03-09-2010 Council Work Session Packet

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Seller and Buyer have executed this Agreement as of the date tirst written above. ESCROW RECEII'T SGLLER: �l'he undersigned, Commonwealdi La�id T'itle ]nsurance Company ("Title"), acknowledges receipt of Dollars($ )(the"DeposiY')to be held by it pursuant to the Purchase CII�Y Of�ORONO Agreement to which this Escrow Receipt is attached. Tide agrees to hold the Deposit in accordance with the terms of the Purchase Agreement and disburse the same strictly in accordance with such terms. Title shall invest the Deposit in such interest-bearing accounts or Date of Siguature gy_ instruments as shall be approved by both Buyer azid Seller. Interest shall accrue for the benefit Its of the party entitled to receive the Garuest Money. .2010 Seller's Tax I.D.Number Seller and Buyer represent that their respective "I'ax I.D. Numbers are as Collows: Seller, ;I3uyer,37-1506238. Title shall have no responsibility for any decision concerning performance or effectiveness of the BUYER: Purchase Agreement or to resolve any disputes co�cerning the Purchase AgreemenL Title sl�all be responsible only to act in accordance with the joint and mutual direction of both Seller and COMMONBOND ACQUISI'I�ION LLC Buyer, or in lieu thereof, the direction of a court of competent jurisdiction. Seller aud Buyer undertake to hold Title harmless from all cfaims lor damages arising out of this Escrow Receipt llate of Signature gy; and do hereby agree to indemnify 7'itle for an costs a�d expenses in connection with this escrow, including court costs and attomeys' Cees,except for Title's failure to accoui�t for the funds held �� Its Vice Preside��t. _ hereunder,or acting in conflict with the terms hereof. I3uyer's'I'ax I.D.Number 37-1506238 The fees and charges of the'I'itle shall be paid by Buyer. ESCROW AGL'N'C: COMMONWF,AL'I'H I,AND T['I'L}:INSURANCG COMPANY By: I�S: SL'LLtiR: CITY OP ORONO 13y: Its: 10