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. Notwithstanding any other provision of this Agreement, the Seller shall be obligated to cause, on or before the Closing Date, the Property to be released from all security deeds, mortgages, tax liens, financing statements and other liquidated financial encumbrances of any kind affecting Seller’s title to the Property incurred by, against or at the instance of the Seller, whether or not such matters were included in Purchaser’s Title Objection Notice (the “Monetary Encumbrances”). The Closing Agent shall withhold and disburse from the Purchase Price a sufficient amount to satisfy all such Monetary Encumbrances. Notwithstanding anything contained herein to the contrary, Seller shall not be obligated or compelled to cause the Property to be released from any Monetary Encumbrances if the sum total of the required payoffs exceed the Purchase Price and, in the event Seller elects not to release any such Monetary Encumbrances, Purchaser may elect in writing either to (i) proceed with Closing subject to such Monetary Encumbrances, which shall be deemed part of the Permitted Exceptions, or (ii) terminate this Agreement, in which event this Agreement shall become null and void, Purchaser’s Xxxxxxx Money shall be refunded (less the sum of TWO HUNDRED TWENTY-FIVE AND NO/100 DOLLARS ($225.00), which shall be paid to Seller in consideration for this Agreement), and, except as otherwise provided herein, neither Purchaser nor Seller shall have any further liability or obligations to the other hereunder.
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.
