An escrow agent should provide the parties with a receipt for the escrow property, a copy of the escrow agreement and keep complete and accurate records. An escrow agreement is a legal document outlining the terms and conditions between parties involved in an escrow arrangement.Mutual's charges for acting as escrow agent hereunder shall be One. Instructions: ▫ Complete fields marked in bracketed and bolded text as instructed. ▫ According to the preferences of the banking institution issuing the escrow. THIS ESCROW AND CONTROL AGREEMENT (this "Escrow Agreement" or. "Agreement"), is entered into as of the _____ day of ______, 2017 ("Effective Date"), by. "Escrow Account" shall have the meaning given in the Contribution Agreement. "Escrow Advance" shall mean any advance made to pay taxes or insurance premiums or. An escrow agreement refers to a contract that outlines the terms and conditions of a transaction for something of value – such as a bond, deed, or asset.