Common use of Title Insurance and Survey Clause in Contracts

Title Insurance and Survey. (a) Simultaneously with the execution of this Agreement, Seller has provided to Buyer a copy of the title insurance commitment for the Commercial Tract provided to Seller by Sunbelt, together with any available copies of exceptions to title. Buyer shall obtain an owner's marketable title insurance commitment issued by a recognized title insurance company acceptable to Buyer. The owner's marketable title policy premium and title search fee shall be paid by Buyer at the Closing. (b) If the status of title as shown in the title commitment or the survey contains any defects to which Buyer objects, Buyer shall advise Seller in writing, not later than ten (10) days prior to closing (except with respect to any defects shown in any updates thereafter), of the defects to which Buyer objects. Seller shall have a reasonable time, not to exceed thirty (30) days, in which to cure the defects and the Closing shall be extended accordingly. If, after the expiration of said thirty (30) day cure period, the title defects have not been cured, then Buyer shall have the option of (i) accepting title; or (ii) terminating this Agreement by written notice to Seller, whereupon neither party shall have any further rights or obligations under this Agreement. Without limiting Buyer's rights hereunder, Seller shall eliminate at Closing any mortgages, liens or other encumbrances affecting the Property which may be removed or satisfied by the payment of a liquidated sum of money.

Title Insurance and Survey. Buyer's counsel shall order the Title Insurance Commitment and Survey (aSeller agreeing to furnish to Buyer copies of any existing surveys and title information in its possession) Simultaneously with the promptly after execution of this Agreement, Seller has provided to ). Buyer a copy of shall use Chicago Title Insurance Company for the title insurance commitment and Xxxxxx & Associates, Inc., Land Development Consultants, the surveyor who prepared Seller's existing survey, for the Commercial Tract provided to Seller by Sunbelt, together with any available copies of exceptions to titlesurvey. Buyer shall obtain an owner's marketable title insurance commitment issued by a recognized title insurance company acceptable to Buyer. The owner's marketable title policy premium and title search fee shall be paid by Buyer at the Closing. (b) If the status of title as shown in the title commitment or the survey contains any defects to which Buyer objects, Buyer shall advise Seller in writing, not later than will have ten (10) days prior to closing (except with respect to any defects shown in any updates thereafter), from receipt of the defects Title Commitment (including legible copies of all recorded exceptions noted therein) and Survey, but not later than the end of the Inspection Period, to notify Seller in writing of any Title Defects, encroachments or other matters not acceptable to Buyer which Buyer objectsare not permitted by this Agreement. Any Title Defect or other objection disclosed by the Title Insurance Commitment (other than liens removable by the payment of money) or the Survey which is not timely specified in Buyer's written notice to Seller of Title Defects shall be deemed a Permitted Exception. Seller shall have a reasonable timenotify Buyer in writing within five (5) days of Buyer's notice if Seller intends to cure any Title Defect or other objection. If Seller elects to cure, not to exceed thirty (30) days, in which Seller shall use diligent efforts to cure the defects and Title Defects and/or objections by the Closing shall Date (as it may be extended accordinglyextended). If, after the expiration of said thirty (30) day If Seller elects not to cure period, the title defects have or if such Title Defects and/or objections are not been cured, then Buyer shall have the option right, in lieu of any other remedies, to: (i) accepting titlerefuse to purchase the Property, terminate this Agreement and receive a return of the Xxxxxxx Money Deposit; or (ii) terminating this Agreement by written notice to Seller, whereupon neither party shall have any further rights or obligations under this Agreement. Without limiting Buyer's rights hereunder, Seller shall eliminate at Closing any mortgages, liens or other encumbrances affecting waive such Title Defects and/or objections and close the purchase of the Property which may be removed or satisfied by the payment of a liquidated sum of moneysubject to them.

Title Insurance and Survey. Prior to the end of the Inspection Period Buyer's counsel shall order the Title Insurance Commitment and a Survey (a) Simultaneously with the Seller agreeing to furnish to Buyer copies of any existing surveys and title information in its possession promptly after execution of this Agreement, Seller has provided to Buyer a copy of the title insurance commitment for the Commercial Tract provided to Seller by Sunbelt, together with any available copies of exceptions to title). Buyer shall obtain an owner's marketable title insurance commitment issued by a recognized title insurance company acceptable to Buyer. The owner's marketable title policy premium and title search fee shall be paid by Buyer at the Closing. (b) If the status of title as shown in the title commitment or the survey contains any defects to which Buyer objects, Buyer shall advise Seller in writing, not later than will have ten (10) days prior to closing (except with respect to any defects shown in any updates thereafter), from receipt of the defects Title Commitment (including legible copies of all recorded exceptions noted therein) and Survey to notify Seller in writing of any Title Defects, encroachments or other matters not acceptable to Buyer which Buyer objectsare not permitted by this Agreement. Any Title Defect or other objection disclosed by the Title Insurance Commitment (other than liens removable by the payment of money) or the Survey which is not timely specified in Buyer's written notice to Seller of Title Defects shall be deemed a Permitted Exception. Seller shall have a reasonable timenotify Buyer in writing within five (5) days of Buyer's notice if Seller intends to cure any Title Defect or other objection. If Seller elects to cure, not to exceed thirty (30) days, in which Seller shall use diligent efforts to cure the defects and Title Defects and/or objections by the Closing shall Date (as it may be extended accordinglyextended). If, after the expiration of said thirty (30) day If Seller elects not to cure period, the title defects have or if such Title Defects and/or objections are not been cured, then Buyer shall have the option right, in lieu of any other remedies, to: (i) accepting title; or (ii) terminating refuse to purchase the Property, terminate this Agreement by written notice to Seller, whereupon and receive a return of the Xxxxxxx Money Deposit in which event neither party shall have any further rights rights, duties, obligations or obligations under liabilities hereunder except those which are intended to survive termination of this Agreement. Without limiting Buyer's rights hereunder, Seller shall eliminate at Closing any mortgages, liens ; or other encumbrances affecting (ii) waive such Title Defects and/or objections and close the purchase of the Property which may be removed or satisfied by the payment of a liquidated sum of moneysubject to them.

Title Insurance and Survey. (a) Simultaneously with Prior to the execution of this Agreement, Seller has provided to Buyer a copy end of the title insurance commitment for Inspection Period Buyer's counsel shall order the Commercial Tract provided to Title Insurance Commitment and a Survey (Seller by Sunbelt, together with any available having furnished Buyer copies of exceptions to titleexisting surveys and other title information in its possession). Buyer shall obtain an owner's marketable title insurance commitment issued by a recognized title insurance company acceptable to Buyer. The owner's marketable title policy premium and title search fee shall be paid by Buyer at the Closing. (b) If the status of title as shown in the title commitment or the survey contains any defects to which Buyer objects, Buyer shall advise Seller in writing, not later than will have ten (10) days prior to closing (except with respect to any defects shown in any updates thereafter), from receipt of the defects Title Commitment (including legible copies of all recorded exceptions noted therein) and Survey to notify Seller in writing of any Title Defects, encroachments or other matters not acceptable to Buyer which Buyer objectsare not permitted by this Agreement. Any Title Defect or other objection disclosed by the Title Insurance Commitment (other than liens removable by the payment of money) or the Survey which is not timely specified in Buyer's written notice to Seller of Title Defects shall be deemed a Permitted Exception. Seller shall have a reasonable timenotify Buyer in writing within five (5) days of Buyer's notice if Seller intends to cure any Title Defect or other objection. If Seller elects to cure, not to exceed thirty (30) days, in which Seller shall use diligent efforts to cure the defects and Title Defects and/or objections by the Closing shall Date (as it may be extended accordinglyextended). If, after the expiration of said thirty (30) day If Seller elects not to cure period, the title defects have or if such Title Defects and/or objections are not been cured, then Buyer shall have the option right, in lieu of any other remedies, to: (i) accepting titlerefuse to purchase the Property, terminate this Agreement and receive a return of the Xxxxxxx Money Deposit; or (ii) terminating this Agreement by written notice to Seller, whereupon neither party shall have any further rights or obligations under this Agreement. Without limiting Buyer's rights hereunder, Seller shall eliminate at Closing any mortgages, liens or other encumbrances affecting waive such Title Defects and/or objections and close the purchase of the Property which may be removed or satisfied by the payment of a liquidated sum of moneysubject to such Title Defects.

Title Insurance and Survey. Prior to the end of the Inspection Period Buyer's counsel shall order the Title Insurance Commitment and a Survey (a) Simultaneously with the Seller agreeing to furnish to Buyer copies of any existing surveys and title information in its possession promptly after execution of this Agreement, Seller has provided to Buyer a copy of the title insurance commitment for the Commercial Tract provided to Seller by Sunbelt, together with any available copies of exceptions to title. Buyer shall obtain an owner's marketable title insurance commitment issued by a recognized title insurance company acceptable to Buyer. The owner's marketable title policy premium and title search fee shall be paid by Buyer at the Closing. (b) If the status of title as shown in Agreement including the title commitment or and survey furnished by Faison under the survey contains any defects to which Faison Contract). The title xxxxxnce will alxx xxxlude copies of restrictive covenants imposed on lands lying between the Shopping Center and US Highway 17. Buyer objects, Buyer shall advise Seller in writing, not later than will have ten (10) days prior to closing (except with respect to any defects shown in any updates thereafter), from receipt of the defects Title Commitment (including legible copies of all recorded exceptions noted therein) and Survey to notify Seller in writing of any Title Defects, encroachments or other matters (including the said restrictive covenants) not acceptable to Buyer. Any Title Defect or other objection disclosed by the Title Insurance Commitment (other than liens removable by the payment of money) or the Survey which Buyer objectsis not timely specified in Buyer's written notice to Seller of Title Defects shall be deemed a Permitted Exception. Seller shall have a reasonable timenotify Buyer in writing within five (5) days of Buyer's notice if Seller intends to cure any Title Defect or other objection. If Seller elects to cure, not to exceed thirty (30) days, in which Seller shall use diligent efforts to cure the defects and Title Defects and/or objections by the Closing shall Date (as it may be extended accordinglywith Seller's and Buyer's agreement). If, after the expiration of said thirty (30) day If Seller elects not to cure period, the title defects have or if such Title Defects and/or objections are not been cured, then Buyer shall have the option right, in lieu of any other remedies, to: (i) accepting titlerefuse to purchase the Property, terminate this Agreement and receive a return of the Earnest Money Deposit; or (ii) terminating this Agreement by written notice to Seller, whereupon neither party shall have any further rights or obligations under this Agreement. Without limiting Buyer's rights hereunder, Seller shall eliminate at Closing any mortgages, liens or other encumbrances affecting waive such Tixxx Xxxects and/or objections and close the purchase of the Property which may be removed or satisfied by the payment of a liquidated sum of moneysubject to such Title Defects.

Title Insurance and Survey. Promptly after the full execution hereof Buyer's counsel shall order the Title Insurance Commitment and a Survey (a) Simultaneously with the Seller agreeing to furnish to Buyer copies of any existing surveys and title information in its possession promptly after execution of this Agreement, Seller has provided to Buyer a copy of the title insurance commitment for the Commercial Tract provided to Seller by Sunbelt, together with any available copies of exceptions to title). Buyer shall obtain an owner's marketable title insurance commitment issued by a recognized title insurance company acceptable to Buyer. The owner's marketable title policy premium and title search fee shall be paid by Buyer at the Closing. (b) If the status of title as shown in the title commitment or the survey contains any defects to which Buyer objects, Buyer shall advise Seller in writing, not later than will have ten (10) days prior to closing (except with respect to any defects shown in any updates thereafter), from receipt of the defects Title Commitment (including legible copies of all recorded exceptions noted therein) and Survey within which to notify Seller in writing of any Title Defects, encroachments or other matters not acceptable to Buyer which Buyer objectsare not permitted by this Agreement. Any Title Defect or other objection disclosed by the Title Insurance Commitment (other than liens removable by the payment of money, except the Surviving Mortgage) or the Survey which is not timely specified in Buyer's written notice to Seller of Title Defects shall be deemed a Permitted Exception. Seller shall have a reasonable timenotify Buyer in writing within five (5) days of Buyer's notice if Seller intends to cure any Title Defect or other objection. If Seller elects to cure, not to exceed thirty (30) days, in which Seller shall use diligent efforts to cure the defects and Title Defects and/or objections by the Closing shall Date (as it may be extended accordinglyextended). If, after the expiration of said thirty (30) day If Seller elects not to cure period, the title defects have or if such Title Defects and/or objections are not been cured, then Buyer shall have the option right, in lieu of any other remedies, to: (i) accepting titlerefuse to purchase the Property, terminate this Agreement and receive a return of the Earnest Money Deposit as ixx xxxx remedy; or (ii) terminating this Agreement by written notice to Seller, whereupon neither party shall have any further rights or obligations under this Agreement. Without limiting Buyer's rights hereunder, Seller shall eliminate at Closing any mortgages, liens or other encumbrances affecting waive such Title Defects and/or objections and close the purchase of the Property which may be removed or satisfied by the payment of a liquidated sum of moneysubject to such Title Defects.

Title Insurance and Survey. (a) Simultaneously Promptly after execution hereof, Buyer shall order a Title Insurance Commitment from Chicago Title Insurance Company and a Survey from a reputable surveyor familiar with the Property (Seller agreeing to furnish to Buyer copies of any existing surveys and title information in its possession promptly after execution of this Agreement, Seller has provided to Buyer a copy of the title insurance commitment for the Commercial Tract provided to Seller by Sunbelt, together with any available copies of exceptions to title). Buyer shall obtain an owner's marketable title insurance commitment issued by a recognized title insurance company acceptable to Buyer. The owner's marketable title policy premium and title search fee shall be paid by Buyer at the Closing. (b) If the status of title as shown in the title commitment or the survey contains any defects to which Buyer objects, Buyer shall advise Seller in writing, not later than will have ten (10) days prior to closing (except with respect to any defects shown in any updates thereafter), from receipt of the defects Title Commitment (including legible copies of all recorded exceptions noted therein) and Survey to notify Seller in writing of any Title Defects, encroachments or other matters not acceptable to Buyer which Buyer objectsare not permitted by this Agreement. Any Title Defect or other objection disclosed by the Title Insurance Commitment (other than liens removable by the payment of money) or the Survey which is not timely specified in Buyer's written notice to Seller of Title Defects shall be deemed a Permitted Exception. Seller shall have a reasonable timenotify Buyer in writing within five (5) days of Buyer's notice if Seller intends to cure any Title Defect or other objection. If Seller elects to cure, not to exceed thirty (30) days, in which Seller shall use diligent efforts to cure the defects and Title Defects and/or objections by the Closing shall Date (as it may be extended accordinglyextended). If, after the expiration of said thirty (30) day If Seller elects not to cure period, the title defects have or if such Title Defects and/or objections are not been cured, then Buyer shall have the option right, in lieu of any other remedies, to: (i) accepting titlerefuse to close the transaction, terminate this Agreement and receive a return of the Earnest Money Deposit; or (ii) terminating this Agreement by written notice to Seller, whereupon neither party shall have any further rights or obligations under this Agreement. Without limiting Buyer's rights hereunder, Seller shall eliminate at Closing any mortgages, liens or other encumbrances affecting waive such Tixxx Xxfects and/or objections and close the Property which may be removed or satisfied by the payment of a liquidated sum of moneytransaction notwithstanding them.