Title Evidence. Seller agrees to share equally with Buyer the closing agent costs and the cost of a title insurance company’s commitment and standard ALTA form owner’s policy (except survey matters) to the Property, showing a marketable title vested in Seller, subject to easements, restrictions, covenants, and other matters of record. Any endorsements shall be paid solely by Buyer. The title evidence shall be presented to prospective Buyer on day of auction. Buyer acknowledges: (a) receipt of the title commitment prior to entering into this agreement; (b) review of the title commitment to the Buyer’s full satisfaction; and (c) waiver of any right to object to any exceptions listed therein. If Seller fails to satisfy all such title requirements imposed on Seller pursuant to title commitment, Buyer may, as its sole remedy and at Buyer’s election, either: (a) cancel this agreement and receive a return of Buyer’s xxxxxxx money and, in that event, this Agreement will be canceled and the parties will have no further obligations to each other; or (b) accept such title as Seller can deliver. Buyer waives any right to seek specific performance or to seek damages from Seller.
Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the property. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreed.
Title Evidence. Evidence of title (title policy or title policy endorsement, as appropriate) insuring the lien of the Senior Security Instrument which insures that (i) the lien of the Subordinate Mortgage is subordinate to the lien of the Senior Mortgage, and (ii) this Agreement has been recorded among the applicable land records.
Title Evidence. Seller shall furnish Buyer title evidence covering the Property. Such title evidence shall be in the form of: (check one or both) SURFACE RIGHTS ABSTRACT (A below) TITLE INSURANCE COMMITMENT AND SURVEY (B below)
Title Evidence. The Seller shall cause to be furnished to Buyer, a title insurance company’s title binder to issue, after closing, a title insurance policy in an amount equal to the full purchase price naming Buyer as the insured. The title binder shall show marketable title vested in Seller, subject to: Encroachments which would be disclosed by survey, rights-of-way of record, trees, plantings and fences thereon; easements, restrictions and protective covenants of record, provided no forfeiture provisions are contained therein; special assessments, zoning laws, ordinances and regulations; rights of tenants in possession; the liens, if any, described therein; and those exceptions which are standard to American Land Title Association’s Form B or as specified herein. A copy of the title binder will be furnished to lender, listing broker, and selling broker as promptly as possible. In the event the land is to be used for new construction, the builder/Seller may receive builder discount if any. Buyer shall pay for any lender’s/mortgagee’s/Instrument holder’s title insurance coverage. Seller shall be responsible to use due diligence to resolve any title defects at Seller’s expense subject to the foregoing exceptions. Should the Seller be unable to furnish marketable title subject to the foregoing exceptions, the Buyer may, at Buyer’s option, waive such defect or terminate this agreement. If the Buyer elects to terminate, then the xxxxxxx money shall be refunded promptly to the Buyer and all parties shall be released from any further liability hereunder.
Title Evidence. Within twenty (20) days after the Effective Date, Buyer will obtain, at Buyer’s cost and expense, an ALTA Form B Commitment for an owner’s title insurance policy (the “Commitment”) issued by Chicago Title Insurance Company (the “Title Company”) through its agent, Holland & Knight LLP, in the face amount of the Purchase Price, evidencing whether Seller is vested with good and marketable record fee simple title to the Land, The Commitment will be accompanied by true, complete and legible copies of all documents creating or evidencing any exception to title noted in the Commitment. A copy of the Commitment will be delivered to Seller. The Commitment will evidence the requirements subject to which Title Company will insure in Buyer good and marketable record fee simple title to the Land subject only to those matters to be approved by Buyer during the Inspection Period (the “Permitted Exceptions”). If required by Buyer, the Commitment will provide that the policy to be issued pursuant thereto shall be accompanied by comprehensive, survey, access, patent, water and/or contiguity endorsements. In the event that the Commitment discloses that the title to the Land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes and any liens and encumbrances to be discharged by Seller through the payment of money at closing), Buyer may notify Seller of that fact in writing prior to the end of the Inspection Period. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications or defects listed in the Commitment which are not acceptable to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as “Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected to attempt to cure the Title Defects, or to terminate this Contract. If Seller elects to attempt to cure the Title Defects, he shall have until five (5) days before the last day of the Inspection Period to bring about the record cure or elimination of the Title Defects to the reasonable satisfaction of Buyer, its attorneys and Title Company in such manner as to permit Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain ...
Title Evidence. Seller, within days (Ten (10) days if left blank) prior to Closing Date, agrees to make available to Buyer Title Evidence as follows:
Title Evidence. RUS shall have received satisfactory evidence that the Awardee has good and marketable title to its property, including the Project, and holds such franchises, permits, leases, easements, rights, privileges, licenses, or right-of-way instruments, reasonably adequate in form and substance, as may be required by law for the continued maintenance and operation of the existing facilities and Project;
Title Evidence. Buyer may, at Buyer’s expense, within thirty (30) days after the Effective Date, obtain a title insurance commitment issued by a Florida licensed title insurer agreeing to issue to Buyer. If title is found defective in Buyer’s discretion, Buyer shall, within the Investigation Period, as defined in Paragraph 10 below, notify County in writing specifying defects. County will have sixty days (60) days from receipt of notice within which to remove the defects, failing which Buyer shall have the option of either accepting the title in its existing condition or terminating this Contract, whereupon Buyer and County shall release one another of all further obligations under the Contract. Notwithstanding the preceding nothing contained herein shall require the County to file any lawsuits, to otherwise incur any expenditure, or to take any affirmative action to cure title defects. Any title matter that is not timely objected to by Buyer as provided for in this Section 4 shall be deemed to be accepted by Buyer.
Title Evidence. The party who pays for the owner’s title insurance policy will select the closing agent and pay 102 for the title search, including tax and lien search (including municipal lien search) if performed, and all other 103 fees charged by closing agent. Seller will deliver to Buyer, at 104 (Check one) □ Seller’s □ Buyer’s expense and 105 (Check one) □ within days after Effective Date □ at least days before Closing Date, 106 (Check one) 107 (1) □ a title insurance commitment by a Florida licensed title insurer setting forth those matters to be 108 discharged by Seller at or before closing and, upon Buyer recording the deed, an owner’s policy in the 109 amount of the purchase price for fee simple title subject only to the exceptions stated above. If Buyer is 110 paying for the owner’s title insurance policy and Seller has an owner’s policy, Seller will deliver a copy to 111 Buyer within 15 days after Effective Date. 112 (2) □ an abstract of title, prepared or brought current by an existing abstract firm or certified as correct by an 113 existing firm. However, if such an abstract is not available to Seller, then a prior owner’s title policy 114 acceptable to the proposed insurer as a base for reissuance of coverage may be used. The prior policy will 115 include copies of all policy exceptions and an update in a format acceptable to Buyer from the policy 116 effective date and certified to Buyer or Buyer’s closing agent together with copies of all documents 117 recited in the prior policy and in the update. If such an abstract or prior policy is not available to Seller, 118 then (1) above will be the title evidence.
