DEPOSIT MONIES. The $225,000.00 deposit referenced in Paragraph 2 above was previously paid by VCS Holdings LLC, an affiliated company of Buyer, to Seller under an earlier contract which the parties acknowledge is hereby terminated, the within Contract being in substitution therefor. Said deposit has been retained by Seller and is non-refundable. The two $25,000.00 deposits referenced in Paragraph 2 is to be held in the trust account of C▇▇▇▇▇ A▇▇▇▇▇▇ & J▇▇▇▇ (the “Escrow Agent”) until closing of title or earlier Contract termination; provided, however, in the event the Buyer requests a three month extension pursuant to paragraph 3 above, then in that event an additional $25,000.00 deposit, which shall be released to Seller and be non-refundable, but applied to the purchase price, shall be due upon exercise of the three month extension.
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DEPOSIT MONIES. The $225,000.00 deposit referenced in Paragraph 2 above was previously paid by VCS Holdings LLC, an affiliated company of Buyer, to Seller under an earlier contract which the parties acknowledge is hereby terminated, the within Contract being in substitution therefor. Said deposit has been retained by Seller and is non-refundable. The two $25,000.00 deposits referenced in Paragraph 2 is to be held in the trust account of C▇▇▇▇▇ A▇▇▇▇▇▇ & J▇▇▇▇ (the “"Escrow Agent”") until closing of title or earlier Contract termination; provided, however, in the event the Buyer requests a three month extension pursuant to paragraph 3 above, then in that event an additional $25,000.00 deposit, which shall be released to Seller and be non-refundable, but applied to the purchase price, shall be due upon exercise of the three month extension.
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