Modular Panel System Particularly for Below Grade Applications

A modular wall panel system comprising:

• a first receiver strip and a second receiver strip configured to respectively be secured to a selective upper position and lower position on a wall, each said receiver strip comprising:
• an elongated base;
• a first flange and a second flange spaced a first distance (G2) apart;
• each of said first and second flanges configured to cantilever a second distance (P) from said base to a free end thereof;
• each of said first and second flanges comprising:
• a first tapered surface extending away from said free end and a second tapered surface extending from said first tapered surface to form a respective apex positioned at a third distance (T) from said free end;
• wherein said apex on said first flange is positioned thereon to be disposed towards said second flange, and said apex on said second flange is positioned thereon to be disposed towards said first flange;
• and
• wherein said apex of said second flange is positioned at a fourth distance (G) away from said apex of said first flange;
• a base molding having a bottom surface, a rear surface, and a sculpted surface, said base molding comprising a mating flange configured to cantilever a fifth distance (L) from said rear surface to a free end thereof, said mating flange configured to be mated between said first and second flanges of said second receiver strip at the selective lower wall position;
• said mating flange comprising:
• a flange member protruding from said rear surface, formed by a first pair of flange surfaces spaced at least a sixth distance (W) apart;
• a pair of wedge surfaces that converge to create a wedge shape configured to taper down toward said free end of said mating flange;
• a second pair of surfaces that converge beginning from a wide end of said wedge shape, down toward said first pair of flange surfaces, to join said first pair of flange surfaces at a seventh distance (D) from said rear surface;
• and
• a first apex and a second apex formed by said converging wedge surfaces and said converging second pair of surfaces, with said first and second apices each positioned a eighth distance (W2) apart from each other;
• a crown molding having a top surface, a rear surface, and a sculpted surface, said crown molding comprising a mating flange configured to be mated between said first and second flanges of said first receiver strip selectively positioned at the upper wall position;
• said mating flange of said crown molding formed substantially the same as said mating flange for said base molding;
• and
• a panel configured to be inserted behind said rear surface of said crown molding, when mated with said receiver strip at said selective upper wall position, and behind said rear surface of said base molding, when mated with said receiver strip at said selective lower wall position, for said panel to be releasably positioned in proximity to the wall, and with said panel supported above the floor by said first flange of said second receiver strip and by said mating flange of said crown molding.