Common use of Examination and Approval of Title Clause in Contracts

Examination and Approval of Title. It is understood and agreed that COUNTY is not obligated by the terms of this Agreement to provide PURCHASER with any evidence of title. PURCHASER reserves the right to secure such evidence of title as is satisfactory to PURCHASER and, at the expense of PURCHASER, cause an examination of such evidence of title to be performed prior to closing. It is understood and agreed that should such evidence of title or its examination reveal defects or deficiencies in the title to the Property that would render title to the Property unmarketable or uninsurable by a responsible title company at regular rates, then in such event, PURCHASER shall notify COUNTY of such defects or deficiencies, and COUNTY shall have the option of curing same and closing of this transaction shall be postponed until such deficiencies or defects are cured, but in no event shall closing be postponed for more than sixty (60) calendar days without the written consent of PURCHASER. In the event COUNTY elects not to attempt to cure such title defects or deficiencies, then it shall notify PURCHASER of such election within ten (10) business days after receipt of notice of such defect or deficiencies. In such event, PURCHASER shall have the option of either accepting title as it and paying the Purchase Price therefor, or, in the alternative, PURCHASER shall have the option of declaring this Agreement canceled by written notice to COUNTY, in which case COUNTY shall return the Deposit to PUCHASER and each party shall be relieved of any further obligations hereunder.

Examination and Approval of Title. It is understood and agreed that COUNTY is not obligated by the terms of this Agreement to provide PURCHASER with any evidence of title. PURCHASER reserves the right to secure such evidence of title as is satisfactory to PURCHASER and, at the expense of PURCHASER, cause an examination of such evidence of title to be performed prior to closing. It is understood and agreed that should such evidence of title or its examination reveal defects or deficiencies in the title to the Property that would render title to the Property unmarketable or uninsurable by a responsible title company at regular rates, then in such event, PURCHASER shall notify COUNTY of such defects or deficiencies, and COUNTY shall have the option of curing same and closing of this transaction shall be postponed until such deficiencies or defects are cured, but in no event shall closing be postponed for more than sixty (60) calendar days without the written consent of PURCHASER. In the event COUNTY elects not to attempt to cure such title defects or deficiencies, then it shall notify PURCHASER of such election within ten (10) business days after receipt of notice of such defect or deficiencies. In such event, PURCHASER shall have the option of either accepting title as it then is and paying the Purchase Price therefor, or, in the alternative, PURCHASER shall have the option of declaring this Agreement canceled by written notice to COUNTY, in which case COUNTY shall return the Deposit to PUCHASER and each party shall be relieved of any further obligations hereunder.