On Tue, 15 Oct 2002 23:43:53 GMT, [email protected] (Keith Henson) wrote:
>13. If, prior to the actual distribution of the escrowed funds,
>Mr. Hibbard receives written notice that any other person or entity
>not a party hereto, has a claim against either Henson or Lucas, Mr.
>Hibbard shall be required to retain the amount of the claim in escrow
>until said other claim or claims are "finally" resolved. From the
>date Mr. Hibbard receives said notice until said claim is "finally"
>resolved, said new creditor shall be deemed a party to this Agreement
>solely for purposes of notice and consent, and shall have the rights
>of a third-party beneficiary of this Agreement;
Just to give you a feel for what this means, this paragraph lumps Arel's equity in with mine for claims such as the recent $100k summary judgment scn got in a Hemet court.
Which could either be collected from Arel or she could never get the money out of escrow. In any case, they rip her off without it having to go to any kind of judgment.