Surveys and Title Insurance Sample Clauses

Surveys and Title Insurance. (a) Buyer shall have the right to obtain, and has obtained (except with respect to the Excepted Properties, as defined below) at Buyer’s sole expense, such instruments of survey of the Real Property certified to the Buyer and the Buyer’s lender(s) prepared by a licensed surveyor and conforming to current ALTA Minimum Detail Requirements for Land Title Surveys, disclosing the location of all improvements, easements, party walls, sidewalks, roadways, utility lines and other matters shown customarily on such surveys and showing access affirmatively to public streets and roads, as Buyer may elect to have prepared (“Surveys”), provided that such Surveys may be an update of any or all existing surveys which Sellers have delivered to Buyer. Buyer shall also have the right to obtain, and has obtained (except with respect to the Excepted Properties) at Buyer’s sole expense title insurance commitments (“Title Commitment”), issued by a title company selected by Buyer and the Buyer’s lender(s) (“Title Company”), committing to issue to Buyer (or the Buyer’s nominee) and to such lender(s) at Closing, upon the payment of a requisite premium at standard rates, standard form (i) leasehold owner’s and lender’s policies with respect to each of the Leased Real Properties and (ii) owner’s policies and lender’s policies with respect to each of the Owned Real Properties, in each case, insuring good, clear record and indefeasible title to the Real Property, with standard exceptions deleted and with such affirmative coverages as Buyer or its lender(s) may specify (“Title Insurance”). For purposes hereof, the “Excepted Properties” shall be defined as (x) the facility located at 0000 Xxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx, comprised of Parcels A, B-1 and B as shown on that certain Plan of Land in Agawam, MA prepared by Xxxxx & Xxxx surveyors dated January 17, 2005 and recorded with the Hampden Registry of Deeds at Book 336, Page 125, as described in Schedule 1.1(a) and Schedule 1.1(b), and (y) the facility located at 0000 Xxxxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxxxxx, as described in Schedule 1.1(a) and Schedule 1.1(b), and (z) the facility located at 00 Xxxxxxxxxx Xxxxx, Xxxxxx, Xxxxxxxxxxxxx, as described in Schedule 1.1(b). (b) Except with respect to the Excepted Properties, Schedule 1.11-A sets forth all Permitted Exceptions to title for the Real Property as of the date of the Title Commitments referenced therein. Except with respect to the Excepted Properties, Schedule 1.11-B set...
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Surveys and Title Insurance. At Buyer’s option and expense, Buyer may obtain insurance policies, effective as of the Closing Date, with extended coverage guaranteeing the standard exceptions to title customarily contained in such policies, covering the Owned Real Property issued by a nationally recognized title insurance company, insuring, as of the Closing Date, the fee simple title of Buyer the Owned Real Property, subject only to the Permitted Encumbrances, in an amount reasonably determined by Buyer. Seller shall cooperate reasonably and in good faith in Buyer’s efforts to obtain such policies of title insurance, including executing and delivering, or causing to be executed and delivered, to the title insurance company any affidavits reasonably requested by it or Buyer in connection with the issuance of the policies and to provide affirmative endorsements for no mechanics’ liens.
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Surveys and Title Insurance. Seller shall have delivered to Purchaser surveys of the Real Estate (excluding leasehold estates having a remaining term of less than five (5) years, including all renewal options) prepared by a registered or licensed engineer or surveyor in accordance with the American Land Title Association Standards and a commitment or commitments for title insurance for the benefit of Purchaser covering all of the Real Estate, insuring title to such Real Estate in a manner and in an amount satisfactory to Purchaser, with only those exceptions as Purchaser shall approve. The above-referenced surveys shall be currently dated, shall bear a proper certificate by the surveyor, which certificate shall include the legal description of the Real Estate and shall be made in favor of Purchaser and the title insurance company, and shall show the outline of the Real Estate, all buildings, structures, paving, driveways, fences and other improvements thereon, all easements, encroachments and other matters affecting the Real Estate, and the square footage or acreage of the Real Estate. The cost of obtaining such surveys and title insurance, commitments and all premiums with respect to the title insurance policies to be issued thereto, shall be paid by Purchaser.
Sample 1
Surveys and Title Insurance. (a) Within 10 days after the date of this Agreement, Seller shall cause to be delivered to Purchaser, at Seller's sole expense, a survey of the Real Property, prepared by a Texas registered 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, including Items 1, 2, 3, 4, 6, 7(a), 7(c), 8, 9, 00, 00, 00, 00 (xx xxxxxxxxxx), 00 (xx xxxlicable), and 17 of Table A thereof, with the certificate of such surveyor dated not earlier than the date hereof and running in favor of Purchaser. (b) Within 10 days after the date of this Agreement, Seller shall cause to be delivered to Purchaser, at Seller's expense, a commitment for a title insurance policy for the Real Property. (c) Purchaser shall disclose to Seller any exceptions to title which are not Permitted Exceptions ("Unpermitted Exceptions") no later than 10 days after receipt of the last of the surveys described in Section 6.8(a) and any required title endorsements. (d) Seller shall cure any Unpermitted Exceptions no later than 10 Business Days after Purchaser discloses Unpermitted Exceptions pursuant to Section 6.8(c). Pending such cure, the Closing shall be postponed to the extent necessary to accommodate such 10-Business Day time period. Upon such cure, the Closing shall be held on the later of (i) the previously scheduled Closing Date, and (ii) the second Business Day after the date such cure is completed (but in no event later than September 30, 2000 as set forth in Section 12.1). If such cure is not completed within such 10-day period, Purchaser shall have the option to terminate this Agreement or waive one or more of its objections and proceed to Closing. Notwithstanding the foregoing, if
Sample 1
Surveys and Title Insurance. The Company will deliver --------------------------- to the Collateral Agent not later than August 30, 2002 (or such later date as shall be agreed to by the Administrative Agent, but in any event no later than November 29, 2002): (i) one or more mortgagee policies of title insurance on forms of and issued by one or more title companies reasonably satisfactory to the Administrative Agent (the "Title Companies"), insuring the validity and --------------- priority of the Liens created under the Mortgages in the amount of $10,000,000 per Mortgaged Facility, subject only to such exceptions to title as are reasonably satisfactory to the Administrative Agent (such exceptions to include a $55,000,000 mechanic's lien on the Company's facility located in Alvin, Texas); and (ii) surveys for each of the Mortgaged Facilities reasonably satisfactory to the Administrative Agent but in any event in such form as shall permit the Title Companies to remove the general survey exception, and to provide such additional title insurance coverages and endorsements (but not increases in the dollar amount of coverage in excess of that specified in clause (i) above) as the Administrative Agent may reasonably request, for the respective title policy for such Mortgaged Facility, and from a registered surveyor reasonably satisfactory to the Administrative Agent, in each case certified to the Administrative Agent, each Lender, the Collateral Agent, the Collateral Trustee and the Title Companies. In addition, within such time frame, the Company shall have paid to the Title Companies (x) all expenses and premiums of the Title Companies in connection with the issuance of such policies and (y) an amount equal to the recording and stamp taxes payable in connection with recording the Mortgages in the appropriate county land office(s).
Sample 1

Related to Surveys and Title Insurance

  • Title Insurance The Mortgage Loan is covered by an ALTA lender's title insurance policy (which, in the case of an Adjustable Rate Mortgage Loan has an adjustable rate mortgage endorsement in the form of ALTA 6.0 or 6. 1) acceptable to Xxxxxx Xxx and Xxxxxxx Mac, issued by a title insurer acceptable to Xxxxxx Mae and Xxxxxxx Mac and qualified to do business in the jurisdiction where the Mortgaged Property is located, insuring (subject to the exceptions contained in (j) above) the Seller, its successors and assigns as to the first priority lien of the Mortgage in the original principal amount of the Mortgage Loan and, with respect to any Adjustable Rate Mortgage Loan, against any loss by reason of the invalidity or unenforceability of the lien resulting from the provisions of the Mortgage providing for adjustment in the Mortgage Interest Rate and Monthly Payment. Where required by the state law or regulation, the Mortgagor has been given the opportunity to choose the carrier of the required mortgage title insurance. Additionally, such lender's title insurance policy affirmatively insures ingress and egress to and from the Mortgaged Property, and against encroachments by or upon the Mortgaged Property or any interest therein. The Seller is the sole insured of such lender's title insurance policy, and such lender's title insurance policy is in full force and effect and will be in full force and effect upon the consummation of the transactions contemplated by this Agreement. To the best of the Seller's knowledge, no claims have been made under such lender's title insurance policy, and no prior holder of the related Mortgage, including the Seller, has done, by act or omission, anything which would impair the coverage of such lender's title insurance policy;

  • Title Insurance Policies The Borrower will deliver to the Administrative Agent a policy of title insurance (or marked-up title insurance commitment or title proforma having the effect of a policy of title insurance) (a “Title Policy”) insuring the Lien of such Mortgage as a valid first mortgage or deed of trust Lien on the Mortgaged Property described therein in an amount not less than the estimated fair market value of such Mortgaged Property as reasonably determined by the Borrower, which Title Policy shall (A) be issued by a nationally-recognized title insurance company reasonably acceptable to the Administrative Agent (the “Title Company”), (B) include such reinsurance arrangements (with provisions for direct access, if necessary) as shall be reasonably acceptable to the Administrative Agent, (C) be supplemented by a “tie-in” or “aggregation” endorsement, if available under applicable law, and such other endorsements as may reasonably be requested by the Administrative Agent (including (to the extent available in the applicable jurisdiction and/or with respect to the Mortgaged Property, in each case, on commercially reasonable terms) endorsements on matters relating to usury, first loss, zoning, contiguity, revolving credit, doing business, public road access, survey, variable rate, environmental lien, subdivision, mortgage recording tax, separate tax lot, and so-called comprehensive coverage over covenants and restrictions) if available under applicable law at commercially reasonable rates and (D) contain no other exceptions to title other than Permitted Liens and other exceptions acceptable to the Administrative Agent in its reasonable discretion;

  • Title Policies The Title Company shall be prepared, -------------- subject only to payment of the applicable premium, endorsement and related fees and delivery of all conveyance documents in recordable form, to issue a title insurance policy to Purchaser, subject only to the Permitted Encumbrances, in accordance with Section 3.3. -----------

  • Title Insurance Policy In all cases, the Seller undertakes to remove any encumbrance that will materially interfere with the procurement of a title insurance policy or financing necessary for the purchase of the Property, whether the same is included in the above enumeration or not. Further, the Seller undertakes to, in good faith, cooperate with and assist the Buyer fully in obtaining a title insurance policy. The Seller shall be obligated to take all legal and reasonably necessary action in order to procure such title insurance policy but shall not incur any additional liability in relation thereto. If the title to the Property is not in a condition that is compliant with the above, if the Seller fails or refuses to comply with the Seller’s obligations under this section, or if the Parties are unable to obtain a title insurance policy, the Buyer may, in the Buyer’s sole discretion, accept the title as it is and proceed with the purchase under this Agreement, or terminate this Agreement and recover the Xxxxxxx Money, costs incurred in relation to this Agreement and

  • Title Insurance and Surveys Due to the critical timeline requirements to close the transaction, PHI may order title searches on all PH Owned Real Property and PH Leased Real Property to be transferred to NPC pursuant to this Agreement. These title searches will be performed by a national title company approved by PHI. If PHI has established relations with such company, NPC will be entitled to the benefit of PHI’s preferred rates. If permissible under applicable law and the terms of any agreement with such company, the fees paid for the searches may be applied toward the title policy costs for title policies desired by NPC based upon these title searches In the event NPC or NPC’s lender requires environmental reports relating to the PH Owned Real Property, NPC shall first obtain PHI’s prior written consent and shall execute the Access and Confidentiality Agreement substantially in the form attached hereto as Exhibit “E”, and shall retain a nationally recognized firm approved by PHI to perform such work. PH will not consent to any invasive environmental audit or review and the results of any permitted environmental audit or review will not affect NPC’s obligations hereunder. To the extent that NPC or NPC’s lender requires surveys of the Owned Real Property, NPC shall retain a nationally recognized firm approved by PHI to perform such work. The consultants referenced in this Section 1.7 will be retained solely by NPC, but PH shall have the right to obtain copies of any documents or reports that they prepare. As provided for in Sections 5 and 10.9, NPC shall reimburse PH at Closing (or at such other time as contemplated by those provisions) for all actual or estimated costs incurred by PH in obtaining title insurance, surveys and/or environmental reports on behalf of NPC. Notwithstanding the foregoing however, NPC will not be responsible for the payment or reimbursement of any costs relating to title insurance, surveys and/or environmental reports on any of the subject real estate unless such service is specifically requested by NPC, and request is given forty-five (45) days prior to the Closing.

  • Title Policy The Title Company shall be prepared to issue, upon payment of the title premium at its regular rates, a title policy in the amount of the Purchase Price, insuring title to the Property is vested in the Purchaser or its designee or assignee, subject only to the Permitted Exceptions, with such endorsements as shall be reasonably required by the Purchaser.

  • Survey Buyer may obtain a survey of the Property before the Closing to assure that there are no defects, encroachments, overlaps, boundary line or acreage disputes, or other such matters, that would be disclosed by a survey ("Survey Problems"). The cost of the survey shall be paid by the Buyer. Not later than business days prior to the Closing, Buyer shall notify Seller of any Survey Problems which shall be deemed to be a defect in the title to the Property. Seller shall be required to remedy such defects within If Seller does not or cannot remedy any such defect(s), Buyer shall have the option of canceling this Agreement, in which case the Xxxxxxx Money shall be returned to Buyer.

  • Title Policy and Survey A. TITLE POLICY: Seller shall furnish to Buyer at Seller’s Buyer’s expense an owner policy of title insurance (Title Policy) issued by (Title Company) in the amount of the Sales Price, dated at or after closing, insuring Buyer against loss under the provisions of the Title Policy, subject to the promulgated exclusions (including existing building and zoning ordinances) and the following exceptions: (1) Restrictive covenants common to the platted subdivision in which the Property is located. (2) The standard printed exception for standby fees, taxes and assessments. (3) Liens created as part of the financing described in Paragraph 3. (4) Utility easements created by the dedication deed or plat of the subdivision in which the Property is located. (5) Reservations or exceptions otherwise permitted by this contract or as may be approved by Xxxxx in writing. (6) The standard printed exception as to marital rights. (7) The standard printed exception as to waters, tidelands, beaches, streams, and related matters. (8) The standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines, encroachments or protrusions, or overlapping improvements: (i) will not be amended or deleted from the title policy; or (ii) will be amended to read, "shortages in area" at the expense of Buyer Seller. (9) The exception or exclusion regarding minerals approved by the Texas Department of Insurance.

  • Permitted Liens; Title Insurance Each Mortgaged Property securing a Mortgage Loan is covered by an American Land Title Association loan title insurance policy or a comparable form of loan title insurance policy approved for use in the applicable jurisdiction (or, if such policy is yet to be issued, by a pro forma policy, a preliminary title policy or a “marked up” commitment, in each case with escrow instructions and binding on the title insurer) (the “Title Policy”) in the original principal amount of such Mortgage Loan (or with respect to a Mortgage Loan secured by multiple properties, an amount equal to at least the allocated loan amount with respect to the Title Policy for each such property) after all advances of principal (including any advances held in escrow or reserves), that insures for the benefit of the owner of the indebtedness secured by the Mortgage, the first priority lien of the Mortgage (which lien secures the related Whole Loan, in the case of a Mortgage Loan that is part of a Whole Loan), which lien is subject only to (a) the lien of current real property taxes, water charges, sewer rents and assessments not yet due and payable; (b) covenants, conditions and restrictions, rights of way, easements and other matters of public record specifically identified in the Title Policy; (c) the exceptions (general and specific) and exclusions set forth in such Title Policy; (d) other matters to which like properties are commonly subject; (e) the rights of tenants (as tenants only) under leases (including subleases) pertaining to the related Mortgaged Property; (f) if the related Mortgage Loan constitutes a Crossed Underlying Loan, the lien of the Mortgage for another Mortgage Loan contained in the same Crossed Mortgage Loan Group, and (g) condominium declarations of record and identified in such Title Policy, provided that none of clauses (a) through (g), individually or in the aggregate, materially and adversely interferes with the value or principal use of the Mortgaged Property, the security intended to be provided by such Mortgage, or the current ability of the related Mortgaged Property to generate net cash flow sufficient to service the related Mortgage Loan or the Mortgagor’s ability to pay its obligations when they become due (collectively, the “Permitted Encumbrances”). For purposes of clause (a) of the immediately preceding sentence, any such taxes, assessments and other charges shall not be considered due and payable until the date on which interest and/or penalties would be payable thereon. Except as contemplated by clause (f) of the second preceding sentence none of the Permitted Encumbrances are mortgage liens that are senior to or coordinate and co-equal with the lien of the related Mortgage. Such Title Policy (or, if it has yet to be issued, the coverage to be provided thereby) is in full force and effect, all premiums thereon have been paid and no claims have been made by the Mortgage Loan Seller thereunder and no claims have been paid thereunder. Neither the Mortgage Loan Seller, nor to the Mortgage Loan Seller’s knowledge, any other holder of the Mortgage Loan, has done, by act or omission, anything that would materially impair the coverage under such Title Policy. Each Title Policy contains no exclusion for, or affirmatively insures (except for any Mortgaged Property located in a jurisdiction where such affirmative insurance is not available in which case such exclusion may exist), (a) that the Mortgaged Property shown on the survey is the same as the property legally described in the Mortgage and (b) to the extent that the Mortgaged Property consists of two or more adjoining parcels, such parcels are contiguous.

  • Surveys Each Borrower shall submit the Ship owned by it regularly to all periodical or other surveys which may be required for classification purposes and, if so required by the Security Trustee provide the Security Trustee, with copies of all survey reports.

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