To Hold a Deed in Escrow for Fulfillment of a Land Contract

ESCROW AGREEMENT To Hold a Deed In Escrow for Fulfillment of a Land Contract (To Survive Grantor’s Disability or Death and Grantee’s Dissolution)

THIS AGREEMENT is made as of this ______day of ______, 20____, by and between [Borrower’s Name(s)] , ______, hereinafter referred to as “Grantor,” whose address is ; [Your Name or Name of Your Company] , hereinafter referred to as “Grantee,” whose address is ______; and [Escrow Agent] ,hereinafter referred to as “Escrow Agent,” whose address is .

WITNESSETH:

WHEREAS, Grantor and Grantee have executed a certain Land Contract (hereinafter referred to as “Contract” and a copy of which is attached hereto and incorporated herein by reference), said Contract dated ______and providing for the purchase of the real estate commonly known as [Mailing Address of the Property] (hereinafter referred to as “Real Estate”).

WHEREAS, pursuant to the terms of the Contract, the Grantor has conditionally executed a Deed to the favor of the Grantee for the Real Estate, said deed hereinafter referred to as the “Deed”) and

WHEREAS, Grantor and Grantee wish to place the Deed in escrow with the Escrow Agent for the purpose of offering security for the prompt delivery of the Deed to the Grantee upon the fulfillment of all of the terms of the Contract by the Grantee;

NOW, THEREFORE, it is agreed by and between the parties as follows:

1. Grantor shall herewith deliver to Escrow Agent the original executed Deed for the Real Estate, a copy of which is attached hereto, for the purpose of offering sufficient security that the Deed will be immediately available for delivery to the Grantee and/or assigns, upon the Grantee fulfilling all of the terms and conditions of the Contract. The escrow of the Deed with the Escrow Agent shall survive the subsequent death or disability of the Grantor. ESCROW AGREEMENT (To Hold a Deed In Escrow) PAGE 2

2. Upon the fulfillment of all of the terms and conditions of the Contract by the Grantee , the Escrow Agent is hereby authorized and directed by the parties to deliver the executed Deed to the Grantee for the prompt recording thereof.

3. This Escrow is for the purpose of holding of one document. Upon fulfillment of the Contract, the escrowed document shall be delivered to the Grantee, and Grantee shall be responsible for finalizing the sale, including but not limited to the actual conveyance with the county auditor and the recording of all documents (including the release of any liens on the property, along with all costs associated therewith.

4. Grantor and Grantee, jointly and severally, both agree to indemnify and hold Escrow Agent harmless from all costs and attorney fees arising out of any dispute relative to this agreement and with the duties and obligations of the Escrow Agent hereunder. Escrow Agent shall be under no responsibility in respect of any of the items deposited with the Escrow Agent other than to faithfully follow the instructions herein contained. Escrow Agent may consult with counsel and shall be fully protected in any action taken in good faith and in accordance with such advice. Escrow Agent shall have no responsibility for the genuineness of validity of any document or other item deposited with the Escrow Agent and Escrow Agent shall be fully protected from same.

GRANTORS:

______[TYPE NAME HERE]

GRANTEE: [TYPE COMPANY NAME HERE]

BY:______[TYPE SIGNOR’S NAME & TITLE HERE] ESCROW AGREEMENT (To Hold a Deed In Escrow) PAGE 3

ESCROW AGENT: [TYPE COMPANY NAME HERE]

BY:______[TYPE SIGNOR’S NAME & TITLE HERE]

This instrument was prepared by: