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ELEASE OF CONTRACT and DISBURSEMENT OF EARNEST MONEY In consideration of the mutual release of all parties to the Contract of Sale of Real Estate between the undersigned Seller and undersigned Buyer dated , relating to the real estate described therein, identified as: the undersigned Seller, Buyer, Listing and Selling Broker hereby agree to mutually release each other from all further obligation to buy, sell or exchange under the Contract and from all claims, demand, liabilities and losses each may have against the other(s) by reason of this Contract..