Title and Permitted Exceptions. 30 SECTION 8.1. Title Insurance and Survey .................................................................30 SECTION 8.2. Title Commitment and Survey............................................................30 SECTION 8.3. Delivery of Title .................................................................................30 SECTION 8.4. Cooperation.........................................................................................31 ARTICLE IX TRANSACTION COSTS AND RISK OF LOSS..........................................32 SECTION 9.1. Transaction Costs................................................................................32 SECTION 9.2. Risk of Loss ........................................................................................32 ARTICLE X ADJUSTMENTS............................................................................................34 SECTION 10.1. Adjustments ........................................................................................34 SECTION 10.2. Re-Adjustment ....................................................................................36 SECTION 10.3. Accounts Receivable ..........................................................................37
Title and Permitted Exceptions. (a) Seller has provided to Purchaser a title insurance commitment (“Title Commitment”) from Fidelity National Title Insurance Company (the “Escrow Agent”) and a current ALTA survey (the “Survey”) with respect to the Property and has delivered a copy thereof together with legible copies of all documents shown as exceptions therein to Purchaser. The cost of the Title Commitment and the Survey shall be paid by Purchaser. The cost of the basic owner’s Title Policy (hereafter defined), together with the additional cost of any extended coverage, mortgage policy or endorsements to such Title Policy or mortgagee policy, shall be paid by Purchaser.
(b) Purchaser acknowledges that it hereby consents to the matters shown on (i) the Title Commitment that are set forth in the Title Policy (as defined below) and/or (ii) the Survey, and that all of such items shall be “Permitted Exceptions”.
Title and Permitted Exceptions. SECTION 8.1. Title Insurance and Survey. Property Sellers’ (or the applicable Wholly Owned Entity’s) fee simple title in the Owned Properties shall be sold and are to be conveyed, and Buyer agrees to purchase fee simple title in the Owned Properties, subject only to the Permitted Exceptions. Title to the Joint Venture Property shall be owned in fee simple by the Joint Venture Entities or respective Subsidiaries identified in Schedule A-4, subject only to the Permitted Exceptions at Closing.
Title and Permitted Exceptions. The Seller shall convey to the Purchaser good, marketable and insurable fee simple title to the Property subject only to the following items (the “Permitted Exceptions”):
A. Those liens, encumbrances, easements and other items set forth on Schedule B-2 of the Commitment to be secured by the Purchaser pursuant to Paragraph 5.A of this Agreement, and on the Survey to be secured by the Purchaser pursuant to Paragraph 5.A of this Agreement, which the Purchaser does not designate as being a Title Defect pursuant to Paragraph 6 of this Agreement;
B. The rights of parties in possession of all or any portion of the Land and Improvements under leases, subleases or other occupancy agreements, to the extent set forth and described in the current rent roll (“Rent Roll”) attached to this Agreement as Exhibit C, as the same shall be updated to the Closing Date;
C. Liens for taxes and assessments that are due and payable after the Closing Date, subject to the payment and proration of such taxes and assessments as provided in this Agreement; and
D. Such matters as would be disclosed by a current and accurate survey and inspection of the Land;
E. Zoning ordinances affecting the Subject Premises; and
F. Uncured Title Defects, if any, accepted by Purchaser pursuant to paragraph 6 infra.
Title and Permitted Exceptions. 31 Section 8.1 Permitted Exceptions. ............................................31 Section 8.2
Title and Permitted Exceptions. Seller will not provide or pay for a Standard Owner’s policy of title insurance at Closing. Xxxxx acknowledges that it is solely responsible for making such investigations and obtaining assurances as to the state of title to the Property as Buyer deems prudent or necessary. The cost of any title insurance that is necessary or desirable by Buyer shall be at Buyer's sole expense. Notwithstanding the foregoing, within three (3) business days after the execution of this Agreement, Buyer shall order either a title report or a preliminary commitment for issuance of a title insurance policy on the Property, issued by a title insurer acceptable to Buyer (the "Title Insurer"). Buyer shall direct the Title Insurer to provide Seller with a copy of the report or a preliminary commitment at the time it is provided to Buyer. Buyer shall have seven (7) days after receipt of the report or preliminary commitment to provide to Seller a letter setting forth all of Buyer's objections to the state of title to the Property, and Seller shall have ten (10) days after receipt of such letter to correct the defects in title objected to by Buyer. If Seller is unwilling or unable to correct such defects within such ten (10) day period, Buyer shall have the option to waive such defect or terminate this Agreement and obtain a refund of the Deposit. Any exceptions listed on the report or preliminary commitment not objected to by Buyer or waived by Buyer shall be considered as "Permitted Exceptions". Buyer acknowledges and agrees that the following exceptions are hereby accepted as Permitted Exceptions: patent; RS 2477; notes on the subdivision plat; interim conveyance; easements of record; the Subdivision Agreement; any exceptions relating to or arising from Seller’s status as a corporation governed by the Alaska Native Claims Settlement Act (43 U.S.C. 1601, et seq.); the Declaration of Overlook Estates Addition 3, including any amendments thereto as filed prior to Closing, and the rights, powers and duties of the Association and its Bylaws.
Title and Permitted Exceptions. 33 Section 9.1 Permitted Exceptions...........................................33 Section 9.2 Title Report, Survey and Searches..............................33 Section 9.3 Use of Purchase Price to Discharge Title Exceptions............33 Section 9.4 Inability to Convey............................................34 Section 9.5 Rights in Respect of Inability to Convey.......................34 Section 9.6 Voluntary/De Minimis Title Exceptions........................
Title and Permitted Exceptions. 29 Section 9.1
Title and Permitted Exceptions. 42 Section 9.1 Permitted Exceptions. . . . . . . . . . . . . . . . . . . . . . . . 42 Section 9.2 TITLE REPORT, . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 Section 9.3 USE OF PURCHASE PRICE TO DISCHARGE TITLE EXCEPTIONS . . . .
Title and Permitted Exceptions. 22 Section 8.1 Permitted Exceptions . . . . . . . . . . . . . . . . . . 22 Section 8.2
