Rights and Obligations of Escrow Agent. 8.1 The Escrow agent is not and will not be deemed to be a trustee for any party for any purpose and is merely acting hereunder with the limited duties herein prescribed.
Rights and Obligations of Escrow Agent. (a) The Escrow Agent shall not be liable to any person for any act by it except for gross negligence or willful misconduct by the Escrow Agent. Each of Kellxx xxx the Company, severally, agrees to indemnify and hold harmless the Escrow Agent for all liabilities of the Escrow Agent arising from the doing of any act or the failure to do any act except if such conduct constituted gross negligence or willful misconduct by the Escrow Agent.
Rights and Obligations of Escrow Agent. (a) Simultaneously herewith, Mortgagor has delivered to Escrow Agent, in escrow, six executed originals of the NY Second Mortgage, three of which are suitable for recording in Nassau County and three (3) of which are suitable for recording in Westchester County and four executed originals of the Maryland Second Mortgage.
Rights and Obligations of Escrow Agent. The Escrow Agent may confer with its counsel with respect to any questions relating to its duties or responsibilities hereunder, and it shall not be liable for any act done or omitted by it in good faith on the advice of counsel. The parties hereby agree that the Escrow Agent shall have no responsibility with respect to the application of any funds paid by the Escrow Agent pursuant to the provisions hereof. The Escrow Agent shall have no duties except those which are expressly set forth herein. The Escrow Agent shall not be bound by any notice of, or demand with respect thereto, any waiver, modification, amendment, termination or recission of this Agreement unless in writing and, if the duties of the Escrow Agent herein are affected, unless it shall have given its prior written consent thereto. The Escrow Agent shall not be liable or responsible for anything done or omitted to be done by it in good faith, it being understood that its liability hereunder shall be limited solely to gross negligence or willful misconduct on its part. The parties jointly and severally agree to indemnify and hold the Escrow Agent harmless against all liability which may be imposed upon it or incurred by it in connection with its acceptance of appointment as Escrow Agent hereunder and the performance of its duties hereunder. Xxxxxx has paid the sum of $2,000.00 to the Escrow Agent to cover the first year's escrow maintenance fee. All other fees and expenses of the Escrow Agent for acting hereunder, including the fees, costs and expenses of its counsel, who may be employees of Escrow Agent, shall also be paid by Xxxxxx.
Rights and Obligations of Escrow Agent. (a) The Escrow Agent shall have the duties, and only those duties, set out expressly in this Agreement and there can be no other implied responsibilities or obligations upon the Escrow Agent. The duties and obligations of the Escrow Agent in relation to the Escrow Documents will be terminated and discharged without any Liability when the Escrow Agent releases the Escrow Documents in accordance with Section 3.
Rights and Obligations of Escrow Agent. (a) The duties of the Escrow Agent are only such as are herein specifically provided, and it shall incur no liability whatever except for gross negligence, willful misconduct or failure to have acted in good faith.
Rights and Obligations of Escrow Agent. 8.1 The Escrow Agent shall have no duties or responsibilities whatsoever with respect to the Escrow Amount except as are specifically set forth in the Escrow Agreement. The Escrow Agent shall neither be responsible for or under, any other agreement, instrument or document in connection herewith nor shall any knowledge of any such other agreement, instrument or document be imputed to the Escrow Agent. The Escrow Agent may conclusively rely upon, and shall be fully indemnified by the Parties from and compensated for all liability, loss, cost, damage or expense in acting or omitting to act pursuant to any written notice, instrument, request, consent, document, or other writing hereunder without being required to determine the authenticity of such document, the correctness of any fact stated therein, the propriety of the service thereof or the capacity, identity or authority of any party purporting to sign or deliver such document and/or the authenticity of the signatures of the persons signing such document. The Escrow Agent shall have no responsibility for the contents of any such writing contemplated herein and may rely without any liability upon the contents thereof.
Rights and Obligations of Escrow Agent
