Document ID: 13660

Text:
2.2 Deposit. Purchaser and Seller agree that within three (3)business days from the Effective Date, Purchaser will as evidence of its good faith and intentions, deposit the sum of One Hundred Eighty-Seven Thousand Five Hundred and No/100 Dollars ($187,500.00) (together with any interest earned thereon, the Initial Deposit) with HBI Title Services, Inc., 7575 Huntington Park Drive, Columbus, OH 43235 (Escrow Agent). The Initial Deposit will be dealt with in accordance with the express terms of this Agreement. HBI Title, Inc. shall serve as the title company (the Title Company) in connection with this Agreement. In the event Purchaser does not terminate this Agreement prior to the expiration of the Due Diligence Period, Purchaser shall be required to remit an additional deposit to Escrow Agent for deposit into the escrow account in the amount of One Hundred Twelve Thousand Five Hundred and No/100 Dollars ($112,500.00) (together with any interest earned thereon, the Additional Deposit) on or before the expiration of the Due Diligence Period. The term Deposit means the Initial Deposit until the Additional Deposit is made, and after Additional Deposit is made, it means the Initial Deposit and Additional Deposit. The Deposit shall be dealt with in accordance with the express terms of this Agreement. The Deposit shall, at Closing, be paid to Seller and applied in reduction of the Purchase Price.

Named Entities:
49
54
Principal
76
83
Address
182
187
Principal

Tokenized Text:
2
.
2
Deposit
.
Purchaser
and
Seller
agree
that
within
three
(
3
)
business
days
from
the
Effective
Date
,
Purchaser
will
as
evidence
of
its
good
faith
and
intentions
,
deposit
the
sum
of
One
Hundred
Eighty-Seven
Thousand
Five
Hundred
and
No
/
100
Dollars
(
$
187
,
500
.
00
)
(
together
with
any
interest
earned
thereon
,
the
Initial
Deposit
)
with
HBI
Title
Services
,
Inc
.
,
7575
Huntington
Park
Drive
,
Columbus
,
OH
43235
(
Escrow
Agent
)
.
The
Initial
Deposit
will
be
dealt
with
in
accordance
with
the
express
terms
of
this
Agreement
.
HBI
Title
,
Inc
.
shall
serve
as
the
title
company
(
the
Title
Company
)
in
connection
with
this
Agreement
.
In
the
event
Purchaser
does
not
terminate
this
Agreement
prior
to
the
expiration
of
the
Due
Diligence
Period
,
Purchaser
shall
be
required
to
remit
an
additional
deposit
to
Escrow
Agent
for
deposit
into
the
escrow
account
in
the
amount
of
One
Hundred
Twelve
Thousand
Five
Hundred
and
No
/
100
Dollars
(
$
112
,
500
.
00
)
(
together
with
any
interest
earned
thereon
,
the
Additional
Deposit
)
on
or
before
the
expiration
of
the
Due
Diligence
Period
.
The
term
Deposit
means
the
Initial
Deposit
until
the
Additional
Deposit
is
made
,
and
after
Additional
Deposit
is
made
,
it
means
the
Initial
Deposit
and
Additional
Deposit
.
The
Deposit
shall
be
dealt
with
in
accordance
with
the
express
terms
of
this
Agreement
.
The
Deposit
shall
,
at
Closing
,
be
paid
to
Seller
and
applied
in
reduction
of
the
Purchase
Price
.