Purchase Price to Seller and Purchaser in on the form attached as Exhibit B hereto (Closing Date, the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall be non-refundable except returned to Purchaser, and shall otherwise be held, credited, disbursed and refunded in the manner set forth herein. For purposes of this Agreement, "Purchaser Permitted Termination Event" means the termination of this Agreement by Purchaser for any of the following reasons: (i) pursuant to Section 3.2 as a result of Purchaser's inspection of the Property; (ii) pursuant to Section 2.3 as a result of a title or survey matter; (iii) pursuant to Section 4.6 if a closing condition benefiting Purchaser is not satisfied; (v) pursuant to Section 7.1 in the event of failure "major" damage to close this transaction by reason the Property; or (vi) pursuant to Section 6.2 in the event of a default by Seller or if Purchaser is expressly otherwise entitled to the return of the Exxxxxx Money pursuant to the terms of this Agreementdefault.

Exxxxxx Money. In order to secure Purchaser’s performance of this Agreement, Purchaser shall, within two (i) Within five (52) business days after the execution and delivery Effective Date of this Agreement by both Purchaser and Seller Agreement, deposit FOUR MILLION AND NO/100 DOLLARS ($4,000,000.00) in cash or other readily available funds with Heritage Title Insurance Company of Austin, Inc., (the date this Agreement “Title Company”) at its offices at 400 Xxxxxxxx Xxxxxx, Xxxxx 0000, Xxxxxx, Xxxxx 00000, Attn: Axx Xxxxxx. All cash deposited with the Title Company pursuant to the terms hereof is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective Date”), Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) in the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon is referred to in this Agreement collectively as the “Exxxxxx Money”.” The Exxxxxx Money will be placed in an interest bearing account at one or more state or federally chartered banks while under the control of the Title Company, and all interest earned thereon will become part of the Exxxxxx Money hereunder. If Purchaser so directs will promptly execute and deliver to the Escrowee, Escrowee shall Title Company all documents and certificates as are required by Title Company to invest the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securitiesaccount. Any If the transaction contemplated hereby is consummated in accordance with the terms and all interest earned on provisions hereof, the Exxxxxx Money shall be reported to Purchaser’s federal tax identification numberapplied against the Purchase Price at Closing. If the transaction is not so consummated, and the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money as provided for in this agreement. The Exxxxxx Money shall be held and delivered by Escrowee pursuant to a joint order escrow agreement between Seller and Purchaser in the form attached Title Company as Exhibit B hereto (hereinafter provided. Upon the expiration of the “SDP Contingency Period” (defined in Section 4.03.A), the Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall will only be non-refundable except in to Purchaser upon a Seller Default or upon any specific termination right of Purchaser that expressly provides for the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return refund of the Exxxxxx Money pursuant to Purchaser and, otherwise, will be delivered to Seller as and when provided under the terms provisions of this Agreement.

Exxxxxx Money. (i) Within five (5) business days after the Contemporaneous with Buyer’s execution and delivery of this Agreement by both Purchaser and Seller Agreement, Buyer shall post with Bank of New York Trust Company of Florida, N.A., as escrow agent (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective DateEscrow Agent”), Purchaser shall deliver an amount equal to First American Title Insurance Company $5,000,000 (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) in the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon is referred to in this Agreement as the “Exxxxxx Money”), pursuant to the terms of the Escrow Agreement attached hereto as Exhibit A (the “Escrow Agreement”). If Purchaser so directs In the Escroweeevent the Closing occurs, Escrowee shall invest the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall be reported paid by the Escrow Agent to Purchaser’s federal tax identification numberthe Sellers in accordance with Section 2.02(a) and credited against the amount to be paid by Buyer to Sellers pursuant to Section 2.02(a). If the Closing does not occur, and the interest earned on such funds Exxxxxx Money shall be paid or credited by the Escrow Agent to the party entitled Partnership or paid by the Escrow Agent to receive Buyer in accordance with the remaining provisions of this Section 2.07. In the event Buyer breaches this Agreement by failing or refusing to close the transaction contemplated hereby on the Closing Date and each of the conditions contained in Sections 9.01 and 9.02 (other than the condition set forth in Section 9.02(f)) otherwise has been either fulfilled (or was capable of being fulfilled, absent Buyer’s breach, in the case of the condition in Section 9.01(c)), or waived, the Escrow Agent shall pay the Exxxxxx Money to the Partnership as provided for damages. In addition, in the event Buyer does not close solely on account of a failure of the condition in Section 9.02(f) to be satisfied, the Escrow Agent shall pay the Exxxxxx Money to the Partnership as damages. In all other circumstances, including in the event where Buyer terminates this agreementAgreement pursuant to Section 2.05(g), the Exxxxxx Money shall be paid by the Escrow Agent to Buyer. The Exxxxxx Money shall be held invested by Escrowee pursuant to a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall be non-refundable except in the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return of the Exxxxxx Money Agent pursuant to the terms of this Agreementthe Escrow Agreement and any investment income thereon shall be payable to Buyer or as otherwise directed by Buyer.

Exxxxxx Money. (i) Within five (5) business days after For the execution purpose of securing the performance of Purchaser under the terms and delivery provisions of this Agreement by both Purchaser and Seller (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective Date”)Contract, Purchaser shall deliver has delivered to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the Escrow Agent the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) in (the form “Good Faith Deposit”) following execution of a check payable the LOI and prior to Escroweethe date hereof. Upon expiration of the Inspection Period and provided that Purchaser has not exercised its right to terminate this Contract, or a federal funds wire transfer to Purchaser shall deliver an account designated by Escrowee, which together with any additional exxxxxx money One Hundred Fifty Thousand and any interest earned thereon is No/100 Dollars ($150,000.00) (the “Deposit”) for an aggregate of Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00) (the Good Faith Deposit and the Deposit collectively hereinafter referred to in this Agreement as the “Exxxxxx MoneyMoney Deposit”) are non-refundable, except as otherwise provided herein. If Purchaser so directs the Escrowee, Escrowee shall invest the The Exxxxxx Money in Deposit shall be deposited into an interest bearing savings account bearing, readily available, liquid, federally insured account(s). The account(s) to which the funds are deposited shall be an escrow or short term U.S. Treasury Bills or similar cash equivalent securities. Any trust account(s) of the Escrow Agent and all interest earned on the Exxxxxx Money shall at all times be reported to Purchaser’s fully covered by federal tax identification number, and the interest earned on such funds shall be paid or credited to the party entitled to receive insurance so that no portion of the Exxxxxx Money as provided for in this agreementshall ever be at risk. The Exxxxxx Money Deposit (together with any interest earned thereon) shall constitute the Exxxxxx Money hereunder and shall be held by Escrowee held, invested, and disbursed pursuant to a joint order escrow agreement between Seller the respective terms and Purchaser in provisions hereof and of the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money If Purchaser terminates this Contract on or before the expiration of the Inspection Period in accordance with Section 3.05 hereof, the Good Faith Deposit shall be non-refundable except in promptly returned to Purchaser together with all interest earned thereon. Following the event expiration of failure to close this transaction by reason of a default by Seller or if the Inspection Period, Purchaser is expressly otherwise shall only be entitled to the return of the Exxxxxx Money Deposit from the Escrow Agent in the event this Contract is terminated pursuant to its terms under circumstances that entitle Purchaser to a return of the terms of this AgreementExxxxxx Money Deposit.

Exxxxxx Money. 4.1 Deposit of Exxxxxx Money. Purchaser shall deposit with Sxxxxxxx Marwell Hxxxxxxxx Xxxxx & Hxxxxx, P.C. (i) Within five hereinafter also called "Escrow Agent"), within two (52) business days after the execution and delivery of this Agreement by both Purchaser and Seller (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective Date”), Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum amount of One Hundred Thousand hundred thousand and No/100 Dollars 00/100 ($100,000.00) Dollars ( the "Initial Deposit") in the form of a check payable to Escrowee, or a federal funds cash by wire transfer in immediately available funds ( the "Initial Exxxxxx Money"). In addition to an account designated by Escroweethe Initial Deposit, which together with any additional exxxxxx money and any interest earned thereon is referred Purchaser, if it has not elected to in cancel this Agreement as by the “expiration of the Inspection Period, shall within two (2) business days thereafter deposit with the Escrow Agent the additional amount of Two hundred thousand and 00/100 ($200,000.00) Dollars (the "Additional Deposit") in cash by wire transfer in immediately available funds (collectively with the Initial Deposit, the "Exxxxxx Money”"). If Purchaser shall fail to so directs the Escrowee, Escrowee shall invest deposit the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned due under this Agreement with Escrow Agent on the Exxxxxx Money dates required, Seller shall be reported have the right to terminate this Agreement by delivering written notice to Purchaser’s federal tax identification number, . Upon receipt of the Initial Deposit and upon receipt of the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money Additional Deposit as provided for in this agreement. The Exxxxxx Money herein, Escrow Agent shall be held execute the written acknowledgement by Escrowee pursuant to a joint order escrow agreement between Seller and Purchaser Escrow Agent in the form attached as Exhibit B hereto to this Agreement to acknowledge that: (a) the “Exxxxxx Money Initial Deposit and a fully executed copy of this Agreement have been received by Escrow Agreement”). The Exxxxxx Money shall be non-refundable except in Agent; (b) the event of failure to close this transaction Additional Deposit has been received by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return of Escrow Agent; (c) the Exxxxxx Money is being held subject to clearance by Escrow Agent pursuant to the terms of this Agreement; and (d) Escrow Agent agrees to be bound by this Agreement and to perform Escrow Agent's obligations hereunder.

Exxxxxx Money. (i) Within five (5) business days after the execution and delivery of this Agreement by both Purchaser and Seller (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective Date”), 2.1.1 Purchaser shall deliver to First American Fidelity National Title Insurance Company Group National Commercial Services – Atlanta, Attn. Lxxxx Xxxx (the “Title Company”) within one (1) business day of the Effective Date exxxxxx money in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum of One Hundred Thousand and No/100 Dollars ONE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($100,000.00150,000.00) in the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which (together with any interest thereon, net of investment costs, the “Initial Exxxxxx Money”). Purchaser’s failure to timely deliver the Initial Exxxxxx Money as provided herein shall render this Agreement null and void. In the event Purchaser shall have timely delivered the Notice to Proceed (as hereinafter defined), as provided in Section 4.1.1 below, on or prior to the expiration of the Review Period (as hereinafter defined), then Purchaser shall, within one (1) business day after the expiration of the Review Period, deliver to the Title Company additional exxxxxx money in the sum of ONE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($150,000.00) (the “Additional Exxxxxx Money”). If this Agreement is terminated, the Exxxxxx Money shall be refunded to Purchaser or delivered to Seller as provided for below and neither party shall have any further liability to the other hereunder (except for liabilities that expressly survive termination of this Agreement). The Initial Exxxxxx Money and the Additional Exxxxxx Money, together with any interest earned thereon is thereon, net of investment costs, are collectively referred to in this Agreement as the “Exxxxxx Money”. If Purchaser so directs the Escrowee, Escrowee shall invest the .” The Exxxxxx Money shall be held and, at Purchaser’s election, invested by the Title Company in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securitieswith a federally insured financial institution reasonably acceptable to Purchaser. Any and all interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money as provided for in this agreement. The Exxxxxx Money shall be held by Escrowee pursuant to a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall be non-refundable except in the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return of the Exxxxxx Money pursuant to the terms of this Agreement.

Exxxxxx Money. Buyer is to deposit the Exxxxxx Money as follows: (ia) Within five two (52) business days after the execution and delivery of this Agreement by both Purchaser the parties, Buyer shall deposit the amount of One Hundred Fifty Thousand and Seller No/100 Dollars ($150,000.00) (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective DateInitial Deposit”)) with Fidelity National Title Group, Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx 6000 Xxxxxx Xxxxxx, Xxxxx 000XX-00, Xxxxxxx, Xxxxxxxx 00000Xxxxxxxxx 00000 (“Escrow Agent”); (b) if this Agreement has not been terminated prior to the expiration of the Inspection Period, Attention: Jxxx X. Xxxxxxxxxwithin two (2) business days following the expiration of the Inspection Period, Xx., Buyer shall deposit the sum additional amount of One Six Hundred Thousand and No/100 Dollars ($100,000.00600,000.00) (the “Final Deposit”) with Escrow Agent, and (c) if Buyer elects to extend the Closing Date, the Buyer shall deliver the “Extension Deposit” (as hereinafter defined) to Escrow Agent as provided in Section 4.1 (the form of a check payable Initial Deposit, Final Deposit and Extension Deposit, will all interest thereon as and when paid to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon Escrow Agent is referred to in this Agreement as the collectively “Exxxxxx Money”). If Purchaser so directs the Escrowee, Escrowee Escrow Agent shall invest pay the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and plus the interest earned on such funds shall be paid thereon (i) to Seller at and upon the Closing (and credit the same toward the payment of the Purchase Price) or credited (ii) otherwise to the party entitled to receive the Exxxxxx Money as provided for in accordance with this agreementAgreement. The However, unless and until the Closing occurs under this Agreement, the Exxxxxx Money shall be held and disbursed by Escrowee Escrow Agent pursuant to a joint order this Agreement which shall also serve as escrow instructions to Escrow Agent. Escrow Holder’s acceptance of the instructions and agreement between Seller and Purchaser to act in accordance with the same shall be evidenced by Escrow Agent’s execution of this Agreement in the form attached as Exhibit B hereto (space provided at the “Exxxxxx Money Escrow end of this Agreement”). The Exxxxxx Money (and each and every part thereof) shall be non-refundable except held in a federally insured interest bearing account in a financial institution acceptable to Buyer under Buyer’s tax identification number with any fees of the event of failure Escrow Holder to close this transaction be split equally by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return Buyer and Seller. The Final Deposit portion of the Exxxxxx Money pursuant may be in the form of a letter of credit issued by Regions Bank or other institutional lender reasonably acceptable to Seller, whereby such letter of credit shall be issued in the name of the Escrow Agent and shall entitled the Escrow Agent to draw upon such letter of credit (i) in the event the expiration date of such letter of credit is less than thirty (30) days, (ii) in the event that the Seller delivers written notice to the terms of Escrow Agent certifying that the Buyer is in default under this Agreement, which default has not been cured within the applicable cure period, or (iii) at the Closing to be applied toward the payment of the Purchase Price. The Exxxxxx Money and any interest earned thereon shall be fully refundable to Buyer through the Inspection Period, as defined herein. If, after the Inspection Period, the Buyer elects to proceed with the transaction, all Exxxxxx Money plus any interest earned thereon shall become non-refundable but applicable to the Purchase Price.

Exxxxxx Money. (i) Within five (5) one business days day after the execution and delivery of this Agreement by both Purchaser Agreement, and Seller as a condition precedent to Seller’s obligations under this Agreement, Buyer shall deposit the $2,000,000 of Exxxxxx Money with U.S. Bank National Association or an affiliate thereof (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective DateEscrow Agent”), Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) in the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon is referred to in this Agreement as the “Exxxxxx Money”. If Purchaser so directs the Escrowee, Escrowee shall invest the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money as provided for in this agreementCurrent Funds. The Exxxxxx Money shall be held by Escrowee the Escrow Agent in an interest bearing account pursuant to a joint order an escrow agreement between Seller and Purchaser in the form attached as of Exhibit B hereto (unless and until the “Exxxxxx Money is disbursed by the Escrow Agent in accordance with the terms of such escrow agreement. As provided in the Escrow Agreement”), the Exxxxxx Money shall be released (i) on the sole order of the Buyer or Buyer’s attorney at any time on or before September 20, 2004, and (ii) on the sole order of Seller or Seller’s attorney after September 20, 2004. If Buyer exercises its option(s) to extend the Closing Date pursuant to Section 9.1 below, then (a) upon the notice of the first extension, the $2,000,000 of initial Exxxxxx Money shall be released from the escrow to an account designated by Seller, and (b) concurrently with notice of each such exercise of an extension option Buyer shall deliver an additional $1,000,000 of non-refundable Exxxxxx Money to Seller by wire transfer to an account designated by Seller. The Exxxxxx Money shall (including any such further $1,000,000 extension option deposit(s)) will be non-refundable except in applied to the Acquisition Value due at Closing. In the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled either party, the Exxxxxx Money (including any such further $1,000,000 extension option deposit(s)) will be disbursed in accordance with Article XI hereof. Buyer’s failure to the return timely deposit any installment of the Exxxxxx Money pursuant shall constitute a default by Buyer hereunder and shall make this Agreement terminable at Seller’s option. However, if Seller chooses not to terminate this Agreement, Buyer shall remain contractually obligated to deposit the Exxxxxx Money in accordance with the terms hereof; and if Seller does elect to terminate this Agreement Buyer shall be obligated to pay to Seller the applicable installment of this Agreementthe Exxxxxx Money, which shall be retained by Seller along with any previous deposit(s) of the Exxxxxx Money as liquidated damages due to Seller.

Exxxxxx Money. Purchaser shall deliver to the PARAGON COMMERCIAL REAL ESTATE (i“Escrow Agent”) Within five within two (52) business days after the execution and delivery effective date of this Agreement Agreement, the sum of TWENTY FIVE THOUSAND AND NO ONE-HUNDREDTHS DOLLARS ($25,000.00) in cash to be held by both Purchaser and Seller (the date this Agreement is executed and delivered by both Escrow Agent in an interest-bearing escrow account as Purchaser and Seller shall be referred direct in accordance with the provisions of this Agreement, including, without limitation the supplemental escrow instructions set forth on Schedule 1 attached hereto and incorporated herein by reference. In the event there is a conflict between the provisions of this Agreement and the provisions of the supplemental escrow instructions, the provisions of this Agreement shall govern. If Purchaser does not terminate this Agreement pursuant to herein as Section 4.6, the “Effective Date”), Purchaser shall deliver to First American Title Insurance Company Escrow Agent within two (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., 2) business days after the expiration of the Inspection Completion Date an additional sum of One Hundred Thousand and No/100 Dollars ONE HUNDRED SEVENTY FIVE THOUSAND DOLLARS ($100,000.00175,000.00) to be held by Escrow Agent in an interest bearing account as Purchaser and Seller shall direct in accordance with the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money terms set forth above. Said payments are individually and any interest earned thereon is collectively referred to in this Agreement herein as the “Exxxxxx Money”. If Purchaser so directs Seller shall have the Escrowee, Escrowee shall invest option of terminating this Agreement if the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited is not delivered to the party entitled to receive Escrow Agent within either such times. If the Exxxxxx Money as provided for in this agreement. The Exxxxxx Money shall be held by Escrowee pursuant to a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall be non-refundable except in the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return sale of the Exxxxxx Money Property is consummated pursuant to the terms of this Agreement, the Exxxxxx Money and any accrued interest (less the Independent Consideration as defined in Section 3.2) shall be paid to Seller and applied to the payment of the Purchase Price. If Purchaser terminates this Agreement in accordance with any right to terminate granted by this Agreement, the Exxxxxx Money and any accrued interest (less the Independent Consideration) shall be promptly returned to Purchaser, and no party hereto shall have any further obligations under this Agreement. If Purchaser breaches this Agreement after Purchaser has approved the matters set forth in Section 4 of this Agreement, and the sale of the Property is not consummated as a result of such breach, all Exxxxxx Money deposited hereunder, together with all accrued interest, shall be delivered by the Escrow Agent to Seller, and no party shall have any further obligations under this Agreement.

Exxxxxx Money. Within one (i) Within five (51) business days day after the execution and delivery of this Agreement by both Purchaser and Seller (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective Date”), Purchaser shall deliver to deposit with Vanguard Title Insurance Agency, LLC, 2000 Xxx Xxxxx, Auburn Hills, MI 48326, Attention: Jxxx Xxxxxxx, as agent for First American Title Insurance Company (in such capacity, the “EscroweeTitle Company” and “Escrow Agent”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum of One Five Hundred Thousand and No/100 no/100 Dollars ($100,000.00500,000.00) (the “Initial Deposit”) in good funds, either by certified bank or cashier’s check or by federal wire transfer. Within one (1) business day after the form expiration of a check payable the Inspection Period, provided that this Agreement has not been validly terminated, Purchaser shall deposit with Escrow Agent an additional sum of Five Hundred Thousand and no/100 Dollars ($500,000.00) (the “Second Deposit”; the Initial Deposit and the Second Deposit as outstanding from time to Escroweetime, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any all interest earned thereon is in while Escrow, are hereinafter referred to in this Agreement as the “Exxxxxx Money”). If Purchaser so directs the Escrowee, Escrowee The Escrow Agent shall invest hold the Exxxxxx Money in an interest-bearing account in accordance with the terms and conditions hereof and any supplementary instructions executed by the parties pursuant to the provisions of Section 1.7 hereof. All interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned accruing on such sums shall become a part of the Exxxxxx Money and shall be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited to the party entitled to receive the distributed as Exxxxxx Money as provided for in accordance with the terms of this agreementAgreement. The Exxxxxx Money shall be held by Escrowee pursuant to a joint order escrow agreement between Seller and Purchaser in Upon the form attached as Exhibit B hereto (expiration of the “Exxxxxx Money Escrow Agreement”). The Inspection Period, the Exxxxxx Money shall be non-refundable to Purchaser except as expressly set forth in the event of failure this Agreement. If Purchaser fails to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return of deliver the Exxxxxx Money pursuant to the terms Title Company within the time period specified above, Seller may, at its option, deliver written notice to the Escrow Agent terminating this Agreement and, if such termination is due to Purchaser’s failure to timely deposit the Second Deposit, the Exxxxxx Money previously deposited (i.e., the Initial Deposit) shall be paid to Seller and neither party shall have any further rights, obligations, or liabilities hereunder except to the extent that any right, obligation or liability set forth herein expressly survives termination of this Agreement. Time is of the essence for the delivery of Exxxxxx Money under this Agreement.

Exxxxxx Money. Purchaser shall, within one (i) Within five (51) business days after the day following full execution and delivery of this Agreement by both Purchaser and Seller (Agreement, deposit with the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein Title Company, as the “Effective Date”), Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx.escrow agent, the sum of One Hundred Thousand and No/100 Dollars $375,000 ($100,000.00) in the form of a check payable to Escrowee“Initial Deposit”), or a federal funds wire transfer to an account designated by Escroweeas exxxxxx money (the Initial Deposit, which together with any additional exxxxxx money the Additional Deposit (as hereinafter defined), and any all interest earned thereon is accruing thereon, being herein referred to in this Agreement collectively as the “Exxxxxx Money”), which shall be in the form of a wire transfer of immediately available funds. If Provided that Purchaser so directs has not terminated this Agreement pursuant to Section 3.2(b) below: (i) on or before the EscroweeDue Diligence Expiration Date, Escrowee Purchaser shall invest increase the Exxxxxx Money in to $650,000 by depositing with the Title Company an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any additional $275,000 (the “Additional Deposit”) by wire transfer of immediately available funds and (ii) upon the expiration of the Due Diligence Period, all interest earned on of the Exxxxxx Money shall be reported become fully non-refundable and payable to Purchaser’s federal tax identification numberSeller, and the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money except as otherwise expressly provided for in this agreementherein. The Exxxxxx Money shall be held and disbursed by Escrowee the Title Company pursuant to a joint order the escrow agreement between Seller and Purchaser in the form of Exhibit E attached as Exhibit B hereto (hereto, which the “Exxxxxx Money Escrow parties have executed and delivered simultaneously with the execution and delivery of this Agreement”). The Exxxxxx Money shall be non-refundable except invested as provided in the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return said escrow agreement, with all interest accruing thereon being deemed part of the Exxxxxx Money pursuant for all purposes hereunder. If the sale hereunder is consummated in accordance with the terms hereof, the Exxxxxx Money shall be paid to Seller and applied to the terms Purchase Price to be paid by Purchaser at the Closing. In all other instances, the Exxxxxx Money shall be paid to Seller or Purchaser as provided in other provisions of this Agreement.

Exxxxxx Money. (i) Within five (5) business days after the execution and delivery of this Agreement by both Purchaser and Seller (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective Date”), Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the The sum of One Hundred Seventy-Five Thousand and No/100 Dollars dollars ($100,000.0075,000) in the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon is referred to in this Agreement as (the “Exxxxxx Money”. If Purchaser so directs ) has been paid to the Escrowee, Escrowee shall invest Seller upon the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, execution of this Agreement and the interest earned on such funds shall be paid or credited to receipt of said $75,000 is hereby acknowledged by the party entitled to receive the Exxxxxx Money as provided for in this agreementSeller. The Exxxxxx Money shall be held by Escrowee pursuant to a joint order escrow agreement between paid into an interest-bearing account in the name of the Seller and Purchaser in Buyer at the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”)Bank. The Exxxxxx Money shall only be non-refundable except in the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled withdrawn pursuant to the return terms and conditions of this Agreement. The parties hereby agree that if the transaction contemplated herein cannot be consummated as set forth in this Agreement due either (i) to a misrepresentation or breach of any warranty or covenant contained herein by Seller, including, without limitation, Buyer’s termination of this Agreement pursuant to Section 14(b) if such termination is the result of Seller’s actions or failures, or (ii) the Buyer’s termination of this Agreement pursuant to Section 14(c) or 14(d), or (iii) by mutual written consent of the Seller and Buyer, the Exxxxxx Money paid hereunder plus any accrued interest thereon shall be immediately refunded to Buyer. Should the transaction contemplated herein not be consummated for any reason other than specifically hereinabove described, including, without limitation, failure to obtain approval of the transaction from regulatory authorities and the termination of this Agreement by either the Buyer or the Seller pursuant to the terms of Section 14 of this AgreementAgreement (other than those sections of Section 14 specifically referenced above), Seller shall be entitled to all of the Exxxxxx Money (plus any accrued interest thereon). In the event the transaction herein is consummated, the Exxxxxx Money (plus any interest accrued thereon) shall be applied to the Merger Consideration.

Exxxxxx Money. Buyer shall, within two (i) Within five (52) business days after the execution and delivery Effective Date, deposit with the Escrow Company, as escrow agent, the sum of this Agreement by both Purchaser and Seller $500,000 as exxxxxx money (the date this Agreement is executed and delivered by both Purchaser and Seller shall be said amount being referred to herein as the “Effective DateInitial Exxxxxx Money”), Purchaser shall deliver to First American Title Insurance Company (in such capacityand, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) in the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money the “Additional Exxxxxx Money” deposit described below, and any all interest earned thereon is accruing thereon, being herein referred to in this Agreement collectively as the “Exxxxxx Money”), which shall be in the form of a wire transfer of immediately available funds. If Purchaser so directs Provided that Buyer has not terminated this Agreement pursuant to Section 3.2 below, within two (2) business days after the EscroweeDue Diligence Expiration Date, Escrowee Buyer shall invest increase the Exxxxxx Money in to $1,500,000 by depositing with the Escrow Company an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securitiesadditional $1,000,000 by wire transfer of immediately available funds (the “Additional Exxxxxx Money”). Any and Upon the expiration of the Due Diligence Period, all interest earned on of the Exxxxxx Money shall be reported become fully non-refundable and payable to Purchaser’s federal tax identification numberSeller, and the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money except as otherwise expressly provided for in this agreementherein. The Exxxxxx Money shall be held and disbursed by Escrowee the Escrow Company pursuant to a joint order the escrow agreement between Seller and Purchaser in the form of Exhibit E attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”), which the parties have executed and delivered simultaneously with the execution and delivery of this Agreement. The Exxxxxx Money shall be non-refundable except invested as provided in the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return said Escrow Agreement, with all interest accruing thereon being deemed part of the Exxxxxx Money pursuant for all purposes hereunder. In the event Buyer fails to deliver any portion of the Exxxxxx Money within the time provided in this Agreement, Seller may, prior to Buyer’s deposit of such portion of the Exxxxxx Money with the Escrow Company, at Seller’s option and without limiting any of its other rights or remedies, terminate this Agreement by written notice to Buyer, whereupon any portion of the Exxxxxx Money previously delivered to Escrow Company shall be immediately delivered to Seller, this Agreement shall terminate, and the parties hereto shall have no further obligations to the other except for the Termination Surviving Obligations. If the sale hereunder is consummated in accordance with the terms hereof, the Exxxxxx Money shall be paid to Seller and applied to the Purchase Price to be paid by Buyer at the Closing. In all other instances, the Exxxxxx Money shall be paid to Seller or Buyer as provided in other provisions of this Agreement.

Exxxxxx Money. Purchaser shall deposit in escrow with the Escrow Agent within two (i) Within five (52) business days after of the execution and delivery of hereof, Six Hundred Fifty Thousand Dollars ($650,000) (such deposit together with any interest that may be earned these prior to Closing, being hereinafter called the "Initial Deposit"). If Purchaser does not elect to terminate this Agreement by both Purchaser and Seller during the Investigation Period (as hereinafter defined), prior to the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as expiration of the “Effective Date”)Investigation Period, Purchaser shall deliver to First American Title Insurance Company (Escrow Agent an additional deposit in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum amount of One Three Hundred Thousand and No/100 Dollars ($100,000.00300,000) in (the form of a check payable to Escrowee, "Additional Deposit"). The Initial Deposit and the Additional Deposit are sometimes individually or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon is collectively referred to in this Agreement as the “"Exxxxxx Money”. If Purchaser so directs the Escrowee, Escrowee shall invest the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money as provided for in this agreement". The Exxxxxx Money shall be held by Escrowee pursuant deposited in an interest bearing account using Purchaser’s tax identification number which shall be provided to a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”)Agent. The Exxxxxx Money shall be applied against the cash portion of the purchase price at Closing (as hereinafter defined) or refunded in full to Purchaser as hereinafter provided in Paragraph 15. If Purchaser does not notify Seller prior to the expiration of the Investigation Period that Purchaser elects to terminate this Agreement, the Initial Deposit shall be non-refundable except for any reason other than (i) a default by Seller, (ii) in the event of failure any condition to close Purchaser’s obligations under this transaction by reason of a default by Agreement is not satisfied as provided herein, or (iii) as otherwise specifically provided herein. If Purchaser does not notify Seller or if Purchaser is expressly otherwise entitled prior to the return expiration of the Exxxxxx Money pursuant Investigation Period that Purchaser elects to terminate this Agreement and Purchaser fails to make the terms Additional Deposit as required, Purchaser shall be in default of this AgreementAgreement and Seller shall have the right to terminate this Agreement and retain the Initial Deposit as provided in Paragraph 8.

Exxxxxx Money. Within two (i) Within five (52) business days after following the execution and delivery Effective Date, Purchaser will deliver to the Escrow Agent the sum of this Agreement by both Purchaser and Seller SEVEN HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($750,000.00) (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective DateFirst Exxxxxx Money”). Within two (2) business days following the expiration of the Study Period, assuming Purchaser has not previously elected to terminate this Agreement, Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the Escrow Agent the additional sum of One Hundred Thousand and No/100 Dollars FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($100,000.00500,000.00) in (the form of a check payable to Escrowee“Second Exxxxxx Money”‘) (the First Exxxxxx Money and the Second Exxxxxx Money, or a federal funds wire transfer to an account designated by Escroweeif any, which together with any additional exxxxxx money and any all interest earned thereon is are hereinafter collectively referred to in this Agreement as the “Exxxxxx Money”). If Purchaser so directs fails to deliver the Escrowee, Escrowee shall invest the Second Exxxxxx Money within such two (2) business day period, then Seller shall have the right (exercisable in an interest bearing savings account its sole discretion) to terminate this Agreement by delivery of written notice to Purchaser giving Purchaser three (3) business days after Purchaser’s receipt of such notice to deliver the Second Exxxxxx Money to Escrow Agent. If no such termination notice is given by Seller as herein provided, then the Agreement shall continue in full force and effect in accordance with its terms. If Seller provides the termination notice to Purchaser and Purchaser fails to deliver the Second Exxxxxx Money to Escrow Agent within three (3) business days after Purchaser’s receipt of Seller’s notice, the Seller and Purchaser each shall promptly instruct Escrow Agent to pay the First Exxxxxx Money to Seller and, except under those provisions of the Agreement that by their express terms survive the termination of the Agreement, shall have no further rights or short term U.S. Treasury Bills or similar cash equivalent securitiesobligations under this Agreement. Any and all interest earned on the The Exxxxxx Money shall be reported to Purchaser’s federal tax identification numberinvested by the Escrow Agent in short-term interest bearing accounts at banks or other financial institutions, and which accounts must be insured by the Federal Deposit Insurance Corporation. All interest earned on such funds deposits shall be paid or credited belong to the party (as between Seller and Purchaser) who is entitled to receive the Exxxxxx Money as provided for under the applicable provisions of this Agreement. In the event the transactions contemplated herein are not closed in this agreement. The accordance with the provisions hereof, the Exxxxxx Money shall be held by Escrowee pursuant disbursed to a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall be non-refundable except in the event of failure to close this transaction by reason of a default by either Seller or if Purchaser is expressly otherwise entitled to the return of the Exxxxxx Money pursuant to the terms of as provided in this Agreement.

Exxxxxx Money. Buyer is to deposit the Exxxxxx Money as follows: (ia) Within five two (52) business days after the execution and delivery of this Agreement by both Purchaser the parties, Buyer shall deposit the amount of One Hundred Fifty Thousand and Seller No/100 Dollars ($150,000.00) (the date “Initial Deposit”) with Escrow Holder; and (b) if this Agreement is executed and delivered by both Purchaser and Seller has not been terminated prior to the expiration of the Initial Inspection Period, within two (2) business days following the expiration of the Initial Inspection Period, Buyer shall be referred to herein as deposit the “Effective Date”), Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum additional amount of One Six Hundred Thousand and No/100 Dollars ($100,000.00600,000.00) in (the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together “Final Deposit”) with any additional exxxxxx money and any Escrow Holder. Escrow Holder shall pay the Exxxxxx Money plus the interest earned thereon is referred (i) to in this Agreement as Seller at and upon the “Exxxxxx Money”. If Purchaser so directs Closing (and credit the Escrowee, Escrowee shall invest same toward the Exxxxxx Money in an interest bearing savings account payment of the Purchase Price) or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited (ii) otherwise to the party entitled to receive the Exxxxxx Money as provided for in accordance with this agreementAgreement. The However, unless and until the Closing occurs under this Agreement, the Exxxxxx Money shall be held and disbursed by Escrowee Escrow Holder pursuant to a joint order this Agreement which shall also serve as escrow instructions to Escrow Holder. Escrow Holder’s acceptance of the instructions and agreement between Seller and Purchaser to act in accordance with the same shall be evidenced by Escrow Holder’s execution of this Agreement in the form attached as Exhibit B hereto (space provided at the “Exxxxxx Money Escrow end of this Agreement”). The Exxxxxx Money (and each and every part thereof) shall be non-refundable except held in the event of failure a federally insured interest bearing account in a financial institution acceptable to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return Buyer under Buyer’s tax identification number with any fees of the Exxxxxx Money pursuant Escrow Holder to the terms of this Agreementbe split equally by Buyer and Seller.

Exxxxxx Money. Within one (i) Within five (51) business days after day of the full execution and delivery of this Agreement by both Purchaser and Seller (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective Date”)Agreement, Purchaser shall deliver to First American will depositing with Chicago Title Insurance Company (in such capacity, “Escrowee”the "Title Company"), whose address is 30 having its office at 2000 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000Suite 800, XxxxxxxDallas, Xxxxxxxx 00000Texas, Attention: Jxxx X. Xxxxxxxxx, Xx.Exxxx Xxxxxx (the "Escrow Agent"), the sum of One Hundred Thousand and No/100 Dollars FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($100,000.00500,000.00) (the "First Deposit") in the form of a check payable to Escroweegood funds, or a by federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon is referred to in this Agreement as the “Exxxxxx Money”of immediately available funds. If Purchaser so directs does not exercise the Escroweeright to terminate this Agreement prior to the expiration of the Inspection Period in accordance with Sections 2.4, Escrowee 3.3, 6.2, 7.2 or 7.3 hereof, Purchaser will, on or before the last date of the Inspection Period (as such term is defined in Section 3.1 hereof), deposit with the Escrow Agent the additional sum of FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($500,000.00) (the "Second Deposit") in good funds, by federal wire transfer of immediately available funds as an additional deposit under this Agreement. The Escrow Agent shall invest hold the Exxxxxx Money First Deposit and the Second Deposit in an interest interest-bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securitiesin accordance with the terms and conditions of this Agreement. Any The First Deposit and the Second Deposit, together with all interest earned on such sums, are herein referred to collectively as the "Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and the Money." All interest earned accruing on such funds sums shall be paid or credited to the party entitled to receive the Exxxxxx Money as provided for in this agreement. The Exxxxxx Money shall be held by Escrowee pursuant to become a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall be non-refundable except in the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return part of the Exxxxxx Money pursuant to and shall be distributed as Exxxxxx Money in accordance with the terms of this Agreement. If Purchaser fails to deliver the Second Deposit to the Escrow Agent within the time period specified above, then Seller may terminate this Agreement, whereupon Escrow Agent shall deliver the Exxxxxx Money to Seller promptly thereafter, and neither party shall have any further rights, obligations or liabilities hereunder except to the extent that any right, obligation or liability set forth herein expressly survives termination of this Agreement. Time is of the essence for the delivery of Exxxxxx Money under this Agreement. Following the expiration of the Inspection Period, the Exxxxxx Money shall become non-refundable to Purchaser unless otherwise expressly set forth in this Agreement.

Exxxxxx Money. Within two (i2) Within five business days following execution of this Agreement by both parties and as a condition precedent to Seller’s obligations hereunder, Purchaser shall deliver to Chicago Title Insurance Company, 1000 Xxxxxx Xxxxxx, Xxxxx 0000, Xxxxxxxxxxxx, XX 00000-0000, Attn: Exxxx X. Xxxxxx (5the "Escrow Agent"), by check or wire transfer of immediately available funds, a deposit in the amount of $350,000 (the "Initial Exxxxxx Money") which the Escrow Agent shall immediately deposit for collection in an interest-bearing, federally insured account. In the event Purchaser elects to extend the Closing Date as provided in Section 8 below, Purchaser shall deposit with the Escrow Agent additional exxxxxx money in the amount of $350,000 (the "Additional Exxxxxx Money") within one (1) business day after the date of delivery of the Extension Notice (as defined below). The Initial Exxxxxx Money and the Additional Exxxxxx Money (if and when it is deposited by Purchaser with the Escrow Agent) are collectively and individually referred to herein as the "Exxxxxx Money"). Benchmark Title Services, 2000 XxXxxxxx Xxxxxx, 4th Floor, Dallas, Texas 75201, Attn: Bxxxx Xxxxx, (000) 000-0000 (the "Title Company") shall be responsible for the issuance of the Title Commitment and the Title Policy (as such terms are hereinafter defined) and the completion of the escrow and closing functions relating to the closing of the sale contemplated by this Agreement (other than the receipt and disbursement of the Exxxxxx Money). In the event Purchaser shall fail to deliver any portion of the Exxxxxx Money as and when required hereunder, or if any Exxxxxx Money check is not honored when presented by the Escrow Agent, or if the Escrow Agent fails to deliver the Exxxxxx Money in accordance with the terms of this Agreement and Purchaser fails to (within two (2) business days after the execution date that it receives written notice of such delivery failure) instruct the Escrow Agent to deliver the Exxxxxx Money to the party entitled to the same under the terms of this Agreement, Purchaser shall be deemed to be in material default of its obligations hereunder, thereby entitling Seller to terminate this Agreement and to enforce any other remedies for default hereunder. The timely delivery of this Agreement the Exxxxxx Money as required by both Purchaser and Seller (the date this Agreement is executed and delivered by both an obligation of Purchaser and Seller shall be referred is a condition to herein as Seller’s obligations hereunder. In the “Effective Date”), Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) in the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon is referred to in event this Agreement as the “Exxxxxx Money”. If Purchaser so directs the Escroweeis closed, Escrowee shall invest the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited applied to the party entitled to receive Purchase Price at Closing. In the event this Agreement is not closed, then the Escrow Agent shall disburse the Exxxxxx Money as provided for in this agreement. The Exxxxxx Money shall be held by Escrowee pursuant to a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (manner set forth herein. Concurrently with the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall be non-refundable except in the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return of the Exxxxxx Money pursuant to the terms execution of this Agreement, Purchaser shall deliver the sum of $100.00 (the "Independent Consideration") to the Escrow Agent as independent consideration for the execution of this Agreement by Seller and Purchaser. The Independent Consideration shall not be refundable to Purchaser and, following receipt by the Escrow Agent, shall be delivered by the Escrow Agent to, and thereafter retained by, Seller.

Exxxxxx Money. Within two (i) Within five (52) business days after following the execution and delivery Effective Date, Purchaser will deliver to the Escrow Agent the sum of this Agreement by both Purchaser and Seller SEVEN HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($750,000.00) (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective DateFirst Exxxxxx Money”). Within two (2) business days following the expiration of the Study Period, assuming Purchaser has not previously elected to terminate this Agreement, Purchaser shall deliver to First American Title Insurance Company (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the Escrow Agent the additional sum of One Hundred Thousand and No/100 Dollars FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($100,000.00500,000.00) in (the form of a check payable to Escrowee“Second Exxxxxx Money”) (the First Exxxxxx Money and the Second Exxxxxx Money, or a federal funds wire transfer to an account designated by Escroweeif any, which together with any additional exxxxxx money and any all interest earned thereon is are hereinafter collectively referred to in this Agreement as the “Exxxxxx Money”). If Purchaser so directs fails to deliver the Escrowee, Escrowee shall invest the Second Exxxxxx Money within such two (2) business day period, then Seller shall have the right (exercisable in an interest bearing savings account its sole discretion) to terminate this Agreement by delivery of written notice to Purchaser giving Purchaser three (3) business days after Purchaser’s receipt of such notice to deliver the Second Exxxxxx Money to Escrow Agent. If no such termination notice is given by Seller as herein provided, then the Agreement shall continue in full force and effect in accordance with its terms. If Seller provides the termination notice to Purchaser and Purchaser fails to deliver the Second Exxxxxx Money to Escrow Agent within three (3) business days after Purchaser’s receipt of Seller’s notice, the Seller and Purchaser each shall promptly instruct Escrow Agent to pay the First Exxxxxx Money to Seller and, except under those provisions of the Agreement that by their express terms survive the termination of the Agreement, shall have no further rights or short term U.S. Treasury Bills or similar cash equivalent securitiesobligations under this Agreement. Any and all interest earned on the The Exxxxxx Money shall be reported to Purchaser’s federal tax identification numberinvested by the Escrow Agent in short-term interest bearing accounts at banks or other financial institutions, and which accounts must be insured by the Federal Deposit Insurance Corporation. All interest earned on such funds deposits shall be paid or credited belong to the party (as between Seller and Purchaser) who is entitled to receive the Exxxxxx Money as provided for under the applicable provisions of this Agreement. In the event the transactions contemplated herein are not closed in this agreement. The accordance with the provisions hereof, the Exxxxxx Money shall be held by Escrowee pursuant disbursed to a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall be non-refundable except in the event of failure to close this transaction by reason of a default by either Seller or if Purchaser is expressly otherwise entitled to the return of the Exxxxxx Money pursuant to the terms of as provided in this Agreement.

Exxxxxx Money. (ia) Within five (5) business days after the execution and delivery of this Agreement by both Purchaser and Seller (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as the “Effective Date”), Purchaser shall deliver to First American Title Insurance Company the Escrow Holder no later than 5:00 pm (in such capacity, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx.Florida time) on the second (2nd) Business Days after a counterpart of this Agreement signed by Purchaser and Seller has been delivered to Purchaser, the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) in the form of a check payable to Escrowee, or a 1,277,000 by federal funds wire transfer to an account designated by Escrowee, which (together with any additional exxxxxx money and any all interest earned thereon is referred to in this Agreement as thereon, the “Exxxxxx Money”). If Purchaser so directs the Escrowee, Escrowee This Agreement shall invest terminate and be deemed void ab initio if the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money as provided for in this agreementis not timely deposited with Escrow Holder. The Exxxxxx Money shall be held in escrow by Escrowee pursuant the Escrow Holder in a segregated interest-bearing account, with interest accruing for the benefit of the party entitled to a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (payment or return of the “Exxxxxx Money Escrow Agreement”)Money. The Exxxxxx Money shall be non-refundable except paid to Seller and applied toward the Purchase Price at Closing, and shall otherwise be paid or applied in the event of failure to close accordance with this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return Agreement. $339,374 of the Exxxxxx Money pursuant (the “Deerwood Exxxxxx Money”) shall be allocated to Deerwood Village. $412,144 of the Exxxxxx Money shall be allocated to Villa Tuscany (the “Villa Tuscany Exxxxxx Money”). $61,821 of the Exxxxxx Money shall be allocated to Midway Mxxxx, and $463,661 of the Exxxxxx Money shall be allocated to Vista Grande (the “Vista Gxxxxx Xxxxxxx Money”). The Villa Tuscany Exxxxxx Money shall remain in escrow following the Closing of Vista Grande and Midway Mxxxx, and shall be paid to Seller and applied to the terms Villa Tuscany Purchase Price and, if applicable, the portion of the Purchase Price allocated to the Deerwood Village Apartment Complex at the Closing of each such Apartment Complex, and shall otherwise be paid or applied in accordance with this Agreement.

Exxxxxx Money. (i) Within five (5) Buyer shall, within two business days after the execution and delivery Effective Date, deposit with the Escrow Company, as escrow agent, the sum of this Agreement by both Purchaser and Seller $250,000, as exxxxxx money (the date this Agreement is executed and delivered by both Purchaser and Seller shall be said amount being referred to herein as the “Effective DateInitial Exxxxxx Money”, and, together with (i) the “Additional Exxxxxx Money” deposit described below, and (ii) the Extension Deposit (as defined in Section 4.1 below), Purchaser shall deliver to First American Title Insurance Company (in such capacityand all interest accruing thereon, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) in the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon is being herein referred to in this Agreement collectively as the “Exxxxxx Money”), which shall be in the form of a wire transfer of immediately available funds. If Purchaser so directs Provided that Buyer has not terminated this Agreement pursuant to Section 3.2 below, within two business days after the EscroweeDue Diligence Expiration Date, Escrowee Buyer shall invest increase the Exxxxxx Money in to $400,000 by depositing with the Escrow Company an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securitiesadditional $150,000 by wire transfer of immediately available funds (the “Additional Exxxxxx Money”). Any and Upon expiration of the Due Diligence Period, all interest earned on of the Exxxxxx Money shall be reported become fully non-refundable and payable to Purchaser’s federal tax identification numberSeller, and the interest earned on such funds shall be paid or credited to the party entitled to receive the Exxxxxx Money except as otherwise expressly provided for in this agreementherein. The Exxxxxx Money shall be held and disbursed by Escrowee the Escrow Company pursuant to a joint order the escrow agreement between Seller and Purchaser in the form of Exhibit J attached as Exhibit B hereto (the “Exxxxxx Money "Escrow Agreement”"), which the parties have executed and delivered simultaneously with the execution and delivery of this Agreement. The Exxxxxx Money shall be non-refundable except invested as provided in the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled to the return said Escrow Agreement, with all interest accruing thereon being deemed part of the Exxxxxx Money pursuant for all purposes hereunder. In the event Buyer fails to deliver any portion of the Exxxxxx Money within the time provided in this Agreement, Seller may, prior to Buyer’s deposit of such portion of the Exxxxxx Money with the Escrow Company, at Seller’s option and without limiting any of its other rights or remedies, terminate this Agreement by written notice to Buyer, whereupon any portion of the Exxxxxx Money previously delivered to Escrow Company shall be immediately delivered to Seller, this Agreement shall terminate, and the parties hereto shall have no further obligations to the other except for the Termination Surviving Obligations. If the sale hereunder is consummated in accordance with the terms hereof, the Exxxxxx Money shall be paid to Seller and applied to the Purchase Price to be paid by Buyer at the Closing. In all other instances, the Exxxxxx Money shall be paid to Seller or Buyer as provided in other provisions of this Agreement.

Exxxxxx Money. Section 4.1 Within two (i2) Within five (5) business days Business Days after the execution and delivery Effective Date, Purchaser shall deposit the sum of this Agreement by both Purchaser and Seller TWO HUNDRED THOUSAND AND NO/100 DOLLARS (the date this Agreement is executed and delivered by both Purchaser and Seller shall be referred to herein as $200,000.00) (hereinafter called the “Effective DateFirst Exxxxxx Money”), in good and sufficient funds, with the Escrow Agent. The Escrow Agent shall, pending consummation of this transaction, hold the First Exxxxxx Money in escrow in an interest bearing account at a financial institution reasonably acceptable to Purchaser. Within one (1) Business Day following the expiration of the Inspection Period, Purchaser shall deliver to First American Title Insurance Company deposit the sum of FIFTY THOUSAND AND NO/100 DOLLARS (in such capacity, $50,000.00) (hereinafter called the “EscroweeSecond Exxxxxx Money”), whose address is 30 Xxxxx XxXxxxx Xxxxxxin good and sufficient funds, Xxxxx 000with the Escrow Agent. The Escrow Agent shall, Xxxxxxxpending consummation of this transaction, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx.hold the Second Exxxxxx Money in escrow in an interest bearing account at a financial institution reasonably acceptable to Purchaser. The First Exxxxxx Money, the sum of One Hundred Thousand Second Exxxxxx Money, and No/100 Dollars ($100,000.00) in the form of a check payable to EscroweeExtension Deposit, or a federal funds wire transfer to an account designated by Escroweeif made, which together with any additional exxxxxx money and any interest earned thereon is are hereinafter referred to in this Agreement as the “Exxxxxx Money”. If Purchaser so directs the Escrowee, Escrowee shall invest the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all .” All interest earned on the Exxxxxx Money shall be reported to Purchaser’s federal tax identification number, and the interest earned on such funds shall be paid or credited to the party entitled to receive become a part of the Exxxxxx Money and shall be delivered by Escrow Agent to the Title Company in accordance with Section 3.1 above and applied to the Purchase Price in the event the transaction contemplated hereby closes. Except as otherwise provided for in this agreement. The herein, the Exxxxxx Money shall be held by Escrowee pursuant paid to a joint order escrow agreement between Seller and Purchaser in otherwise credited against the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”)Purchase Price at Closing. The Exxxxxx Money shall be non-refundable except in In the event of failure to close the transaction contemplated by this transaction by reason of a default by Seller or if Purchaser Agreement is expressly otherwise entitled to not closed, then the return of Escrow Agent shall disburse the Exxxxxx Money pursuant to in the terms of this Agreementmanner provided for elsewhere herein.

Exxxxxx Money. Within three (i) Within five (53) business days after the execution Effective Date, Purchaser will pay into a strict joint order escrow with Seller at the Title Insurer the sum of $215,000.00 as exxxxxx money (together with any interest earned thereon, the "Exxxxxx Money"). The Exxxxxx Money may be invested by the Title Insurer as Purchaser directs in United States Treasury Bills or a federally insured money market account. Seller and delivery Purchaser shall share equally the cost of this Agreement the joint order escrow, but Purchaser shall bear the cost of any investment fee charged by both Purchaser and Seller (the date Title Insurer as escrowee. If this Agreement is executed and delivered terminated: (a) by both Purchaser and Seller shall be referred to herein as before the “Effective Date”)end of the Review Period in accordance with Article 4 hereof, then, provided Purchaser shall deliver to First American Title Insurance Company (in such capacityhas complied with its obligations under the fourth grammatical paragraph of Article 4 hereof, “Escrowee”), whose address is 30 Xxxxx XxXxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000, Attention: Jxxx X. Xxxxxxxxx, Xx., the sum of One Hundred Thousand and No/100 Dollars ($100,000.00) in the form of a check payable to Escrowee, or a federal funds wire transfer to an account designated by Escrowee, which together with any additional exxxxxx money and any interest earned thereon is referred to in this Agreement as the “Exxxxxx Money”. If Purchaser so directs the Escrowee, Escrowee shall invest the Exxxxxx Money in an interest bearing savings account or short term U.S. Treasury Bills or similar cash equivalent securities. Any and all interest earned on the Exxxxxx Money shall be reported returned to Purchaser’s federal tax identification number; (b) because of a material breach of this Agreement by Seller, and then the interest earned on such funds Exxxxxx Money shall be returned to Purchaser; (c) pursuant to Section 5.4 hereof, then, provided Purchaser has complied with its obligations under the fourth grammatical paragraph of Article 4 hereof, the Exxxxxx Money shall be returned to Purchaser; or (d) pursuant to Section 6.3 hereof, then the Exxxxxx Money shall be returned to Purchaser. Except as provided in the immediately preceding sentence, the Exxxxxx Money shall be paid or credited to the party entitled to receive the Exxxxxx Money as provided for in this agreementAgreement. The Exxxxxx Money shall be held by Escrowee pursuant to a joint order escrow agreement between Seller and Purchaser in the form attached as Exhibit B hereto (the “Exxxxxx Money Escrow Agreement”). The Exxxxxx Money shall be non-refundable except in the event of failure to close this transaction by reason of a default by Seller or if Purchaser is expressly otherwise entitled applied to the return of Purchase Price at the Exxxxxx Money pursuant to the terms of this AgreementClosing.