Delivery of Title Commitment and Survey. (a) Purchaser, at Purchaser’s sole cost and expense, shall obtain, within five (5) business days after the date of this Agreement, an ALTA Title Commitment for an Owner’s Policy of Title Insurance (a “Title Policy”) issued by Boston, Massachusetts National Accounts office of Lawyers Title Insurance Corporation (the “Title Company”), together with legible copies of any covenants, easements, and other items listed in the Title Commitment as exceptions to title to the Property. The Title Policy, when delivered, shall name Purchaser as insured, and shall be in the amount of the Purchase Price, insuring that Purchaser owns good and indefeasible fee simple title to the Property, subject only to the Permitted Exceptions. Seller shall also deliver to Purchaser, along with the other Review Documents noted in Section 4.2, (i) the most recently available as-built survey in Seller’s possession (“Survey”) of the Property, and (ii) an affidavit by Seller that there has been no material construction, demolition or modification to the property since the survey. If the Purchaser requires an update to the Survey, it shall be at Purchaser’s sole cost and expense.
(b) Purchaser shall have until the end of the Inspection Period within which to approve or disapprove the Title Commitment and the Survey, including the information reflected therein, such approvals or disapprovals to be within Purchaser’s sole discretion (any such disapproved item or matter herein referred to as a “Title Exception”). If Purchaser fails to disapprove any item or information contained in the Title Commitment or Survey by written notice delivered to Seller of Purchaser’s objection to such Title Exception(s) (a “Title Objection Notice”), prior to the expiration of the Inspection Period, Purchaser shall be deemed to have approved such Title Exception(s) and shall accept title to the Property as reflected in the Title Commitment and Survey, and subject to the Permitted Exceptions (as defined below). If Purchaser delivers a Title Objection Notice to Seller prior to the expiration of the Inspection Period, Seller shall have the right (without any obligation to do so) to cure or attempt to cure the Title Exception(s) referenced in Purchaser’s Title Objection Notice within ten (10) days after Purchaser’s delivery of the Title Objection Notice. In the event Seller is unable to cure or elects not to cure any one or more of the Title Exception(s) referenced in the Title Objection Notice, Seller may notify Purch...
Delivery of Title Commitment and Survey. Purchaser shall cause to be prepared: (i) a current, effective commitment for title insurance (the “Title Commitment”) issued by the Title Company, in the amount of the Purchase Price with Purchaser as the proposed insured, and accompanied by true, complete, and legible copies of all documents referred to in the Title Commitment; and (ii) a current ALTA-ACSM survey of the Property (the “Survey”), including a certification addressed to Purchaser in the form attached hereto as Exhibit B. Following execution of this Agreement, Purchaser may obtain copies of Uniform Commercial Code searches in the name of Seller and the Property issued by the Title Company or a search company acceptable to Purchaser (“UCC Searches”).
Delivery of Title Commitment and Survey. If not already provided, Seller and/or Purchaser shall request that Title Company cause to be prepared and delivered to Purchaser and its counsel (as well as to Seller and its counsel), as soon as reasonably practicable after the Effective Date, a commitment for title insurance or preliminary title report issued by Title Company (the “Title Commitment”), in the amount of the Purchase Price, with Purchaser as the proposed insured, accompanied by copies of all documents referred to in the Title Commitment. Seller has ordered a current ALTA-ACSM Urban survey of the Property (“Survey”) and shall provide a copy of said Survey to Purchaser upon Seller’s receipt of the Survey. If Purchaser elects to obtain the same, Purchaser shall order copies of Uniform Commercial Code searches in the name of Seller and the Property issued by the Title Company or a search company acceptable to Purchaser (“UCC Searches”).
Delivery of Title Commitment and Survey. Purchaser shall cause to be prepared (1) a current, effective commitment for title insurance (the "Title Commitment") issued by the Title Company, in the amount of the Purchase Price with Purchaser as the proposed insured, and accompanied by true, complete and legible copies of all documents referred to in the Title Commitment; (2) a current ALTA-ACSM Urban survey of the Property (the "Survey") prepared by a surveyor acceptable to Purchaser, including a certification addressed to Purchaser substantially in the form attached hereto as Exhibit D; and (3) copies of Uniform Commercial Code, judgment and tax lien searches in the name of Seller, any general partner, member or manager of Seller, and the Property issued by the Title Company or a search company acceptable to Purchaser ("UCC Searches"). The Title Commitment, the documents referred to therein, the Survey and the UCC Searches are referred to herein collectively as the "Title Documents."
Delivery of Title Commitment and Survey. Purchaser shall cause to be prepared: (i) a current, effective commitment for title insurance (the “Title Commitment”) issued by the Title Company, in the amount of the Purchase Price with Purchaser as the proposed insured, and accompanied by true, complete, and legible copies of all documents referred to in the Title Commitment; and (ii) a current ALTA-ACSM survey of the Property (the “Survey”), including a certification addressed to Purchaser in the form attached hereto as Exhibit B.
Delivery of Title Commitment and Survey. Purchaser shall cause to be prepared (and shall deliver copies to Seller and its counsel)
(i) a current, effective commitment for title insurance (the "Title Commitment") issued by the Title Company, in the amount of the Purchase Price with Purchaser as the proposed insured, and accompanied by true, complete, and legible copies of all documents referred to in the Title Commitments, (ii) a current ALTA-ACSM Urban survey of the Property (the "Survey"), including a certification addressed to Purchaser, in the form attached hereto as Exhibit D; and (iii) copies of Uniform Commercial Code searches in the name of Seller, any general partner or manager of Seller, and the Property issued by the Title Company or a search company acceptable to Purchaser ("UCC Searches").
Delivery of Title Commitment and Survey. Purchaser has caused to be prepared: (i) a current, effective commitment for title insurance (the “Title Commitment”) issued by the Title Company, in the amount of the Purchase Price with Purchaser as the proposed insured, and accompanied by true, complete, and legible copies of all documents referred to in the Title Commitment, a copy of which has been provided to Seller. Purchaser and Seller agree to jointly coordinate a current ALTA survey of the Property (the “Survey”), prepared by Rivanna Engineering & Surveying PLC, which Survey will be utilized as the Subdivision Plat for the Property. Seller will pay the cost of the Survey which would otherwise would have been charged to prepare a boundary line adjustment plat for the Property in a form suitable for obtaining the Subdivision Approval (including placing pins along property boundaries) and Purchaser shall pay any increase in the cost of the Survey attributable to compliance by the surveyor with Purchaser’s ALTA requirements.
Delivery of Title Commitment and Survey. Purchaser shall cause to be prepared (1) a current, effective commitment for title insurance (the "Title Commitment") issued by the Title Company, in the amount of the Purchase Price with Purchaser as the proposed insured, and accompanied by true, complete and legible copies of all documents referred to in the Title Commitment; and (2) copies of Uniform Commercial Code, judgment and tax lien searches in the name of Seller any general partner, member or manager of Seller, and the Property issued by the Title Company or a search company acceptable to Purchaser ("WCC Searches"). The Title Commitment, the documents referred to therein, the Survey and the UCC Searches are referred to herein collectively as the "Title Documents."
Delivery of Title Commitment and Survey. Within five (5) days of the Effective Date, Sellers shall deliver to Purchaser the following items:
Delivery of Title Commitment and Survey. Seller, at its sole cost and expense, shall obtain and deliver to Purchaser within ten (10) days after the Effective Date, a current, effective commitment for title insurance (the “Title Commitment”) issued by the Title Company, in the amount of the Purchase Price, naming Purchaser as the proposed insured, and accompanied by true, complete, and legible copies of all documents referred to in the Title Commitment. Within five (5) days following the Effective Date, Seller shall provide Purchaser with a copy of the on-the-ground survey of the Property dated December 19, 2012 and prepared by Bxxxx-Xxxxxxx & Associates, Inc. (Project No. 2201-3-001-20). Purchaser, at its sole cost and expense, shall obtain either a new survey of the Property or an update to the existing survey provided by Seller (the “New Survey”). If Purchaser elects to obtain a New Survey it must do so on or before the tenth (10th) business day following the Effective Date (the “New Survey Deadline”). Should Purchaser fail to obtain the New Survey by the New Survey Deadline Purchaser shall be deemed to have received the New Survey on such New Survey Deadline.
