Common use of Title Issues Clause in Contracts

Title Issues. and Objections Buyer shall be responsible for ordering at Buyers Expense a Title Opinion, title policy or title commitment for an Owner’s Policy of Title Insurance. Buyer shall forward the Title Opinion or Updated Commitment, when received, to Alexander Auctions & Real Estate Sales and Seller. Buyer shall, within fifteen (15) business days following Buyer’s receipt of the Title Opinion or Updated Commitment, notify Alexander Auctions & Real Estate Sales and Seller of Buyer’s written objection(s) to any exceptions that are shown in the Title Opinion or Commitment. Seller shall have 90 days to cure any such objections shown in the Title Opinion or Updated Commitment. In no event shall such objections include the matters waived by this agreement as described herein. In the event, Seller cannot cure the objections that were shown in the Title Opinion or Updated Commitment, Buyer may either terminate this Agreement, as provided herein, or elect to purchase the Property despite its objections. In any event, Buyer’s failure to respond, on or before five (5) days prior to the Closing, shall be deemed conclusive evidence of Buyer’s approval of the condition of title, as shown on the Commitment. In the event Seller cannot cure the objections shown in the Title Opinion or updated Commitment and Seller elects to terminate this Agreement, as provided herein, the ▇▇▇▇▇▇▇ money deposit shall be refunded. If the transaction shall not be closed because of the title objections or refusal of the Seller to perform, then Seller shall pay the Agent the commission and expenses on demand. Failure or refusal of wife or husband of Seller or Buyer to execute deed or mortgage required hereunder shall be deemed default on the part of such Seller or Buyer.

Title Issues. and Objections Buyer shall be responsible for ordering at Buyers Expense a Title OpinionIf Purchaser raises any objections to the quality of Seller’s title, title policy or title commitment for an Owner’s Policy of Title Insurance. Buyer shall forward the Title Opinion or Updated Commitment, when received, to Alexander Auctions & Real Estate Sales and Seller. Buyer shall, within fifteen (15) business days following Buyer’s receipt of the Title Opinion or Updated Commitment, notify Alexander Auctions & Real Estate Sales and Seller of Buyer’s written objection(s) to any exceptions that are shown in the Title Opinion or Commitment. Seller shall have 90 a minimum of thirty (30) days from the earlier of the closing date or the date upon which Seller receives a copy of a title insurance commitment or a title report to cure resolve title exceptions or defects or other title issues which in any such objections shown in the Title Opinion way impede or Updated Commitment. In no event shall such objections include the matters waived by this agreement impair Seller’s ability to convey title as described required herein. In the eventIf within such thirty (30) day period, Seller cannot cure the objections that were shown determines it is unable or unwilling to resolve such matters, then Purchaser: (i) may take title in the Title Opinion or Updated Commitmentits then state, Buyer may either terminate this Agreement, as provided hereinthereby waiving any title objections, or elect to purchase (ii) terminate the Property despite its objections. In Contract and receive a refund of any event, Buyer’s failure to respond, on or before five (5) days prior to the Closing, shall be deemed conclusive evidence of Buyer’s approval of the condition of title, as shown on the Commitment. In the event Seller cannot cure the objections shown in the Title Opinion or updated Commitment and Seller elects to terminate this Agreement, as provided herein, the ▇▇▇▇▇▇▇ money deposit shall be refunded. If the transaction shall not be closed because of the title objections or refusal of the Seller to perform, then as Purchaser’s sole and exclusive remedy and Seller shall pay have no further obligations to Purchaser whatsoever and the Agent the commission and expenses on demand. Failure or refusal of wife or husband of Seller or Buyer to execute deed or mortgage required hereunder Contract shall be deemed default on null and void and of no further force or effect. Alternatively, in such circumstances, Seller may terminate the part Contract and refund Purchaser’s ▇▇▇▇▇▇▇ money, such refund being Purchaser’s exclusive remedy for such termination and Seller shall have no further obligations to Purchaser whatsoever and the Contract shall be deemed null and void and of no further force or effect. In the event Seller fails to resolve the title issues within the aforesaid thirty (30) day period, all parties shall presume Seller determined it is unable or unwilling to resolve such issues. Seller shall refund Purchaser’s ▇▇▇▇▇▇▇ money and Seller shall have no further obligations to Purchaser whatsoever and the Contract shall be deemed null and void and of no further force or Buyereffect.