Conveyance and Transfer of Owned Real Property. At the Closing, Seller shall deliver a warranty deed to the Owned Real Property in the form attached hereto as Exhibit 4.6 with good and marketable title, free and clear of all Encumbrances, except for Permitted Encumbrances and Permitted Liens. Five (5) days prior to Closing, Seller shall furnish to Buyer, at Seller's expense, a commitment for title insurance from a title insurance company reasonably acceptable to Buyer showing title to the Owned Real Property to be conveyed to be good, indefeasible and vested in Seller free and clear of all liens, claims and encumbrances, exceptions, reservations, or restrictions except as Permitted Liens and Permitted Encumbrances. Five (5) days prior to the Closing Date, Seller shall furnish to Buyer and to the title insurance company, at the joint expense of Seller and Buyer, a survey dated not more than thirty (30) days prior to the Closing Date prepared by a licensed or registered public surveyor acceptable to the title company. The survey shall be prepared in accordance with American Land Title Association standards or applicable state standards and shall include but not be limited to: (a) a metes and bounds or a lot and block legal description of the subject property including a calculation and certification by the surveyor of the number of gross square feet contained within the boundaries and a certification by the surveyor that the legal description of the property closes; (b) location of all improvements on the property; (c) the location of all utility and other easements of record on the date of the survey and a reference to their recording; (d) all applicable building setback lines, if any, and setback requirements and a certificate by the surveyor that no buildings encroach beyond said setback lines except as indicated thereon; (e) the surveyor's certificate identifying any encroachments upon the subject property by adjoining property owners and any encroachments of the subject improvements upon other property not to be conveyed hereunder; (f) explanation of discrepancies between the survey and the recorded legal description; (g) an identification of any portion of the property within a 100 year flood plain or flood hazardous area designated by governmental authority; and (h) identification of all underground storage tanks that the surveyor can locate by an on-the-ground inspection of the property.
Conveyance and Transfer of Owned Real Property. (a) At the Closing, Seller shall deliver a registrable Memorandum of Transfer and the Certificates of Title and other documents necessary subject to stamping and registration to transfer legal and beneficial ownership to the Owned Real Property with good and marketable title, free and clear of all Encumbrances except for Permitted Encumbrances and other matters described in the Disclosure Schedules.
Conveyance and Transfer of Owned Real Property. (a) Not less than ten (10) days prior to Closing, Sellers shall deliver (i) a current binding commitment for the issuance of a standard fee owner's title insurance policy (the "Title Commitment") from a reputable title insurance company reasonably acceptable to Buyer, insuring title to each parcel of the Owned Real Property in Buyer as prospective fee owner, in an amount equal to the amount of the Purchase Price allocated to the Owned Real Property, and (ii) surveys (the "Surveys") of the Owned Real Property made by a registered land surveyor bearing a certificate addressed to Buyer and Buyer's title insurance company, signed by the surveyor, certifying that the Survey was actually made on the ground and that there are no encumbrances except as shown. At Closing, Sellers shall cause to be delivered to Buyer the final title insurance policy for the Owned Real Property dated as of the Closing Date issued in favor of Buyer. If a title policy cannot be issued at Closing, Sellers shall deliver to Buyer a marked-up unconditional binder for such insurance dated as of the Closing Date, in a form reasonably acceptable to Buyer. Sellers shall pay (i) all premiums and other expenses relating to such Title Commitment, Survey and title insurance policy including, without limitation, the title insurance premium, and (ii) all transfer taxes and recording fees payable by reason of the delivery or recording of the warranty deeds to the Owned Real Property.
Conveyance and Transfer of Owned Real Property. (a) Not less than fifteen (15) days prior to Closing, Seller shall deliver to Buyer surveys (the "Surveys") of the Owned Real Property made by a registered land surveyor bearing a certificate addressed to Buyer and Buyer's title insurance company, signed by the surveyor, certifying that the survey was actually made on the ground and that there are no Encumbrances reasonably capable of being shown on a physical survey except as shown on the surveys, and complying with the 1990 minimum detail requirements for ALTA/ACSM Land Title Surveys, or a lesser standard provided that Buyer's title insurance company accepts the Surveys for purposes of deleting any title exception for Survey matters.
