Chicago Title NCS Chicago: SYFCREC 2021
RECONVEYANCE/INABILITY TO EXECUTE PROVISIONS In the event all deposits are received and Chicago Title Insurance Company ("CTI") is not prepared to issue its Owner's and /or Mortgage Title Insurance Policy(ies) as provided herein or you are not prepared to execute the disbursement and other instructions contained herein on ,you are directed to continue to comply with the escrow trust instructions until you are in receipt of a written demand from any party ("demand party") for the return of escrow trust deposits made by said demand party. Upon receipt of such demand you are to return to the demand party all deposits made by said demand party without notice to any other party. All other deposits are to be retained and delivered only upon the sole order of the respective depositors. STANDARD PROVISIONS INVESTMENT Deposits made pursuant to these instructions may be invested on behalf of any party or parties hereto: provided, that any direction to escrow trustee for such investment shall be expressed in WRITING and contain the consent of all other parties to this escrow, and also provided that escrow trustee is in receipt of the taxpayer's identification number and investment forms as required. Escrow trustee will, upon request, furnish information concerning its procedures and fee schedules for investment. In the event the escrow trustee is requested to invest deposits hereunder, Chicago Title and Trust Company shall not to be held responsible for any loss of principal or interest which may be incurred as a result of making the investment or redeeming said investment for the purposes of these escrow trust instructions. DIRECTION NOT TO INVEST/RIGHT TO COMMINGLE Except as to deposits of funds for which escrow trustee has received express written direction concerning investment or other handling, the parties hereto direct the escrow trustee NOT to invest any funds deposited by the parties under the terms of this escrow and waive any rights which they may have under Section 2-8 of the Corporate Fiduciary Act (205 ILCS 620/2-8) to receive interest on funds deposited hereunder. In the absence of an authorized direction to invest funds, the parties hereto agree that escrow trustee shall be under no duty to invest or reinvest any such funds at any time held by it hereunder; and further, that escrow trustee may commingle such deposits with other deposits or with its own funds in the manner provided for the administration of funds under Section 2-8 of the Corporate Fiduciary Act (205 ILCS 620/2-8) and may use any part or all such funds for its own benefit without obligation to any party for interest or earnings derived thereby, if any. Provided, however, nothing herein shall diminish escrow trustee's obligation to apply the full amount of the deposits in accordance with the terms of these escrow trust instructions. BUSINESS DAY Whenever under the terms and provisions of these escrow trust instructions the time for performance of a condition falls upon a Saturday, Sunday, or holiday, such time for performance shall be extended to the next business day. 173
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