STATUS OF TITLE TO PROPERTY. At Closing, Seller shall convey the Property to Buyer by a recordable “Warranty Deed,” subject to the following (collectively, the “Permitted Exceptions”): (a) rights-of-way, rights, duties, obligations, agreements, limitations, covenants, conditions, easements, restrictions and other matters of record; (b) current real estate taxes not yet due and payable; (c) legal highways and public rights-of-way; (d) all matters that would be disclosed by an accurate survey or inspections of the Property; (e) zoning ordinances and other governmental restrictions affecting the Property; (f) and the matters set forth in Section 6.1. Seller shall pay and provide Buyer an updated Commitment for an Owner’s Policy of Title Insurance from the Title Company in the amount of the Purchase Price (the “Commitment”) on or before the later of 30 days from the Accepted Date, or 20 days after the completion of any Survey required pursuant to Section 4.3. If there is a simultaneous issuance of an ALTA Owner’s Policy and an ALTA Loan Policy, all charges and premiums for them shall be paid equally by the Seller and Buyer.
STATUS OF TITLE TO PROPERTY. At Closing, Seller shall convey the property to Buyer by a recordable “Personal Representative Deed”, subject to the following (collectively, the “Permitted Exceptions”): (a) rights-of-way, rights, duties, obligations, agreements, limitations, covenants, conditions, easements, restrictions and other matters of record;
STATUS OF TITLE TO PROPERTY. Buyer acknowledges that it has been provided with a copy of BN Expansion’s existing owner’s policy of title insurance insuring BN Expansion’s title to the Land (the “Prior Policy”) and a copy of Seller’s prior survey of the Land (the “Prior Survey”). Buyer shall, at Seller’s expense, order a title insurance commitment (the “Commitment”) from a national title insurer reasonably acceptable to Buyer. Buyer will accept subject to only the following (the “Permitted Exceptions”):
(a) Ad valorem real estate taxes for 2006 and subsequent years.
(b) All applicable zoning ordinances and regulations.
(c) Restrictions or matters appearing on the plat or otherwise common to the subdivision.
(d) Those matters as set forth in the Prior Policy and/or on Exhibit B attached hereto. Buyer may obtain, at Buyer’s expense, an update of the Prior Survey or a new survey (the “Survey”). The Survey shall show and certify: (i) the location of all improvements, if any, and easements and rights-of-way affecting the Land, (ii) the location of all roadways adjacent to the Land, and (iii) the exact net acreage of the Land excluding any areas dedicated, subject to or zoned for public rights of way or permanent access easements. Buyer shall have ten (10) days from receipt of the Commitment and the Survey within which to examine same. If the Commitment or Survey reflect matters, other than Permitted Exceptions, which result in title being defective, Buyer shall, no later than five (5) days following such thirty (30) day examination period, notify Seller in writing specifying the defect(s); provided that if Buyer fails to give Seller written notice of defect(s) before the expiration of said five (5) day period, the defects shown in the Commitment or Survey shall be deemed Permitted Exceptions and shall be waived as title objections to closing this transaction. Buyer may raise as additional objections, however, any title defects first shown by any subsequently delivered endorsements of the Commitment and/or recertifications of Survey. If Buyer has given Seller timely written notice of defect(s) and the defect(s) render the title other than as represented in this Agreement, Seller shall notify Buyer in writing as to whether Seller intends to cure any such title defects. Notwithstanding the foregoing, Seller agrees to remove by payment, bonding, or otherwise any mortgage or voluntary lien against the Property capable of removal by the payment of money or bonding. In the event that Seller elects...
STATUS OF TITLE TO PROPERTY. At Closing, Seller shall convey the Property to Buyer by a recordable Warranty Deed (the “Deed”), subject to the following (collectively, the “Permitted Exceptions”): (a) rights-of-way, rights, duties, obligations, agreements, limitations, covenants, conditions, easements, restrictions and other matters of record; (b) current real estate taxes not yet due and payable; (c) legal highways and public rights-of-way; (d) all matters that would be disclosed by an accurate survey or inspection of the Property; (e) zoning ordinances and other governmental restrictions affecting the Property; (f) and the matters set forth in Section 6.1. Seller shall provide to Buyer an updated Commitment for an Owner’s Policy of Title Insurance from the Title Company in the amount of the Purchase Price (the “Commitment”) on or before the later of thirty (30) days from the Effective Date, or twenty (20) days after the completion of any Survey required pursuant to Section 4.3.
STATUS OF TITLE TO PROPERTY. (a) State of Title. At Closing, Seller shall convey to Purchaser, or Purchaser’s permitted designee or assignee, the entire fee simple estate in and to the Premises by a recordable special warranty deed, subject only to: (i) those covenants, conditions and restrictions and other exceptions to title to the Property which are not disclosed by Purchaser to Seller as Unacceptable Title Matters pursuant to Paragraph 4(d) below (or implicitly approved by Purchaser not objecting to any such Unacceptable Title Matters during the Title Review Period [as defined in Paragraph 4(d) below] for the Property), (ii) the lien of general real estate taxes for the current year and subsequent years which are not yet due or payable, and (iii) the rights of the Tenant to occupy the Premises pursuant to the Lease (the above enumerated exceptions collectively referred to as the “Permitted Exceptions”).
STATUS OF TITLE TO PROPERTY. 4 HIMS lawfully possesses and will hold fee simple title in and to the Property until the transfer to Adamis, and the Mortgage is and will continue to be a first and prior lien on the Property.
STATUS OF TITLE TO PROPERTY. A. STATE OF TITLE. At the Closing, each Seller shall convey to Purchaser title to such Seller's Property free and clear of all liens, encumbrances and claims to the extent provided in Section 1(A) above by a recordable and insurable special warranty deed or an equivalent deed, subject only to: (i) those covenants, conditions and restrictions of record which are reviewed and approved by Purchaser pursuant to Section 4(C) below, (ii) rights of tenants under the Leases affecting such Property, as tenants only, (iii) the lien of general real estate taxes for the year in which the Closing occurs and subsequent years, not yet due or payable, and (iv) the Assumed Underlying Mortgages affecting such Property (the above enumerated exceptions being hereinafter collectively referred to as the "Permitted Exceptions"). At the Closing, each applicable Seller shall assign and convey to Purchaser the Z and R Bond Partnership Interests.
STATUS OF TITLE TO PROPERTY. Compliance. From the date hereof through the Closing (or any earlier expiration or termination of the Option as contemplated in Section 3), Xxxxx agrees not to grant or permit any Encumbrances (other than Permitted Encumbrances) against or on the Broad Street Property, not to transfer or convey (whether voluntarily or involuntarily) Xxxxx'x fee simple interest (or any portion thereof) in the Broad Street Property, and not to grant or create any leasehold interest or other similar interest in or regarding the Broad Street Property, in any case without the prior written consent of Xxxxxxxx. Furthermore, Xxxxx agrees to comply with each and every covenant and restriction of record and affecting the Broad Street Property.
STATUS OF TITLE TO PROPERTY. Compliance. From the date hereof through the Closing (or any earlier expiration or termination of the Option as contemplated in Section 3), Xxxxx agrees not to grant or permit any Encumbrances (other than Permitted Encumbrances) against or on the Fayetteville Road Property, not to transfer or convey (whether voluntarily or involuntarily) Xxxxx'x fee simple interest (or any portion thereof) in the Fayetteville Road Property, and not to grant or create any leasehold interest or other similar interest in or regarding the Fayetteville Road Property, in any case without the prior written consent of Xxxxxxxx. Furthermore, Xxxxx agrees to comply with each and every covenant and restriction of record and affecting the Fayetteville Road Property.
STATUS OF TITLE TO PROPERTY. Except as permitted under the Security Agreement, Borrower shall not create or permit to exist any lien, encumbrance or security interest in favor of any third party with respect to the Collateral and Borrower shall keep all Collateral free from any such lien or security interest other than those created in favor of Bank pursuant to the Loan Documents and liens for taxes not yet due and payable.
