Common use of Evidence of Title Clause in Contracts

Evidence of Title. Seller shall deliver to Buyer a minimum of fifteen (15) days prior to Closing, a written commitment for title insurance in the amount of the purchase consideration disclosing merchantable title to the Real Estate in Seller, subject only to easements of record; taxes for 2021 and subsequent years; severed mineral ownership interests or leases granting the right to explore, mine or remove oil, gas or coal (all of Seller’s rights under any such leases will be assigned to Buyer, at Closing); the standard exceptions in title policies acceptable in the community; any liens which may be removed by Seller prior to or at closing; and acts done or suffered by or through Buyer; all of which matters shall not be deemed objections to Seller’s title (“Permitted Exceptions”). Buyer shall have ten (10) days after the delivery of a copy of the commitment to Buyer to cause said title commitment to be examined by an attorney and raise any title objections disclosed thereby which are not Permitted Exceptions. If there are such non- Permitted Exceptions, Buyer may terminate this Contract, receive a return of the xxxxxxx money and neither party shall have any further obligation to the other. After closing, Buyer shall be responsible for having the title policy issued. Seller shall pay all expenses relating to the title search, commitment for title insurance, and premiums for the Owner’s Policy insuring title in the Buyer in the amount of the Purchase Price. Buyer shall pay the costs of buyer’s search and exam additional premium(s) for any loan or mortgagee’s policy acquired for Buyer’s benefit, and any other extended coverage or endorsements requested by Buyer or Buyer’s Lender.

Evidence of Title. Seller shall deliver to Buyer a minimum of fifteen (15) days prior to Closing, a written commitment for title insurance in the amount of the purchase consideration disclosing merchantable title to the Real Estate in Seller, subject only to easements of record; taxes for 2021 and subsequent years; severed mineral ownership interests or leases granting the right to explore, mine or remove oil, gas or coal (all of Seller’s rights under any such leases will be assigned to Buyer, at Closing); the standard exceptions in title policies acceptable in the community; any liens which may be removed by Seller prior to or at closing; and acts done or suffered by or through Buyer; all of which matters shall not be deemed objections to Seller’s title (“Permitted Exceptions”). Buyer shall have ten (10) days after the delivery of a copy of the commitment to Buyer to cause said title commitment to be examined by an attorney and raise any title objections disclosed thereby which are not Permitted Exceptions. If there are such non- Permitted Exceptions, Buyer may terminate this Contract, receive a return of the xxxxxxx money and neither party shall have any further obligation to the other. After closing, Buyer Xxxxx shall be responsible for having the title policy issued. Seller shall pay all expenses relating to the title search, commitment for title insurance, and premiums for the Owner’s Policy insuring title in the Buyer in the amount of the Purchase Price. Buyer shall pay the costs of buyer’s search and exam additional premium(s) for any loan or mortgagee’s policy acquired for Buyer’s benefit, and any other extended coverage or endorsements requested by Buyer or BuyerXxxxx’s Lender.

Evidence of Title. Seller shall deliver to Buyer a minimum of fifteen (15) days prior to Closing, a written commitment for title insurance in the amount of the purchase consideration disclosing merchantable title to the Real Estate in Seller, subject only to easements of record; taxes for 2021 and subsequent years; severed mineral ownership interests or leases granting the right to explore, mine or remove oil, gas or coal (all of Seller’s ’ s rights under any such leases will be assigned to Buyer, at Closing); the standard exceptions in title policies acceptable in the community; any liens which may be removed by Seller prior to or at closing; and acts done or suffered by or through Buyer; all of which matters shall not be deemed objections to Seller’s ’ s title (““ Permitted Exceptions”” ). Buyer shall have ten (10) days after the delivery of a copy of the commitment to Buyer to cause said title commitment to be examined by an attorney and raise any title objections disclosed thereby which are not Permitted Exceptions. If there are such non- non-Permitted Exceptions, Buyer may terminate this Contract, receive a return of the xxxxxxx money and neither party shall have any further obligation to the other. After closing, Buyer shall be responsible for having the title policy issued. Seller shall pay all expenses relating to the title search, commitment for title insurance, and premiums for the Owner’s ’ s Policy insuring title in the Buyer in the amount of the Purchase Price. Buyer shall pay the costs of buyer’s ’ s search and exam additional premium(s) for any loan or mortgagee’s ’ s policy acquired for Buyer’s benefit, and any other extended coverage or endorsements requested by Buyer or Buyer’s ’ s Lender.

Evidence of Title. A. As evidence of title, as soon as possible after the date of this Agreement, Seller shall deliver agrees to Buyer obtain a minimum Commitment (the “Title Commitment”) for an A.L.T.A. fee owner’s policy of fifteen (15) days prior to Closing, a written commitment for title insurance in the amount of the purchase consideration disclosing merchantable title to the Real Estate in Seller, subject only to easements of record; taxes for 2021 and subsequent years; severed mineral ownership interests or leases granting the right to explore, mine or remove oil, gas or coal (all of Seller’s rights under any such leases will be assigned to Buyer, at Closing); the standard exceptions in title policies acceptable in the community; any liens which may be removed by Seller prior to or at closing; and acts done or suffered by or through Buyer; all of which matters shall not be deemed objections to Seller’s title (“Permitted Exceptions”). Buyer shall have ten (10) days after the delivery of a copy of the commitment to Buyer to cause said title commitment to be examined by an attorney and raise any title objections disclosed thereby which are not Permitted Exceptions. If there are such non- Permitted Exceptionsmarked up for Purchaser at Closing (with a final policy issued as soon as possible thereafter), Buyer may terminate this Contract, receive a return of the xxxxxxx money and neither party shall have any further obligation to the other. After closing, Buyer shall be responsible for having the title policy issued. Seller shall pay all expenses relating to the title search, commitment for title insurance, and premiums for the Owner’s Policy insuring title in the Buyer in the amount of the Purchase PricePrice and without standard exceptions (provided that Purchaser may elect to deliver any survey necessary to remove the standard exceptions relating to survey matters or such standard exceptions shall remain) which Title Commitment shall be issued by Escrow Agent, in its capacity as title agent (in such capacity, the “Title Company”), the same to bear a date later than the date hereof. Buyer In addition, Seller shall pay provide Purchaser with copies of any existing survey of the Subject Premises in Seller’s possession, if any (the “Existing Survey”). Seller shall, at the time of Closing, order a Policy of Title Insurance from the Title Company in the form required hereunder for delivery to Purchaser as soon thereafter as possible. The cost for the Title Commitment and all costs other than the base premium for the Title Policy to be issued in accordance with the terms of buyer’s search and exam additional premium(s) the Title Commitment shall be paid by Purchaser; provided, however, Seller shall be responsible for the payment of the base premium for the issuance of the Title Policy. Purchaser shall be solely responsible for payment of the cost of any loan or mortgagee’s policy acquired for Buyer’s benefittax report/certificate, and any other extended coverage or and all endorsements requested from the Title Company requested by Buyer Purchaser. Purchaser shall also be solely responsible for any and all costs associated with obtaining any updates to the Existing Survey or Buyer’s Lenderobtaining a new survey (the “New Survey”) of the Subject Premises. Purchaser shall have twenty-one (21) days after the Effective Date to obtain the New Survey if Purchaser elects to obtain a New Survey.

Evidence of Title. Seller shall deliver A. As evidence of Title, as soon as possible after the date of this Agreement, Purchaser agrees to Buyer obtain a minimum Commitment (the “Title Commitment”) for an A.L.T.A. fee owner’s policy of fifteen (15) days prior to Closing, a written commitment for title insurance in the amount of the purchase consideration disclosing merchantable title to the Real Estate in Seller, subject only to easements of record; taxes for 2021 and subsequent years; severed mineral ownership interests or leases granting the right to explore, mine or remove oil, gas or coal (all of Seller’s rights under any such leases will be assigned to Buyer, at Closing); the standard exceptions in title policies acceptable in the community; any liens which may be removed by Seller prior to or at closing; and acts done or suffered by or through Buyer; all of which matters shall not be deemed objections to Seller’s title (“Permitted Exceptions”). Buyer shall have ten (10) days after the delivery of a copy of the commitment to Buyer to cause said title commitment to be examined by an attorney and raise any title objections disclosed thereby which are not Permitted Exceptions. If there are such non- Permitted Exceptionsissued to Purchaser at Closing (or as soon as possible thereafter), Buyer may terminate this Contract, receive a return of the xxxxxxx money and neither party shall have any further obligation to the other. After closing, Buyer shall be responsible for having the title policy issued. Seller shall pay all expenses relating to the title search, commitment for title insurance, and premiums for the Owner’s Policy insuring title in the Buyer in the amount of the Purchase Price, which Commitment shall be issued by Fidelity National Title Insurance Company, whose address is 000 Xxxxxxxx Xxxxxxx XX, Xxxxx 0000, Xxxxxxx, XX 00000, Attn: Xxxx XxXxxxx (“Title Company”), the same to bear a date later than the date hereof, wherein said Title Company shall agree to insure the title in the condition required hereunder. Buyer Purchaser shall pay be responsible for the cost of the Title Commitment. In addition, Seller shall provide Purchaser with copies of its existing survey of the Subject Premises (the “Existing Survey”). Purchaser shall, at the time of Closing, order a Policy of Title Insurance from the Title Company pursuant to the Title Commitment for delivery to Purchaser as soon thereafter as possible, which Title Policy shall be issued without standard exceptions; provided, however, that the survey exception shall only be deleted if Purchaser has obtained and provides a new survey to the Title Company meeting the Title Company’s requirements for removing the survey exception. At Closing, the cost for the standard Policy of Title Insurance to be issued in accordance with the terms of the Title Commitment shall be paid by Purchaser and any closing costs charged by the Title Company shall be paid by Purchaser. Purchaser shall be solely responsible for payment of buyer’s search the cost of obtaining extended coverage under the Title Insurance Policy and exam additional premium(s) the cost of any and all endorsements requested from the Title Company and for any loan and all costs associated with title insurance requested from the Title Company for Purchaser’s lender. Purchaser shall also be solely responsible for any and all costs associated with obtaining any updates to the Existing Survey or mortgagee’s policy acquired for Buyer’s benefitobtaining a new survey of the Subject Premises (hereinafter, and any other extended coverage or endorsements requested by Buyer or Buyer’s Lenderthe “Updated Survey”).