Title Commitment and Policy. Within ten (10) days of the date hereof and, in any event, at least twenty (20) days prior to the Closing Date, Seller shall order and obtain, and deliver to Purchaser, at Seller’s expense, a current commitment for extended coverage title insurance in the amount of the Purchase Price, together with legible copies of all documents listed as exceptions therein, and a current certificate of taxes due with respect to the Property, from a title company selected by Seller, and reasonably acceptable to Purchaser, authorized to issue title insurance in the state of Colorado (the “Title Company”), on the current standard form of extended ALTA Owners Policy (collectively, the “Title Commitment”). The Title Company shall promptly provide copies of any amendments or modifications of the Title Commitment to Purchaser. Purchaser shall have the right to review the Title Commitment and the title documents and notify Seller in writing of any title objections to the title exceptions set forth in the Title Commitment. Seller shall have five (5) days from receipt of notice of such objections within which to eliminate or modify (or agree in writing to so eliminate or modify) any such unacceptable exceptions to the reasonable satisfaction of Purchaser, but Seller shall have no obligation whatsoever to so eliminate or modify any such unacceptable exceptions. In the event that Seller is unable or unwilling to eliminate or modify (or agree in writing to so eliminate or modify) such unacceptable exceptions to the reasonable satisfaction of Purchaser on or before the expiration of said five (5) day period, Seller shall notify Purchaser in writing of such fact within said five (5) day period or be deemed to have so notified Purchaser with respect to all such unacceptable exceptions not theretofore cured upon the fifth (5th) day of said period. In such event, Purchaser shall, prior to the Closing Date either (i) waive such objections and accept title to the Property subject to title exceptions set forth in the Title Commitment (the “Permitted Exceptions”), or (ii) terminate this Agreement by written notice to Seller, whereupon this Agreement shall automatically be terminated and of no further force and effect, except as otherwise expressly set forth herein. At Closing or as soon as reasonably practicable after Closing, the Title Company shall issue and deliver to Purchaser the owner’s title insurance policy referred to above (the “Title Policy”), issued by the Title Company insuring P...
Title Commitment and Policy. Prior to the Closing Date (as defined in Paragraph 5 below) Seller shall order and obtain, at Seller’s expense, a current commitment for extended coverage title insurance in the amount of One Hundred Twenty-Five Thousand Dollars ($125,000.00), together with legible copies of all documents listed as exceptions therein, and a current certificate of taxes due with respect to the Property, from a title company selected by Seller authorized to issue title insurance in the state of Colorado (the “Title Company”), on the current standard form of extended ALTA Title Policy (collectively, the “Title Commitment”). The Title Company shall promptly provide copies of any amendments or modifications of the Title Commitment to Buyer. At Closing or as soon as reasonably practicable after Closing, the Title Company shall issue and deliver to Buyer a title insurance policy referred to above (the “Title Policy”), issued by the Title Company insuring Buyer’s title to the Property, consistent with the Title Commitment, providing “gap” coverage, deleting the standard exceptions, endorsing over arbitration exceptions (to the extent the Title Company will so agree), if necessary, and subject only to taxes and assessments for the year of Closing and subsequent years, and the other matters approved by Buyer in accordance with subparagraph (b) below and any encumbrances upon the Property caused by Buyer (the “Permitted Exceptions”). At Closing, Seller shall pay the premium for the Title Policy. Buyer may obtain such other endorsements to the Title Policy as Buyer desires, at the expense of Buyer, except for endorsements obtained at Seller’s cost, as provided in subparagraph (b) below. Seller shall provide such affidavits or certificates as may be required by the Title Company to remove all liens, including, without limitation, mechanics’ or materialmen’s liens, as exceptions to the Title Policy.
Title Commitment and Policy. Seller has provided to Buyer a title commitment from the Title Company for the issuance of a Title Policy on the Timberlands (the “Title Commitment”). Buyer acknowledges that, as of the date of this Agreement, Buyer has been provided with the Title Commitment (without implying that such Title Commitment satisfies the requirements for the Title Policy set forth on Schedule A), but not a Completed Title Commitment. Seller shall use commercially reasonable efforts to obtain (or cause the Title Company to obtain) a legible copy of the vesting deed and recorded documentary exception and appurtenance referred to in the Title Commitment and to cooperate with Buyer in its efforts to obtain the same. At or prior to Closing, Seller shall satisfy all of the requirements set forth in Schedule B - Section 1 and I of the Title Commitment that are specifically applicable to Seller or that Seller has otherwise agreed to pay or perform in accordance with the provisions of this Agreement. At or prior to Closing, Buyer shall satisfy all of the requirements set forth in Schedule B - Section 1 and I of the Title Commitment as of the date hereof that are specifically applicable to Buyer or that Buyer has otherwise agreed to pay or perform in accordance with the provisions of this Agreement. For purposes of this Agreement, any requirements set forth in Schedule B - Section 1 and I of the Title Commitment that refer to Rayonier Operating Company LLC shall be deemed to refer to the applicable Buyer Subsidiary.
Title Commitment and Policy. Prior to the Closing Date (as defined in Paragraph 5 below) Seller shall order and obtain, at Seller’s expense, a current commitment for extended coverage title insurance in the amount of $50,000.00, together with legible copies of all documents listed as exceptions therein, and a current certificate of taxes due with respect to the Property, from a title company selected by Buyer and reasonably acceptable to Seller authorized to issue title insurance in the State of Colorado (the “Title Company”), on the current standard form of extended ALTA Owners Policy (collectively, the “Title Commitment”). The Title Company shall promptly provide copies of any amendments or modifications of the Title Commitment to Buyer and Seller. At Closing or as soon as reasonably practicable after Closing, the Title Company shall issue and deliver to Buyer the owner’s title insurance policy referred to above (the “Title Policy”), issued by the Title Company insuring Buyer’s title to the Property consistent with the Title Commitment and subject only to taxes and assessments for the year of Closing and subsequent years. At Closing, Seller shall pay the premium for the Title Policy. Buyer may obtain such other endorsements to the Title Policy as Buyer desires, at the expense of Xxxxx. Seller shall provide such affidavits or certificates as may be required by the Title Company to remove all liens, including, without limitation, mechanics’ or materialmen’s liens, as exceptions to the Title Policy.
Title Commitment and Policy. Seller has furnished and delivered to Karrington in form acceptable to Karrington, a current Owner's Title Insurance Commitment (form ALTA 1966), together with copies of all documents referred to therein (the "Title Commitment").
Title Commitment and Policy. Buffalo Hills Residence, has furnished and delivered to Karrington in form acceptable to Karrington, a current Owner's Title Insurance Commitment (form ALTA 1966), together with copies of all documents referred to therein (the "Title Commitment").
Title Commitment and Policy. Within five (5) days after the Effective Date, Seller, at its sole cost and expense, shall provide Purchaser with a commitment for an owner's policy of title insurance ("Title Commitment"), issued by Title Company and containing the agreement of the Title Company to issue an owner's policy of title insurance (ALTA Form 1992) insuring fee simple title to the Property in the name of Purchaser or its assignee or designee upon delivery of a special warranty deed therefor from Seller to Purchaser, together with such endorsements as Purchaser shall require, including non-imputation, Fairway, Zoning, separate Tax Parcel, Subdivision Act, ALTA 0, Xxxxxx Xxxxxx Xxxxxx, Xxx, waiver of arbitration and contiguity; provided that Seller shall not be required to provide any indemnity agreement to the Title Company in connection with any endorsements except with respect to non-imputation and Gap and as may be contained in the Vendor's Affidavit. Seller's obligation to pay for the Title Commitment is limited to the portion of the title company charges attributable to the title search, not the title insurance, closing or recording fees, or other incidental expenses requested by Purchaser, all of which are the responsibility of Purchaser. The Title Commitment shall set forth the state of title to the Property, together with all exceptions or conditions to such title, including, but not limited to, all easements, restrictions, rights-of-way, covenants, reservations and all other liens and encumbrances affecting the Property which would appear in an owner's policy of title insurance issued pursuant to the Title Commitment and shall set forth the Title Company's requirements for issuing such owner's policy of title insurance with extended coverage (i.e., without standard pre-printed exceptions). Purchaser shall receive with the Title Commitment legible copies of the exceptions set forth therein and the most recent tax bills for the Property. The Title Commitment shall contain the commitment of the Title Company to insure title in the name of the Purchaser for the full amount of the Purchase Price, provided, however, Purchaser shall pay the cost of any endorsements to the Commitment that Purchaser may desire. The title policy to be issued pursuant to the Title Commitment shall be issued at Closing in a "New York style" closing.
Title Commitment and Policy. Seller will furnish Buyer with copies of any Title Insurance Policies and Surveys covering Locations held in fee by Seller. Buyer may, at its own cost and expense, obtain an Owner's Title Insurance Policy and/or Survey. Buyer shall have ten (10) days from the date of receipt of title policy commitments to object to any matter involving title to any Location. Should Buyer fail to object to any such matter, Buyer shall be deemed to have accepted same and it will become a Permitted Exception. Seller may, within ten (10) days after receipt of objections by Buyer to any matter involving title to a Location, have items to which Buyer validly objects cured or removed, but Seller shall not be required to do so. In the event Seller fails to cure any matter to which Buyer validly objects, Buyer may elect to cancel and terminate this Agreement with respect to that particular Location and the Purchase Price shall be reduced by the amount set forth on Schedule "A" for such location.
Title Commitment and Policy. CKMI Partnership has furnished and delivered to Karrington in form acceptable to Karrington, a current Owner's Title Insurance Commitment (form ALTA 1966), together with copies of all documents referred to therein (the "Title Commitment").
Title Commitment and Policy. As provided in Section B.7 of the Development Agreement, Seller shall deliver to Purchaser a title commitment showing Seller’s merchantable title in the Property, a Commitment for Title Insurance issued by a title insurance company regularly doing business in the county where the Property is located, and committing the company to issue an ALTA policy insuring title to the Property in Buyer for the amount established under Section B.7 of the Development Agreement.
