1145 Willow Drive South - Point Of Sale Escrow Agreement

Home Browse Search

Authentisign ID: E3227B7D-FB17-F111-A69A-000D3A4FF82A WORK COMPLETION ESCROW AGREEMENT - NO LENDER INVOLED File Number: MN2602-0427 1145 Willow Dr, Orono, MN Closing Date: March 6, 2026 Purchaser: Jane[ M. Goff Seller: Bette Perl It is mutually agreed Seller has not completed or performed certain requirements or conditions of the sale agreement between the parties as follows: Required Sewer work to be complete and I & I to be provided, see attached Bid approved by the City. Upon receipt of the I & I and confirmation from the City, Buyer and Seller that all are in agreement of funds being release, the escrow will be released. It is further agreed that the Escrow agent may nevertheless complete the closing and settlement of this transaction in accordance with instructions previously given, and in consideration thereof, Seller agrees to complete or perform the above listed requirements or conditions of the sale agreement on or before 05/31/2026 and deposits with Flex Title Company, LLC the sum of $5,456.00 (110% of 4960.00) which shall be held by the Escrow Agent to indemnify the Purchaser and Flex Title Company from any loss or damage whatsoever which they either of them may suffer including any title insurance liabilities, as a result of the failure or delay of the Seller to so complete or perform as agreed. If the amount held in escrow is insufficient, the seller will be responsible for the remaining funds due. At the request of the Seller and upon approval by the Purchaser, Flex Title Company may disburse the funds deposited herewith as follows: Payments to other parties in exchange for receipts, releases or satisfactions of all the requirements or conditions listed above. Payments to Seller in exchange for receipts, releases or satisfactions of all the requirements or conditions listed above. Any inspection fees or recording fees in connection with this escrow are the responsibility of the Seller and the payment of these fees will be taken from the funds deposited herewith. Receipts, releases or satisfactions must be in the form as follows: Final Bill The balance of all remaining funds after completing or preforming the requirements or conditions shall be paid to the Seller. Time is of the essence for this agreement and upon failure of the Seller to complete or perform as agreed, Purchaser may proceed to secure completion or performance of such requirements from the funds deposited herewith. All other applicable escrow instructions remain in effect including the General Conditions or Escrow which 7) A tarprporrated herein by reference. ahel /0- Gaff 03/04/26 Janel M. Goff Bette Perl