Title Approval. Purchaser shall have a period of three (3) business days from the Effective Date (the “Title Review Period”) in which to review the Commitment, the Title Documents, the Pro Forma and the Survey (collectively, the “Title and Survey Documents”) and deliver to Seller, at Purchaser’s election, in writing, such objections as Purchaser may have to any matters contained in the Title and Survey Documents (“Purchaser’s Objection Notice”; any of said objections listed on Purchaser’s Objection Notice are deemed the “Objectionable Exceptions”); provided, however, Purchaser shall not be required to notify Seller of its objection to, and Seller shall cause Title Company to remove any mortgage, deed of trust or financing statement relating thereto that encumbers the Project or any matter arising after the Effective Date from the acts of Seller, but excluding any exceptions which arise from contracts entered into by any of the tenants of the Building listed in Exhibit C attached hereto (collectively, the “Tenants”) or other third party to which Seller is not a party. Seller shall have two (2) business days to agree or disagree to remove prior to Closing, all such Objectionable Exceptions by written notice to Purchaser. Seller’s failure to deliver such notice to Purchaser within said two (2) business day period shall be deemed Seller’s refusal to remove all such Objectionable Exceptions prior to Closing. If Seller does not agree to remove any Objectionable Exceptions to which Purchaser objects within such two (2) business period, then Purchaser shall have the right (but not the obligation), at any time on or prior to the Decision Date, either (i) to accept title to the Project subject to the Objectionable Exceptions, which shall then become Permitted Exceptions, without reduction in the Purchase Price; or (ii) to cancel and terminate this Agreement by written notice to Seller and Escrow Agent and, notwithstanding anything to the contrary set forth herein, to receive a refund of the Xxxxxxx Money, including all interest accrued thereon. In the event that Purchaser elects to cancel and terminate this Agreement, the Escrow Agent shall disburse the Xxxxxxx Money and all interest accrued thereon to Purchaser immediately upon receipt of notice from Purchaser and Seller (neither party shall delay in executing a release of such Xxxxxxx Money in such event) and neither party shall have any further obligations to the other party hereunder and the parties shall be released from furth...
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 a. The Title Policy to be furnished to Buyer shall insure Buyer's title to the Property to be good and indefeasible subject only to the following (“Permitted Title Exceptions”): (1) Title Company’s standard exception; (2) restrictive covenants affecting the Property; (3) any discrepancies or conflicts in boundary lines, any shortages in area, or any encroachment or overlapping of improvements, any facts, rights, interests or claims which are not shown by the public record but which could be ascertained by an accurate survey of the land or by making inquiry of persons in possession thereof; (4) taxes and assessments not due and payable at the Commitment (as defined below) date, and subsequent assessments for prior years due to change in land usage or ownership; (5) taxes, assessments and/or fees which may arise due to noncompliance of municipal ordinances and/or city, township or county inspections not being obtained or passed; (6) existing building and zoning ordinances; (7) easements, liens or encumbrances or claims thereof which are not shown by the public record; (8) any liens or right to lien for services, labor or material imposed by law and not shown by the public record; (9) covenants, conditions and restrictions, if any, appearing in the public record; (10) any easements or servitudes appearing in the public records; (11) any lease, grant, exception or reservation of mineral rights appearing in the public record; (12) loss or damage arising out of a lien or assessment arising from any work completed by any municipality for snow removal, grass cutting, securing/boarding of the subject Property, debris removal, or assessments for violations of any of any city ordinances, not of record with local or county recorders office prior to the date of Closing.
Title Approval. Within ten (10) days of the Effective Date of this Contract, Seller shall deliver to Buyer a Commitment for Title Insurance or Preliminary Title Report, as applicable, issued by Title Company (the "Commitment") and, to the extent available, legible copies of all recorded instruments noted as exceptions in the Commitment, together with a survey of the Land and Improvements. If Buyer has an objection to items disclosed in such Commitment or shown on the survey, Buyer shall have until the end of the Inspection Period to make written objections to Seller. Any items disclosed in such Commitment or shown on the survey if not timely objected to by Xxxxx shall be deemed approved ("Approved Title Matters"
Title Approval. Within ten (10) days of the Effective Date of this Contract, Seller shall deliver to Buyer a Commitment for Title Insurance or Preliminary Title Report, as applicable, issued by Title Company (the "Commitment") and, to the extent available, legible copies of all recorded instruments noted as exceptions in the Commitment, (and a survey of the Land and Improvements). If Buyer has an objection to items disclosed in such Commitment or shown on the survey, Buyer shall have until the end of the Inspection Period to make written objections to Seller. Any items disclosed in such Commitment or shown on the survey if not timely objected to by Buyer shall be deemed approved ("Approved Title Matters"). If Buyer makes such written objections, Seller shall have thirty (30) days from the date of such written notice to cure the same. If required, the Closing Date shall be extended to allow such cure; provided, however, that the Closing Date shall not be extended beyond the aforementioned 30-day cure period unless otherwise agreed by Buyer and Seller. Closing to cure the same. Seller agrees to utilize reasonable efforts and reasonable diligence to cure such objections, if any, provided that Seller shall not be required to expend more than $1,000 to do so. If the objections are not cured within such time period, Buyer may (i) terminate this Contract upon written notice to Seller in which event the Deposit shall be returned to Buyer and neither party shall have any further rights or obligations pursuant to this Contract except as otherwise provided above, or (ii) waive the unsatisfied objections and close the transaction and the Sales Price shall not be reduced.
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 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 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.
A. Buyer will assume and pay all taxes on the Property beginning with the taxes due and payable on ,
B. All taxes assessed for any prior calendar year and remaining unpaid shall be paid by Seller, and all taxes assessed for the current calendar year shall be prorated between Seller and Buyer on a calendar-year basis as of the day immediately prior to the Closing Date. 17. 18.
Title Approval. Landlord has delivered to Tenant on the date of -------------- this Lease a Commitment for Title Insurance dated March 1, 1999 issued by Xxxxxxx Title Company, under G.
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. 2.3.1 Within two (2) business days after the Effective Date, Seller shall deliver, or cause to be delivered, to Buyer the following documents (collectively, the “Title Documents”): (A) a preliminary title report (“PTR”) issued by the Title Company with respect to the Real Property, together with legible copies of all recorded instruments reflected therein as exceptions to title (and a copy of the draft Grant of Easement for Sanitary Sewer Purposes by and between Seller, as Grantor, and Hawaii Housing Development Corporation, as Grantee, which Seller intends to record in the Office of the Assistant Registrar of the Land Court of the State of Hawaii and/or the Bureau of Conveyances of the State of Hawaii, as applicable, prior to the Contingency Date (“Sewer Easement”)); and (B) any existing survey of the Real Property currently in Seller’s possession or control (the “Survey”). Any update or revision of the Survey required by Buyer shall be done at Buyer’s sole cost and expense. Within twenty (20) calendar days of Buyer’s receipt of the last of the PTR or Survey, Buyer shall advise Seller and the Title Company of its approval or disapproval of the condition of title reflected in the foregoing documents (the “Title Notice”). Buyer’s failure to give Seller and the Title Company timely Title Notice shall be deemed approval by Buyer of the condition of title. If Buyer notifies Seller of its disapproval of the condition of title of the Property within the time specified, Seller shall have five (5) business days following receipt of Buyer’s Title Notice to advise Buyer and the Title Company, in writing, that Seller intends to cure, on or before the Closing Date (Seller having no obligation to cure), and provide Buyer and Title Company with sufficient evidence of Seller’s ability to cure, on or before the Closing Date, any matters disapproved by Buyer (“Title Cure Notice”). In the event Seller fails to give Buyer and the Title Company the Title Cure Notice or notifies Buyer that it is unable or unwilling to cure all matters disapproved by Buyer in its Title Notice, this Agreement shall terminate (in which event Escrow shall be canceled, the cancellation charges required to be paid by and to Escrow Holder and the Title Company shall be borne by Seller, and all other charges shall be borne by the party incurring same and the Deposit shall be immediately returned to Buyer), and the parties hereto shall be released and relieved of their respective obligations and liabil...
