Monetary Encumbrances. Property must be conveyed free and clear of all taxes, except the general taxes for the year 342 of closing. All monetary encumbrances (such as mortgages, deeds of trust, liens, financing statements) must be paid by Xxxxxx and 343 released except as Seller and buyer may otherwise agree. Existing monetary encumbrances are as follows:
Monetary Encumbrances. Property must be conveyed free and clear of all taxes, except the general taxes for the 338 340 342 347 Property: 348 None 349
Monetary Encumbrances. All monetary encumbrances, or ancillary documentation thereof, shall be automatically determined to be a disapproved exception that shall be removed by Seller at Seller’s sole cost as a condition to Closing.
Monetary Encumbrances. The property is transferred free of monetary encumbrances. The property is transferred free of monetary encumbrances, with the exception of the following mortgage deeds: ……………………………………………….. ……………………………………………….. Any monetary encumbrances which shall not remain on the property shall be deregistered for the account of the seller. The estate agent is authorised to obtain statements of outstanding debt and deregistration confirmations from the mortgagees in respect of the mortgages to be deregistered in connection with the closing. The seller confirms that there exist no monetary encumbrances of any type, including liens, apart from those shown in the transcript from the Register of Land Titles and Land Charges. The seller undertakes to immediately inform the estate agent if any lien proceedings are conducted prior to registration of the title deed. The seller also undertakes to pay all taxes, duties and fees, etc., relating to the property which have fallen due or will fall due prior to closing. The seller hereby irrevocably authorises the estate agent to discharge any monetary encumbrances which are set out in the certified transcript from the Register of Land Titles and Land Charges/closing specification and which it has not been agreed to pass on to the purchaser. RESERVATIONS CONCERNING THE STATE OF the property LIABILITY OF THE SELLER FOR DEFECTS The property is sold “as is” as at the time of the purchaser’s inspection, cf. Section 3-9 of the Sale of Real Estate Act. The property shall nonetheless be held to suffer a defect in the following circumstances: If the seller fails to perform his or her specific obligations under the present agreement. If the purchaser has not received information concerning matters relating to the property, of which the seller was aware or ought to have been aware, and which the purchaser had reason to expect that he or she would receive. However, this shall only apply if it can be assumed that the failure to disclose such information has affected the agreement, cf. Section 3-7 of the Sale of Real Estate Act. If the seller has provided incorrect information concerning the property. The same shall apply if the property is not in conformity with information provided in any advertisement, sales prospectus or other marketing on behalf of the seller. However, this shall only apply if it can be assumed that the failure to disclose such information has affected the agreement, and it has not been corrected in a clear and timely manner...
Monetary Encumbrances. Seller agrees that it shall, at or prior to the Closing, cause to be removed (i) any mortgages or other financings secured by the Property, (ii) delinquent taxes and assessments, (iii) judgment and mechanics liens encumbering the Property (except to the extent arising out of or related to the Buyer’s actions), and (iv) other monetary liens imposed upon the Property (except to the extent arising out of or related to the Buyer’s actions), whether or not shown on the Title Commitment (“Monetary Encumbrances”). Seller shall not hereafter voluntarily encumber the Property with any new encumbrances, including Monetary Encumbrances that shall continue in effect as of the Closing unless approved in writing by Buyer, which approval shall not be unreasonably withheld, conditioned or delayed to the extent such new encumbrance will affect the Larger Tract.
Monetary Encumbrances. Seller agrees to convey title to the Property to Buyer at Close of Escrow free and clear of all monetary liens and encumbrances.
Monetary Encumbrances. Mortgages, deeds of trust, security instruments, liens, judgments, or other monetary encumbrances against the Property, excepting those arising through Buyer.
Monetary Encumbrances. If Purchaser delivers a Title Objection Notice prior to the expiration of the Title Review Period with respect to any Title Objection that is a lien, mortgage, assignment of rents, financing statement, or other encumbrance created by or through Seller or any entity affiliated with Seller (and, without limiting the general application of the foregoing, judgment liens against Seller or any entity affiliated with Seller for liquidated amounts of money, mechanics' liens based on work or materials contracted for by Seller or any entity affiliated by Seller, and tax liens shall constitute encumbrances created by or through Seller, but any prejudgment or other attachment of the Property shall not) that secures the payment of money or can be bonded over (collectively, "Monetary Encumbrances" and each a "Monetary Encumbrance"), Seller shall notify Purchaser within ten (10) business days after receipt of such Title Objection Notice, either (1) that Seller has paid the amount necessary to remove all Monetary Encumbrances from the record title to the Property and will, on or prior to the Closing Date, obtain recordable instruments or other documentation sufficient to cause the Title Company to delete such matters from the Title Policy for no additional premium, or (ii) that Seller agrees to pay on the Closing Date the sum required to remove all Monetary Encumbrances from the record title to the Property (which sum may be paid out of the Purchase Price to be received at Closing), pursuant to arrangements reasonably acceptable to Seller and Purchaser, and will on the Closing Date, obtain recordable instruments or other documentation sufficient to cause the Title Company, for no additional premium, to delete all Monetary Encumbrances from the Title Policy. If Seller fails to notify Purchaser within such 10-day period, such failure shall constitute an election to proceed under clause (ii) in the preceding sentence. Notwithstanding the foregoing, in the event that Seller is unable with diligent efforts to obtain on or before Closing a recordable instrument to release or discharge any such Monetary Encumbrance or to otherwise provide such documentation and/or assurances as may be required by the Title Company for deletion of the exception(s) for any such Monetary Encumbrance from the Title Policy, Purchaser agrees to extend the date of Closing for up to an additional thirty (30) days to allow Seller additional time to obtain such recordable instrument. For the purposes of t...
Monetary Encumbrances. The phrase “monetary encumbrances or defects” as used herein means encumbrances or defects to title which by their terms require the payment of money, whether in installments or at a fixed time or otherwise, including, but not limited to, mortgages, deeds of trust, mechanic’s or materialmen’s liens, liens associated with public improvement districts and special assessments.
Monetary Encumbrances. Notwithstanding anything to the contrary contained herein and notwithstanding any approval or consent given by Buyer hereunder, Seller shall use good faith efforts to cause all mortgages, deeds of trust and other monetary encumbrances caused by Seller, including, without limitation, all mechanics' liens, but excluding non-delinquent real property taxes, to be released and reconveyed from the Property on or prior to the Closing Date.
