OBJECTION TO TITLE. If Buyer raises valid written objection to Seller's title which means that the title to the property is unmarketable, Seller may cancel this contract by giving prompt written notice of cancellation to Buyer. However, if Seller gives written notice within five (5) days that Seller will cure the problem prior to the closing date, then this contract shall continue in force until the closing date, subject to Seller performing as promised. If Seller fails to cure the problem within such time, Buyer will not be obligated to purchase the property and any deposit shall be returned together with reimbursement for the reasonable cost of having the title examined.
OBJECTION TO TITLE. If Buyer raises a valid written objection to the Seller’s title which indicated that the title to the property is unmarketable, Seller may cancel this contract by given prompt written notice of cancellation to Buyer, and Buyer’s deposit shall be returned. However, if Seller is able to cure the title objection on or before the closing date, or if the title objection is insurable and Buyer is willing to accept insurable title, then this contract shall continue in force until the closing date, subject to the Seller curing the title objection and/or providing insurable title at the Seller’s expense. If Seller fails to cure the title objection on or before the closing date, or if Buyer is unwilling to accept insurable title, Buyer may cancel this contract by giving prompt written notice of cancellation to Seller, and Buyer’s deposit shall be returned.
OBJECTION TO TITLE. If the Purchaser shall raise objection to the Seller’s title which, if valid, would render the title unmarketable and which title insurance does not insure against, the Seller shall have the right to cancel this agreement by giving written notice of such cancellation to the Purchaser and shall repay to the Purchaser the deposit made hereunder and any costs incurred by Purchaser to a title company in settlement of Purchaser canceling a request for title insurance, whereupon all liability by reason of this agreement shall cease; provided, however, if the seller shall be able within a reasonable length of time to cure the objection, this contract shall remain and continue in full force and effect.
OBJECTION TO TITLE. All exceptions to title which are not objected to by Purchaser shall be deemed Permitted Exceptions. “Permitted Exceptions” shall mean the Land and Lease and all exceptions contained in the Title Commitment to which Purchaser does not object in writing prior to Closing, or as to which Purchaser has waived or is deemed to have waived its objection; provided, however, that the term Permitted Exceptions shall not include (i) any mortgages, deeds of trust or similar instruments; (ii) any taxes or assessments other than general real estate taxes for the year of Closing, not yet due and payable; or (iii) any monetary judgments, liens or encumbrances;.
OBJECTION TO TITLE. If the Commitment or any survey obtained by Purchaser as provided in subsection 8(f) below contains exceptions other than the Permitted Commitment Exceptions to which Purchaser objects, Purchaser shall notify Seller, in writing, no later than four (4) Business Days prior to the Due Diligence Expiration Date specifying the exceptions and title defects (the “Title Defects”), other than Permitted Commitment Exceptions, which exist with respect to the title to the Land (the “Title Notice”). Seller shall respond within two (2) Business Days of receipt of the Title Notice as to whether Seller elects to cure any of the Title Defects set forth in the Title Notice, either prior to or at Closing; provided, however, Seller shall be obligated in all events to cure (i) deeds of trust encumbering Seller’s interest in the Real Property, other than the Loan Security Documents, (ii) mechanics liens or judgment liens encumbering Seller’s interest in the Real Property unless bonded around by Seller, and (iii) matters affecting title to the Real Property entered into by Seller in violation of Section 8(c). If Seller fails to elect to cure any such Title Defects prior to or at Closing, then Purchaser may (i) elect to terminate this Agreement, whereupon the Exxxxxx Money Deposit shall be returned to Purchaser and all rights and liabilities arising hereunder shall automatically terminate, with the exception of the obligations which expressly survive termination of this Agreement, or (ii) elect to purchase the Property without a reduction in the Purchase Price and the matters objected to shall be deemed Permitted Exceptions.
OBJECTION TO TITLE. If BRE exercises its right of first offer set forth in Section 4.2 above, BRE shall have the right, at any time on or before thirty (30) days prior to closing, to object to any title matters which would have a material adverse effect on the use or value of the Sale Property. The City shall have until closing and shall use reasonable commercial efforts, but shall be under no obligation to incur any costs, to cause any such title objection to be cured or removed. In the event the City fails or refuses to so cause the cure or cause the removal of any such title objection, then BRE shall have the right not to close the proposed purchase, such election to be exercised at any time before closing; provided, however, that BRE shall have the right, at or before closing, to waive any objection to or defect in title to the Sale Property, and to close the proposed purchase.
