Common use of Title Binder Clause in Contracts

Title Binder. Buyer has obtained a preliminary commitment and supplemental report for an ALTA owner’s standard coverage title insurance policy (title order no. NCS-657443-WA1 dated 10/24/2014, as supplemented), issued by First American Title Insurance Company (“Title Company”) describing the Property, showing all matters pertaining to the Port Property and listing Buyer as the prospective named insured. Following the mutual execution of this Agreement, Buyer may obtain from Title Company at Buyer’s sole cost additional written supplemental report to such preliminary commitment, in a form acceptable to Buyer, updating the preliminary commitment to the execution date of the Agreement. Such preliminary commitment, supplemental reports and true, correct and legible copies of all documents referred to in such preliminary commitment and supplemental reports as conditions or exceptions to title to the Property are collectively referred to herein as the “Title Binder.”

Title Binder. Buyer has obtained a preliminary commitment and supplemental report for an ALTA owner’s standard coverage title insurance policy (title order no. NCS-657443-WA1 00125265, dated 10/24/2014December 17, 2007, as supplemented), issued by First American Chicago Title Insurance Company (“Title Company”) describing the Property, showing all matters pertaining to the Port Property and listing Buyer as the prospective named insured. Following the mutual execution of this Agreement, Buyer may shall obtain from Title Company at Buyer’s sole cost additional a written supplemental report to such preliminary commitment, in a form acceptable to Buyer, updating the preliminary commitment to the execution date of the Agreement. Such preliminary commitment, supplemental reports and true, correct and legible copies of all documents referred to in such preliminary commitment and supplemental reports as conditions or exceptions to title to the Property are collectively referred to herein as the “Title Binder.”