2005-103 Resolution - Laserfiche WebLink

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only until February 15, 2006, unless subsequently extended by mutual agreement of Seller and Buyer. As assurance that Josephine V. Trentanelli will timely delivery possession of the Property to Buyer, the Escrow Agent is instructed to retain in escrow the sum of Twenty -Five Thousand Dollars ($25,000.00) of her net proceeds to be released to her only when she has vacated the Property, as evidence by the Escrow Agent's receipt of a written statement to that effect from Buyer. Time for Closing 2.06. This transaction shall close on or before October 28, 2005. Failure of Conditions 2.07 Should any of the conditions specified in Article 2 fail to occur, Buyer shall have the power, exercisable by the giving by it of written notice to the escrow agent and to Seller, to cancel such escrow, terminate this Agreement, and recover any amounts paid by it to Seller or to the escrow agent on account of the purchase price of said property. The exercise of such power by Buyer shall not, however, constitute a waiver by it of any other rights it may have against Seller for breach of this Agreement. The escrow agent shall be, and is hereby, irrevocably instructed by Seller on such failure of conditions and receipt of such notice from Buyer to refund immediately to Buyer all moneys and instruments deposited by it in escrow pursuant to this Agreement. Proration and Utility Dg posits 2.08 Real property taxes and assessments shall be prorated as of the date of Closing. To inure payment by Josephine V. Trentanelli of all charges for utilities servicing the Property from the date of Closing to the date she vacates the Property, the Escrow Agent shall retain in escrow an amount from her proceeds equal to one -half of the approximate annual charges for said utilities 3