Common use of Matters Relating to Real Property Clause in Contracts

Matters Relating to Real Property. (a) Seller has, at Seller's expense, delivered to Buyer a title insurance commitment issued on Attorneys' Title Insurance Fund, Inc. (the "Title Company") with respect to the Real Property in the aggregate amount of $2,000,000 (the "Title Commitment") and legible copies of all exceptions to the title contained in Schedule B-II of the Title Commitment. At Closing, the policy to be issued pursuant to the Title Commitment (the "Title Policy") shall be issued on an ALTA Owner's Policy of Title Insurance (10-17-92 Form), shall insure that Buyer has good, marketable and indefeasible title to such Real Property subject only to those Encumbrances accepted or deemed accepted by Buyer pursuant to paragraph (c) of this Section 6.7 ("Permitted Title Encumbrances"), and shall include such additional coverage and endorsements as Buyer may reasonably require, the cost of which shall be borne by Buyer (collectively the "Endorsements"). At Closing, provided the Title Company has received appropriate documentation from the Seller and a survey of the Real Property, the Title Company shall by endorsement delete the "gap" exception, all standard exceptions, and shall delete as having been satisfied all Schedule B-I requirements listed on the Title Commitment. Seller shall pay the costs for any title search and updates thereof relating to the issuance of the Title Commitment and the Title Policy, and shall pay the title insurance premium for the issuance of the Title Policy at the time of Closing. Seller shall at Closing deliver to the Title Company such affidavits, indemnities and other documentation as shall be reasonably necessary to enable the Title Company to issue the Title Policy and Endorsements, to delete the gap exception and the standard exceptions, and the Title Policy shall be issued subject only to the Permitted Title Encumbrances. Notwithstanding the foregoing, the cost of any Buyer requested Endorsements shall be paid by Buyer.

Matters Relating to Real Property. (a) Seller hasWithin five (5) days of the date of this Agreement, at Seller's expenseSellers shall provide Buyer with copies of all existing title abstracts, delivered to Buyer a title insurance commitment issued on Attorneys' Title Insurance Fund, Inc. (the "Title Company") policies and surveys it has in its possession with respect to the Specified Real Property. Buyer shall obtain a commitment from Monroe Title Insurance Corporation (the “Title Company”) for the issuance of an extended coverage owner’s policy of title insurance (including mechanics’ lien coverage) for all parcels included in the Specified Real Property in an amount determined by Buyer setting forth the aggregate amount status of $2,000,000 title to each such parcel (the "“Title Commitment") ”). The Title Commitment shall be accompanied by true, complete and legible copies of all exceptions to the title contained in Schedule B-II of the Title CommitmentEncumbrances identified therein. At Closing, the policy policies to be issued pursuant to the Title Commitment (the "“Title Policy"”) shall be issued on an ALTA Owner's Policy of Title Insurance (10-17-92 Form), shall insure that Buyer has good, marketable good and indefeasible insurable title in fee simple to such Specified Real Property Property, subject only to Permitted Encumbrances and those Encumbrances accepted or deemed accepted by Buyer pursuant to paragraph (cd) of this Section 6.7 6.14 ("“Permitted Title Encumbrances"”), and shall include such additional coverage coverages and endorsements as Buyer may reasonably require, the cost of which shall be borne by Buyer require (collectively the "“Endorsements"”). At the Closing, provided the Title Company has received appropriate documentation from the Seller and a survey of the Real Property, the Title Company shall by endorsement delete the "gap" exception, all standard exceptions, and shall delete as having been satisfied all Schedule B-I requirements listed on the Title Commitment. Seller Buyer shall pay the costs for any title search and updates thereof relating to the issuance of the Title Commitment and the Title Policy, and shall pay the title insurance premium all premiums for the issuance of the Title Policy at and the time of Closing. Seller Endorsements, and Creative Electric shall at Closing deliver to the Title Company such affidavits, indemnities and other documentation as shall be reasonably necessary to enable the Title Company to issue the Title Policy and Endorsements, to delete with the gap exception and the standard exceptions, and the Title Policy shall be issued Endorsements subject only to the Permitted Title Encumbrances. Notwithstanding the foregoing, the cost of any Buyer requested Endorsements shall be paid by Buyer.

Matters Relating to Real Property. (a) Seller hasBuyer shall obtain, at SellerBuyer's sole cost and expense, delivered except that Seller shall be responsible for the cost of the title search continuation work through the Closing Date, a commitment from Attorneys Title Insurance Fund or any other title insurance company acceptable to Buyer a title insurance commitment issued on Attorneys' Title Insurance Fund, Inc. (the "Title Company") with respect to for the issuance of an American Land Title Association ("ALTA") extended coverage owner's policy of title insurance (including mechanics' lien coverage) for each parcel included in the Medina Real Property in setting forth the aggregate amount status of $2,000,000 title to each such xxxxxx (individually a "Title Commitment" and collectively the "Title CommitmentCommitments") ). The Title Commitments shall be accompanied by true, complete and legible copies of all exceptions to the title contained in Schedule B-II of the Title CommitmentEncumbrances identified therein. At Closing, the policy policies to be issued pursuant to the Title Commitment Commitments (individually a "Title Policy" and collectively the "Title PolicyPolicies") shall be issued on an ALTA Owner's Policy of Title Insurance (10-17-92 Form), shall insure that Buyer the Corporation has good, marketable and indefeasible title to such the Medina Real Property Property, subject only to those Encumbrances accepted or deemed accepted by Buyer Xxxxx pursuant to paragraph subparagraph (c) of this Section 6.7 6.3 ("Permitted Title Encumbrances"), and shall include such the additional coverage coverages and endorsements as Buyer may reasonably require, the cost of which shall be borne by Buyer described in SCHEDULE 6.3 attached hereto (collectively the "Endorsements"). At the Closing, provided the Title Company has received appropriate documentation from the Seller and a survey of the Real Property, the Title Company shall by endorsement delete the "gap" exception, all standard exceptions, and shall delete as having been satisfied all Schedule B-I requirements listed on the Title Commitment. Seller shall pay the costs for any title search and updates thereof relating to the issuance of the Title Commitment and the Title Policy, and shall pay the title insurance premium for the issuance of the Title Policy at the time of Closing. Seller shall at Closing deliver to the Title Company such affidavits, indemnities affidavits (including an affidavit of title) and other documentation as shall be reasonably necessary to enable the Title Company to issue the Title Policy and Endorsements, to delete Policies with the gap exception and the standard exceptions, and the Title Policy shall be issued Endorsements subject only to the Permitted Title EncumbrancesEncumbrances and with a non-imputation endorsement reasonably acceptable to Buyer. Notwithstanding Buyer shall pay all fees and premiums incurred in the foregoing, issuance of the cost of any Buyer requested Endorsements shall be paid by BuyerTitle Policies.

Matters Relating to Real Property. (a) Seller has, at Seller's ’s expense, delivered to Buyer a title insurance commitment issued on Attorneys' ’ Title Insurance Fund, Inc. (the "“Title Company"”) with respect to the Real Property in the aggregate amount of $2,000,000 (the "“Title Commitment"”) and legible copies of all exceptions to the title contained in Schedule B-II of the Title Commitment. At Closing, the policy to be issued pursuant to the Title Commitment (the "“Title Policy"”) shall be issued on an ALTA Owner's ’s Policy of Title Insurance (10-17-92 Form), shall insure that Buyer has good, marketable and indefeasible title to such Real Property subject only to those Encumbrances accepted or deemed accepted by Buyer pursuant to paragraph (c) of this Section 6.7 ("“Permitted Title Encumbrances"”), and shall include such additional coverage and endorsements as Buyer may reasonably require, the cost of which shall be borne by Buyer (collectively the "“Endorsements"”). At Closing, provided the Title Company has received appropriate documentation from the Seller and a survey of the Real Property, the Title Company shall by endorsement delete the "“gap" ” exception, all standard exceptions, and shall delete as having been satisfied all Schedule B-I requirements listed on the Title Commitment. Seller shall pay the costs for any title search and updates thereof relating to the issuance of the Title Commitment and the Title Policy, and shall pay the title insurance premium for the issuance of the Title Policy at the time of Closing. Seller shall at Closing deliver to the Title Company such affidavits, indemnities and other documentation as shall be reasonably necessary to enable the Title Company to issue the Title Policy and Endorsements, to delete the gap exception and the standard exceptions, and the Title Policy shall be issued subject only to the Permitted Title Encumbrances. Notwithstanding the foregoing, the cost of any Buyer requested Endorsements shall be paid by Buyer.