Common use of DEED ACKNOWLEDGEMENT Clause in Contracts

DEED ACKNOWLEDGEMENT. Buyer acknowledges that Seller is not yet the owner of the tract of ground which is the subject of this Agreement of Sale. Buyer further acknowledges that at settlement, the deed to Buyer may be from the legal owner of the property but that Buyer's dealings and contractual relationships regarding the construction of the Unit have solely been with Seller, and Buyer agrees to look solely to Seller for performance of this Agreement and agrees to indemnify and hold harmless the legal owner from any claim or cause of action arising out of the construction of the Unit contemplated herein including reasonable attorneys fees. The parties agree that if the legal owner is named as a defendant in any legal or equitable action relating to the sale of the property for construction of improvements other than an action based on the legal owner's failure to deliver a deed when both Buyer and Seller so direct, the parties so naming the legal owner as a party to such action shall reimburse legal owner for its actual and projected defense cost, including attorneys' fees.

DEED ACKNOWLEDGEMENT. Buyer acknowledges that Seller is not yet the owner of the tract of ground which is the subject of this Agreement of Sale. Buyer Xxxxx further acknowledges that at settlement, the deed to Buyer may be from the legal owner of the property but that BuyerXxxxx's dealings and contractual relationships regarding the construction of the Unit have solely been with Seller, and Buyer Xxxxx agrees to look solely to Seller for performance of this Agreement and agrees to indemnify and hold harmless the legal owner from any claim or cause of action arising out of the construction of the Unit contemplated herein including reasonable attorneys fees. The parties agree that if the legal owner is named as a defendant in any legal or equitable action relating to the sale of the property for construction of improvements other than an action based on the legal owner's failure to deliver a deed when both Buyer and Seller so direct, the parties so naming the legal owner as a party to such action shall reimburse legal owner for its actual and projected defense cost, including attorneys' fees.