CONDITION OF TITLE - TITLE INSURANCE. The title to be transferred shall be a marketable title and insurable at regular rates by a reputable title insurance company authorized to do business in the State of New Jersey. The title shall be free and clear of all encumbrances including municipal liens and assessments and liabilities for future assessments for improvements constructed and completed; however, title shall be subject to liabilities for future assessments for municipal improvements not completed on the date of this Contract. The title shall be subject to all existing utility easements and restrictions of record, if any. Generally, an easement is a right of a person other than the owner of the property to use a portion of the property for a special purpose. A restriction is a recorded limitation on the use of the property. A violation of any restriction shall not be a reason for Buyer refusing to complete settlement as long as the title company insures the Buyer against actual loss at regular rates. Seller states, to the best of the Seller’s knowledge, that there are no restrictions in any conveyance or plans of record which will prohibit use and/or occupancy of the property as a bank branch or other permitted commercial use.
CONDITION OF TITLE - TITLE INSURANCE. The title to be transferred shall be a marketable title and insurable at regular rates by a reputable title insurance company authorized to do business in the State of New Jersey. The title shall be free and clear of all encumbrances including municipal liens and assessments and liabilities for future assessments for improvements constructed and completed; however, title shall be subject to liabilities for future assessments for municipal improvements not completed on the date of this Contract. The title shall be subject to all existing easements and restrictions of record, if any. Generally, an easement is a right of a person other than the owner of the property to use a portion of the property for a special purpose. A restriction is a recorded limitation on the use of the property. A violation of any restriction shall not be a reason for Purchaser refusing to complete settlement if the title company insures the Purchaser against actual loss at regular rates.
CONDITION OF TITLE - TITLE INSURANCE. 2.5.1 Developer acknowledges receipt of a preliminary title report prepared by Escrow Holder for the Property (“Title Report”). Developer shall acquire the Property subject to all exceptions described in the Title Report, together with all non-delinquent real property taxes and assessments to be assessed against the Property (“Approved Exceptions”). At the Closing, Seller shall deliver title to the Property to Buyer subject only to the Approved Exceptions.
CONDITION OF TITLE - TITLE INSURANCE. 5.1 Seller shall promptly obtain from Commonwealth Land Title Insurance Company, 5949 Sherry Lane, Ste. 111, Dallas, Texas 75225 Attn: James Lazxx (000-000-0000) (the "Title Company") a preliminary tixxx xxxxxx or commitment prepared by Commonwealth Land Title Insurance Company or Lawyers Title Insurance Corporation (the "Title Commitment") to issue an Owner's Policy of Title Insurance (the "Title Policy") insuring Purchaser's title to the Property to be good and indefeasible in the amount of the Purchase Price, subject only to the Permitted Encumbrances and other liens and encumbrances not constituting objections to title in accordance herewith. A copy of the Title Commitment, Seller's existing survey, and the documents of record reflected in the Title Commitment shall be furnished to the attorneys for Purchaser. Within five (5) business days after Purchaser's attorney receives the Title Commitment, Purchaser shall give written notice (the "Objection Notice") to the attorneys for Seller of any conditions of title which Purchaser is not obligated to take the Property subject to pursuant to the provisions of this Agreement (the "Objections") separately specifying and setting forth each of such Objections. Seller shall be entitled to reasonable adjournments of the Closing Date to cure the Objections. If Purchaser gives Seller an Objection Notice within the five (5) business day period set forth above, then all matters disclosed on the Title Commitment which are not objected to in such Objection Notice shall be deemed to be Permitted Encumbrances. If Purchaser fails to give Seller an Objection Notice within the five (5) business day period set forth above, then all matters disclosed on the Title Commitment shall be deemed to be Permitted Encumbrances.
CONDITION OF TITLE - TITLE INSURANCE. The title to be transferred shall be a marketable title and insurable at regular rates by a reputable title insurance company authorized to do business in the State of New Jersey. The title shall be free and clear of all encumbrances with the exception of any real estate taxes, water and sewer rents and any other municipal liens and assessments. The title shall be subject to all existing utility easements and restrictions of record, if any. A violation of any restriction shall not be a reason for Purchaser refusing to complete settlement as long as the title company insures the Purchaser against actual loss at regular rates.
CONDITION OF TITLE - TITLE INSURANCE. Housing Authority acknowledges receipt of the preliminary title report issued by First American Title Insurance Company (“Title Insurer”) for the Midway Drive Parcel, dated July 5, 219, Order No NCS-970122-SA1; and Encore acknowledges receipt of the preliminary title report issued by Title Insurer for the Zeyn Street Parcel, dated September 24, 2019, Order No. NCS-982166-SA1 (“Title Reports”), together with copies of any exceptions referred to in Schedule B of the Title Reports. Each party shall promptly review the exceptions, legal descriptions and other matters contained in the Title Report.
CONDITION OF TITLE - TITLE INSURANCE. The title to be transferred shall be a marketable title and insurable at regular rates by a reputable title insurance company authorized to do business in the State of New Jersey. The title shall be free and clear of all encumbrances including municipal liens and assessments and liabilities for future assessments for improvements constructed and completed; however, title shall be subject to liabilities for future assessments for municipal improvements not completed on the date of this Contract. The title shall be subject to all existing easements and restrictions of record, if any. A violation of any restriction shall not be a reason for Purchaser refusing to complete settlement if the title company insures the Purchaser against actual loss at regular rates.
CONDITION OF TITLE - TITLE INSURANCE. Title will be subject to the exceptions shown on any preliminary title report. Evidence of title will be a California Land Title Association (CLTA) standard policy of title insurance to be paid for by Xxxxx. Xxxxx Fargo Bank, N.A., in its fiduciary capacity, shall execute a quitclaim or trustee's deed only. If for any reason whatsoever title in the manner set forth herein cannot be conveyed by Xxxxx Fargo Bank, N.A., in its fiduciary capacity, Xxxxx Fargo Bank, N.A., in its fiduciary capacity, shall have the right to withdraw from the transaction, and shall be released from all liability hereunder.
CONDITION OF TITLE - TITLE INSURANCE. A. At the Closing, Seller shall convey to Purchaser insurable (at regular rates) fee simple title to the Property, and shall execute and deliver to Purchaser a bargain and sale deed with covenant against grantor's acts, in recordable form, subject only to the following exceptions ("Permitted Exceptions"):
CONDITION OF TITLE - TITLE INSURANCE. 7.01 Seller agrees to make, promptly after the receipt of Purchaser's Notice of Election in exercise of the option granted and conveyed hereunder, application for a title insurance fee owner's policy to be issued to Purchaser, and in connection with the issuance of such title policy, to cause title to the EXHIBIT A TRACT to be searched and examined by CHICAGO TITLE INS. CO. (hereinafter the "Title Insurance Company") and to deliver to the Purchaser, copies of the title insurance Company's report, and the tax search. The title insurance policy to be issued at Closing shall carry only the standard exceptions and exceptions regarding Permitted Encumbrances. The title insurance policy, however, will have all standard provisions regarding insuring the boundary lines deleted and will issue such in accordance with the survey.
