Title Insurance Requirements. Each Mortgage Loan shall be insured by a title insurance policy meeting the requirements set forth in the Procedural Guide, the benefits of which shall run to the Authority, issued on a standard American Land Title Association form by a title insurer acceptable to the Authority in an amount equal to the original principal balance of the Mortgage Loan.
Title Insurance Requirements. All documents and instruments established as requirements for issuance of the title insurance policy as set forth in Buyer's title commitment, if any, and such affidavits as the title insurer shall reasonably require in order to insure the gap at Closing.
Title Insurance Requirements. Such affidavits as the title insurer shall reasonably require in order to insure the gap at Closing.
Title Insurance Requirements. At or before Closing, Seller shall reasonably cooperate with respect to the satisfaction of the title company’s requirements for issuing a standard coverage title insurance policy, as set forth in Schedule B-I of the Final Title Commitment; provided, however:
(a) Seller shall have no obligation with respect to the satisfaction of any requirement or condition that is contrary to or inconsistent with the provisions of this Agreement; (b) Seller shall have no obligation with respect to (and Buyer’s obligations are not contingent upon) the satisfaction of any requirement or condition that can only be satisfied by Buyer or that reasonably should be satisfied by Buyer as opposed to Seller; and (c) Seller shall pay any attorney’s fees and/or other costs incurred in connection with the satisfaction and/or attempted satisfaction of any such requirement that entails action by a third party other than Seller or Buyer, such as (but not limited to) the issuance of a judgment or order of a court and/or the execution and delivery of a conveyance, release or other document by a third party (“Special Requirement”); provided, however, notwithstanding any other provision, Seller shall have the right to terminate this Agreement at any time, by giving notice of such termination to Buyer, if Seller determines (in the exercise of Seller’s sole discretion) that the satisfaction of any Special Requirement is untenable, unlikely, impractical, unfeasible and/or otherwise not viable. In the event of termination by Seller pursuant to the foregoing provision, Buyer shall be entitled to the return of the Xxxxxxx Money as Buyer’s sole and exclusive remedy.
Title Insurance Requirements. At or before Closing, Seller shall reasonably cooperate with respect to the satisfaction of the title company’s requirements for issuing the Owner’s Title Policy, as set forth in the Final Title Commitment; provided, however, Seller shall have no obligation with respect to the satisfaction of any requirement or condition that is contrary to or inconsistent with the provisions of this Agreement; provided, further, Seller shall have no obligation with respect to and Buyer’s obligations are not contingent upon: (a) the satisfaction of any requirement or condition that can only be satisfied by Buyer or that reasonably should be satisfied by Xxxxx as opposed to Seller; and/or (b) the availability or issuance of any extended or special title insurance coverage, any title insurance endorsement or any other title insurance product other than the Final Title Commitment for the issuance of the Owner’s Title Policy as described in this Agreement.
Title Insurance Requirements. A title insurance policy in the form of an ALTA loan policy – 2006, with ALTA endorsement Form 1 coverage, amended 6/17/06, without further revision or amendment, insuring that on the Closing Date, Borrower owns fee simple title to the Land and that the Deed of Trust is a valid first lien on the Property in the amount of the Note. The Title Insurance Policy must provide affirmative insurance against mechanics liens and contain CLTA Endorsements 100, 103.7, 104.6, 104.7, 111.5, 116, 116.1, 116.4, and such other endorsements as Bondowner Representative requires, in Bondowner Representative’s sole discretion. Except as approved by Bondowner Representative in writing prior to the Closing Date, the Title Insurance Policy must not contain any survey exceptions, exceptions for rights of parties in possession, easements not of record or unpaid installments of special assessments, or any other exceptions to coverage not approved by Bondowner Representative. The Title Insurance Policy must contain such reinsurance agreements and direct access agreements as Bondowner Representative may require. During the term of the Loan, Bondowner Representative may require other endorsements to the Title Insurance Policy, including without limitation CLTA Endorsements 101.2, 102.5 and 122. DWT 19920588v5 0017787-000267 Exhibit E
Title Insurance Requirements. Each such policy shall (A) be in an amount reasonably satisfactory to the Administrative Agent; (B) be issued at the most favorable rates available to Borrower; (C) insure that the Mortgage insured thereby creates a valid first Lien on, and security interest in, the Real Estate covered by such Mortgage free and clear of all defects and encumbrances, except for Permitted Liens disclosed therein; (D) name the Administrative Agent for the benefit of the Secured Parties as the insured thereunder; (E) be in the form of ALTA Loan Policy 2006 (or equivalent policies); (F) contain such endorsements and affirmative coverage as the Administrative Agent may reasonably request in form and substance acceptable to the Administrative Agent, excluding survey, comprehensive, environmental protection, lien, zoning and usury, but including, without limitation (to the extent applicable with respect to such Real Estate and available in the jurisdiction in which such Real Estate is located), the following endorsements: variable rate; first loss, last dollar and tie-in; access; separate tax parcel; contiguity; doing business; subdivision; and such other endorsements as the Administrative Agent shall reasonably require in order to provide insurance against specific risks identified by the Administrative Agent in connection with such Real Estate (provided that such endorsements shall be required only to the extent customary in the state in which the Real Estate is located and available at commercially reasonable rates), and (G) be issued by title companies satisfactory to the Administrative Agent. The Administrative Agent shall have received evidence satisfactory to it that all premiums in respect of each such policy, all charges for mortgage recording tax, and all related expenses, if any, have been paid. The Administrative Agent shall have received a copy of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies referred to in this Schedule and a copy of all other material documents affecting the subject Real Estate.
Title Insurance Requirements. As a pre-closing requirement, Borrower must submit a title insurance commitment or preliminary title report, issued by a reputable, commercial title insurance company acceptable to Lender, agreeing to issue an ALTA 10/17/92 form of loan policy of title insurance, or such other form of loan policy as the Lender shall approve (the “Policy”), in the amount of the Loan, insuring to the Lender and its assigns that:
Title Insurance Requirements. At or before Closing, Seller shall reasonably cooperate with respect to the satisfaction of the title company’s requirements for issuing a standard coverage title insurance policy, as set forth in Schedule B-I of the Final Title Commitment; provided, however, Seller shall have no obligation with respect to (and Buyer’s obligations are not contingent upon) the satisfaction of any requirement or condition that is contrary to or inconsistent with the provisions of this Agreement or the satisfaction of any Buyer-Related Requirement.
Title Insurance Requirements. Borrower shall furnish to Lender (a) a current ALTA survey of the Property acceptable to Lender and acceptable to the Title Company approved by Xxxxxx, (b) a preliminary title report issued by Title Company, together with copies of all recorded exceptions pertaining to the Property, and (c) copies of all CC&Rs affecting the Property. Upon recordation of the Deed of Trust, Title Company must issue, at Xxxxxxxx’s expense, a Title Insurance Policy in liability amount and form satisfactory to Lender, showing the Deed of Trust as a first lien on the Property, subject only to those exceptions approved by Xxxxxx in writing, in Xxxxxx’s sole discretion, together with any and all endorsements required by Xxxxxx. In connection with each additional disbursement of Loan funds, Borrower shall furnish to Lender, at its expense, an endorsement to the Title Insurance Policy which updates the effective date of such policy to the date of the disbursement and shows no new encumbrances other than the Permitted Encumbrances.
