VICTOR, P. J.
On January 6, 1970, an "Offer to Purchase-Acceptance" (hereinafter referred to as "agreement") was executed between plaintiffs-appellees and the owner of certain real estate located in Vermilion, Ohio. This agreement was also signed by defendant-appellant in his capacity of real estate broker. The portions of the agreement, pertinent to this case, are as follows:
"All Funds and Papers shall be placed in Escrow
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