Common use of Failure to Correct Title Objections Clause in Contracts

Failure to Correct Title Objections. Except as hereinafter expressly provided in this Section 6.3, Seller shall have no obligation whatsoever to remove, satisfy, or otherwise cure, or to incur any expense in connection with the curing of any valid Title Objections of which Seller is notified by Buyer in accordance with Section 6.2. Seller shall notify Buyer within ten (10) days after Seller's receipt of written notice from Buyer of any Title Objections (the "Response Period") whether or not Seller agrees to take action to cause such Title Objections to be cured on or before the Closing Date although Seller shall not otherwise have any obligation to take any action to cure any Title Objections other than to release liens evidenced by mortgages, deeds of trust, financing statements, security interests and similar security instruments created by Seller (such instruments are collectively referred to herein as the "Secured Encumbrances"). Buyer acknowledges that a Title Objection shall be deemed cured if Escrow Holder agrees to issue its policy of title insurance with respect to the Property to Buyer without exception to such Title Objection. If Seller expressly agrees in writing to take action to cure any of such Title Objections pursuant to Buyer's notice, then Seller shall have assumed the obligation to take action to cure only such Title Objections as expressly set forth by Seller, but not other Title Objections, on or before the Closing Date. If Seller does not notify Buyer within the Response Period that it has agreed in writing to take action to cure Buyer's Title Objections, or if Seller thereafter fails to take any action to cure on or before the Closing Date any Title Objections made by Buyer pursuant to Section 6.2 in accordance with Seller's written agreement to take such action (which Closing Date shall, at Buyer's election, be extended for up to fifteen (15) additional days), Buyer may, as its sole remedy, elect by written notice to Seller on or before fifteen (15) days after the end of the Response Period (the "Title Election Deadline"), to do one of the following:

Failure to Correct Title Objections. Except as hereinafter expressly provided in this Section 6.3, Seller shall have no obligation whatsoever to remove, satisfy, or otherwise cure, or to incur any expense in connection with the curing of any valid Title Objections of which Seller is notified by Buyer in accordance with Section 6.2. Seller shall notify Buyer within ten (10) days after Seller's receipt of written notice from Buyer of any Title Objections (the "Response Period") whether or not Seller agrees to take action to cause such Title Objections to be cured on or before the Closing Date although Seller shall not otherwise have any obligation to take any action to cure any Title Objections other than to release liens evidenced by mortgages, deeds of trust, financing statements, security interests and similar security instruments created by Seller (such instruments are collectively referred to herein as the "Secured Encumbrances"). Buyer acknowledges that a Title Objection shall be deemed cured if Escrow Holder Title Company agrees to issue its policy of title insurance with respect to the Property to Buyer without exception to such Title Objection. If Seller expressly agrees in writing to take action to cure any of such Title Objections pursuant to Buyer's notice, then Seller shall have assumed the obligation to take action to cure only such Title Objections as expressly set forth by Seller, but not other Title Objections, on or before the Closing Date. If Seller does not notify Buyer within the Response Period that it has agreed in writing to take action to cure Buyer's Title Objections, or if Seller thereafter fails to take any action to cure on or before the Closing Date any Title Objections made by Buyer pursuant to Section 6.2 in accordance with pursuant to Seller's written agreement to take such action (which Closing Date shall, at Buyer's election, be extended for up to fifteen (15) additional days), Buyer may, as its sole remedy, elect by written notice to Seller on or before fifteen (15) days after the end of the Response Period (the "Title Election Deadline"), to do one of the following:

Failure to Correct Title Objections. Except as hereinafter expressly provided in this Section 6.3SECTION 5(b), Seller shall have no obligation whatsoever to remove, satisfy, or otherwise cure, or to incur any expense in connection with the curing of of, any valid Title Objections of which Seller is notified by Buyer in accordance with Section 6.2SECTION 5(a). Seller shall notify Buyer within ten five (105) days after Seller's receipt of written notice from Buyer of any Title Objections (the "Response Period") whether or not Seller agrees to take action to cause such Title Objections to be cured on or before the Closing Date Date; although Seller shall not otherwise have any obligation to take any action to cure any Title Objections other than to release liens evidenced by any judgment, mortgages, deeds of trust, liens, financing statements, security interests and similar security instruments created by Seller (such instruments are collectively referred to herein as the "Secured Security Encumbrances"). Buyer acknowledges that a Title Objection shall be deemed cured if Escrow Holder agrees Seller may use any portion of the Purchase Price due to issue its policy of title insurance with respect Seller to cure such Security Encumbrances at the Property to Buyer without exception to such Title ObjectionClosing. If Seller expressly agrees in writing to take action to cure any of such Title Objections (other than Security Encumbrances which Seller shall be required to cure) pursuant to Buyer's such notice, then Seller shall have assumed the obligation to take action diligently endeavor to cure only such Title Objections as expressly set forth by Seller, but not other Title Objections, on or before the Closing Date. If Seller does not notify Buyer within the Response Period in such five (5) day period that it has agreed in writing to take action to cure Buyer's Title Objections, or if Seller thereafter fails to take any action to satisfy or cure on or before the Closing Date any Security Encumbrances or any Title Objections made by Buyer pursuant to Section 6.2 SECTION 5(A) that Seller has expressly agreed in accordance with Seller's written agreement writing to take such action (which Closing Date shall, at Buyer's election, be extended for up to fifteen (15) additional days)cure, Buyer may, as its sole remedy, elect one of the following by written notice to Seller on or before fifteen the earlier of the Closing Date or the fifth (155th) days day after the end of such five (5) day period (or on the Response Period (Closing Date with respect to any Security Encumbrance or other Title Objection that Seller has agreed to cure and fails to satisfy or cure on or before the "Title Election Deadline"), to do one of the following:Closing Date):

Failure to Correct Title Objections. Except as hereinafter expressly provided in this Section 6.3, Seller shall have no obligation whatsoever to remove, satisfy, or otherwise cure, or to incur any expense in connection with the curing of any valid Title Objections of which Seller is notified by Buyer in accordance with Section 6.2. Seller shall notify Buyer within ten (10) days after Seller's receipt of written notice from Buyer of any Title Objections (the "Response Period") whether or not Seller agrees to take action to cause such Title Objections to be cured on or before the Closing Date although Seller shall not otherwise have any obligation to take any action to cure any Title Objections other than to release liens evidenced by mortgages, deeds of trust, financing statements, security interests and similar security instruments created by Seller (such instruments are collectively referred to herein as the "Secured Encumbrances"). Buyer acknowledges that a Title Objection shall be deemed cured if Escrow Holder agrees to issue its policy of title insurance with respect to the Property to Buyer without exception to such Title Objection. If Seller expressly agrees in writing to take action to cure any of such Title Objections pursuant to Buyer's notice, then Seller shall have assumed the obligation to take action to cure only such Title Objections as expressly set forth by Seller, but not other Title Objections, on or before the Closing Date. If Seller does not notify Buyer within the Response Period that it has agreed in writing to take action to cure Buyer's Title Objections, or if Seller thereafter fails to take any action to cure on or before the Closing Date any Title Objections made by Buyer pursuant to Section 6.2 in accordance with Seller's written agreement to take such action (which Closing Date shall, at Buyer's election, be extended for up to fifteen (15) additional days), Buyer may, as its sole remedy, elect by written notice to Seller on or before fifteen (15) days after the end of the Response Period (the "Title Election Deadline"), to do one of the following:

Failure to Correct Title Objections. Except as hereinafter expressly provided Seller shall within three (3) days after receipt of Purchaser’s notice of Title Objections, provide written notice to Purchaser of those Title Objections Seller elects to satisfy, cure or correct and the method for curing such ("Seller’s Title Response"). Upon receiving the Seller’s Title Response, in this Section 6.3the event Seller does not elect to satisfy, cure or correct all of Purchaser’s Title Objection’s Purchaser may elect, on or before the Inspection Date, to terminate the transaction or elect to have Seller satisfy, correct or cure those Title Objections that it has agreed to satisfy, cure or correct in Seller’s Title Response, if any, which shall be completed before Closing. Seller shall have no obligation whatsoever to remove, satisfy, cure or otherwise cure, or to incur any expense in connection with the curing of any valid Title Objections of which Seller is notified by Buyer in accordance with Section 6.2. Seller shall notify Buyer within ten (10) days after Seller's receipt of written notice from Buyer of correct any Title Objections except Mandatory Cure Objections (as hereinafter defined). In the "Response Period") whether or not Seller agrees to take action to cause such event that Purchaser provides notice of Title Objections and thereafter, Seller’s Title Response indicates that Seller is not willing or able to be cured on satisfy, cure or before the Closing Date although Seller shall not otherwise have any obligation to take any action to cure any Title Objections other than to release liens evidenced by mortgages, deeds of trust, financing statements, security interests and similar security instruments created by Seller (such instruments are collectively referred to herein as the "Secured Encumbrances"). Buyer acknowledges that a Title Objection shall be deemed cured if Escrow Holder agrees to issue its policy of title insurance with respect to the Property to Buyer without exception to such Title Objection. If Seller expressly agrees in writing to take action to cure correct any of such Title Objections pursuant to Buyer's noticeObjections, then Seller Purchaser shall have assumed the obligation right to take action to cure only such Title Objections as expressly set forth terminate this Agreement by Seller, but not other Title Objections, on or before the Closing Date. If Seller does not notify Buyer within the Response Period that it has agreed in writing to take action to cure Buyer's Title Objections, or if Seller thereafter fails to take any action to cure on or before the Closing Date any Title Objections made by Buyer pursuant to Section 6.2 in accordance with Seller's written agreement to take such action (which Closing Date shall, at Buyer's election, be extended for up to fifteen (15) additional days), Buyer may, as its sole remedy, elect by delivery of written notice to Seller on or before fifteen (15) days after the end Inspection Date, in which event Purchaser shall have as its sole remedy the return of the Response Period Xxxxxxx Money paid hereunder (together with all interest earned thereon). Notwithstanding the foregoing, Seller hereby covenants and agrees to cause to be released, satisfied, cured or removed from Purchaser’s title policy, prior to or simultaneously with the Closing, all "Title Election DeadlineMandatory Cure Objections," as hereinafter defined. For the purposes hereof, ")Mandatory Cure Objections" are any (1) deed to secure debt, to do one deed of trust, mortgage or similar security instrument given by Seller and encumbering all or any part of the following:Property, (2) any mechanics’ lien, ad valorem real or personal property taxes, assessments and governmental charges affecting all or any portion of the Property which are delinquent and were created by or through the Seller, or (3) any judgment of record against Seller in the county or other applicable jurisdiction in which the Property is located. Seller is responsible for all charges, costs and expenses incurred in satisfying the Mandatory Cure Objections.