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Escrow

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NEWS
June 18, 1987 | By Ruth Tallmadge, Special to The Inquirer
The buyers of 33 new homes at the Leopard Farm development each will be required to contribute an extra $1,000 to a special escrow fund, one of the owner-developers told the Easttown supervisors at their meeting Monday. Developer O. John Fuchs commented: "We think the process of establishing the fund is unique. " The $33,000 fund will be a permanent escrow that the township could use for repairs if the homeowners' association fails to solve a problem such as landscaping or other improvements.
NEWS
April 23, 1996 | By Pam Louwagie, INQUIRER CORRESPONDENT
Political bickering continued down to the wire last night as township politicos fought over missing signs and sign ordinances on primary election eve. Township officials have removed various political signs during the past few weeks because of an ordinance that some campaigners think is unconstitutional. The ordinance requires candidates or political parties to submit a deposit of $10 for every political sign they want to erect, with a $100 maximum charged. If the signs are removed within five days after the election, the escrow money is returned.
SPORTS
July 22, 2005 | By Tim Panaccio INQUIRER STAFF WRITER
They began meeting at 6 p.m. Wednesday at the Westin Harbor Castle. The session was impassioned at times, with yelling across the ballroom. After it ended at 1:30 a.m. yesterday, some players hung around for another three hours, seeking more answers. In the end, the NHL Players' Association ratified a new six-year collective-bargaining agreement yesterday. "Definitely, there was heated debate," former Flyer Luke Richardson of the Columbus Blue Jackets said. "Guys on both sides shared concerns.
NEWS
July 25, 1987 | By JOHN M. BAER, Daily News Staff Writer (Staff writer Cynthia Burton contributed to this report.)
In a case described as one of the longest and most complex ever conducted by the state Real Estate Commission, the commission has revoked the licenses of Philadelphia real estate agents Morris and Joel Geller, saying they mismanaged about $57,000 worth of clients' funds. The commission's action, effective Aug. 21 and announced this week, means that they cannot buy or sell real estate or act as property managers for clients. The Gellers, who operate Geller and Son, at 3142 Fairfield St., have 30 days to appeal the decision.
NEWS
April 7, 1991 | By Tina Kelley, Special to The Inquirer
The Delsea Woods Apartments in Deptford is embroiled in a complex lawsuit in state Superior Court in Gloucester County involving its current owner and its previous owner, who have sued and countersued each other over an escrow account and the condition of the property. Delsea Associates of Parsippany, which owned the Delsea Woods Apartments until January 1990, filed suit in March 1990 against Delsea Wood 90 Associates of Ocean Township, the apartments' current owner, for breach of contract to recoup $102,865 in an escrow fund.
NEWS
November 2, 1989 | By Peter J. Shelly, Special to The Inquirer
As public improvement work begins on the Buttonwood Farms housing development in Warminster, the financial stakes for the township and residents of the development may be climbing. Last week, after months of pressure from residents, the Warminster Board of Supervisors voted 4-0 to seize the $124,000 escrow. That money was set aside by the Bank & Trust Co. of Old York Road to finance public improvements in the development. After a Thursday night meeting of residents, township officials and Mark Hankin, the bank president, the township backpedaled and decided not to immediately draw on the escrow and take over the work, which is now expected to cost more than the amount available in escrow.
SPORTS
December 14, 2012 | By Sam Carchidi, Inquirer Staff Writer
A representative from the NHL and the players' union met Thursday but failed to make any progress during the 89th day of the lockout. Steve Fehr, special counsel for the NHL Players' Association, and NHL attorney Bob Batterman met with a federal mediator in Iselin, N.J. No talks have been scheduled, and even President Obama expressed frustration. In an interview with WCCO-TV in Minneapolis, Obama said: "My message to owners and to players is, 'You guys make a lot of money and you make a lot of money on the backs of fans, so do right by your fans.
BUSINESS
June 25, 2009 | By Alan J. Heavens INQUIRER REAL ESTATE WRITER
Efforts by T.H. Properties L.P. (THP) to resume home building while it navigates U.S. Bankruptcy Court may depend on Michael C. and Evelyn Foisy. The couple, who put a $21,375 deposit down in December on a house in the Harleysville company's Westport Farm development in Hatfield, are trying to recover their money or buy the property - even though they were rejected for a home loan by a THP subsidiary, Hendricks Mortgage. Until either occurs, the Foisys and their attorney, David L. Marshall of Eastburn & Gray P.C., of Blue Bell, will press their objection to THP's motion to sell six more homes in its developments under cash-collateral stipulations set by two lenders, Susquehanna and Continental Banks.
SPORTS
January 29, 2015 | BY FRANK SERAVALLI, Daily News Staff Writer seravaf@phillynews.com
IT WAS LATE. Petr Straka slept in. With the AHL on its All-Star break, it was one of the rare days of the season Straka didn't have to wake up early to get to the rink. Or, so he thought. When he rubbed his eyes and reached for his phone yesterday morning, Straka had more than a few messages and missed calls - which set off a mad dash from Allentown to the Wells Fargo Center last night for his NHL debut. "I got up quick and picked up the phone and started going," Straka said.
SPORTS
September 24, 2012 | By Sam Carchidi, Inquirer Staff Writer
Instead of NHL training camps opening with the customary optimism Saturday, the league was dark. Instead of the Flyers trying to sort out numerous lineup decisions before the scheduled Oct. 11 opener, their players are scattered around different continents. Instead of a countdown to the upcoming season, the Flyers, like all NHL teams, are in a state of disarray. Welcome to the latest NHL lockout, a development that is slowly pushing the sport out of the fans' consciousness.
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SPORTS
January 29, 2015 | BY FRANK SERAVALLI, Daily News Staff Writer seravaf@phillynews.com
IT WAS LATE. Petr Straka slept in. With the AHL on its All-Star break, it was one of the rare days of the season Straka didn't have to wake up early to get to the rink. Or, so he thought. When he rubbed his eyes and reached for his phone yesterday morning, Straka had more than a few messages and missed calls - which set off a mad dash from Allentown to the Wells Fargo Center last night for his NHL debut. "I got up quick and picked up the phone and started going," Straka said.
SPORTS
December 14, 2012 | By Sam Carchidi, Inquirer Staff Writer
A representative from the NHL and the players' union met Thursday but failed to make any progress during the 89th day of the lockout. Steve Fehr, special counsel for the NHL Players' Association, and NHL attorney Bob Batterman met with a federal mediator in Iselin, N.J. No talks have been scheduled, and even President Obama expressed frustration. In an interview with WCCO-TV in Minneapolis, Obama said: "My message to owners and to players is, 'You guys make a lot of money and you make a lot of money on the backs of fans, so do right by your fans.
SPORTS
September 24, 2012 | By Sam Carchidi, Inquirer Staff Writer
Instead of NHL training camps opening with the customary optimism Saturday, the league was dark. Instead of the Flyers trying to sort out numerous lineup decisions before the scheduled Oct. 11 opener, their players are scattered around different continents. Instead of a countdown to the upcoming season, the Flyers, like all NHL teams, are in a state of disarray. Welcome to the latest NHL lockout, a development that is slowly pushing the sport out of the fans' consciousness.
NEWS
December 29, 2010 | By Marcia Gelbart, Inquirer Staff Writer
Some of nearly $1 million in cash confiscated in almost 4,500 drug busts and other Philadelphia crimes since 2005 will soon reach crime victims as long-due restitution. The money, gathered also during search warrants executed by police officers, has been sitting in escrow in a city Police Department bank account. But the department had no clear indication about to whom it should be directed because of poor record-keeping by the entity responsible for that task, the now-disbanded Clerk of Quarter Sessions Office.
REAL_ESTATE
March 14, 2010 | By Al Heavens, Inquirer Columnist
Here's another report from the world of mortgage escrow, this week provided by Louis Giangiulio. Before I get to his story, let's review the Department of Housing and Urban Development's rules: Section 10 of the federal Real Estate Settlement Procedures Act limits the amount that a lender may require a borrower to hold in an escrow account for paying taxes, hazard insurance, and other charges related to the property in question. Each month, the borrower is required to pay into the escrow account no more than one-twelfth of the total of all disbursements payable during the year, plus an amount necessary to cover shortages.
NEWS
October 8, 2009 | By Jeff Shields INQUIRER STAFF WRITER
State Rep. Michael O'Brien wants casinos to compensate Philadelphia neighborhoods for the toll exacted by a nearby gambling hall. So last week, O'Brien amended the Senate's table games bill to try to make it so. "I'm doing what I've always tried to do - empower the neighborhoods and inoculate them from any harm that would come from casinos," O'Brien said. O'Brien's proposal would add a 1 percent tax to new revenue from games like blackjack and roulette. In Philadelphia, it would raise an estimated $1.2 million.
BUSINESS
August 5, 2009 | By Jane M. Von Bergen INQUIRER STAFF WRITER
A labor union filed criminal complaints against Aramark Corp., the Philadelphia-based global food services company that runs the concessions at Philadelphia's Lincoln Financial Field and Citizens Bank Park. Workers United, in a nationwide protest yesterday, accused Aramark of stealing from its employees by collecting union dues from their paychecks, but not turning them over to their union. However, it is not entirely clear who their union is. Until March, Philadelphia-area Aramark workers, like many Aramark workers around the nation, were represented by Unite-Here, a union created in 2004 by the merger of two other unions.
BUSINESS
June 25, 2009 | By Alan J. Heavens INQUIRER REAL ESTATE WRITER
Efforts by T.H. Properties L.P. (THP) to resume home building while it navigates U.S. Bankruptcy Court may depend on Michael C. and Evelyn Foisy. The couple, who put a $21,375 deposit down in December on a house in the Harleysville company's Westport Farm development in Hatfield, are trying to recover their money or buy the property - even though they were rejected for a home loan by a THP subsidiary, Hendricks Mortgage. Until either occurs, the Foisys and their attorney, David L. Marshall of Eastburn & Gray P.C., of Blue Bell, will press their objection to THP's motion to sell six more homes in its developments under cash-collateral stipulations set by two lenders, Susquehanna and Continental Banks.
NEWS
May 14, 2009 | By Troy Graham INQUIRER STAFF WRITER
The New Jersey Supreme Court yesterday upheld an ordinance in Jackson Township that requires housing developers to replace the trees they remove or pay into a special "tree escrow fund. " More than 200 other municipalities have similar ordinances, according to the New Jersey Sierra Club. Those ordinances now are protected against similar legal challenges, Sierra Club director Jeff Tittel said. He called the ruling "a milestone in the ability of towns to protect the environment and do proper planning.
SPORTS
September 21, 2006 | Daily News Wire Services
The NHL Players Association informed its membership yesterday that the league's 700-plus players will receive all of their escrowed payments plus interest as well as additional "shortfall" payments of between 3.5 to 4.5 percent. Once the final accounting was done on the 2005-06 season, it was determined players didn't take up their full share of the 54 percent of league revenues coming their way under the terms of the new collective bargaining agreement. Players pay into escrow accounts throughout the season as insurance for owners in case salaries eat more than 54 percent of revenues.
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