Common use of Deposit and Escrow Clause in Contracts

Deposit and Escrow. 1.3.1 Within three (3) Business Days after execution of this Agreement by both Buyer and Seller, Buyer shall deliver to Escrow Agent, whose contact information is ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, Suite 800, Dallas, Texas 75201, (▇▇▇) ▇▇▇-▇▇▇▇, Attn: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, by wire transfer in accordance with the instructions set forth on Schedule 1.3.1 hereto a deposit in the amount of Five Hundred Thousand and 00/100 Dollars ($500,000.00) (the “Deposit”). In addition, as independent consideration for the rights and benefits granted to Buyer, One Hundred and 00/100 Dollars ($100.00) of the Deposit is independent consideration hereunder and is non-refundable, and is immediately released by Escrow Agent to Seller and immediately becomes the property of Seller upon execution and delivery of this Agreement by Buyer (and thus all references to a return of the Deposit to Buyer shall mean the $500,000.00 less the $100 non-refundable portion.) The Deposit shall be held in an insured, interest-bearing escrow account at a bank reasonably acceptable to both Seller and Buyer with interest accruing for the benefit of the party entitled to the Deposit (and at Closing (as defined below) or such other date upon which the Deposit is released pursuant to the terms hereof, the interest will be paid to the party entitled to the Deposit). Escrow Agent may conclusively rely upon and act, subject to the escrow provisions of this Agreement, in accordance with any certificate, instructions, notice, letter, e-mail, facsimile, or other written instrument believed to be genuine and signed or communicated by the proper party or parties entitled to deliver same to Escrow Agent under this Agreement. 1.3.2 The Deposit shall be applied to the Purchase Price if the Closing occurs. Unless Buyer delivers a Termination Notice (as defined below) on or prior to the expiration of the Due Diligence Period (as defined below), the Deposit shall thereafter become non-refundable to Buyer, except where this Agreement expressly provides that the Deposit shall be returned to Buyer upon the termination of this Agreement. If Buyer shall terminate this Agreement on or prior to the expiration of the Due Diligence Period, the Deposit shall be returned to Buyer as provided in Section 3.6.

Deposit and Escrow. 1.3.1 1.4.1 Within three (3) Business Days (as defined below) after execution of this Agreement by both Buyer and Sellerthe Effective Date, Buyer shall deliver to Escrow Agent, whose contact information is ▇Agent at the following address: ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, Suite 800▇▇▇▇▇ ▇▇▇▇, Dallas▇▇▇ ▇▇▇▇▇▇▇, Texas 75201▇▇ ▇▇▇▇▇ Attn: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, Vice President, Special Projects (▇▇▇▇▇▇▇@▇▇▇.▇▇▇) Phone: (▇▇▇) ▇▇▇-▇▇▇▇, Attn: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, by wire transfer in accordance with the instructions set forth on Schedule 1.3.1 hereto a deposit in the form of cash or a wire transfer of immediately available funds in the amount of Five Three Hundred Fifty Seven Thousand Eight Hundred and 00/100 No/100 Dollars ($500,000.00357,800.00) (the "Initial Deposit”), and within one (1) Business Day following the expiration of the Due Diligence Period (defined in Section 3.2), assuming Buyer has not previously terminated this Agreement, Buyer shall deliver to Escrow Agent an additional good faith deposit (the "Additional Deposit”) of One Hundred Seventy Eight Thousand Nine Hundred and No/100 Dollars ($178,900.00). The Initial Deposit and the Additional Deposit shall be collectively referred to herein as the “Deposit”). In addition, as independent consideration for the rights and benefits granted to Buyer, One Hundred and 00/100 Dollars ($100.00) of the Deposit is independent consideration hereunder and is non-refundable, and is immediately released by Escrow Agent to Seller and immediately becomes the property of Seller upon execution and delivery of this Agreement by Buyer (and thus all references to a return of the Deposit to Buyer shall mean the $500,000.00 less the $100 non-refundable portion.) The Deposit shall be held in an insured, interest-bearing escrow account at a bank reasonably acceptable to both Seller and Buyer with interest accruing for the benefit of the party entitled Buyer. All interest earned on the Deposit shall be reported to the Internal Revenue Service as the income of Buyer. Buyer shall promptly execute such documents as the Escrow Agent may reasonably request to report properly such income. If Buyer fails to deposit the Initial Deposit in accordance with this Section, this Agreement shall terminate and neither Seller nor Buyer shall have any further rights, obligations or liabilities to the other party arising out of or resulting from this Agreement except as follows: Buyer shall return to Seller: (and at Closing i) all Property Information (as defined below); and (ii) or all information provided by Seller as part of the Exhibits and Schedules to this Agreement. In the event Buyer fails to deposit the Initial Deposit in accordance with this Section, Seller’s remedies shall be limited to receipt of such other date upon which the Deposit is released pursuant to the terms hereofmaterials, the interest will and in no event shall Seller be paid to the party entitled to the Initial Deposit). Escrow Agent may conclusively rely upon Failure to timely deliver the Additional Deposit (after notice and act, subject to the escrow provisions expiration of this Agreement, in accordance with any certificate, instructions, notice, letter, e-mail, facsimile, or other written instrument believed to be genuine and signed or communicated applicable cure period) shall constitute a default by the proper party or parties entitled to deliver same to Escrow Agent under this AgreementBuyer. 1.3.2 1.4.2 The Deposit (and any interest accrued thereon) shall be applied to the Purchase Price if the Closing occurs. Unless Buyer delivers a Termination Notice (as defined below) on or prior to the expiration occurs. Upon delivery of the Due Diligence Period Buyer’s Approval Notice (as defined below), the Deposit shall thereafter become non-refundable to Buyer, except where this Agreement expressly provides that the Deposit shall not be returned to Buyer upon the termination of unless escrow fails to close due to (i) Seller’s breach or default under this Agreement. If Buyer shall terminate this Agreement on , (ii) a failure of a representation or prior warranty by Seller to the expiration be true and correct as of the Due Diligence PeriodClosing, (iii) a failure of a condition precedent to Buyer’s obligation to close, and (iv) any other reason that entitles Buyer to have the Deposit shall be returned to Buyer as provided for herein, including, without limitation, any reason provided in Section Sections 3.6., 6.2, 7.1

Deposit and Escrow. 1.3.1 1.4.1 Within three (3) Business Days (as defined below) after execution of this Agreement by both Buyer and Sellerthe Effective Date, Buyer shall deliver to Escrow Agent, whose contact information is ▇Agent at the following address: ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, Suite 800▇▇▇▇▇ ▇▇▇▇, Dallas▇▇▇ ▇▇▇▇▇▇▇, Texas 75201▇▇ ▇▇▇▇▇ Attn: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, Vice President, Special Projects (▇▇▇▇▇▇▇@▇▇▇.▇▇▇) Phone: (▇▇▇) ▇▇▇-▇▇▇▇, Attn: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, by wire transfer in accordance with the instructions set forth on Schedule 1.3.1 hereto a deposit in the form of cash or a wire transfer of immediately available funds in the amount of Nineteen Thousand Five Hundred Thousand and 00/100 No/100 Dollars ($500,000.0019,500.00) (the “Initial Deposit”). In addition, as independent consideration for and within one (1) Business Day following the rights expiration of the Due Diligence Period (defined in Section 3.2), assuming Buyer has not previously terminated this Agreement, Buyer shall deliver to Escrow Agent an additional good faith deposit (the “Additional Deposit”) of Nine Thousand Seven Hundred Fifty and benefits granted to Buyer, One Hundred and 00/100 No/100 Dollars ($100.00) of 9,750.00). The Initial Deposit and the Additional Deposit is independent consideration hereunder and is non-refundable, and is immediately released by Escrow Agent shall be collectively referred to Seller and immediately becomes herein as the property of Seller upon execution and delivery of this Agreement by Buyer (and thus all references to a return of the Deposit to Buyer shall mean the $500,000.00 less the $100 non-refundable portion.) “Deposit”. The Deposit shall be held in an insured, interest-bearing escrow account at a bank reasonably acceptable to both Seller and Buyer with interest accruing for the benefit of the party entitled Buyer. All interest earned on the Deposit shall be reported to the Internal Revenue Service as the income of Buyer. Buyer shall promptly execute such documents as the Escrow Agent may reasonably request to report properly such income. If Buyer fails to deposit the Initial Deposit in accordance with this Section, this Agreement shall terminate and neither Seller nor Buyer shall have any further rights, obligations or liabilities to the other party arising out of or resulting from this Agreement except as follows: Buyer shall return to Seller: (and at Closing i) all Property Information (as defined below); and (ii) or all information provided by Seller as part of the Exhibits and Schedules to this Agreement. In the event Buyer fails to deposit the Initial Deposit in accordance with this Section, Seller’s remedies shall be limited to receipt of such other date upon which the Deposit is released pursuant to the terms hereofmaterials, the interest will and in no event shall Seller be paid to the party entitled to the Initial Deposit). Escrow Agent may conclusively rely upon Failure to timely deliver the Additional Deposit (after notice and act, subject to the escrow provisions expiration of this Agreement, in accordance with any certificate, instructions, notice, letter, e-mail, facsimile, or other written instrument believed to be genuine and signed or communicated applicable cure period) shall constitute a default by the proper party or parties entitled to deliver same to Escrow Agent under this AgreementBuyer. 1.3.2 1.4.2 The Deposit (and any interest accrued thereon) shall be applied to the Purchase Price if the Closing occurs. Unless Buyer delivers a Termination Notice (as defined below) on or prior to the expiration occurs. Upon delivery of the Due Diligence Period Buyer’s Approval Notice (as defined below), the Deposit shall thereafter become non-refundable to Buyer, except where this Agreement expressly provides that the Deposit shall not be returned to Buyer upon the termination of unless escrow fails to close due to (i) Seller’s breach or default under this Agreement. If Buyer shall terminate this Agreement on , (ii) a failure of a representation or prior warranty by Seller to the expiration be true and correct as of the Due Diligence PeriodClosing, (iii) a failure of a condition precedent to Buyer’s obligation to close, and (iv) any other reason that entitles Buyer to have the Deposit shall be returned to Buyer as provided for herein, including, without limitation, any reason provided in Section Sections 3.6., 6.2, 7.1

Deposit and Escrow. 1.3.1 1.4.1 Within three (3) Business Days (as defined below) after execution of this Agreement by both Buyer and Sellerthe Effective Date, Buyer shall deliver to Escrow Agent, whose contact information is ▇Agent at the following address: ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, Suite 800▇▇▇▇▇ ▇▇▇▇, Dallas▇▇▇ ▇▇▇▇▇▇▇, Texas 75201▇▇ ▇▇▇▇▇ Attn: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, Vice President, Special Projects (▇▇▇▇▇▇▇@▇▇▇.▇▇▇) Phone: (▇▇▇) ▇▇▇-▇▇▇▇, Attn: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, by wire transfer in accordance with the instructions set forth on Schedule 1.3.1 hereto a deposit in the form of cash or a wire transfer of immediately available funds in the amount of Five One Hundred Eleven Thousand One Hundred and 00/100 No/100 Dollars ($500,000.00111,100.00) (the "Initial Deposit”), and within one (1) Business Day following the expiration of the Due Diligence Period (defined in Section 3.2), assuming Buyer has not previously terminated this Agreement, Buyer shall deliver to Escrow Agent an additional good faith deposit (the "Additional Deposit”) of Fifty Five Thousand Five Hundred Fifty and No/100 Dollars ($55,550.00). The Initial Deposit and the Additional Deposit shall be collectively referred to herein as the “Deposit”). In addition, as independent consideration for the rights and benefits granted to Buyer, One Hundred and 00/100 Dollars ($100.00) of the Deposit is independent consideration hereunder and is non-refundable, and is immediately released by Escrow Agent to Seller and immediately becomes the property of Seller upon execution and delivery of this Agreement by Buyer (and thus all references to a return of the Deposit to Buyer shall mean the $500,000.00 less the $100 non-refundable portion.) The Deposit shall be held in an insured, interest-bearing escrow account at a bank reasonably acceptable to both Seller and Buyer with interest accruing for the benefit of the party entitled Buyer. All interest earned on the Deposit shall be reported to the Internal Revenue Service as the income of Buyer. Buyer shall promptly execute such documents as the Escrow Agent may reasonably request to report properly such income. If Buyer fails to deposit the Initial Deposit in accordance with this Section, this Agreement shall terminate and neither Seller nor Buyer shall have any further rights, obligations or liabilities to the other party arising out of or resulting from this Agreement except as follows: Buyer shall return to Seller: (and at Closing i) all Property Information (as defined below); and (ii) or all information provided by Seller as part of the Exhibits and Schedules to this Agreement. In the event Buyer fails to deposit the Initial Deposit in accordance with this Section, Seller’s remedies shall be limited to receipt of such other date upon which the Deposit is released pursuant to the terms hereofmaterials, the interest will and in no event shall Seller be paid to the party entitled to the Initial Deposit). Escrow Agent may conclusively rely upon Failure to timely deliver the Additional Deposit (after notice and act, subject to the escrow provisions expiration of this Agreement, in accordance with any certificate, instructions, notice, letter, e-mail, facsimile, or other written instrument believed to be genuine and signed or communicated applicable cure period) shall constitute a default by the proper party or parties entitled to deliver same to Escrow Agent under this AgreementBuyer. 1.3.2 1.4.2 The Deposit (and any interest accrued thereon) shall be applied to the Purchase Price if the Closing occurs. Unless Buyer delivers a Termination Notice (as defined below) on or prior to the expiration occurs. Upon delivery of the Due Diligence Period Buyer’s Approval Notice (as defined below), the Deposit shall thereafter become non-refundable to Buyer, except where this Agreement expressly provides that the Deposit shall not be returned to Buyer upon the termination of unless escrow fails to close due to (i) Seller’s breach or default under this Agreement. If Buyer shall terminate this Agreement on , (ii) a failure of a representation or prior warranty by Seller to the expiration be true and correct as of the Due Diligence PeriodClosing, (iii) a failure of a condition precedent to Buyer’s obligation to close, and (iv) any other reason that entitles Buyer to have the Deposit shall be returned to Buyer as provided for herein, including, without limitation, any reason provided in Section Sections 3.6., 6.2, 7.1

Deposit and Escrow. 1.3.1 1.4.1 Within three (3) Business Days (as defined below) after execution of this Agreement by both Buyer and Sellerthe Effective Date, Buyer shall deliver to Escrow Agent, whose contact information is ▇Agent at the following address: ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, Suite 800▇▇▇▇▇ ▇▇▇▇, Dallas▇▇▇ ▇▇▇▇▇▇▇, Texas 75201▇▇ ▇▇▇▇▇ Attn: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, Vice President, Special Projects (▇▇▇▇▇▇▇@▇▇▇.▇▇▇) Phone: (▇▇▇) ▇▇▇-▇▇▇▇, Attn: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, by wire transfer in accordance with the instructions set forth on Schedule 1.3.1 hereto a deposit in the form of cash or a wire transfer of immediately available funds in the amount of Five Fifty Nine Thousand Eight Hundred Thousand and 00/100 No/100 Dollars ($500,000.0059,800.00) (the “Initial Deposit”). In addition, as independent consideration for and within one (1) Business Day following the rights and benefits granted expiration of the Due Diligence Period (defined in Section 3.2), assuming Buyer has not previously terminated this Agreement, Buyer shall deliver to Buyer, One Escrow Agent an additional good faith deposit (the “Additional Deposit”) of Twenty Nine Thousand Nine Hundred and 00/100 No/100 Dollars ($100.00) of 29,900.00). The Initial Deposit and the Additional Deposit is independent consideration hereunder and is non-refundable, and is immediately released by Escrow Agent shall be collectively referred to Seller and immediately becomes herein as the property of Seller upon execution and delivery of this Agreement by Buyer (and thus all references to a return of the Deposit to Buyer shall mean the $500,000.00 less the $100 non-refundable portion.) “Deposit”. The Deposit shall be held in an insured, interest-bearing escrow account at a bank reasonably acceptable to both Seller and Buyer with interest accruing for the benefit of the party entitled Buyer. All interest earned on the Deposit shall be reported to the Internal Revenue Service as the income of Buyer. Buyer shall promptly execute such documents as the Escrow Agent may reasonably request to report properly such income. If Buyer fails to deposit the Initial Deposit in accordance with this Section, this Agreement shall terminate and neither Seller nor Buyer shall have any further rights, obligations or liabilities to the other party arising out of or resulting from this Agreement except as follows: Buyer shall return to Seller: (and at Closing i) all Property Information (as defined below); and (ii) or all information provided by Seller as part of the Exhibits and Schedules to this Agreement. In the event Buyer fails to deposit the Initial Deposit in accordance with this Section, Seller’s remedies shall be limited to receipt of such other date upon which the Deposit is released pursuant to the terms hereofmaterials, the interest will and in no event shall Seller be paid to the party entitled to the Initial Deposit). Escrow Agent may conclusively rely upon Failure to timely deliver the Additional Deposit (after notice and act, subject to the escrow provisions expiration of this Agreement, in accordance with any certificate, instructions, notice, letter, e-mail, facsimile, or other written instrument believed to be genuine and signed or communicated applicable cure period) shall constitute a default by the proper party or parties entitled to deliver same to Escrow Agent under this AgreementBuyer. 1.3.2 1.4.2 The Deposit (and any interest accrued thereon) shall be applied to the Purchase Price if the Closing occurs. Unless Buyer delivers a Termination Notice (as defined below) on or prior to the expiration occurs. Upon delivery of the Due Diligence Period Buyer’s Approval Notice (as defined below), the Deposit shall thereafter become non-refundable to Buyer, except where this Agreement expressly provides that the Deposit shall not be returned to Buyer upon the termination of unless escrow fails to close due to (i) Seller’s breach or default under this Agreement. If Buyer shall terminate this Agreement on , (ii) a failure of a representation or prior warranty by Seller to the expiration be true and correct as of the Due Diligence PeriodClosing, (iii) a failure of a condition precedent to Buyer’s obligation to close, and (iv) any other reason that entitles Buyer to have the Deposit shall be returned to Buyer as provided for herein, including, without limitation, any reason provided in Section Sections 3.6., 6.2, 7.1