Title Approval. 3.3.1 Buyer shall have six (6) weeks after the receipt of the Preliminary Title Report to deliver in writing to Seller and to Title Company any objections (“Title Review Period”) to any matters contained in the Preliminary Title Report. Any exception, matter or objection to which Buyer fails to object within the Title Review Period is deemed approved and shall be a “Permitted Exception”. In addition, all Encumbrances caused or created (and not bonded or removed) by, or approved or accepted in writing by, the Buyer, shall be Permitted Exceptions. Seller shall notify Buyer within ten (10) Business Days of such written notice of whether it intends to satisfy or remove, at its sole election and discretion, prior to Close of Escrow, any items in the Preliminary Title Report objected to by Buyer. Seller shall then satisfy or remove (by affirmative endorsement or otherwise), prior to Close of Escrow, the items specified in its notice to Buyer. If Seller on or before the Closing fails or is unwilling to satisfy, remove or endorse over any such objectionable items (which unwillingness must be notified to Buyer during the Title Review Period), Buyer may either waive such objections, exceptions or other matters and accept such title as Seller is able or willing to convey, or alternatively terminate this Agreement by written notice to Seller, at which time this Agreement shall be cancelled and void for all purposes. In the event of such termination, (i) the Deposit—less One Hundred Dollars ($100.00) to be paid to Seller as fair consideration for entering into this Agreement (the “Fair Consideration”)—shall be retained by Buyer (or refunded to Buyer, as the case may be), (ii) Escrow shall return all documents to the party that deposited the same, (iii) shall be released and relieved from any and all claims or obligations arising by virtue of having heretofore executed this Agreement and neither party shall have any obligation to the other, and (iv) Seller shall pay all of the cancellation costs and expenses imposed by Escrow Holder.
Title Approval. Seller has caused the Title Company to deliver to Buyer a Commitment for Title Insurance (the “Commitment”) and copies of all recorded instruments affecting the Land and recited as exceptions in the Commitment. If Buyer has an objection to items disclosed in the Commitment or in the Survey (as hereinafter defined), Buyer shall have until 5:00 p.m. Houston, Texas local no later than the expiration of the Feasibility Period (the “Objection Period”) to make written objections to Seller. If Buyer makes such objections, Seller shall, within two (2) days after the date of receipt of such objections, advise Buyer in writing if it will cure any or all of the same at or before Closing (Seller shall have no obligation to expend any money or institute any litigation in pursuing any such efforts; provided, that, Seller shall be obligated, at Closing to cure the effects of any mortgages or deed of trust liens against the Property voluntarily granted by Seller and the effects of any voluntary conveyances of interests in the Property, other than Tenant Leases, made by Seller after the Effective Date [collectively, the “Mandatory Cure Matters”]). If Seller is unwilling or unable to cure the objections (if Seller fails to so advise Buyer within two (2) days after the receipt of Buyer’s written objections to title, Seller shall be deemed to have elected not to cure the same), Buyer shall, as its sole and exclusive remedy, elect within two (2) business days following Seller’s notice of its unwillingness or inability to cure the objections to either (a) terminate this Contract and the Xxxxxxx Money shall be refunded to Buyer, and neither party shall have any further rights or obligations pursuant to this Contract, or (b) waive the unsatisfied objections and close the transaction with no reduction in the Sales Price. If Buyer does not deliver such written election within such time period, then Buyer shall be deemed to have waived the unsatisfied objections and elected to close the transaction without a reduction in the Sales Price. If Buyer fails to timely notify Seller in writing of any such objections during the Objection Period, it shall be deemed that Buyer has approved and found the Commitment, the Survey and all matters reflected on or in any of them to be acceptable and permitted hereunder and Buyer has agreed to take title to the Property subject to such matters, and Buyer may not thereafter refuse to consummate the sale contemplated by this Contract or claim any failu...
Title Approval. Seller, at Seller’s expense, will provide to Buyer within 14 days after the effective date of this agreement: (a) a current title insurance commitment in the amount of the total purchase price showing title to the property to be good and indefeasible and vested solely in Seller. Buyer will have 7 days from the date of receipt of the title commitment (and from any subsequent amendments or supplement) to object to any exceptions shown by giving written notice to Seller. Provided that any matter not objected to by Buyer within the 5-day period shall be deemed to be acceptable to Buyer ("Permitted Exceptions"). Seller may, but is not obligated to, cure the title objections. If Seller has not cured the title objections to Buyer's reasonable satisfaction within 5 days from the date the objections are disclosed or if Seller elects not to cure the objections, then Buyer will have as its sole options the right to either terminate this agreement and obtain a return of xxxxxxx money or waive the objections and consummate the purchase of the property subject to the objections, all of which will be deemed Permitted Exceptions. Failure by Buyer to terminate this agreement within 5 days after Seller's 5 day cure period constitutes Buyer's waiver of any objections, and the uncured objections will be deemed “Permitted Exceptions”.
Title Approval. Prior to closing, Buyer shall be furnished with a title insurance commitment for the most current and comprehensive ALTA Owner's Title Insurance Policy available in the amount of the purchase price or an abstract of title continued to date, showing marketable title to Property in Seller's name. Seller must convey title free and clear of any encumbrances and title defects, with the exception of any mortgage assumed by Xxxxx and any restrictions or easements of record not materially interfering with Xxxxx's intended use of the Property. A title company, at Buyer's request, can provide information about availability of various additional title insurance coverages and endorsements and the associated costs. 227 Owner's Title Insurance Premium and that portion of Title Service Fees incurred to prepare the Owner's Policy 228 (including title search and examination and commitment preparation), to be paid by Xxxxx (included in 229 allowance, if provided) Seller Shared equally. 230 231 Xxxxxx's Title Insurance Premium and that portion of Title Service Fees incurred to prepare the Lender's Policy 232 233 (including title search and examination and commitment preparation), if applicable, to be paid by Buyer (included in allowance, if provided) Seller Shared equally Other 234 . 235 The parties agree that Seller Buyer will select a title insurance company to issue a title insurance policy and 236 will order the commitment immediately or other: 237 . 238 239 240 241 242 243 244 245 Pursuant to Federal and State law, Seller cannot make Seller's selection of a title insurance provider a condition of this Agreement. Xxxxxx agrees to pay the cost of obtaining all other documents necessary to perfect title (including the cost of the deed and vendor's affidavit), so that marketable title can be conveyed.
Title Approval. Prior to closing, Buyer shall be furnished an ALTA 98 Title Insurance Commitment (if available) or an ALTA 92 Title Insurance Commitment in the amount of purchase price or an abstract of title continued to date showing marketable title to the Property in Seller's name. The cost shall be paid by Buyer Seller shared equally Seller to pay owner's policy and Buyer to pay mortgage policy other . 170 Any encumbrances or defects in title must be removed and Seller must convey title free and clear of any encumbrances and title defects, 171 with the exception of any mortgage assumed by Buyer and any restrictions and easements of record which will not materially interfere 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 16. with Buyer's intended use of the Property. Seller shall order the commitment immediately after mortgage approval other . Seller agrees to pay the cost of obtaining all other documents necessary to perfect title (including the cost of the deed and vendors affidavit), so that marketable title can be conveyed. A title company, at Buyer's request, can provide information about availability, desirability, coverage, and cost of various title insurance coverages, gap and other endorsements. TAXES: (Check paragraph A, B or C)
Title Approval. (a) Seller has previously delivered to Buyer and Buyer acknowledges receipt of: a Commitment for Title Insurance with copies of all recorded instruments affecting the Property and recited as exceptions in said Commitment for Title Insurance (collectively, the “Commitment”). Within fifteen (15) days of the Effective Date, Seller shall, at Seller’s sole cost and expense provide to Buyer a current “as-built” survey (“New Survey”). New Survey must: (1) be prepared by a Registered Professional Land Surveyor; (2) be in a form reasonably acceptable to the Title Company; (3) set forth a legal description of the Lands by metes and bounds or by reference to a platted lot or lots; (4) show that the New Survey was made on the ground with corners marked with monuments either found or placed; (5) show any discrepancies or conflicts in boundaries, and any visible encroachments; (6) contain the surveyor’s certificate that the Survey is true and correct; and (7) show the location and size of all of the following on or immediately adjacent to the Land, if any, if recorded or visible and apparent: (a) buildings, (b) building set back lines (as shown on any recorded plat, but not as may be described in any restrictive covenants or zoning ordinances), (c) streets and roads, (d) 100-year flood plain (approximate location), (e) improvements, (f) encroachments, (g) easements, (h) recording information of recorded easements, (i) pavements, (j) protrusions, (k) fences, (1) rights-of-way, and (m) any markers or other visible evidence of utilities. Any area of the Property within the 100-year flood plain will be shown on the Survey as the approximate location of the 100-year flood plain as defined by the Federal Emergency Management Agency or other applicable governmental authority. If Buyer has an objection to items disclosed in the Commitment or the New Survey, then Buyer will be entitled to give Seller written notice of its objections for a period of ten (10) Business Days following the receipt of the New Survey. If Buyer gives timely written notice of its objections, then Seller may, but shall not have any obligation to, cure such objections for a period of five (5) days from the date Seller receives Buyer’s notice (“Seller’s Cure Period”). Seller shall utilize reasonable diligence to cure any errors in the Commitment, provided Seller shall not have any obligation to expend any money, to incur any contractual or other obligations, or to institute any litigation in pursuing such e...
Title Approval. The Title Insurance Policy shall confirm Xxxxx’s title to be good and indefeasible subject to the promulgated exclusions (including existing building and zoning ordinances, if any) and any and all exceptions as stated in the Title Commitment provided by the Title Company and as stated therein (the “Permitted Exceptions”). Specifically, the restrictive covenants for the subdivision; the standard exception for standby fees, taxes and assessments as well as any exception for taxes for the current and subsequent years and subsequent assessments from prior years due to a change in land usage or ownership; any liens created as part of the financing described earlier in this Contract in Paragraph 4; all prior easements or any easement created by the deed or dedicated in the Plat or otherwise appearing in public records; all reservations or exceptions as shown on the Title Commitment or as otherwise permitted by the terms of this Contract or as may be approved by Buyer in writing; the standard printed exception as to marital rights; the standard printed exception as to waters, tidelands, beaches, streams, and related matters; the standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines, encroachments or protrusions, or any overlapping improvements (Buyer, at Buyer’s expense, may have the exception amended to read, “shortages in area.”); rights of parties in possession; all rules, regulations, ordinances, land planning and zoning ordinances and any other orders governing residential subdivisions, building and construction near and on the shores of a navigable stream/river as well as sanitation and waste disposal as require by the County, Texas Water Quality Board and the Texas Commission on Environmental Quality or other governmental agency having jurisdiction; any mineral reservations, Surface Use Agreements and Mineral Deeds reflected in the Official Public Records of the County; and any and all exceptions to the Property as stated in Schedule B of the Title Commitment shall be Permitted Exceptions to the deed. Upon receipt of the Title Commitment, Xxxxx may raise title objections to the Commitment within fifteen (15) days from the date of receipt. After the expiration of fifteen (15) days, any objections to the Title Commitment are waived. County requirements or ordinances and the Permitted Exceptions (the “Permitted Exceptions” are those in Paragraph 14A) shall not be valid objections to title. After the Buyer’s objections ...
Title Approval. Subject to the satisfaction of the Conditions (as defined in Section 2.1 of the Master Purchase Agreement), Escrow Holder shall deliver to Seller and Buyer by no later than ten (10) business days subsequent to the Opening of Escrow, a title report or title commitment on the Lot ("Title Commitment"). Buyer shall have the right to disapprove title to the Lot by delivering written notice to Seller and Escrow Holder no later than fifteen (15) business days from receipt of the Title Commitment, but only if the Title Commitment contains any title exception in addition to the Approved Exceptions, as defined in Section 4.1, and which MMB is obligated to remove pursuant to Section 9.1 of the Original Option Agreement ("
Title Approval. Prior to closing, Buyer shall be furnished Title Insurance Commitment (if available) an abstract of title continued to date showing marketable title to the Property in Seller's name. The cost shall be paid by: X❑ Buyer ❑ Seller ❑ shared equally ❑ Seller to pay owner's policy and Buyer to pay mortgage policy ❑ other . Any encumbrances or defects in title must be removed and Seller must convey title free and clear of any encumbrances and title defects, with the exception of any mortgage assumed by Xxxxx and any restrictions and easements of record which will not materially interfere with Xxxxx's intended use of the Property. Seller shall order the commitment immediately after mortgage approval other. Xxxxxx agrees to pay the cost of obtaining all other documents necessary to perfect title (including the cost of the deed and vendors affidavit), so that marketable title can be conveyed. A title company, at Buyer's request, can provide information about availability, desirability, coverage, and cost of various title insurance coverages, gap and other endorsements.
Title Approval. Prior to closing, Recipient shall be furnished with a title insurance commitment for the most current and comprehensive ALTA Owner’s Title Insurance Policy available in the amount of the purchase price showing marketable title to Property in Donor’s name, Donor must convey title free and clear of any encumbrances and title defects, with the exception of any mortgage assumed by Recipient and any restrictions or easements of record not materially interfering with Recipient’s intended use of the Property. A title company, at Recipient’s request, can provide information about availability of various additional title insurance coverages and endorsements and the associated costs. OWNER’S TITLE INSURANCE PREMIUM and that portion of Title Service Fees incurred to prepare the Owner’s Policy (including title search and examination and commitment preparation), to be paid by the Recipient. The parties agree that Recipient will select a title insurance company to issue a title insurance policy and will order the commitment immediately. Pursuant to Federal and State law, Donor cannot make Donor’s selection of a title insurance provider a condition of this Agreement.
