Section 6: Payment When Escrow Procedure is UsedAnchor: #i1002624
If the landowner will not execute and escrow the deed but will execute the MOA, the Agreement must be forwarded with the payment request for the parcel. The State warrant must be escrowed with a State or national bank as required by Transportation Code, §203.061.
If the owner refuses to execute a deed or a Memorandum of Agreement, the Department's request to the ROW Program Office in Austin for issuance of a State warrant to be placed in escrow must be supported by:
- the usual copies of a title policy commitment or Attorney's Certificate "A", Form ROW-N-ACA (see Payment Procedures for Negotiated Parcels (for LPA) ) and, if possible
- a written indication by the owner that the offer and the placing of the State warrant in escrow is acceptable.
The Department's payment request must include:
- State or national bank's name, street address, and town or city, and
- the name of the bank official with whom the State warrant can be placed in escrow.
An escrow agreement must be written by the Finance Division for use in escrowing the State's warrant and must be transmitted to the right of way staff with the warrant.