Title Inspection. The Purchaser shall have the period commencing on the Effective Date and ending thirty (30) days following receipt of the Property Documents at 5:00 p.m. Central Time (the “Inspection Period”) to examine title to the Property and to make objections thereto, such objections to be made in writing (“Purchaser’s Title Notice”) and delivered to Seller on or before the date that is ten (10) days prior to the expiration of the Inspection Period; provided that to the extent Purchaser shall have not had sufficient time to review the Survey prior to delivery of the Purchaser’s Title Notice, Purchaser shall have the right to supplement Purchaser’s Title Notice so long as such supplement is delivered no later than the date that is five (5) days prior to the expiration of the Inspection Period. Following receipt of the Property Documents, the parties (directly or through their respective counsel) shall confirm the expiration date of the Inspection Period via email. If Purchaser shall fail to timely make any objections to title pursuant to this Section 4.3 or waives objections to title, Purchaser shall be deemed to have accepted title to the Property. If any objections to title are timely made by Purchaser pursuant to this Section 4.3, then Seller shall have the right, but not the obligation, to cure (by removal, and if reasonably acceptable to Purchaser, by endorsement of Purchaser’s title insurance policy or otherwise) any or all of such objections on or before the Closing Date. Seller shall make the aforesaid election by giving notice to Purchaser on or before the date which is five (5) business days after receipt of Purchaser’s Title Notice. If no such notice from Seller concerning such election is received by Purchaser by such date, then Seller shall be deemed to have elected not to cure any such objections. If Seller does not elect to cure any of Purchaser’s title objections, then Purchaser shall have the right prior to the expiration of the Inspection Period to either (a) waive the objections noted in Purchaser’s Title Notice or (b) terminate this Agreement pursuant to Section 4.6, in which event the Initial Xxxxxxx Money and all interest thereon will be returned to Purchaser and neither party shall have any further obligations to the other party. If Purchaser does not so elect to terminate this Agreement, then Purchaser shall be deemed to have waived such objections and any objections that Seller has not agreed to cure shall be deemed to be “Permitted Exceptions...
Title Inspection. 8 Section 2.2 Pre-Closing "Gap" Title Defects.......................... 8 Section 2.3
Title Inspection. Purchaser acknowledges and agrees that (a) Seller has furnished to Purchaser prior to the Effective Date: (i) a current preliminary title report, Title Number 3008-123895, dated June 19, 2006 and any amendments thereto (the "Title Commitment") issued by First American Title Insurance Company of New York on the Real Property, accompanied by copies of all documents referred to in the report; (ii) a copy of the land title survey (the "Survey") prepared by Joseph Nicoletti Associates Land Surveyors P.C. dated August 3, 2006, xxx xxx Xxxx xxd the Improvements; and (iii) copies of the most recent property tax bills for the Property; (b) Purchaser has had an opportunity, prior to the Effective Date, to order its own title report and survey for the Land and Improvements; and (c) any and all matters (the "Existing Title and Survey Matters") referred to, reflected in or disclosed by, the materials referred to in the marked Title Commitment attached hereto as Exhibit V and the Survey, inclusive, have been agreed to and accepted by Purchaser and that, as of the Effective Date, Purchaser has approved the Existing Title and Survey Matters and the Existing Title and Survey Matters shall constitute Permitted Exceptions.
Title Inspection. Prior to Closing, Buyer may complete a review of title to the Real Property and the Property Rights.
Title Inspection. (a) Each Seller shall make available to Purchaser within three (3) Business Days after the Effective Date hereof (i) a copy of its respective Company’s existing owner’s title insurance policy for is respective Property, and (ii) the most recent survey of the Real Property owned by such Company in the possession of such Seller or its respective Company (each an “Existing Survey”).
(b) During the Inspection Period, Purchaser shall (a) obtain a current title commitment for each Property (“Title Commitment”) issued by Chicago Title Insurance Company or another reputable title company selected by Purchaser (the “Title Company”) for the issuance of a ALTA owner’s title insurance policy (or a TLTA policy with regard to Properties located in Texas), including extended coverage, with respect to each Real Property and (b) obtain with respect to each of the Completed Properties an update of each Existing Survey or a new ALTA survey (the “ALTA Survey”) of the Real Property comprising part of each Completed Property prepared by a surveyor or surveying firm, licensed by the state in which the applicable Real Property is located (the “Surveyor”). With respect to each Non-Completed Property, Purchaser shall have the right to delay obtaining an ALTA Survey with respect to such Property until Substantial Completion of such Property occurs, in which event any objections Purchaser may have with respect to such ALTA Survey shall be subject to Section 3.3(b) below.
Title Inspection. First American Title Insurance Company has delivered to ---------------- Buyer a preliminary report or title commitment covering the Property (the "Title Report"), together with copies of all documents (collectively, the "Title Documents") referenced in the Title Report. In addition, Buyer has received or will receive an updated, recertified or new survey of the Property. In addition, Buyer shall have updates to the Title Report and a Title Policy prepared covering periods through the Closing Date. Buyer shall provide to Seller its objections to seller's title revealed by the Title Report, Title Documents, Title Policy, survey and any update to any of the foregoing. Without limiting the foregoing, Buyer shall have the right to object to any encumbrances affecting the title arising as a matter of law (such as a lien) or which were filed in the conveyance and mortgage records of the Clerk of Court for the parish where the Property is located and arising after the effective dates of the Title Report, Title Policy, and any updates. Seller shall, at Seller's sole cost and expense, promptly undertake to correct all objections; provided, however, Seller shall have no obligation to expend more than $5,000.00 to cure such title objections. Further, such title objections may be cured by Seller causing First American Title Insurance Company to provide affirmative title insurance over such claims in a manner satisfactory to Buyer.
Title Inspection. Title to the Items shall pass directly from Supplier to CBRE at the f.o.b. point indicated in this Agreement, or as otherwise specified in this Agreement, subject to CBRE’s right to reject upon inspection. Items are subject to inspection and test by CBRE at all times and places, including during the period of manufacture, and in any event, at any time, prior to final acceptance. CBRE reserves the right to audit the Supplier’s facility and quality procedures to ensure that items meet CBRE’s quality requirements. Items are not accepted by reason of any preliminary inspection or payment of any invoice. If rejected or required to be corrected, Items shall be either replaced or corrected by and at the expense of Supplier as directed by CBRE.
Title Inspection. Buyer shall have until October 21, 1997 to review the Survey, the UCC Report, the Title Commitment and all of the other diligence items described in Articles III and IV hereof, all of which shall be deemed approved by Buyer if Buyer does not elect to terminate this Agreement in accordance with Section 4.1, below.
Title Inspection. Purchaser, at Seller's expense, as set forth in Section 2(c) of this Agreement shall obtain the following documents:
(i) a title commitment to issue a 1999 Form B Owner's title policy with extended coverage and all of Purchaser's required endorsements ("Title Commitment") from the Title Company, setting forth the condition of the title to the Property, and any exception thereto, as of the Effective Date;
(ii) copies of all of the recorded exceptions described in the Title Commitment ("Title Documents"); and
(iii) Seller's existing "as built" survey of the Property. Prior to Closing, Seller agrees to deliver an update to the existing survey, which update (the "Survey") shall be currently dated and be certified to the Purchaser, its successors and assigns and the Title Company as an ALTA/ACSM 1999 Survey and which will include all minimum standards detail requirements for ALTA/ACSM Land Title Surveys and all Table A Options and Responsibilities (other than topography) and which will reflect changes to the portion of the Property formerly leased by Kmart, including related parking areas, caused by the remodeling of such area.
Title Inspection. Section 3.2.
