TITLE 4.1 Title Documents Clause Samples

TITLE 4.1 Title Documents. Within 10 calendar days after the Effective Date, Purchaser shall obtain a standard form commitment for title insurance ("Title Commitment"), from First American Title Insurance Company of New York (with co-insurance in an amount determined by Purchaser to be provided by Chicago Title Insurance Company) (together, the "Title Insurer"), for the Property in an amount equal to the Purchase Price for an owner's title insurance policy (the "Title Policy") on the most recent standard American Land Title Association form, together with copies of all instruments identified as exceptions therein (together with the Title Commitment, referred to herein as the "Title Documents"). Seller shall be responsible only for payment of the basic premium for the Title Policy. Purchaser shall be solely responsible for payment of all other costs relating to procurement of the Title Commitment, the Title Policy, and any endorsements requested by Purchaser. 4.2