DEVELOPER will deposit, for the sole benefit of the TOWNSHIP, as escrow agent, the initial sum of. DEVELOPER will deposit, for the sole benefit of the.TOWNSHIP, as escrow agent, the initial sum of. A form of escrow agreement is a legal contract that guarantees a third party will hold the funds or property during an exchange. Escrow Administrator shall have the right to cause the improvements to be made, and to pay for the completion of said improvements out of the deposited funds. This escrow agreement template can be used to identify an escrow agent and establish an escrow agreement between a buyer and seller. Escrow is a neutral, thirdparty account used to hold funds or documents on behalf of people in a transaction. Follow the onscreen prompts to complete the process. Only those obligations written in a court agreement are enforceable. It may be filed only in a Pennsylvania magisterial district court and not in the Philadelphia Municipal Court.