Common use of TITLE INSPECTION PERIOD Clause in Contracts

TITLE INSPECTION PERIOD. Purchaser shall have an opportunity to review a current commitment for title insurance provided by Seller (the “Commitment”), the Survey and any legible copies of documents evidencing exceptions in the Commitment (“Exception Documents”), and notify Seller in writing of any objections to defects, encumbrances or exceptions to title (“Title Defects”). Seller shall have no obligation to remove or cure Title Defects, except for the Liens (as hereinafter defined), which Liens Seller shall cause to be released at the Closing or affirmatively insured over by the title company. If Seller fails or elects not to cure any of Purchaser’s objections, or if for any other reason Purchaser chooses not to purchase the Property, Purchaser may terminate this Agreement by delivering written notice. As used in this Agreement, the term “Permitted Exceptions” shall mean the specific exceptions in the Title Commitment that Seller has not removed pursuant to this Section and that Purchaser has not objected to or waived objection. Notwithstanding anything to the contrary in this Section 2(d), Xxxxxx does agree to discharge, at or prior to Closing, any liens encumbering the Property, including, without limitation, mortgage liens, security interests, tax liens, abstracts of judgment, environmental liens, and materialmen’s and mechanic’s liens (collectively, the “Liens”).

TITLE INSPECTION PERIOD. Purchaser shall have an opportunity to review a current commitment for title insurance provided by Seller (the “Commitment”), the Survey Survey, and any legible copies of documents evidencing exceptions in the Commitment (“Exception Documents”), and notify Seller in writing of any objections to defects, encumbrances encumbrances, or exceptions to title (collectively, “Title Defects”). Seller shall have no obligation to remove or cure Title Defects, except for the Liens (as hereinafter defined), which Liens Seller shall cause to be released at the Closing or affirmatively insured over by the title company. If Seller fails or elects not to cure any of Purchaser’s objections, or if for any other reason Purchaser chooses not to purchase the Property, Purchaser may terminate this Agreement by delivering written notice. As used in this Agreement, the term “Permitted Exceptions” shall mean the specific exceptions in the Title Commitment that Seller has not removed pursuant to this Section and that Purchaser has not objected to or has waived the objection. Notwithstanding anything to the contrary in this Section 2(d), Xxxxxx does agree to discharge, Seller shall discharge (at or prior to Closing, or within a reasonable time thereafter) any liens encumbering the Property, including, without limitation, mortgage liens, security interests, tax liens, abstracts of judgment, environmental liens, and materialmen’s and mechanic’s liens (collectively, the “Liens”).

TITLE INSPECTION PERIOD. Purchaser shall have an opportunity to review a current commitment for title insurance provided by Seller (the “Commitment”), the Survey Survey, and any legible copies of documents evidencing exceptions in the Commitment (“Exception Documents”), and notify Seller in writing of any objections to defects, encumbrances encumbrances, or exceptions to title (collectively, “Title Defects”). Seller shall have no obligation to remove or cure Title Defects, except for the Liens (as hereinafter defined), which Liens Seller shall cause to be released at the Closing or affirmatively insured over by the title company. If Seller fails or elects not to cure any of Purchaser’s objections, or if for any other reason Purchaser chooses not to purchase the Property, Purchaser may terminate this Agreement by delivering written notice. As used in this Agreement, the term “Permitted Exceptions” shall mean the specific exceptions in the Title Commitment that Seller has not removed pursuant to this Section and that Purchaser has not objected to or has waived the objection. Notwithstanding anything to the contrary in this Section 2(d), Xxxxxx does agree to Seller shall discharge, at or prior to Closing, any liens encumbering the Property, including, without limitation, mortgage liens, security interests, tax liens, abstracts of judgment, environmental liens, and materialmen’s and mechanic’s liens (collectively, the “Liens”).

TITLE INSPECTION PERIOD. Purchaser shall have an opportunity to review a current commitment for title insurance provided by Seller (the “Commitment”), the Survey and any legible copies of documents evidencing exceptions in the Commitment (“Exception Documents”), and notify Seller in writing of any objections to defects, encumbrances or exceptions to title (“Title Defects”). Seller shall have no obligation to remove or cure Title Defects, except for the Liens (as hereinafter defined), which Liens Seller shall cause to be released at the Closing or affirmatively insured over by the title company. If Seller fails or elects not to cure any of Purchaser’s objections, or if for any other reason Purchaser chooses not to purchase the Property, Purchaser may terminate this Agreement by delivering written notice. As used in this Agreement, the term “Permitted Exceptions” shall mean the specific exceptions in the Title Commitment that Seller has not removed pursuant to this Section and that Purchaser has not objected to or waived objection. Notwithstanding anything to the contrary in this Section 2(d), Xxxxxx Seller does agree to discharge, at or prior to Closing, any liens encumbering the Property, including, without limitation, mortgage liens, security interests, tax liens, abstracts of judgment, environmental liens, and materialmen’s and mechanic’s liens (collectively, the “Liens”).