HomeMy WebLinkAboutEscrow AgreementESCROW AGREEMENT FOR
800 North Arm Drive, Orono, MN 55364
IT IS HEREBY AGREED, by and between North Arm Bay LLC and hereinafter referred to as seller,
Sather Living Trust and , hereinafter referred to as buyers, and TITLE CHOICE, LLC hereinafter referred to as
Escrow Agent, that in order to induce escrow agent to disburse the held amount on the above described property, the
Seller agrees to deposit the following sum to be held by Escrow Agent for completion of the following items
regarding a repair on the above property:
Item to Complete Amount Held in Escrow Completion Date
Sewer Line Repair $7,700.00 TBD
Buyer acknowledge the repair and will work diligently to remedy the issue above. The Buyer will forward
to Escrow Agent any request for payment to cure the repair.
In the event the cost of curing the defect exceeds the amount of funds in escrow, buyer shall pay the excess
cost to escrow agent so that the monies can be disbursed under this agreement.
After the payments authorized by the above agreement have been made, any funds remaining in the escrow
account shall be paid to the Buyer. .
____________________________________________ ____________________________________________
North Arm Bay LLC Seller Seller
__________________________________________ __________________________________________
LeAnn Sather, TTE Sather Living Trust Buyer Michael Sather, TTE Sather Living Trust Buyer
TITLE CHOICE, LLC
BY____________________________________
Escrow agent
LeAnn Sather (Aug 4, 2023 15:38 CDT)Michael Sather (Aug 4, 2023 15:42 CDT)