Common use of Delivery of Title Policy at Closing Clause in Contracts

Delivery of Title Policy at Closing. As a condition to Purchaser's obligation to close, the Title Company shall deliver to Purchaser at Closing an Alta form Owner's Policy of Title Insurance including zoning endorsement ("Title Policy"), issued by the Title Company dated concurrent with Closing, in the amount of the Purchase Price, insuring Purchaser as owner of fee simple title to the Real Estate, subject only to the Permitted Exceptions. Seller shall execute at Closing a customary Seller's mechanics and materialman's lien affidavit and a standard parties in possession affidavit, in such forms as the Title Company shall reasonably and customarily require for the issuance of an extended coverage endorsement over those items (except to the extent not caused by, through or under Seller) on the Title Policy. The Title Policy may be delivered after the Closing if at the Closing the Title Company issues a currently effective, duly executed "marked-up" Title Commitment with the Title Policy in the substance of the "marked-up" Title Commitment to be issued promptly after Closing. The premium for the Title Policy shall be paid by Seller, and Seller shall pay the cost of the Survey required hereunder. Purchaser shall have the right to negotiate endorsements to the Title Commitment during the Due Diligence Period , but Seller shall have no responsibility to have such endorsements included in the Title Policy and the premium for such endorsements shall be at Purchaser's expense.

Delivery of Title Policy at Closing. As a condition to Purchaser's Buyer’s obligation to close, purchase the Property shall be subject to and conditioned upon the Title Company shall deliver Company’s willingness to Purchaser at Closing issue, upon the sole condition of the payment of its regularly scheduled premium, an Alta form Owner's Policy TLTA Standard Coverage owner’s policy of Title Insurance including zoning endorsement title insurance ("the “Title Policy"”), issued by the Title Company dated concurrent with Closing, insuring Buyer in the amount of the Purchase Price, insuring Purchaser as owner of Price that fee simple title to the Real EstateProperty is vested in Buyer as of the Closing, subject only to the standard preprinted conditions and exceptions and the Permitted Exceptions. Seller shall execute at Closing a customary Seller's mechanics and materialman's lien affidavit and a standard parties in possession affidavit, in such forms as the Title Company shall reasonably and customarily require for the issuance of an extended coverage endorsement over those items (except to the extent not caused by, through or under Seller) on the Title Policy. The Title Policy may be delivered after the Closing if at the Closing the Title Company issues a currently effective, duly executed "marked-up" Title Commitment with the Title Policy in the substance of the "marked-up" Title Commitment to be issued promptly after Closing. The premium for the Title Policy shall be paid by Seller, and Seller shall pay the cost of the Survey required hereunder. Purchaser Buyer shall have the right to negotiate request that the Title Company issue TLTA Extended Coverage title insurance as part of the Title Policy together with such endorsements as Buyer may request as long as the issuance of such TLTA Extended Coverage with endorsements is not a condition precedent to the Closing (provided, however, the issuance of such TLTA Extended Coverage and/or endorsements shall be a condition precedent to Buyer’s obligation to purchase the Property if and only if Buyer obtained and delivered to Sellers prior to the end of the Inspection Period a pro forma policy and irrevocable commitment to issue such policy from the Title Company exhibiting the agreed-upon endorsements and survey matters in accordance with this Agreement, without any obligation on Sellers’ part to execute any affidavits, certificates or other documents or incur any expense or liability as a condition to issuance of such endorsements, other than a standard Owner’s affidavit reasonably approved by Sellers). Buyer shall pay for all costs of such TLTA Extended Coverage in excess of TLTA Standard Coverage, and the costs of all such endorsements requested by Buyer (other than the cost of those endorsements to effect the cure or elimination of any Title Commitment during Objection to be cured or eliminated by Sellers as designated in Sellers’ Title Notice, which cost shall be paid for by Sellers). In the Due Diligence Period event of any failure of such condition in this Section 5.5, but Seller Buyer shall have the right to terminate this Agreement, in which case the Non-Refundable Xxxxxxx Money shall be paid to Sellers, the balance of the Xxxxxxx Money shall be returned to Buyer as provided in Section 3.3 and the parties hereto shall have no responsibility to have such endorsements included in further rights or obligations, other than those that by their terms survive the Title Policy and the premium for such endorsements shall be at Purchaser's expensetermination of this Agreement.

Delivery of Title Policy at Closing. As a condition to Purchaser's ’s obligation to close, the Title Company Escrow Agent shall deliver to Purchaser at Closing an Alta ALTA Form B (or other form required by state law) Owner's ’s Policy of Title Insurance including zoning endorsement ("the “Title Policy"”), with extended coverage (i.e., with ALTA General Exceptions 1 through 5 deleted, or with corresponding deletions if the Property is located in a non-ALTA state), issued by the Title Company dated concurrent with Closingas of the date and time of the recording of the Deed, in the amount of the Purchase Price, containing the Purchaser’s Endorsements, insuring Purchaser as owner of good, marketable and indefeasible fee simple title to the Real EstateProperty, and subject only to the Permitted Exceptions. “Purchaser’s Endorsements” shall mean, to the extent such endorsements are available under the laws of the state in which the Property is located: (a) owner’s comprehensive; (b) access; (c) survey (accuracy of survey); (d) location (survey legal matches title legal); (e) separate tax lot; (f) legal lot; (g) zoning 3.1, with parking; and (h) such other endorsements as Purchaser may require based on its review of the Title Commitment and Survey which Title Company agrees to issue prior to the end of the Due Diligence Period. Seller shall execute at Closing a customary Seller's mechanics and materialman's lien an owner’s affidavit and a standard parties in possession affidavit, in such forms form as the Title Company shall reasonably and customarily require for the issuance of an extended coverage endorsement over those items (except to the extent not caused by, through or under Seller) on the Title Policy. The Title Policy may be delivered after the Closing if at the Closing the Title Company issues a currently effective, duly duly-executed "“marked-up" ” Title Commitment with and irrevocably commits in writing to issue the Title Policy in the substance form of the "“marked-up" ” Title Commitment to be issued promptly after Closing. The premium for the Title Policy shall be paid by Seller, and Seller shall pay the cost of the Survey required hereunder. Purchaser shall have the right to negotiate endorsements to the Title Commitment during the Due Diligence Period , but Seller shall have no responsibility to have such endorsements included in the Title Policy and the premium for such endorsements shall be at Purchaser's expenseClosing Date.

Delivery of Title Policy at Closing. As a condition to Purchaser's ----------------------------------- obligation to close, the Title Company Escrow Agent shall deliver to Purchaser at Closing an Alta ALTA Form B (or other form required by state law) Owner's Policy of Title Insurance including zoning endorsement (the "Title Policy"), with extended coverage (i.e., with ALTA General ------------ Exceptions 1 through 5 deleted, or with corresponding deletions if the Property is located in a non-ALTA state), issued by the Title Company dated concurrent with Closingas of the date and time of the recording of the Deed, in the amount of the Purchase Price, containing Purchaser's Endorsements (as defined below), insuring Purchaser as owner of good, marketable and indefeasible fee simple title to the Real EstateProperty, and subject only to the Permitted Exceptions. "Purchaser's Endorsements" shall mean, ------------------------ such endorsements as Purchaser may request and the Title Company approve prior to the expiration of the Due Diligence Period, and which are itemized in a letter signed by both the Title Company and Purchaser and delivered to Seller prior to the expiration of the Due Diligence Period or are evidenced in a revised commitment or pro forma title policy issued by the Title Company and delivered to Seller prior to the expiration of the Due Diligence Period accompanied by written confirmation that Purchaser is satisfied with same. To the extent required by the Title Company as a condition or requirement to issuance of the Title Policy, Seller shall execute at Closing a customary Seller's mechanics and materialman's lien affidavit and a standard parties in possession affidavit, in such forms as deliver to the Title Company shall an affidavit in a form reasonably acceptable to Seller and customarily require for the issuance of an extended coverage endorsement over those items (except to the extent not caused by, through or under Seller) on the Title PolicyCompany. The Title Policy may be delivered after the Closing if at the Closing the Title Company issues a currently effective, duly duly-executed "marked-up" Title Commitment with and irrevocably commits in writing to issue the Title Policy in the substance form of the "marked-up" Title Commitment to be issued promptly after Closing. The premium for the Title Policy shall be paid by Seller, and Seller shall pay the cost of the Survey required hereunder. Purchaser shall have the right to negotiate endorsements to the Title Commitment during the Due Diligence Period , but Seller shall have no responsibility to have such endorsements included in the Title Policy and the premium for such endorsements shall be at Purchaser's expenseClosing Date.

Delivery of Title Policy at Closing. As a condition to Purchaser's obligation to close, the Title Company shall deliver to Purchaser at Closing an Alta form Owner's Policy of Title Insurance including zoning endorsement ("Title Policy"), issued by the Title Company dated concurrent with Closing, in the amount of the Purchase Price, insuring Purchaser as owner of fee simple title to the Real Estate, subject only to the Permitted Exceptions. Seller shall execute at Closing a customary Seller's mechanics and materialman's lien affidavit and a standard parties in possession affidavit, ALTA Statement in such forms form as the Title Company shall reasonably and customarily require for the issuance of an extended coverage endorsement over those items (except to the extent not caused by, through or under Seller) on the Title Policyrequire. The Title Policy may be delivered after the Closing if at the Closing the Title title Company issues a currently effective, duly executed "marked-up" Title Commitment with the Title Policy in the substance of the "marked-up" Title Commitment to be issued promptly after Closing. The premium for the Title Policy shall be paid by Seller, and Seller shall pay the cost of the Survey required hereunder. Purchaser shall have the right to negotiate endorsements to the Title Commitment during the Due Diligence Period , but Seller shall have no responsibility to have such endorsements included in the Title Policy and the premium for such endorsements shall be at Purchaser's expense.

Delivery of Title Policy at Closing. As a condition to Purchaser's ’s obligation to close, the Title Company shall deliver to Purchaser at Closing an Alta a Texas standard form Owner's ’s Policy of Title Insurance including zoning endorsement ("the “Title Policy"), ”) issued by the Title Company dated concurrent with Closingas of the date and time of the recording of the Deed, in the amount of the Purchase Price, insuring Purchaser as owner of indefeasible fee simple title to the Real EstateProperty, and subject only to the Permitted ExceptionsEncumbrances. Seller shall execute at Closing a customary Seller's mechanics and materialman's lien ’s standard owner’s affidavit and a standard parties in possession affidavit, in such forms as the Title Company shall reasonably and customarily require for to facilitate the issuance of an extended coverage endorsement over those items (except to the extent not caused by, through or under Seller) on the Title PolicyPolicy (but not additional matters required for any endorsements required by Purchaser). The Title Policy may be delivered after the Closing if at the Closing the Title Company issues a currently effective, duly duly-executed "“marked-up" ” Title Commitment with and irrevocably commits in writing to issue the Title Policy in the substance form of the "“marked-up" ” Title Commitment to be issued promptly after Closingthe Closing Date. The premium for Notwithstanding anything stated to the contrary in this Section 3.6 or elsewhere in this Agreement, if Purchaser delivers to Seller a form of title commitment in the form promulgated by the Texas Department of Insurance acceptable to Purchaser prior to the Approval Date that does not set forth any requirements inconsistent with the terms of this Agreement, then the form of Title Policy that shall be paid by delivered to Purchaser as provided in this Agreement shall be the form of title policy provided for in such title commitment delivered to Seller, and Seller shall pay together with all endorsements authorized by the cost Texas Department of the Survey required hereunderInsurance attached thereto. Purchaser shall have the right may elect to negotiate obtain additional coverage or endorsements to the Title Commitment during the Due Diligence Period , Policy at Purchaser’s sole cost and expense but Seller shall have no responsibility to have obtaining such endorsements included in the Title Policy and the premium for such additional coverage or endorsements shall not be at a condition precedent to Purchaser's expense’s Closing obligations under this Agreement.

Delivery of Title Policy at Closing. As a condition to Purchaser's ’s obligation to close, the Title Company shall deliver to Purchaser at Closing an Alta form a 2006 ALTA Form Owner's ’s Policy of Title Insurance including zoning endorsement Insurance, with “extended coverage” over mechanics liens and claims and matters arising during the “gap” period and containing such endorsements thereto as Purchaser may require and the Title Company has committed to issue prior to the Effective Date ("collectively, the “Title Policy"), ”) issued by the Title Company dated concurrent with Closingas of the date and time of the recording of the Deed, in the amount of the Purchase Price, and in the form attached hereto as Exhibit 3.6 insuring Purchaser as owner of indefeasible fee simple title to the Real EstateProperty, subject only to the Permitted ExceptionsEncumbrances. Seller shall execute at Closing a customary Seller's mechanics and materialman's lien an owner’s affidavit and a standard parties in possession affidavit, in such forms as gap indemnity reasonably acceptable to the Title Company shall reasonably and customarily require for to facilitate the issuance of an extended coverage endorsement over those items (except to the extent not caused by, through or under Seller) on the Title PolicyPolicy (“Owner’s Affidavit”), and shall deliver such other documents (including but not limited to Seller’s organizational documents, a good standing certificate and authorizing resolutions) reasonably as required by the Title Company. The Title Policy may be delivered after the Closing if at the Closing the Title Company issues a currently effective, duly duly-executed "“marked-up" ” Title Commitment with and irrevocably commits in writing to issue the Title Policy in the substance form of the "“marked-up" ” Title Commitment to be issued promptly after Closing. The premium for the Title Policy shall be paid by Seller, and Seller shall pay the cost of the Survey required hereunder. Purchaser shall have the right to negotiate endorsements to the Title Commitment during the Due Diligence Period , but Seller shall have no responsibility to have such endorsements included in the Title Policy and the premium for such endorsements shall be at Purchaser's expenseClosing Date.

Delivery of Title Policy at Closing. As a condition to Purchaser's ’s obligation to close, the Title Company shall deliver to Purchaser at Closing an Alta form ALTA Owner's ’s Policy of Title Insurance including zoning endorsement ("the “Title Policy"), ”) issued by the Title Company dated concurrent with Closingas of the date and time of the recording of the Deed, in the amount of the Purchase Price, insuring Purchaser as owner of fee simple title to the Real EstateProperty, and subject only to the Permitted ExceptionsEncumbrances. Seller shall execute at Closing a customary Seller's mechanics and materialman's lien affidavit and a standard parties in possession affidavit, in such forms as deliver to the Title Company shall at Closing such affidavits and agreements (in form reasonably and customarily require for acceptable to Seller) to facilitate the issuance of an extended coverage endorsement over those items the Title Policy (but not additional matters required for any endorsements required by Purchaser, except in connection with any title or survey objection which Seller elects or is required to cure pursuant to the extent not caused by, through or under Seller) on the Title Policyterms hereof). The Title Policy may be delivered after the Closing if at the Closing the Title Company issues a currently effective, duly duly-executed "“marked-up" ” Title Commitment with and irrevocably commits in writing to issue the Title Policy in the substance form of the "“marked-up" ” Title Commitment to be issued promptly after Closing. The premium for the Title Policy shall be paid by Seller, and Seller shall pay the cost of the Survey required hereunderClosing Date. Purchaser shall have the right may elect to negotiate obtain additional coverage or endorsements to the Title Commitment during the Due Diligence Period , Policy at Purchaser’s sole cost and expense but Seller shall have no responsibility to have obtaining such endorsements included in the Title Policy and the premium for such additional coverage or endorsements shall not be at a condition precedent to Purchaser's expense’s Closing obligations under this Agreement.