Common use of Fee Simple Title Clause in Contracts

Fee Simple Title. Buyer shall obtain a certification of title, and Seller agrees to provide merchantable fee simple title to Buyer as of the date of recording of the deed, subject only to such liens and encumbrances as may be approved by Buyer. Buyer shall, within seven (7) days prior to closing, deliver such certificate to Seller. Seller shall, prior to closing, secure and file any and all lien releases as may be necessary in order to deliver merchantable fee simple title to Buyer. In the event that Seller is unable to secure such releases, Buyer shall be entitled to extend closing for up to thirty (30) days in order to secure and file releases, or Buyer, at its option, may utilize as much of the above-stated purchase price as is necessary to satisfy any and all such liens which encumber merchantable fee simple title.

Fee Simple Title. Buyer shall obtain a certification of title, and Seller Xxxxxx agrees to provide merchantable fee simple title to the Buyer as of the date of recording of the deed, subject only to such liens and encumbrances as may be approved by the Buyer. The Buyer shall, within seven (7) 14 days prior to closing, deliver such certificate to Seller. Seller shall, prior to closing, secure and file any and all lien releases as may be necessary in order to deliver merchantable fee simple title to the Buyer. In the event that Seller is unable to secure such releases, the Buyer shall be entitled to extend closing for up to thirty (30) days in order to secure and file releases, or the Buyer, at its option, may utilize as much of the above-stated purchase price Purchase Price as is necessary to satisfy any and all such liens which encumber merchantable fee simple title.