Proposal Security. Purchaser has provided $10,000.00 to Seller as a Proposal Security at the time of making the proposal, in accordance with the requirements of the RFP, to secure Purchaser’s obligation to provide financial and other information, to sign this Agreement and to provide the Deposit described in Section 2.03. It is agreed that the Proposal Security, if not forfeited by the Purchaser, will constitute additional ▇▇▇▇▇▇▇ money for the sale of the Property to Purchaser, and will be applied to the Purchase Price at Closing. The Proposal Security will be held by the Title Company on behalf of Seller and will not be deposited into an interest‐bearing account.
Appears in 3 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement