Common use of Owner’s Title Policy Clause in Contracts

Owner’s Title Policy. Provided Purchaser approves, or is deemed to have approved, the status of title to a Property during the Title Review Period for such Property, Seller shall cause Title Company to provide Purchaser with a standard coverage owner's policy of title insurance (the "Owner's Title Policy") for such Property at the Closing or as soon thereafter as is reasonably possible. The Owner's Title Policy shall be issued by the Title Insurer in the full amount of the Purchase Price, be effective as of the Closing Date, and shall insure Purchaser that fee simple title to the Property described therein is vested in Purchaser, subject only (i) to the exceptions to title approved or deemed approved by Purchaser as provided for in Sections 4.2 and 4.3 of this Agreement (ii) any exceptions regarding survey matters; and (iii) any other matter approved in writing by Purchaser or resulting from the acts of Purchaser or Purchaser's agents. Purchaser shall pay in the cost of any endorsement to the Owner's Title Policy.