A signed Earnest Money Escrow Agreement referencing the URL www.memberstitlegroup.com/escrow includes the below text as part of the terms of the signed Agreement.

Pursuant to an accepted offer to purchase the referenced property, the Seller (whether one or more), and Buyer (whether one or more), irrevocably authorize(s), Members Title Group LLC, (“Escrow Agent”), to hold earnest money for the referenced real estate transaction. The Escrow Agent shall hold the earnest money in a non interest-bearing escrow account and shall release the earnest money at the first of the following events:

1. At the closing of the transaction as described in the accepted offer to purchase.

2. Upon the Escrow Agent’s receipt of joint written instructions from Seller and Buyer directing the Escrow Agent to disburse the earnest money.

3. A dispute arises between Seller and Buyer regarding the earnest money, and the Escrow Agent, in its sole and absolute discretion, delivers the earnest money to a court of competent jurisdiction.

4. The Escrow Agent receives an order entered by a court of competent jurisdiction ordering the Escrow to deliver the earnest money. 

5. Escrow Agent determines, in its sole and absolute discretion, that the earnest money payment was procured by fraud, criminal activity, or fraudulent inducement, Escrow Agent returns the earnest money to the payor of the earnest money.

6. At any point, if either Seller or Buyer fails to respond to communications from Members Title Group within 30 days via the contact information provided on the Earnest Money Escrow Agreement, Members Title Group may return the earnest money to the other party.

The Escrow Agent’s disbursement of earnest money does not determine the legal rights of the Parties in relation to this transaction. Buyer's or Seller's legal right to earnest money cannot be determined by the Escrow Agent holding the earnest money. At least 30 days prior to disbursement, where the Escrow Agent has knowledge that either Party disagrees with the disbursement, the Escrow Agent shall send Buyer and Seller written notice of the intent to disburse by certified mail. If Buyer or Seller disagrees with the Escrow Agents’s proposed disbursement, a lawsuit may be filed to obtain a court order regarding disbursement. Small Claims Court has jurisdiction over all earnest money disputes arising out of the sale of residential property with one-to-four dwelling units. Buyer and Seller should consider consulting attorneys regarding their legal rights under the offer in case of a dispute. Both Parties agree to hold the Escrow Agent harmless from any liability for good faith disbursement of earnest money in accordance with the offer.

Escrow Agent shall not be liable for, and Buyer and Seller agree to indemnify Escrow Agent against any liability for: (i) any act or omission done in good faith under this earnest money Escrow Agreement (“Agreement”), (ii) any loss arising out of loss or impairment of the earnest money in the course of collection and deposit nor loss of any of the earnest money due to bank failure, insolvency, suspension, or misconduct. Escrow Agent may receive ancillary benefits from the use of the earnest money while held in escrow. Buyer and Seller agree to jointly and severally hold the Escrow Agent harmless for all reasonable actions taken by the Escrow Agent in accordance with this Agreement. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement.