Failure to Deliver Clean Title at Closing. If Seller fails to eliminate any Unacceptable Exception by the Closing Date, then Buyer may, without limiting any of its otherwise available remedies, elect to either (a) accept title to the Property subject to such exceptions, (b) refuse to accept the Property and terminate this Agreement, in which case the Xxxxxxx Money shall be refunded to Buyer, or (c) extend the Closing Date for a period of thirty (30) days to provide Seller with additional time to remove such exceptions. If Buyer elects option (c) and at the end of the 30‐day period such exceptions have not been removed, Buyer may then elect to proceed in accordance with either option (a) or (b) described above. To the extent that an Unacceptable Exception is a monetary lien or financial obligation secured by the Property including but not limited to any farm and forest tax deferrals, the Title Company is hereby directed to pay off such lien or obligation to the extent that it can be satisfied by application of all or a portion of the Purchase Price delivered into escrow by Buyer at Closing.
Failure to Deliver Clean Title at Closing. If Seller fails to eliminate any Unacceptable Exception by the Closing Date, then the City may, without limiting any of its otherwise available remedies, elect to either (a) accept title to the Property Interest subject to such exceptions, (b) refuse to accept the Property Interest and terminate this Agreement, in which case the Xxxxxxx Money shall be refunded to the City, or (c) extend the Closing Date for a period of forty-five (45) days to provide Seller with additional time to remove such exceptions. If the City elects option (c) and at the end of the 45-day period such exceptions have not been removed, the City may then elect to proceed in accordance with either option (a) or (b) described above. To the extent that an Unacceptable Exception is a monetary lien or financial obligation secured by the Property, the Title Company is hereby directed to pay off such lien or obligation to the extent that it can be satisfied by application of all or a portion of the Purchase Price delivered into escrow by the City at Closing.
Failure to Deliver Clean Title at Closing. If Seller fails to eliminate any Unacceptable Exceptions on or before the Closing Date then Buyer may, without limiting any of its otherwise available remedies, elect to either (a) accept title to the Property subject to those exceptions, (b) refuse to accept the Property and terminate this Agreement, in which case the Xxxxxxx Money shall be promptly refunded to Buyer, or (c) extend the Closing Date for a period of thirty (30) days to provide Seller with additional time to remove such exceptions. If Buyer elects option (c) described in this paragraph and at the end of the 30- day period Seller has not removed the Unacceptable Exceptions, Buyer may then elect to proceed in accordance with either option (a) or (b) described above. To the extent an Unacceptable Exception is a monetary lien or financial obligation secured by the Property, Seller shall cause such monetary lien or financial obligation to be removed as an exception on the Title Report on or prior to the Closing Date.
Failure to Deliver Clean Title at Closing. If Seller fails to eliminate any Unacceptable Exceptions on or before the Closing Date then Buyer may, without limiting any of its otherwise available remedies, elect to either (a) accept the Easement subject to those exceptions, (b) refuse to accept the Easement and terminate this Agreement, in which case the Xxxxxxx Money shall be promptly refunded to Buyer, or (c) extend the Closing Date for a period of thirty (30) days to provide Seller with additional time to remove such exceptions. If Buyer elects option (c) described in this paragraph and at the end of the 30-day period Seller has not removed the Unacceptable Exceptions, Buyer may then elect to proceed in accordance with either option (a) or (b) described above.
