CURING TITLE DEFECTS Sample Clauses

CURING TITLE DEFECTS. Seller shall have until the expiration of the Financing Period, including any extension thereof, to cure all of the Title Defects which, in the opinion of Buyer or Buyer's counsel, make title to the Property unmarketable or uninsurable. Seller agrees to use due diligence, good faith and its best efforts in attempting to remove such Title Defects. Seller shall cure Title Defects in the nature of liens or judgments if they are capable of being paid or discharged by the payment of money or the posting of a bond. In the event Seller for any reason shall be unable to cure one or more of the Title Defects by the expiration of the Financing Period, including any extension thereof, or to convey to Buyer title to the Property at the Closing in accordance with the provisions of this Agreement, Buyer shall have the right, but not the obligation, to attempt to cure such Title Defects for an additional thirty (30) days after the expiration of the Financing Period, including any extension thereof. If, after the expiration of either period, as the case may be, the Title Defects cannot be cured, or if Seller is unable to convey to Buyer title to the Property at the Closing in accordance with the provisions of this Agreement, Buyer shall have the following rights: (i) to accept whatever title Seller is able to convey without any abatement or reduction in the Purchase Price, in which case Seller shall convey such title to Buyer, or (ii) to reject title. Buyer shall not be entitled to any other rights or remedies. If Buyer shall reject title under subsection (ii) above, this Agreement shall terminate, Buyer shall be entitled to a refund of the Deposit and interest accrued thereon, if any, and the parties shall be released of any and all liability to each other except for those obligations which specifically survive termination of this agreement. In the event Buyer proceeds to close, the exceptions set forth in Schedule B-II of the Title Commitment to which the Buyer has not filed a notice of Title Defect, or which Title Defects Buyer has waived, in writing, shall be collectively referred to as the "Permitted Exceptions." Termination pursuant to this Paragraph 10 shall also be deemed a termination of the Lakeview Agreement, and Escrow Agent shall return the Lakeview Deposit, plus accrued interest, if any, to Lakeview Buyer, the Lakeview Agreement shall be null and void and the parties shall be released of any and all liability to each other except for those obligations which ...
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CURING TITLE DEFECTS. If there are defects, Seller shall have a reasonable time, not to exceed 60 days to cure the defects. If Seller reasonably determines that it is not economically feasible to cure the defects, Seller may cancel this contract and refund Buyer’s xxxxxxx money; provided, Buyer may elect to waive the defects and close on the Property without reduction of the purchase price.
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CURING TITLE DEFECTS. Vendor shall diligently make reasonable efforts to cure or remove all Title Defects of which Purchaser has timely notified Vendor. If such Title Defects can not be cured by Vendor to the satisfaction of Purchaser within thirty (30) days of such notice, then Purchaser has ten (10) days to elect in writing to terminate this Agreement under Clause 17.1 and in that event Purchaser shall be released from all obligations, other than those specified in Article 8. Failure to timely deliver such written election to Vendor is a waiver of said Title Defect.
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CURING TITLE DEFECTS. Prior to the Closing Date, Vendor shall diligently make reasonable efforts to cure or remove all Title Defects of which Purchaser has notified Vendor.
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CURING TITLE DEFECTS. Seller shall have sixty (60) days ("Cure Period") from the receipt of the Title Objection Notice or the Survey Objection Notice to cure and remove Title Objections. Seller shall be obligated to and shall use diligent effort, including the bringing of necessary suits to cure and remove Title Objections that render title unmarketable by standards adopted under authority of the Florida Bar, under Florida Law (as modified by the terms of this Agreement) and the U.S. Department of Justice Standards and Regulations for the preparation of Title Evidence (1970) ("Marketability Defect"). Seller's obligation to cure Marketability Defects:
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CURING TITLE DEFECTS. Developer shall remove or cause to be removed of record or bonded or affirmatively insured or omitted as an exception to title by the Title Insurer, at or prior to Closing, any liens or encumbrances that can be removed by payment of a liquidated amount created or suffered by Developer against the School Unit, other than any lien or encumbrance consented to or occasioned (directly or indirectly) by SCA or that constitutes a Permitted Encumbrance. Developer shall have no other obligation to remove any liens, encumbrances or other title exceptions.
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CURING TITLE DEFECTS. In the event that the condition of title of the Property as set forth in the Title Commitment is not acceptable to Buyer, and Buyer gives the Title Notice to Seller, Seller shall, within five (5) days after receipt of the Title Notice, notify Buyer in writing (the “Seller’s Title Notice”) as to which of the Title Defects, if any, Seller, at Seller’s sole cost and expense, will undertake promptly to eliminate to the reasonable satisfaction of Buyer. In the event Seller elects not to eliminate all such Title Defects to the reasonable satisfaction of Buyer, or if Seller fails to respond to Buyer within such five (5) day period, then, in any of such events, Buyer shall, at its option, within three (3) days after the earlier of (i) receipt of Seller’s Title Notice or (ii) expiration of the five (5) day period if Seller has failed to respond, elect in writing either to (a) proceed to the applicable Closing subject to the Title Defects which Seller has not agreed to cure, in which event said objections shall be deemed to be waived for all purposes, or (b) terminate this Agreement by giving notice thereof to Seller and the parties hereto shall thereafter be relieved of any and all further rights, liabilities and obligations under this Agreement except to the extent that any right, obligation or liability set forth herein expressly survives termination of this Agreement. If Buyer does not notify Seller of its election within such three (3) day period, Buyer shall be deemed to have waived its objections and shall proceed to the applicable Closing subject to the Title Defects which Seller has not agreed to cure.
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CURING TITLE DEFECTS. Notwithstanding anything contained herein to the contrary, the Seller (a) shall pay off and satisfy and obtain the release of any liens,
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Related to CURING TITLE DEFECTS

  • Title Matters Seller agrees to share equally with Buyer the closing costs and the cost of a title insurance company's commitment for and policy of title insurance. Buyer shall pay for any lender’s/mortgagee’s/instrument holder’s title insurance coverage. The title insurance company will furnish a copy of the commitment for title insurance and copies of all of the exception documents referred to therein (hereafter collectively referred to as the “Title Commitment”) to Seller, Buyer, Buyer’s lender and the listing/selling broker as promptly as possible. The Title Commitment shall show a merchantable title vested in Seller, subject to easements, restrictions and protective covenants of record, right-of-way’s, setbacks, tenant rights, trees, fences, ordinances and regulations, unmatured and future assessments, restrictions and protective covenants of record, provided no forfeiture provisions as contained therein, encroachments and overlaps, zoning laws, ordinances and regulations, those exceptions which are standard to a policy of title insurance in the State of Kansas or as specified herein, and those matters attaching to the title by reason of Buyer taking title to the real property. Buyer shall have a period of five (5) days following receipt of the Title Commitment (the “Objection Period”) in which to examine the Title Commitment and advise Seller in writing of any objections ("Title Objections") the Buyer may have to Seller's title as shown in the Title Commitment. Seller shall then have a period of five (5) days in which to notify Buyer in writing of those Title Objections it elects to cure. In the event Seller elects to cure less than all of the Title Objections, Buyer shall have the right to terminate this Agreement by giving Seller written notice thereof within five (5) days of its receipt of Seller's notice, in which case the Xxxxxxx Money shall be returned to Buyer, and thereafter neither party shall have any further obligation hereunder. In the event Buyer does not terminate this Agreement, Seller shall have until Closing ("Cure Period") in which to cure the Title Objections the Seller has elected to cure, which the Buyer Agrees to extend for an additional 45 days in the event Seller has initiated a lawsuit to cure the title objection or objections. Title Objections may also be cured in accordance with applicable current titled standards in the Kansas Title Standards Handbook.

  • Latent Defects Notwithstanding anything to the contrary set forth herein, no acceptance, or deemed acceptance, by City pursuant to this Section shall be applicable with respect to any Latent Defects. An acceptance, or deemed acceptance, by City pursuant to this Section shall not mean that City has accepted, or the other party has been relieved of, responsibility for: (i) compliance with the Laws; (ii) the proper application of construction means or methods; or (iii) correcting any portion of the Project if it later is determined that any portion of the Project is inconsistent with the Final Documents and Drawings.

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