Common use of Seller’s Response Notices Clause in Contracts

Seller’s Response Notices. Seller shall be obligated to cure and remove the liens of any mortgage or deed of trust evidencing an indebtedness owed by Seller. Moreover, Seller shall be obligated to cure and remove all of the following classes of New Defects (“Mandatory Cure Items”), if any: (i) tax liens for delinquent ad valorem real estate taxes; (ii) mechanics liens pursuant to a written agreement either between (x) the claimant (the “Contract Claimant”) and Seller or its employees, officers or managing agents (the “Seller Parties”) or (y) the Contract Claimant and any other contractor, materialman or supplier with which Seller or the Seller Parties have a written agreement; and (iii) broker’s liens pursuant to a written agreement between the broker and Seller or any Seller Parties. Seller shall be permitted to cure Mandatory Cure Items that in the aggregate are for a liquidated amount of $50,000 or less by procuring title insurance on terms reasonably acceptable to Purchaser. Seller may elect, in its sole discretion, to cure and remove any Disclosed Exception identified by Purchaser in a Defect Notice by delivering written notice to Purchaser (a “Seller’s Response Notice”) indicating that Seller has elected to cure and remove any such matters (any such matters that Seller elects to cure and remove, “Seller Cure Items”) not later than the sooner to occur of (i) three (3) business days after Seller’s receipt of the applicable Defect Notice; or (ii)

Seller’s Response Notices. Seller shall be obligated to cure and remove the liens of any mortgage (or deed of trust evidencing an indebtedness owed by Seller. Moreover, Seller shall be obligated to cure and remove procure title insurance over) on or before Closing all of the following classes of New Defects and Disclosed Exceptions (“Mandatory Cure Items”), if any: (i) the liens of any mortgage, trust deed or deed of trust or other financing document evidencing or providing security for any indebtedness owed by Seller; (ii) tax liens for delinquent ad valorem real estate taxestaxes or assessments; (iiiii) mechanics liens pursuant to a written agreement either between (x) the claimant (the “Contract Claimant”) and Seller or its employees, officers or managing agents (the “Seller Parties”) or (y) the Contract Claimant and any other contractor, materialman or supplier with which Seller or the Seller Parties have a written agreement; and (iiiiv) broker’s liens pursuant to a written agreement between the broker and Seller or any Seller Parties. Seller shall be permitted In addition to cure the Mandatory Cure Items that in the aggregate are for a liquidated amount of $50,000 or less by procuring title insurance on terms reasonably acceptable to Purchaser. Items, Seller may elect, in its sole discretion, to cure and remove any Disclosed Exception or New Defect identified by Purchaser in a Defect Notice by delivering written notice to Purchaser (a “Seller’s Response Notice”) indicating that Seller has elected to cure and remove any such matters (any such matters that Seller elects to cure and remove, “Seller Cure Items”) not later than the sooner to occur of (i) three five (35) business days after Seller’s receipt of the applicable Defect Notice; or (ii)

Seller’s Response Notices. Seller shall be obligated to cure and remove the liens of any mortgage (or deed of trust evidencing an indebtedness owed by Seller. Moreover, Seller shall be obligated to cure and remove procure title insurance over) all of the following classes of New Defects and Disclosed Exceptions (“Mandatory Cure Items”), if any: (i) the liens of any mortgage, trust deed or deed of trust evidencing an indebtedness owed by Seller; (ii) tax liens for delinquent ad valorem real estate taxes; (iiiii) mechanics liens pursuant to a written agreement either between (x) the claimant (the “Contract Claimant”) and Seller or its employees, officers or managing agents (the “Seller Parties”) or (y) the Contract Claimant and any other contractor, materialman or supplier with which Seller or the Seller Parties have a written agreement; and (iiiiv) broker’s liens pursuant to a written agreement between the broker and Seller or any Seller Parties. Seller shall be permitted to cure Mandatory Cure Items that in the aggregate are for a liquidated amount of $50,000 or less by procuring title insurance on terms reasonably acceptable to Purchaser. Seller may elect, in its sole discretion, to cure and remove any Disclosed Exception or New Defect identified by Purchaser in a Defect Notice by delivering written notice to Purchaser (a “Seller’s Response Notice”) indicating that Seller has elected to cure and remove any such matters (any such matters that Seller elects to cure Agreement of Purchase and remove, “Seller Cure Items”) not later than the sooner to occur of (i) three (3) business days after Seller’s receipt of the applicable Defect Notice; or (iiSale — 1000 Xxxxxxxx Xxxxxx Xxxxx Xx. Prospect IL(7)

Seller’s Response Notices. Seller shall be obligated to cure and remove (or procure title insurance over) all of the following classes of New Defects and Disclosed Exceptions ("Mandatory Cure Items"), if any: (i) the liens of any mortgage mortgage, trust deed or deed of trust evidencing an indebtedness owed by Seller. Moreover, Seller shall be obligated to cure and remove all of the following classes of New Defects ; (“Mandatory Cure Items”), if any: (iii) tax liens for delinquent ad valorem real estate taxes; (iiiii) mechanics liens pursuant to a written agreement either between (x) the claimant (the “"Contract Claimant”") and Seller or its employees, officers or managing agents (the “"Seller Parties”") or (y) the Contract Claimant and any other contractor, materialman or supplier with which Seller or the Seller Parties have a written agreement; and (iiiiv) broker’s 's liens pursuant to a written agreement between the broker and Seller or any Seller Parties. Seller shall be permitted to cure Mandatory Cure Items that in the aggregate are for a liquidated amount of $50,000 or less by procuring title insurance on terms reasonably acceptable to Purchaser. Seller may elect, in its sole discretion, to cure and remove any Disclosed Exception or New Defect identified by Purchaser in a Defect Notice by delivering written notice to Purchaser (a “"Seller’s 's Response Notice”") indicating that Seller has elected to cure and remove any such matters (any such matters that Seller elects to cure and remove, “"Seller Cure Items”") not later than the sooner to occur of (i) three five (35) business days after Seller’s 's receipt of the applicable Defect Notice; or (ii)