Buyer agrees to pay Lanham and Associates, Inc. a nonrefundable retainer fee of $1000 as part of the Initial Deposit,to be made upon acceptance (effective date of the contract). This fee is to be held in an escrow account at Roberto and Associates, Inc. Should Buyer cancel the contract, this portion of the initial deposit (retainer fee) is deducted from the Deposit and payable to Lanham and Associates, Inc. At Closing, this retainer fee is applied toward the purchase price and is NOT payable to Lanham and Assoc
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