Conditions of Title. (a) Buyer shall obtain within seven days after the Contract Date a Commitment for Title Insurance, (hereinafter the “Commitment”), issued by the Title Company, covering the Property, together with legible copies of all documents of record described therein.
(b) Buyer shall, within ten (10) days after the receipt of the Commitment, give written notice to Seller specifying any and each title exception contained in the Commitment which would materially impair or prohibit Buyer’s purchase, financing, develop or use of the Property (hereinafter a “Material Title Defect”).
(c) Seller may within 10 days of notice of the Material Title Defect, in Seller’s sole discretion, elect to cause such Material Title Defect to be removed or cured prior to the end of the Due Diligence Period. For Material Title Defects that may be cured with the payment of money, Seller may elect to cause such Material Title Defects to be cured by paying the obligation with the Purchase Price proceeds at the Closing. Seller may cure Material Title Defect or inform Buyer that such Material Title Defect will not be cured.
(d) If Seller elects not to remove or cure a Material Title Defect, then Buyer may elect to waive each objection to a Material Title Defect and accept the Material Title Defect as provided in Section 3.3.5 PERMITTED EXCEPTIONS hereof and without adjustment to the Purchase Price for such Material Title Defect or (b) terminate this Agreement. (in which latter case the Initial Deposit shall be refunded to Buyer immediately upon written request to Escrow, and the parties’ obligation to close the purchase and sale transaction provided for in this Agreement shall terminate).
(e) Buyer’s election to waive the Material Title Defect must be made on or before the expiration of the Due Diligence Period. In the event Buyer fails to make its election after Buyer’s timely receipt of Seller’s notice that a Material Title Defect will not be cured prior to or at the Closing, Buyer shall be deemed to have rejected the Material Title Defect and the transaction will terminate in accordance with this Article 3.0
Conditions of Title. 12.1 The Property is sold subject to all conditions, restrictions and servitudes (if any) attaching thereto or mentioned, or referred to in the relevant Title Deed, or prior Deeds. The Seller shall not be liable for any deficiency in extent which may be revealed on any re-survey, nor shall the Seller benefit by any possible surplus.
12.2 The Purchaser acknowledges and warrants that he has not been induced into entering into this Agreement by any express or implied information, statement, advertisement or representation made or given any warranties in respect of the Property or anything relating thereto, by the Auctioneer or any other person, or by or on behalf of the Seller and that is not contained in this Agreement.
12.3 The Purchaser acknowledges that he has fully acquainted himself with the Property that he has purchased alternatively that he elected to purchase the Property without fully acquainting himself therewith.
Conditions of Title. (a) At the Closing, Seller shall convey good and marketable fee simple title to the Land, Appurtenances, and Improvements to Purchaser by Special Warranty Deed, free and clear of all liens, encumbrances, and other exceptions to title, except the Permitted Title Exceptions (as defined in Section 3.1(g) below), in a form to be negotiated and agreed-upon in good faith by the Parties that is acceptable and insurable by the Title Company (the “Deed”).
(b) At the Closing, Seller shall convey title to the Tangible Property and Personal Property to Purchaser by a Bxxx of Sale free and clear of all liens, encumbrances, and other exceptions to title, except the Permitted Title Exceptions, in a form to be negotiated and agreed-upon in good faith by the Parties (the “Bxxx of Sale”).
(c) At the Closing, Seller shall assign, transfer, convey, and deliver possession, title, control, and ownership to the Intangible Property to Purchaser in accordance with an Assignment and Assumption Agreement, in a form to be negotiated and agreed-upon in good faith by the Parties (the “General Assignment”). The General Assignment shall state and be consistent with the non-assumption of liabilities provided for in Section 1.2 above.
(d) The title to the Property to be conveyed by Seller to Purchaser must be acceptable to and insurable by a nationally-recognized and financially sound title insurance company designated by Purchaser (such title insurance company so designated being referred to as the “Title Company”) under the Owner’s Title Policy, free and clear of all liens, encumbrances, and other exceptions to title, except the Permitted Title Exceptions. As of the Effective Date of this Agreement, First American Title Insurance Company (National Commercial Services) located at 200 Xxxxx Xxxxx Xxxxxx, Xxxxx 000, Xxxx Xxxx Xxxx, Xxxx 00000, has been designated by Purchaser as the Title Company and the underwriter of the Owner’s Title Policy.
(e) The transfer of the Property to Purchaser shall include any and all of Seller’s ownership and rights in any water rights, water contracts, and water shares (collectively, the “Water Rights”) that pertain to or are associated with the Land and any land lying in the bed of any street, sidewalk, or highway, opened or proposed, in front of or adjoining the Property to the center line thereof, to the extent owned by Seller. The transfer of the Property also includes any right of Seller to any unpaid amount by reason of any taking by condemnation and/o...
Conditions of Title. At the Closing, Seller shall convey the Real Property to Buyer by good and sufficient Grant Deeds, substantially in the form attached hereto as Exhibit A, subject to no exceptions other than:
a. Any exceptions disclosed by a preliminary title report and any other exceptions to title, which would be disclosed by an inspection and/or survey of the Real Property.
b. The Notice of Affordable Housing Requirement per Government Code Section 54233, attached hereto as Exhibit “B.”
c. All the foregoing exceptions shall be referred to collectively as the “Conditions of Title.”
Conditions of Title. Escrow Holder shall cause a current commitment for title insurance ("Title Commitment") concerning the Property issued by the Title Company, as well as legible copies of all documents referred to in the Title Commitment ("Underlying Documents"), and a scaled and dimensioned plot showing the location of any easements to be delivered to Buyer within 10 or days following the Date of Agreement. Buyer has 10 20 days from the receipt of the Title Commitment, the Underlying Documents and the plot plan to satisfy itself with regard to the condition of title. The disapproval by Buyer of any monetary encumbrance, which by the terms of this Agreement is not to remain against the Property after the Closing, shall not be considered a failure of this contingency, as Seller shall have the obligation, at Seller's expense, to satisfy and remove such disapproved monetary encumbrance at or before the Closing.
Conditions of Title. The Purchaser acknowledges that the Property is sold subject to the Rules and all conditions, restrictions and servitudes benefiting or burdening it and the Land, whether existing or hereinafter imposed by any competent authority or by the Seller.
Conditions of Title. Escrow Holder shall cause a current commitment for title insurance ("Title Commitment") concerning the Property issued by the Title Company, as well as legible copies of all documents referred to in the Title Commitment ("Underlying Documents") to be delivered to Buyer within 10 or ____ days following the Date of Agreement. Buyer has 10 days from the receipt of the Title Commitment and Underlying Documents to satisfy itself with regard to the condition of title. The disapproval of Buyer of any monetary encumbrance, which by the terms of this Agreement is not to remain against the Property after the Closing, shall not be considered a failure of this contingency, as Seller shall have the obligation, at Seller's expense, to satisfy and remove such disapproved monetary encumbrance at or before the Closing.
Conditions of Title. “Conditions of Title” means the following exceptions to title to the Property:
Conditions of Title. At Closing, the Assets shall be conveyed by appropriate instruments of conveyance free and clear of all claims, security interests, liens and encumbrances except personal property and ad valorem taxes for the year of Closing (which shall be prorated as provided in this Agreement), or leases, if any, which remain outstanding which have been assumed by UCI of SC.
Conditions of Title. At the Closing, Buyer will take title to the Real Property subject to the following matters (hereafter, the “Permitted Exceptions”), unless such matters are disapproved by Buyer in accordance with the terms of Section 5.3:
