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.
Appears in 4 contracts
Samples: Contract for Sale and Purchase, Contract for Sale and Purchase, Sale and Purchase Agreement
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, time provided for Buyer’s investigation as defined provided in Paragraph 10 belowSection 6, 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 as it then is or terminating this Contract, whereupon Buyer and County shall release one another of all further obligations under the Contract. Notwithstanding the preceding 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 7 shall be deemed to be accepted by Buyer. The Closing date shall be automatically extended by sixty (60) days upon receipt of notice of defects.
Appears in 2 contracts
Samples: Contract for Sale and Purchase, Contract for Sale and Purchase
Title Evidence. a. 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. .
b. If title is found defective in Buyer’s discretion, Buyer shall, within the Investigation Period, as defined in Paragraph 10 11 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 as it then is 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.
Appears in 2 contracts
Samples: Contract for Sale and Purchase, Contract for Sale and Purchase
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 defectsdefects (“Cure Period”), 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.
Appears in 1 contract
Samples: Contract for Sale and Purchase
Title Evidence. A. 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. .
B. If title is found defective in Buyer’s discretion, Buyer shall, within the Investigation Period, as defined in Paragraph 10 12 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 as it then is 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.
Appears in 1 contract
Samples: Contract for Sale and Purchase
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 11 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 as it then is 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.
Appears in 1 contract
Samples: Contract for Sale and Purchase