Title Assurance. The Undertaking of the Title Company.
Title Assurance. At the Closing, Seller shall cause the Title Company, at Seller's expense, to furnish Purchaser with a UCC Search Report certified by the Secretary of State of Texas, and by the appropriate official of Dallas County, Texas, indicating that, as of the Closing Date, there are no filings against any of the Personal Property. The Title Company shall, at Seller's expense, issue a Texas standard form of Owner's Policy of Title Insurance as prescribed by the Texas State Board of Insurance (the "Owner's Policy"), dated as of the Closing Date, insuring Purchaser's fee simple title to the Property, as well as all appurtenant easements, in the full amount of the Purchase Price, subject only to the Permitted Exceptions. The Owner's Policy shall also be subject to the standard printed exceptions provided for in the standard form of title insurance approved by the State Board of Insurance in the State of Texas; provided, however, that:
(a) the Owner's Policy shall not contain any exceptions for the following: (A) any liens, restrictions, easements, encroachments, encumbrances or exceptions other than Permitted Exceptions; or (B) rights of parties in possession, except for parties in possession in accordance with the terms of the Lease;
(b) the standard survey exception (i.e., Item 2 on Schedule B) shall be modified at Purchaser's cost to read "shortages in area" only;
(c) the exception for liens for standby fees and taxes shall be limited to the year of the Closing "not yet due and payable," and Seller hereby agrees to pay at the Closing all standby fees and ad valorem tax assessments due for prior years, whether simply accrued and delinquent or due to change in land use or ownership;
(d) the exception for restrictions shall be deleted unless there are Permitted Exceptions that constitute restrictions in which event this exception shall be endorsed "none of record except" those particular Permitted Exceptions, if any; and
(e) any mandatory arbitration clause shall be deleted.
Title Assurance. Upon request by the Bank, the Borrower must furnish evidence satisfactory to the Bank that it has at all times during the term of this loan title to the Property described in the Deeds of Trust, free and clear of all encumbrances.
Title Assurance. At the Closing, Seller shall cause the Title Company at Seller and Purchaser's expense to furnish Purchaser with a UCC Search Report on Seller certified by the Secretary of State of the state in which the Property is located and the state in which Seller is organized indicating that, as of the Closing Date, there are no filings against any of the Personal Property.
Title Assurance. Such information regarding the title of each mortgagor to the Mortgaged Properties and the priority of the Lien of the Mortgage as Xxxx may request (including, if requested by Xxxx, title opinions of counsel satisfactory to Xxxx with respect to Mortgaged Properties representing not more than 50% of the Forward Value of the Initial Reserve Collateral stating that such mortgagor has good and defensible title to such Mortgaged Properties, free and clear of all Liens other than Liens permitted by the Mortgages and subject only to such title defects as shall be acceptable to Xxxx).
Title Assurance. 22 6.3 Delivery of Documents, Possession, Keys and Other Items.......................................22 6.4 Closing Costs; Transfer Taxes.................................................................23
Title Assurance. At the Closing, Developer shall cause the Title Company at Investor's expense to furnish Investor with a UCC Search Report certified by the Secretary of State of the state in which the Property is located indicating that, as of the Closing Date, there are no filings against any of the Personal Property. At the Closing, Investor shall cause the Title Company to furnish the Company with the Owner's Policy in accordance with the final approved Title Commitment in an amount equal to the Title Policy Amount, wherein the Title Company shall insure that fee simple title to the Land and Improvements is vested in the Company, subject only to the Permitted Exceptions, together with such endorsements as may be reasonably required by Investor, and as are available in the state where the Property is located.
Title Assurance. Such information regarding the title of each mortgagor to the Mortgaged Properties and the priority of the Lien of the Mortgage as Party A may request (including, if requested by Party A, title opinions of counsel satisfactory to Party A with respect to Mortgaged Properties representing not more than 50% of the Forward Value of the Initial Reserve Collateral stating that such mortgagor has good and defensible title to such Mortgaged Properties, free and clear of all Liens other than Liens permitted by the Mortgages and subject only to such title defects as shall be acceptable to Party A).
Title Assurance. Following the Closing Date, Shareholders shall provide Buyer at Buyer’s expense with such reasonable cooperation as Buyer may request in connection with Buyer’s acquisition of extended coverage policies of title insurance insuring title to the Land to be in the applicable Acquired Entities, subject only to Permitted Encumbrances. Buyer shall pay all of the premiums and associated out-of-pocket costs relating to such title policies.
Title Assurance
