"Escrow Agreement Template" - Massachusetts

Escrow Agreement Template is a legal document that was released by the Massachusetts Judicial Branch - a government authority operating within Massachusetts.

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ESCROW AGREEMENT
ESCROW AGREEMENT entered into this _____ day of __________________, among
________________________________ (herein "Surety"), Carmen M. Ortiz, in her
official capacity as United States Attorney for the District of Massachusetts (herein
"United States Attorney"), and Robert M. Farrell, in his official capacity as Clerk of the
United States District Court for the District of Massachusetts (herein "Escrow Agent").
WHEREAS the Surety is desirous of effecting the release of _____________________
(herein "Defendant") in Criminal No. ________________, on the terms and conditions of
bail set forth in an Order Setting Conditions of Release (herein "Bail Order") dated
______________, and entered by the Honorable _____________________________,
United States District Judge/Magistrate Judge, and has agreed to execute a personal
bond in the amount of _______________________________________________ ($
) Dollars (herein "Personal Bond") to secure the Defendant's compliance with
the terms and conditions of the Bail Order.
NOW THEREFORE, in consideration of the mutual covenants and agreements
contained herein, the parties hereto agree as follows:
1. The Surety shall execute a quitclaim deed to the parcel of real property located at
_______________________________________________________________ in favor
of the United States of America, and deliver said deed to the Escrow Agent to be held in
escrow pursuant to the terms of this Agreement.
2. The Surety further agrees to execute any additional documents and take any action
necessary to effectuate the transfer of said parcel of real property and facilitate the sale
of such property in the event that the Defendant is in default of the terms and conditions
of the Bail Order or Personal Bond.
3. The Escrow Agent shall hold the quitclaim deed in escrow under the following terms
and conditions:
A. In the event that the Defendant fails to appear as required at all proceedings
in Criminal No. _____________________ or otherwise violates any condition of bail,
and Defendant is declared to be in default by a judicial officer of the United States
District Court for the District of Massachusetts, then, upon order of the Court, and in lieu
of or in addition to foreclosure proceedings on any mortgage granted by the Surety, the
Escrow Agent shall tender the quitclaim deed to the United States Attorney, and he
shall cause the same to be immediately recorded without notice to the Surety. Any
requirement that foreclosure proceedings be commenced upon any mortgage granted
by the Surety in connection with Criminal No. ______________________ is expressly
waived by the Surety.
ESCROW AGREEMENT
ESCROW AGREEMENT entered into this _____ day of __________________, among
________________________________ (herein "Surety"), Carmen M. Ortiz, in her
official capacity as United States Attorney for the District of Massachusetts (herein
"United States Attorney"), and Robert M. Farrell, in his official capacity as Clerk of the
United States District Court for the District of Massachusetts (herein "Escrow Agent").
WHEREAS the Surety is desirous of effecting the release of _____________________
(herein "Defendant") in Criminal No. ________________, on the terms and conditions of
bail set forth in an Order Setting Conditions of Release (herein "Bail Order") dated
______________, and entered by the Honorable _____________________________,
United States District Judge/Magistrate Judge, and has agreed to execute a personal
bond in the amount of _______________________________________________ ($
) Dollars (herein "Personal Bond") to secure the Defendant's compliance with
the terms and conditions of the Bail Order.
NOW THEREFORE, in consideration of the mutual covenants and agreements
contained herein, the parties hereto agree as follows:
1. The Surety shall execute a quitclaim deed to the parcel of real property located at
_______________________________________________________________ in favor
of the United States of America, and deliver said deed to the Escrow Agent to be held in
escrow pursuant to the terms of this Agreement.
2. The Surety further agrees to execute any additional documents and take any action
necessary to effectuate the transfer of said parcel of real property and facilitate the sale
of such property in the event that the Defendant is in default of the terms and conditions
of the Bail Order or Personal Bond.
3. The Escrow Agent shall hold the quitclaim deed in escrow under the following terms
and conditions:
A. In the event that the Defendant fails to appear as required at all proceedings
in Criminal No. _____________________ or otherwise violates any condition of bail,
and Defendant is declared to be in default by a judicial officer of the United States
District Court for the District of Massachusetts, then, upon order of the Court, and in lieu
of or in addition to foreclosure proceedings on any mortgage granted by the Surety, the
Escrow Agent shall tender the quitclaim deed to the United States Attorney, and he
shall cause the same to be immediately recorded without notice to the Surety. Any
requirement that foreclosure proceedings be commenced upon any mortgage granted
by the Surety in connection with Criminal No. ______________________ is expressly
waived by the Surety.
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B. This Agreement shall terminate upon the final disposition of Criminal No.
_________________________ and written discharge of the bond provided to the
Surety by the United States of America. Upon such termination, and upon order of the
Court, the Escrow Agent shall deliver the quitclaim deed to the Surety.
4. The validity and construction of this Agreement shall be governed by the law of the
Commonwealth of Massachusetts.
5. This Escrow Agreement shall be binding upon and shall inure to the benefit of the
parties hereto and their respective successors, assigns and personal representatives.
IN WITNESS WHEREOF, the parties here have caused this Agreement to be executed
as of the date first written above.
SURETY:
ESCROW AGENT:
ROBERT M. FARRELL,
CLERK OF COURT
By:
_________________________
Deputy Clerk
CARMEN M. ORTIZ,
UNITED STATES ATTORNEY
By:
__________________________
Asst. United States Attorney
_______________
COMMONWEALTH OF MASSACHUSETTS
SUFFOLK, SS
On ________________________
Then personally appeared _______________________________________________
and acknowledged the foregoing to be ___________ free act and deed before me.
______________________________
NOTARY PUBLIC
My Commission Expires: _____________________
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