Title and Title Commitment Sample Clauses

Title and Title Commitment. (a) At Closing, fee simple title to the Real Property and Improvements shall be conveyed to Buyer by Seller by the Deed, subject only to (i) taxes and assessments for the year of Closing and subsequent years not yet due and payable, (ii) matters of title and survey respecting the Houston Real Property, the Atlanta Real Property, the Orlando Real Property, and Improvements, approved or deemed approved by Buyer in accordance with this Section 4.3, (iii) matters ----------- affecting the condition of title to the Real Property and/or Improvements created by or with the written consent of Buyer, (iv) subject to matters of survey approved or deemed approved by Buyer in accordance with this Section 4.3, ------------ any matters which would be shown by a current accurate survey or inspection of the Real Property and Improvements, (collectively, the "Permitted Exceptions"). With respect to matters of Title, Seller shall be obligated to remove (i) all mortgages, deeds of trust, deeds to secure debt, and like encumbrances, (ii) all other monetary liens and judgments, and (iii) any other encumbrances created by Seller after the Effective Date. (b) Within ten (10) days following the Effective Date, the Title Company shall furnish to Buyer the Title Commitment issued, together with hard copies of all exceptions thereto. The Title Commitment shall commit the Title Company to issue to Buyer, upon compliance with the requirements set forth in the Title Commitment, an Owner's Policy (the "Title Policy") insuring Buyer as the owner of the Real Property and Improvements, in an amount equal to the portion of the Purchase Price allocated to the Real Property and the Improvements.

Title and Title Commitment