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EARNEST MONEY ESCROW AGREEMENT
1. This Agreement is made and entered into the date set forth below, between, Empire Title of
Colorado Springs, LLC as Escrow Agent, herein called the “Company”, and
______________________as Seller and ____________________________as Purchasers, the
undersigned depositors.
2. Whereas, Depositor(s) wish to place this earnest money deposit in the amount of $____________
in the form of a (check/wire/promissory note-pick one) In the possession of a Third Party, said
Escrow Agent; pursuant to that certain contract dated _______________________ for the property
known as _______________________________________________________________and
3. Whereas, the Company is willing to hold said funds, as Escrow Agent, for the benefit of the
depositor(s).
4. Now therefore, in consideration of the fee paid to the Company, in the amount of $--0--, subject to
the Exhibit A, as Printed on the second page of this document and specifically incorporated herein
by reference, the Company agrees to hold such earnest money deposit, until CLOSE OF
ESCROW, or apply said deposit as instructed in writing, at the contract closing. During the period
the Company is in possession of the earnest money deposit, any funds in the form of cash or check
will be deposited in a federally insured bank in increments of $100,000.00 per insured account.
5. In the event the Seller allegedly violates or defaults under the terms of the contract, Purchaser
shall notify the Company and Seller of such default in writing. If after 15 days from the date of
notice of default was given to the Seller, as certified to the Company by Purchaser in its written
affidavit, the Company has been informed by Purchaser that Seller has not cured such default
satisfactorily to Purchaser, the Company shall refund the earnest money deposit, less escrow fee,
plus any earnings thereon, if applicable, to Purchaser subject to Paragraph 9 of Exhibit “A”.
6. In the event the Purchaser allegedly violates or defaults the terms of the contract, Seller shall
notify the Company and Purchaser of such default in writing. If after 15 days from the date notice
of default was given to Purchaser, as certified to the Company by Seller In its written affidavit, the
Company has been informed by Seller that Purchaser has not cured such default satisfactorily to
the Seller, the Company shall pay over the earnest money, less escrow fee, plus any earnings
thereon, if applicable, to Seller subject to Paragraph 9 of Exhibit “A”.
7. In the event of default by either Seller or Purchaser pursuant to paragraphs (5) and (6) above, any
deposit in the form of a promissory note shall not be delivered to the designated party until the
escrow fee has been paid to the Company.
8. A fully executed copy of the purchase contract to which the earnest money deposit applies must be
attached hereto for reference. The Company shall not undertake to construe the contractor to
determine compliance therewith. Written notice of an election to invoke any specific contract
provision shall be given to the Company by the party invoking such specific contract provision.
9. NOTE: If Purchaser and Seller are in disagreement as to the disposition of the earnest money
deposit, Paragraph 9 of Exhibit “A” shall apply.
10. If the Contract provides for the delivery of the earnest money deposit or other sums to Purchaser,
then upon only Purchaser’s written request Escrow Agent shall disburse the earnest money
deposit or other sums together with all interest accrued thereon to Purchaser. Except for the
foregoing sentence, Escrow Agent may at any time, request the parties to provide joint written
instructions concerning the propriety of a proposed payment of funds on deposit, distribution of
documents, or other action or refusal to act by Escrow Agent. Should the Parties fail to provide
such joint written instructions within six (6) months from the expiration of the term of the
Agreement, Escrow Agent shall not disburse, but shall make a written request to the Parties for
further joint written instructions. Escrow Agent shall not take any further action, and shall not be
liable to anyone for such inaction.
11. This Earnest Money Escrow Agreement may be executed in counterparts with the same force and
effect as if all signatures appeared on one Earnest Money Escrow Agreement.
IN WITNESS WHEREOF, The undersigned have READ AND EXECUTED this Agreement this
_____day of __________________20___.
DEPOSITOR
DEPOSITOR
TAX ID________________________________ TAX ID____________________________________
By_____________________________________ By________________________________________
(ESCROW AGENT) by