Buyer’s Title Policy. As of the Closing, the Title Company shall have issued or shall have committed to issue, upon the sole condition of the payment of its regularly scheduled premium, the Buyer's Title Policy;
Buyer’s Title Policy. The Title Company shall, upon payment of Title Company’s regularly scheduled premium, have agreed to provide Buyer’s Title Policy for the Property upon the Closing, in accordance with Section 3(b).
Buyer’s Title Policy. At the Closing, Escrow Holder shall cause the Title Company to issue to Buyer a 2006 form ALTA Extended Coverage Owner’s Policy of Title Insurance on each of the Target Properties (“Buyer’s Title Policy”) which:
Buyer’s Title Policy. Xxxxx's obligation to consummate the purchase shall be conditioned upon the willingness, as of the closing, of Ticor Title Insurance of California (the "Title Company") to issue its CLTA Standard Coverage Policy the "Title Policy" (unless Buyer elects to require an ALTA extended coverage policy), with liability limits in the amount of the Purchase Price with such endorsements as Buyer may reasonably require, insuring title to the Property as vested in Buyer, free and clear of all liens and encumbrances and other matters of record affecting title to the Property except the following (the "Permitted Exceptions"):
Buyer’s Title Policy. On or before the Closing, Title Company shall, upon payment (by Buyer) of Title Company’s premium, have agreed to issue to Buyer, a standard ALTA owner’s policy of title insurance insuring only as to matters of record title (“Buyer’s Title Policy”) in the amount of the Purchase Price showing fee title to the Real Property vested solely in Buyer and subject only to the (i) the standard, preprinted exceptions to Buyer’s Title Policy; (ii) liens to secure payment of real estate taxes or assessments not yet delinquent; (iii) matters affecting the Real Property created by or with the written consent of Buyer; and (iv) those matters specifically approved in writing by Xxxxx. Buyer shall have the right, at its sole cost and expense, to obtain coverage beyond that offered by a Standard Buyer’s Title Policy (such as an owner’s extended coverage ALTA policy); provided, however, that Buyer’s ability to obtain such extended coverage shall not be a Buyer’s Contingency and Xxxxx’s obligations hereunder shall in no way be conditioned or contingent upon obtaining such extended coverage. Buyer shall have sole responsibility for obtaining and bearing the cost of, any endorsements and for any survey or other matters required by the Title Company for such extended coverage. In the event Xxxxx enters into a loan agreement to generate moneys to purchase the Real Property from Seller under this Agreement, Buyer and not Seller shall be responsible for the title insurance, closing costs, and any other costs, fees, or expenses in relation to Buyer obtaining such loaned moneys. The sale shall be all cash to Seller.
Buyer’s Title Policy. Concurrently with the Closing, the Title Company shall issue to Buyer a 2006 or ALTA Standard Owner Policy of title insurance (amended 6/17/06) without arbitration provisions in the amount of the Purchase Price, showing fee title to the Property vested solely in ATN Asset Holding Co. LLC, a California limited liability company, with all property taxes and assessments shown as paid (“Buyer’s Title Policy”). The premium for the Buyer’s Title Policy shall be charged to Buyer. If Buyer requests an Extended ALTA Owner Policy and/or any endorsements, then Buyer shall also be charged any premium associated with such requests.
Buyer’s Title Policy. As of the Closing, the Title Company (1) shall not have delivered any supplement to the preliminary title report for the Property dated as of February 6, 2012, prepared by Chicago Title Company and attached as Exhibit C to this Agreement (“Buyer’s Title Report”), disclosing additional title exceptions (other than identification of any new Leases entered into by Seller, as landlord, pursuant to Section 7.2 below or notices of non-responsibility or subordination, non-disturbance or attornment agreements recorded against the Property related to such new Leases or existing Leases) which are not reasonably acceptable to Buyer, except that this condition will be deemed satisfied even if a supplement to Buyer’s Title Report is delivered by the Title Company so long as Seller causes any additional title exceptions to be removed from such supplemental report prior to the Closing; and (2) shall have committed itself to issue, upon the condition of the payment of its regularly scheduled premium, the Title Policy (as defined in Section 6.2 below), and, at Buyer’s sole cost and election, a title insurance gap policy which is sufficient to provide Buyer title insurance coverage for title defects or exceptions that may arise following the Title Company’s commitment to issue the Title Policy but prior to its actual issuance of the same. Buyer acknowledges receipt from Seller of the most recent ALTA survey for the Property in Seller’s possession (dated August 23, 2011 and prepared by Tronoff Associates – Land Surveyors) (“Seller’s Existing Survey”). As of the Closing, any other survey (or update to Seller’s Existing Survey) obtained by Buyer which is necessary for the issuance of the Title Policy shall not deviate in any material respect from Seller’s Existing Survey.
Buyer’s Title Policy. Concurrently with the Closing, the Title Company shall issue to Buyer a 2006 or ALTA Standard Owner Policy of title insurance (amended 6/17/06) without arbitration provisions in the amount of the Purchase Price, showing fee title to the Property vested solely in the Anaheim Housing Authority, a public body, corporate and politic, with all property taxes and assessments shown as liens not yet due, payable, or ascertainable (“Buyer’s Title Policy”), in the form of the proforma owner’s title policy attached hereto as Exhibit G and incorporated herein (“Proforma Title Policy”); provided that the instruments referenced as Exception 10 and the deed of trust referenced as Exception 13 must be removed (Exception 10 may be endorsed against) prior to or concurrently with and as a Buyer’s Condition Precedent to the Closing. The premium for the Buyer’s Title Policy and any endorsements required by Buyer shall be charged to Buyer.
Buyer’s Title Policy. Concurrently with the Closing, the Escrow Holder in its capacity as an insurer of title (the “Title Company”) shall issue to Buyer a 2006 CLTA or ALTA, at the option of Buyer, owner’s policy of title insurance (amended 6/17/06) without arbitration provisions in the amount of the Purchase Price, showing fee title to the Property vested solely in the Buyer, with all property taxes and assessments shown as paid, The premium for the Buyer’s Title Policy and any endorsements required by Seller and Buyer shall be charged to Buyer as described in Section 11, subdivisions (a) and (b). Buyer may require, as a Buyer’s Condition Precedent to the Closing, that Seller execute an estoppel agreement and/or a subordination agreement in a form acceptable to Buyer, confirming that, as of the Closing, (a) the Seller shall have no further interest in the Property or any portion thereof or any improvements thereon.
Buyer’s Title Policy. If prior to the end of the Due Diligence Period, Buyer shall have obtained the Title Commitment in accordance with Section 3(c) hereof, Buyer shall have received the Title Company's confirmation of its intention to issue Buyer's Title Policy in accordance with the Title Commitment, effective as of Closing; provided that Buyer shall act in diligent good faith to cause such confirmation. Neither Seller nor Buyer shall act or fail to act for the intended purpose of permitting or causing any of the foregoing conditions to Buyer's obligations to fail. If any of the foregoing conditions to Buyer's obligations have not been satisfied on or before the Scheduled Closing Date, and such condition has not previously been waived by Buyer, Buyer may either (i) waive such condition to Buyer's obligations, in which event the transaction contemplated by this Agreement shall close in accordance with the terms hereof (provided all other conditions precedent have been either waived or satisfied as provided herein), or (ii) terminate this Agreement in accordance with Section 7 hereof. If Buyer fails to take an action in clause (i) or (ii) hereof within five calendar days of the Scheduled Closing Date, such failure shall be deemed an election by Buyer to terminate this Agreement. The foregoing shall not limit Buyer from exercising the remedies available to Buyer upon a default by Seller as provided in Section 13(b) hereof.
