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Escrow Instructions for Closing
The attached Agreement [omitted] by and between [name], as
Purchaser, and [name], as Seller, dated [date], is to be construed
as your escrow instructions, and you are authorized to act thereunder
insofar as closing your Escrow is concerned. The following general
provisions are incorporated and made a part of those instructions.
1. Funds Deposited. All funds received in this Escrow shall
be deposited with other escrow funds in a general escrow account or
accounts of [name] Title Company with any state or national bank, and
may be transferred to any other general escrow account or accounts. All
disbursements shall be made by check of [name] Title Company.
2. Institutional Commitment. Any commitment made in writing
to [name] Title Company by a bank, trust company, insurance company,
or building and loan or savings and loan association, to deliver its
check or funds into this Escrow may, in the sole discretion of [name]
Title Company, be treated as the equivalent of a deposit of the amount
3. Adjustments. All adjustments are to be made on a basis of
a thirty-day month.
4. Recordation of Instruments. Recordation of any instruments
delivered through this Escrow, if necessary or proper to issue the
policy of title insurance called for by the Agreement, is authorized.
5. Property Taxes. No examination or insurance as to the
amount or payment of real or personal property taxes is required unless
the real property tax is payable on or before the date of the policy of
6. Lenders. If any party to these instructions obtains a loan
on the land involved during the pendency of this Escrow, you are
authorized to furnish the lender, or any one operating on the lender's
behalf, any information concerning this Escrow, including, but not
limited to, a certified copy of the escrow instructions and any
amendments to them.
7. Insurance Policies. Execute on behalf of the parties form
assignments of interest in any insurance policies (other than title
insurance) called for by the Agreement, and forward them upon close of
Escrow to the agent with the request, first, that insurer consent to the
transfer or attach a loss-payable clause or make any other additions or
corrections that may be specifically required by the Agreement, and
second, that the agent thereafter forward the policies to the parties
entitled to them. In all acts in this Escrow relating to fire
insurance, including adjustments, if any, you shall be fully protected
in assuming that each policy is in force and that the necessary premium
has been paid.
8. Transfer Taxes. Unless you are otherwise specifically
requested by written instructions to do so, no examination or insurance
as to the applicability, or amount or payment of any transfer tax
imposed by any local, city, or county ordinance or otherwise, is
required through this Escrow, as it will be taken care of by the parties
outside of escrow, and you are not to be concerned with the payment of
any such tax.
9. Time of Essence. Time is of the essence in regard to these
instructions. If this Escrow is not in condition to close by [date],
any party who then shall have fully complied with that party's
instructions may, in writing, demand the return of the party's money
and/or property; but if none have complied, no demand for return shall
be recognized until [number] days after the escrow holder shall have
mailed copies of the demand to all other parties at their addresses
shown in the escrow instructions. If no demand is made, close this
Escrow as soon as possible.
10. Amendments. Any amendment of or supplements to any
instructions must be in writing.
11. Tax Statements. Tax statements are to be mailed to
Purchaser at address shown.
*** If Required By State Law ***
This Section for Notary:
STATE OF -------)
) ss: [date]
COUNTY OF ------)
On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
[Name of Notary Public]
My commission expires: [date]