Survey and Title Insurance. The Lessee shall have delivered to the Lessor an ALTA/1992 (Urban) Survey of the Property (other than the Equipment located therein) prepared by a licensed surveyor and meeting the Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys as adopted by the American Land Title Association/American Society and American Congress on Surveying and Mapping in 1992 certified to the Lessor and the title company and otherwise in form reasonably acceptable to the Lessor and an ALTA owner's insurance policy covering the Property (other than any Equipment) in favor of the Lessor, and, at the option of Lessee, a leasehold policy in favor of the Lessee evidencing the Lessee's equitable ownership in the Property, each such policy to be dated as of the Acquisition Date and in an amount not less than the Property Cost and to be reasonably satisfactory to the Lessor with, to the extent available, comprehensive, zoning and mechanics liens' endorsements and such other endorsements reasonably requested by the Lessor.
Survey and Title Insurance. 7 6.01 Survey....................................................... 7 6.02
Survey and Title Insurance h. Within ten (10) business days of the Effective Date, Purchaser shall order a title commitment (“Title Commitment”) for an ALTA owner’s title insurance policy (“Title Policy”) issued by the Title Company in the amount of the Purchase Price.
i. Within three (3) business days of the Effective Date, Seller shall provide Purchaser with its existing survey of the Real Estate, if available. Purchaser will provide and pay for an updated or new ALTA survey of the Real Estate, as it deems necessary (“Survey”).
j. Purchaser shall have until the expiration of the Due Diligence Period in which to notify Seller of any title defects (“Defects”) disclosed by the Title Commitment or Survey. Any matter set forth in the Title Commitment and Survey not set forth in said notice shall be deemed to be a “Permitted Exception” to the title, and the Deed and Title Policy delivered at Closing may be subject thereto. If no such notice is given, it shall be deemed that Purchaser has agreed to accept the Real Estate subject to the matters shown in the Title Commitment and Survey, and this Agreement shall remain in full force and effect. Seller shall have 10 days from receipt of Purchaser’s notice (the “Cure Period”) in which to remedy the Defects or to obtain title insurance by the Title Company insuring over and against such Defects (the premium for which shall be paid by Seller) and provide evidence satisfactory to Purchaser thereof. If Seller fails to remedy such Defects or obtain such title insurance within the Cure Period, Purchaser shall have the option exercisable within 10 days after the expiration of Seller’s Cure Period to agree to accept a conveyance of title subject to such Defects, and proceed with this Agreement (in which event the Title Commitment and the Deed will be accepted subject to any such Defects as Permitted Exceptions) or, give written notice to Seller to terminate this Agreement, and thereafter no party hereto shall have any claims, rights, duties, obligations, or liabilities to another party hereto by virtue of this Agreement, except those which herein are expressly stated to survive any termination of this Agreement, and the Xxxxxxx Money and Extension Deposits shall be returned to Purchaser. If Purchaser makes no election it shall be deemed that Purchaser has agreed to accept title “as is” subject to the Defects, and this Agreement shall remain in full force and effect.
k. To the extent any defects, exceptions or encumbrances arise and appear on the Titl...
Survey and Title Insurance. The Partnership shall have delivered to Buyer the updated and recertified Survey pursuant to Section 12.4 below and the Title Policy.
Survey and Title Insurance. On or prior to the Closing Date, the -------------------------- Lessee shall have delivered (i) an ALTA/ACSM (1992)(Urban) Survey of the Property, including Table A numbers 1, 2, 3, 4, 6, 8, 9, 10 and 11, certified to the Lessor, the Participants and the title company and otherwise in form reasonably acceptable to the Participants, (ii) an ALTA (1992) owners title insurance policy with extended coverage over the general exceptions, insuring fee title in the Lessor to the Property, subject only to the Permitted Exceptions, (iii) an ALTA (1992) Loan Policy insuring the Agent that the Lien of the Mortgage is a first and primary lien in the Lessor's interest in the Master Lease and in the fee title to the Property, subject only to pending disbursements for construction and the Permitted Exceptions, and (iv) an ALTA (1992) Loan Policy insuring the Agent that the Lien of the Master Lease is a first and primary Lien in the Lessee's interest in the Property; such policies each in an amount not less than the estimated Property Cost and to be reasonably satisfactory to the Lessor, the Agent and the Participants with extended coverage, access, tax parcel, survey identicality, variable rate, future advances, usury, comprehensive, fraudulent conveyances, doing business, mechanics liens and zoning endorsements and such other endorsements as and to the extent available in such jurisdiction where the Property is located, if requested by the Agent.
Survey and Title Insurance. Buyer Domestic shall, at its sole cost and expense (but without derogating from Sellers’ representations and warranties and covenants under this Agreement), use its commercially reasonable efforts to obtain, as soon as possible, the Fort Worth Facility Survey and the Fort Worth Facility Title Insurance Policy.
Survey and Title Insurance. (a) Survey: Purchaser may, at its option and cost, cause to be prepared an on-the-ground boundary survey of the Property (herein referred to as the “Survey”). The metes and bounds or other legal description of the Property resulting from the Survey, if and as accepted by Purchaser, shall upon such acceptance supersede and replace the description of the Property set forth in Section 1 hereof for all purposes hereunder and shall be the description of the Property used in the Warranty Deed and Owner Policy of Title Insurance to be furnished hereunder.
Survey and Title Insurance. Buyer shall have procured (i) title insurance with respect to the Real Property (including easements, rights-of-way, conditions and restrictions of record), which insurance shall be subject only to Permitted Liens and such standard or other exceptions on the extended coverage ALTA Form (1992) title insurance policy as are reasonably acceptable to Buyer, from a nationally recognized title insurance company qualified to do business in California reasonably satisfactory to Buyer and Seller in an amount reasonably satisfactory to Buyer; and (ii) a recent survey, by a licensed surveyor selected by Buyer, of the Real Property, showing the boundaries, monuments, publicly dedicated access, easements and rights-of-way of record, improvements (including all Improvements) and encroachments, if any, and otherwise complying with ALTA- ASCM Land Title Survey requirements.
Survey and Title Insurance. On or prior to the Ground Lease Interest Acquisition Date, the Lessee shall have delivered (i) an ALTA/ACSM (1992)(Urban) Survey of the Property, including Table A numbers 1, 2, 3, 4, 6, 8, 9, 10 and 11, certified to the Lessor, the Indenture Trustee, the Participants and the title company and otherwise in form reasonably acceptable to the Participants, (ii) an ALTA (1992) owners title insurance policy with extended coverage over the general exceptions, insuring leasehold title in the Lessor to the Ground Lease and the Ground Lease Interest and fee title in the Lessor to the Improvements, subject only to the Permitted Exceptions, (iii) an ALTA (1992) Loan Policy insuring the Indenture Trustee that the Lien of the Mortgage is a first and primary lien in the Lessor's interest in the Lease, in the leasehold title to the Ground Lease Interest and in the fee title to the Improvements, subject only to pending disbursements for construction and the Permitted Exceptions, and (iv) an ALTA (1992) Loan Policy insuring the Indenture Trustee that the Lien of the Lease is a first and primary Lien in the Lessee's interest in the Property; such policies each in an amount not less than the estimated Property Cost and to be reasonably satisfactory to the Lessor, the Indenture Trustee and the Participants with extended coverage, access, tax parcel, survey identicality, variable rate, future advances, usury, comprehensive, fraudulent conveyances, doing business, mechanics liens and zoning endorsements and such other endorsements as and to the extent available in such jurisdiction where the Property is located, if requested by the Required Participants.
Survey and Title Insurance. The Lessee shall have delivered to the Lessor an ALTA/1992 (Urban) Survey of the Land included in such Property prepared by an independent, licensed registered public land surveyor and meeting the Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys as adopted by the American Land Title Association/American Society and American Congress on Surveying and Mapping in 1992 certified to the Lessor and the title company and otherwise in form reasonably acceptable to the Lessor and an ALTA owners or leasehold title insurance policy covering such Property in favor of the Lessor, such policy to be dated as of the Acquisition Date and in an amount not less than the aggregate Commitment of the Lessor with respect to such Property and to be reasonably satisfactory to the Lessor with an owner's comprehensive (ALTA 9) endorsement and a 3.0 zoning endorsement and such other endorsements requested by the Lessor to the extent available in the State where such Property is located.
