33-37 essex

Purchaser shall pay a deposit in the amount of $7,000,000 upon full execution of a Purchase and Sale agreement upon the terms as provided herein, within 15 days after acceptance of the offer. Such deposit shall be held in an interest-bearing escrow account at an institutional escrow agent. Purchaser shall pay all fees for the escrow agent. The deposit shall be non-refundable except in the circumstances described herein. Interest shall follow the deposit (but shall not be credited towards the purchase price.)