Common use of Liens and Mortgages Clause in Contracts

Liens and Mortgages. The improvements shall not be subject to any mortgage, deed of trust, or other lien or encumbrance affecting title to the improvements or which appears on title pursuant to a title commitment of the land that cannot be satisfied out of the appraised value of the improvements or that the Department otherwise determines to be unacceptable or render continuing to public auction impracticable. The improvements shall be conveyed by a Bill of Sale, free of all liens and encumbrances, at the time of closing. No additional encumbrances or other adverse title conditions will be placed against the title to the improvements subsequent to the date of this Agreement.

Liens and Mortgages. The improvements shall not be subject to any mortgage, deed of trust, or other lien or encumbrance affecting title to the improvements or which appears on title pursuant to a title commitment of the land that cannot be satisfied out of the appraised value of the improvements or that the Department otherwise determines to be unacceptable or render continuing to public auction impracticable. The improvements shall be conveyed by a Bill Xxxx of Sale, free of all liens and encumbrances, at the time of closing. No additional encumbrances or other adverse title conditions will be placed against the title to the improvements subsequent to the date of this Agreement.