Common use of Acceptable Title Clause in Contracts

Acceptable Title. At the Fee Closing (as hereinafter defined), Seller shall convey and Buyer shall accept such title to the Property as is clear and marketable, as well as insurable (without special premium) by any reputable title insurance company licensed to do business in the State of New York (the “Title Company”), subject, nevertheless, only to the following matters (collectively, the "Permitted Exceptions"): (i) Real estate taxes, assessments, water charges, and sewer rents, not yet due and payable. All taxes and charges shall be brought current as of Closing and are subject to Service Agreement No. 1631 apportionment. All Taxes (as defined herein) which are due and payable on or before the Closing shall be paid by Seller on or before the date of Closing and any such amounts so paid which relate to any period following the Closing shall be credited to Seller. All real property taxes for the current year’s tax xxxx, not yet due and payable shall be prorated as of the Closing (based upon the current year’s tax xxxx, if available, or the previous year’s tax xxxx if the current year’s tax xxxx is not available) and the amount thereof which relates to any period prior to Closing shall be credited to Buyer. All assessments, special assessments, and any other like charges actually imposed against the Property, or any part thereof, by reason of roadways, utility lines, streets, alleys or other improvements in existence, under construction or planned and which are due and payable as of the date of Closing shall be prorated to such date. Prepaid water, sewer, and other utility charges allocable to the period from and after the date of Closing (if any) shall be credited to Seller, and accrued and unpaid water, sewer, and other utility charges allocable to the period prior to the date of Closing shall be credited to Buyer. (ii) Any and all covenants, restrictions, agreements, and easements of record affecting the Property (exclusive of liens of a monetary nature), provided same do not interfere with Buyer’s use of the Property and which do not render title uninsurable. (iii) All zoning, building, and environmental laws, ordinances, codes, restrictions and regulations, and any amendments thereto heretofore adopted by any municipal, state, federal or other authority having or claiming jurisdiction over the Property, provided same do not interfere with Buyer’s use of the Property. (iv) Any state of facts which a current accurate survey or personal inspection of the Property would disclose, provided such facts do not render title to the Property unmarketable. (v) Standard exceptions and exclusions from coverage normally contained in the form of the owner’s title insurance policy to be issued by the Title Company.

Acceptable Title. At the Fee Closing (as hereinafter defined), Seller shall convey and Buyer shall accept such title to the Property as is clear and marketable, as well as insurable (without special premium) by any reputable title insurance company licensed to do business in the State of New York (the “Title Company”), subject, nevertheless, only to the following matters (collectively, the "Permitted Exceptions"): (i) Real estate taxes, assessments, water charges, and sewer rents, not yet due and payable. All taxes and charges shall be brought current as of Closing and are subject to Service Agreement No. 1631 apportionment. All Taxes (as defined herein) which are due and payable on or before the Closing shall be paid by Seller on or before the date of Closing and any such amounts so paid which relate to any period following the Closing shall be credited to Seller. All real property taxes for the current year’s tax xxxxbill, not yet due and payable shall be prorated as of the Closing (based upon the current year’s tax xxxxbill, if available, or the previous year’s tax xxxx bill if the current year’s tax xxxx bill is not available) and the amount thereof which relates to any period prior to Closing shall be credited to Buyer. All assessments, special assessments, and any other like charges actually imposed against the Property, or any part thereof, by reason of roadways, utility lines, streets, alleys or other improvements in existence, under construction or planned and which are due and payable as of the date of Closing shall be prorated to such date. Prepaid water, sewer, and other utility charges allocable to the period from and after the date of Closing (if any) shall be credited to Seller, and accrued and unpaid water, sewer, and other utility charges allocable to the period prior to the date of Closing shall be credited to Buyer. (ii) Any and all covenants, restrictions, agreements, and easements of record affecting the Property (exclusive of liens of a monetary nature), provided same do not interfere with Buyer’s use of the Property and which do not render title uninsurable. (iii) All zoning, building, and environmental laws, ordinances, codes, restrictions and regulations, and any amendments thereto heretofore adopted by any municipal, state, federal or other authority having or claiming jurisdiction over the Property, provided same do not interfere with BuyerXxxxx’s use of the Property. (iv) Any state of facts which a current accurate survey or personal inspection of the Property would disclose, provided such facts do not render title to the Property unmarketable. (v) Standard exceptions and exclusions from coverage normally contained in the form of the owner’s title insurance policy to be issued by the Title Company.

Acceptable Title. At the Fee Closing (as hereinafter defined), Seller shall convey and Buyer shall accept such title to the Property as is clear and marketable, as well as insurable (without special premium) by any reputable title insurance company licensed to do business in the State of New York (the “Title Company”), subject, nevertheless, only to the following matters (collectively, the "Permitted Exceptions"): (i) Real estate taxes, assessments, water charges, and sewer rents, not yet due and payable. All taxes and charges shall be brought current as of Closing and are subject to Service Agreement No. 1631 apportionment. All Taxes (as defined herein) which are due and payable on or before the Closing shall be paid by Seller on or before the date of Closing and any such amounts so paid which relate to any period following the Closing shall be credited to Seller. All real property taxes for the current year’s tax xxxxbill, not yet due and payable shall be prorated as of the Closing (based upon the current year’s tax xxxxbill, if available, or the previous year’s tax xxxx bill if the current year’s tax xxxx bill is not available) and the amount thereof which relates to any period prior to Closing shall be credited to Buyer. All assessments, special assessments, and any other like charges actually imposed against the Property, or any part thereof, by reason of roadways, utility lines, streets, alleys or other improvements in existence, under construction or planned and which are due and payable as of the date of Closing shall be prorated to such date. Prepaid water, sewer, and other utility charges allocable to the period from and after the date of Closing (if any) shall be credited to Seller, and accrued and unpaid water, sewer, and other utility charges allocable to the period prior to the date of Closing shall be credited to Buyer. (ii) Any and all covenants, restrictions, agreements, and easements of record affecting the Property (exclusive of liens of a monetary nature), provided same do not interfere with Buyer’s use of the Property and which do not render title uninsurable. (iii) All zoning, building, and environmental laws, ordinances, codes, restrictions and regulations, and any amendments thereto heretofore adopted by any municipal, state, federal or other authority having or claiming jurisdiction over the Property, provided same do not interfere with BuyerXxxxx’s use of the Property. (iv) Any state of facts which a current accurate survey or personal inspection of the Property would disclose, provided such facts do not render title to the Property unmarketable. (v) Standard exceptions and exclusions from coverage normally contained in the form of the owner’s title insurance policy to be issued by the Title Company.