Common use of Acceptance of Title as of the Effective Date Clause in Contracts

Acceptance of Title as of the Effective Date. Seller acknowledges and agrees that the list of title insurance commitments and revisions thereto attached hereto as Exhibit “P” includes all of the title insurance commitments, and all revisions thereto, issued by the Seller’s Title Company on or before the Effective Date. Purchaser acknowledges and agrees that the list of title insurance commitments and revisions thereto attached hereto as Exhibit “P” includes all of the title insurance commitments, and all revisions thereto, issued by the Title Company on or before the Effective Date. The title insurance commitments and revisions thereto listed on Exhibit “P”, and any other title commitments received by Purchaser prior to the Effective Date, are referred to herein collectively as the “Title Commitments”). Purchaser acknowledges and agrees that it has received and reviewed a copy of each of the exceptions and other documents affecting title and disclosed in the Title Commitments. The parties acknowledge and agree that the Purchaser has received for each Property a survey that complies with the Survey Standards. Each of such surveys, including all revisions issued by the surveyor prior to the Effective Date, is identified on Exhibit “Q” (such surveys are referred to herein as the “Surveys”). Notwithstanding anything to the contrary, Purchaser hereby acknowledges and agrees that Purchaser has no right to object to any Liens or Encumbrances disclosed in the Title Commitments or the Surveys, and that the Sellers shall not be obligated to Cure any of such Liens or Encumbrances except as provided in clause (ii) of the first sentence of Section 4.1.2(a) below.

Acceptance of Title as of the Effective Date. Seller acknowledges The parties acknowledge and agrees agree that the list of title insurance commitments and revisions thereto attached hereto as Exhibit “P” includes all of the title insurance commitments, and all revisions thereto, issued by the Seller’s Title Company on or before the Effective Date. Purchaser acknowledges and agrees that the list of title insurance commitments and revisions thereto attached hereto as Exhibit “P” includes all of the title insurance commitments, and all revisions thereto, issued by the Title Company on or before the Effective Date. The has made available to Purchaser commitments for title insurance commitments and revisions thereto listed on Exhibit (collectively, the “PTitle Commitments”, and any other ) addressing the status of title commitments received by Purchaser to each Property as of a date prior to the Effective Date, including (to the extent available) copies of Liens and Encumbrances that are referred indicated as Property-specific exceptions to herein collectively as the “Title Commitments”)title in such title commitments. Purchaser acknowledges and agrees that it has received and reviewed a copy of each Each of the exceptions and other documents affecting title and disclosed in the Title CommitmentsCommitments is set forth on Disclosure Schedule 6. The parties acknowledge and agree that the Purchaser has received for each Property a survey that complies with the Survey Standards. Each of such surveysthe Surveys, including all revisions issued by the surveyor Surveyor prior to the Effective Date, is identified on Exhibit “Q” Disclosure Schedule 7 (such surveys are referred to herein as the “Surveys”). Notwithstanding anything On or prior to the contraryClosing Date, Seller shall deliver a certification to Title Company, in the form attached hereto as Exhibit J-2, as to the absence of physical changes to the exterior of Improvements at the Properties from that shown on the Surveys (collectively, “Sellers’ Survey Certification”). Purchaser hereby acknowledges and agrees that Purchaser has no right to object to any Liens or Encumbrances disclosed in the Title Commitments or the SurveysSurveys set forth on Disclosure Schedule 6 and Disclosure Schedule 7, respectively, except for Involuntary Liens or Involuntary Encumbrances, if any, listed on Disclosure Schedule 8, and that the Sellers shall not be obligated to Cure any of such Liens or Encumbrances except as provided in clause (ii) of the first sentence of Section 4.1.2(a) 4.1.2 below.

Acceptance of Title as of the Effective Date. Seller acknowledges and agrees that the list of title insurance commitments and revisions thereto attached hereto as Exhibit “P” includes all of the title insurance commitments, and all revisions thereto, issued by the Seller’s Title Company on or before the Effective Date. Purchaser acknowledges and agrees that the list of title insurance commitments and revisions thereto attached hereto as Exhibit “P” includes all of the title insurance commitments, and all revisions thereto, issued by the Title Company on or before the Effective Date. The title insurance commitments and revisions thereto listed on Exhibit “P”, and any other title commitments received by Purchaser prior to the Effective Date, are referred to herein collectively as the “Title Commitments”). Purchaser WRIT Industrial II acknowledges and agrees that it has received and reviewed a copy of each of the exceptions and other documents affecting title and disclosed in the Title Commitments. The parties acknowledge and agree that the Purchaser has received for each Property a survey that complies with the Survey Standards. Each of such surveys, including all revisions issued by the surveyor prior to the Effective Date, is identified on Exhibit “Q” (such surveys are referred to herein as the “Surveys”). Notwithstanding anything to the contrary, Purchaser hereby acknowledges and agrees that Purchaser has no right to object to any Liens or Encumbrances disclosed in the Title Commitments or the Surveys, and that the Sellers shall not be obligated to Cure any of such Liens or Encumbrances except as provided in clause (ii) of the first sentence of Section 4.1.2(a) below.

Acceptance of Title as of the Effective Date. Seller acknowledges The parties acknowledge and agrees agree that First American Title Insurance Company (the list “Title Company”) has made available to the Partnership commitments for title insurance (collectively, the “Title Commitments”) addressing the status of title insurance commitments and revisions thereto attached hereto to each Property as Exhibit “P” includes all of the title insurance commitments, and all revisions thereto, issued by the Seller’s Title Company on or before the Effective Date. Purchaser acknowledges and agrees that the list of title insurance commitments and revisions thereto attached hereto as Exhibit “P” includes all of the title insurance commitments, and all revisions thereto, issued by the Title Company on or before the Effective Date. The title insurance commitments and revisions thereto listed on Exhibit “P”, and any other title commitments received by Purchaser a date prior to the Effective Date, including (to the extent available) copies of Liens and Encumbrances that are referred indicated as Property-specific exceptions to herein collectively as the “Title Commitments”)title in such title commitments. Purchaser acknowledges and agrees that it has received and reviewed a copy of each Each of the exceptions and other documents affecting title and disclosed in the Title CommitmentsCommitments is set forth on Schedule 3.1(a). The parties acknowledge and agree that the Purchaser Partnership has received for each Property a survey that complies with meets the Survey StandardsMinimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys in effect as of the Effective Date. Each of such surveysthe Surveys, including all revisions issued by the surveyor made prior to the Effective Date, is identified on Exhibit “Q” Schedule 3.1(b) (such surveys are referred to herein as the “Surveys”). Notwithstanding anything On or prior to Closing, each Contributor shall deliver a certification to the contraryPartnership and the Title Company, Purchaser in form and substance reasonably satisfactory to the Title Company confirming that it has made no material physical changes to its Property(ies) from that shown on the Surveys (each, a “Contributor’s Survey Certification”). The Partnership hereby acknowledges and agrees that Purchaser the Partnership has no right to object to any Liens or Encumbrances disclosed in the Title Commitments or the SurveysSurveys set forth on Schedule 3.1(a) and Schedule 3.1(b), respectively, each of which being deemed to be a Permitted Exception hereunder or to object to any Permitted Exception in Section 3.3, and that the Sellers Contributors shall not be obligated to Cure any of such Liens or Encumbrances except as provided in clause (iiSection 3.2 below; provided, however, that any Involuntary Liens or Involuntary Encumbrances listed in Schedule 3.1(c) of shall not be Permitted Exceptions and the first sentence of Section 4.1.2(a) belowContributors shall cure such Involuntary Liens or Involuntary Encumbrances prior to Closing.

Acceptance of Title as of the Effective Date. Purchaser and Seller acknowledges acknowledge and agrees agree that the list of title insurance commitments and revisions thereto attached hereto as Exhibit “PM” includes all the latest draft of the title insurance commitments, and all revisions thereto, issued by the Seller’s Title Company on or before the Effective Date. Purchaser acknowledges and agrees that the list of title insurance commitments and revisions thereto attached hereto as Exhibit “P” includes all of the title insurance commitments, and all revisions thereto, issued by the Title Company on or before as of the Effective Date. The title insurance commitments and revisions thereto listed on Exhibit “P”, and any other title commitments received by Purchaser prior to the Effective Date, M” are referred to herein collectively as the “Title Commitments”). Purchaser acknowledges and agrees that it has received and reviewed a copy of each of the exceptions and other documents affecting title and disclosed in the Title Commitments. The parties acknowledge and agree that the Purchaser has received for each Property a any such survey that complies with the Survey Standardsin Seller’s possession. Each of such surveys, including all revisions issued by the surveyor prior to the Effective Date, is identified on Exhibit “QN” (such surveys are referred to herein as the “Surveys”). Notwithstanding anything to the contrary, Purchaser hereby acknowledges and agrees that Purchaser has no right to object to any Liens or Encumbrances disclosed in the Title Commitments or the Surveys, provided that at or prior to Closing, each Seller, with respect to its Property or Properties, shall, at its sole cost and that expense, (i) pay in full and cause to be canceled all loan security documents which encumber its Property or Properties as of the Sellers shall not be obligated to Cure any of such Liens or Encumbrances except as provided in clause date hereof, (ii) pay in full all past due ad valorem taxes and assessments of any kind constituting a lien against its Property or Properties, (iii) Cure or pay in full any Liens against its Property or Properties arising from ongoing or anticipated work and construction performed by Seller and occurring prior to the Closing Date, including, without limitation, the ACI Permitted Work and the Additional Property Permitted Work, (iv) Cure or pay in full any monetary liens not otherwise covered in (iii) above against its Property or Properties not exceeding $1,250,000.00 in the aggregate and (v) Cure or otherwise cause the discharge of those New Matters timely objected to by Purchaser pursuant to Section 4.1.4. If Seller cannot or will not or does not Cure or otherwise cause the Title Company to remove any of the first sentence items described in clauses (i) through (iv) above (collectively “Monetary Encumbrances”), then Purchaser shall be permitted to cure such Monetary Encumbrances by instructing the Title Company to pay at Closing such portion of Section 4.1.2(a) belowthe Purchase Price to the holders of such Monetary Encumbrances as is necessary to remove such Monetary Encumbrances and to obtain from the holders of such Monetary Encumbrances any recordable releases required by the Title Company to remove those Monetary Encumbrances as exceptions to the Title Policy.

Acceptance of Title as of the Effective Date. Seller acknowledges and agrees that the list of Commitment for Title Insurance by Chicago Title Insurance Company, dated December 19, 2010 (CTIC order number 2480-11010) (the “CTIC Title Commitment”), is the entire title insurance commitments and revisions thereto attached hereto as Exhibit “P” includes all of the title insurance commitmentscommitment, and all revisions thereto, issued by the Seller’s Title Company on or before the Effective Date. Purchaser acknowledges and agrees that the list of Commitment for Title Insurance by the Title Company, dated July 10, 2011 (FATIC title commitment no. NCS-496515-9-DC72) (together with the CTIC Title Commitment, the “Title Commitment”), is the entire title insurance commitments and revisions thereto attached hereto as Exhibit “P” includes all of the title insurance commitmentscommitment, and all revisions thereto, issued by the Title Company on or before the Effective Date. The title insurance commitments and revisions thereto listed on Exhibit “P”, and any other title commitments received by Purchaser prior to the Effective Date, are referred to herein collectively as the “Title Commitments”). Purchaser acknowledges and agrees that it has received and reviewed a copy of each of the exceptions and other documents affecting title and disclosed in the Title CommitmentsCommitment. The parties acknowledge and agree that the Purchaser has received the ALTA/ACSM Land Title Survey by Dominion Surveyors, Inc., dated May 24, 2011 (the “Survey”), for each Property a survey that the Property, which complies with the Survey Standards. Each of such surveys, including all revisions issued by the surveyor prior to the Effective Date, is identified on Exhibit “Q” (such surveys are referred to herein as the “Surveys”). Notwithstanding anything to the contrary, Purchaser hereby acknowledges and agrees that Purchaser has no right to object to any Liens or Encumbrances disclosed in the Title Commitments Commitment or the SurveysSurvey, and that the Sellers Seller shall not be obligated to Cure any of such Liens or Encumbrances except as provided in clause (ii) of the first sentence of Section 4.1.2(a) below.