Conveyance to the Agency the Project and Title Insurance Clause Samples
This clause establishes the process by which ownership of the project property is formally transferred to the agency and outlines requirements related to the project's title insurance. It typically specifies the conditions under which conveyance occurs, the documentation required to prove clear title, and the type and amount of title insurance that must be provided to protect the agency’s interests. The core function of this clause is to ensure that the agency receives unencumbered ownership of the project and is protected against potential title defects or claims, thereby reducing legal and financial risks associated with the property transfer.
Conveyance to the Agency the Project and Title Insurance. 11 Section 2.1 The Deed 11 Section 2.2 The Project 12 Section 2.3 Title Insurance 13 Section 2.4 Limitation on Sales Tax Exemption 13 ARTICLE III LEASE OF FACILITY AND RENTAL PROVISIONS 17 Section 3.1 Lease of the Facility 17 Section 3.2 Duration of Term 17 Section 3.3 Rental Provisions 17 Section 3.4 Rental Payments Payable Absolutely Net 18 Section 3.5 Nature of Lessee’s Obligation Unconditional 18 Section 3.6 Assignment of Sublease Agreement 18 ARTICLE IV MAINTENANCE, TAXES, PAYMENTS IN LIEU OF TAXES AND INSURANCE 19 Section 4.1 Maintenance, Alterations and Improvements 19 Section 4.2 Removal of Property of the Facility 20 Section 4.3 Payment in Lieu of Real Estate Taxes. 22 Section 4.4 Taxes, Assessments and Charges 26 Section 4.5 Insurance 27 Section 4.6 Advances by Agency 29 Section 4.7 Compliance with Law 30 ARTICLE V DAMAGE, DESTRUCTION AND CONDEMNATION 31 Section 5.1 Damage, Destruction and Condemnation 31
Conveyance to the Agency the Project and Title Insurance. 11 Section 2.1 The Deed 11 Section 2.2 The Project 11 Section 2.3 Title Insurance 12 Section 2.4 Limitation on Sales Tax Exemption 13
Conveyance to the Agency the Project and Title Insurance