Assurance Abstract Corp

This office did conduct a closing on January 3, 2014, the seller’s [redacted] and [redacted] S [redacted] , at the settlement table signed an “Escrow Agreement” enclosed, in which the sellers agreed and signed that the Company “Assurance Abstract” has the right to release said fund and that the Indemnitor-‘Sellers” acknowledges and agrees that the funds held, if after year the Company may at its discretion payout the fundsWe released said funds months after closingAt no time did the sellers ever provide in writing any agreement from the City of Philadelphia that they would take a lesser amount to clear up the judgment against the sellerWhen the seller called to complain he claimed he brought in something, but never could tell us to whom he gave it to, or the amount it was reduced toAlso attached is the payoff from the City – where we got our figureSo if his allegation of reducing the amount had happened, the City of Philadelphia was clearly unaware of it.When a buyer purchases title insurance, we are providing a clear and marketable title to a property, with this lien still open and not satisfied, a cloud is still on the titleOur fiduciary responsibility is to pay this lien, so that title is clearIn fact after a year, per the signed escrow agreement, we do have the right to take $per six months that the escrow is being held, which we did not take any service feesIn the event you should require any further documentation or information, please feel free to contact our officeI hope by providing this background of information you can take this “blemish” off our recordsVery truly yours, ASSURANCE ABSTRACT CORP

This office did conduct a closing on January 3, 2014, the seller’s [redacted] and [redacted] S. [redacted], at the settlement table signed an “Escrow Agreement” enclosed, in which the sellers agreed and signed that the Company “Assurance Abstract” has the right to release said fund and...

that the Indemnitor-‘Sellers” acknowledges and agrees that the funds held, if after 1 year the Company may at its discretion payout the funds. We released said funds 18 months after closing. At no time did the sellers ever provide in writing any agreement from the City of Philadelphia that they would take a lesser amount to clear up the judgment against the seller. When the seller called to complain he claimed he brought in something, but never could tell us to whom he gave it to, or the amount it was reduced to. Also attached is the payoff from the City – where we got our figure. So if his allegation of reducing the amount had happened, the City of Philadelphia was clearly unaware of it.When a buyer purchases title insurance, we are providing a clear and marketable title to a property, with this lien still open and not satisfied, a cloud is still on the title. Our fiduciary responsibility is to pay this lien, so that title is clear.
In fact after a year, per the signed escrow agreement, we do have the right to take $25.00 per six months that the escrow is being held, which we did not take any service fees.
In the event you should require any further documentation or information, please feel free to contact our office.
I hope by providing this background of information you can take this “blemish” off our records.
Very truly yours,
ASSURANCE ABSTRACT CORP.