Common use of Title Approval Clause in Contracts

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. Within ten (10) days of the Effective Date of this Contract, Seller shall deliver to Buyer Purchaser, within 20 days from the date hereof, at Seller's expense,a Commitment commitment for Title Insurance or Preliminary Title Report, as applicable, issued by Title Company title insurance (the "Commitment") andfrom First American Title Insurance Company for title insurance in the amount of the purchase price, to the extent available, and legible copies of all recorded instruments noted affecting the Premises and recited as exceptions in the Commitment, (and a survey of the Land and Improvements). If Buyer Purchaser has an objection to items disclosed in such Commitment or shown on the surveyCommitment, Buyer Purchaser shall have until 10 days after receipt of such instrument and the end of the Inspection Period property survey described in Section 14 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 Purchaser makes such written objections, Seller shall have thirty (30) 15 days from the date of such written notice objections are disclosed to cure the same. If required, and the Closing Date 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 sonecessary. If the objections are not cured satisfied within such time period, Buyer Purchaser may (i) terminate this Contract upon written notice to Seller in which event the Deposit shall be returned to Buyer Agreement and neither party shall have any further rights or obligations pursuant to under this Contract Agreement, except as otherwise provided abovein Section 22, or (ii) waive the unsatisfied objections and close the transaction and in accordance with this Agreement, except that the Sales Price amount of all monetary encumbrances shall be credited against the Purchase Price. If Purchaser does not notify Seller in writing of objections to the condition of title within the time period provided for above, Purchaser shall be reduceddeemed to have agreed to accept title to the Premises in the condition shown in the Commitment. Seller shall bear the cost of the title insurance.

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 Xxxxx 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. until 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 (iI) 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. Within ten (10) days of Seller has caused the Effective Date of this Contract, Seller shall Title Company to 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 and copies of all recorded instruments noted affecting the Land and recited as exceptions in the Commitment, (and a survey of the Land and Improvements). If Buyer has an objection to items disclosed in such the Commitment or shown on in the surveySurvey (as hereinafter defined), Buyer shall have until 5:00 p.m. Houston, Texas local no later than the end expiration of the Inspection Feasibility Period (the “Objection 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 shall, within two (302) days from 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 notice objections to title, Seller shall be deemed to have elected not to cure the same. If required), the Closing Date shall be extended to allow such cure; providedBuyer shall, howeveras its sole and exclusive remedy, that the Closing Date shall not be extended beyond the aforementioned 30-day cure period unless otherwise agreed by Buyer and elect within two (2) business days following Seller. Closing ’s notice of its unwillingness or inability to cure the same. Seller agrees objections 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 either (ia) terminate this Contract upon written notice to Seller in which event and the Deposit Xxxxxxx Money shall be returned refunded to Buyer Buyer, and neither party shall have any further rights or obligations pursuant to this Contract except as otherwise provided aboveContract, or (iib) waive the unsatisfied objections and close the transaction and with no reduction in the Sales Price 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 failure of Seller’s obligations under this Contract solely because of any such matters. Any items to which Buyer does not object in writing within the Objection Period or to which it does object but subsequently waives (or is deemed to have waived) shall be reduceddeemed to be “Permitted Exceptions” (herein so defined).