Common use of Title Notice Clause in Contracts

Title Notice. If the Title Commitments or Existing Surveys disclose matters that are not acceptable to Buyer (“Unpermitted Exceptions”), then Buyer shall notify Seller in writing (the “Title Notice”) of Buyer’s objections within 10 days after Buyer has received both the Title Commitments and the Existing Surveys. In the event that Buyer notifies Seller of any objections within such 10-day period, then Seller shall notify Buyer in writing, within 10 days following the date of receipt of Buyer’s notice of such objections, that either: (a) the Unpermitted Exceptions will be, prior to Closing, removed from the Commitments, insured over by the Title Company pursuant to an endorsement to the Title Policies, or otherwise cured to Buyer’s reasonable satisfaction; or (b) Seller declines to arrange to have the Unpermitted Exceptions removed, insured over, or otherwise cured. If Seller fails to deliver such written notice to Buyer within such 10-day period, then Seller shall be deemed to have declined to arrange to have the Unpermitted Exceptions removed, insured over, or otherwise cured. If Seller declines to arrange to remove, insure over, or otherwise cure any of the Unpermitted Exceptions, then Buyer shall elect, through written notice to Seller within 10 days after Buyer’s receipt of Seller’s written declination, to: (a) terminate this Agreement and receive refund of the Exxxxxx Money; or (b) waive such objections and take title subject to the Unpermitted Exceptions that Seller has declined to remove, insure over, or otherwise cure. The Closing Date shall be adjusted, if necessary, to allow for any elections allowed or required by this Section. Notwithstanding anything to the contrary contained herein, Seller agrees to cause all monetary encumbrances (other than non-delinquent property taxes and assessments) to be removed from the Title Commitments at or before Closing.

Title Notice. If the Title Commitments Commitment or Existing Surveys Survey (or Updated Survey, as applicable) disclose matters that are not acceptable to Buyer (“Unpermitted Exceptions”), then Buyer shall notify Seller in writing (the “Title Notice”) of Buyer’s objections within 10 fifteen (15) days after Buyer has received both the Title Commitments Commitment and the Existing SurveysSurvey (or Updated Survey, as applicable). All matters disclosed by the Title Commitment or Survey (or Updated Survey, as applicable) to which Buyer does not object shall be deemed “Permitted Exceptions”. In the event that Buyer notifies Seller of any objections within such 10-day fifteen (15)-day period, then Seller shall notify Buyer in writing, within 10 ten (10) days following the date of receipt of Buyer’s notice of such objections, that either: (a) the Unpermitted Exceptions will be, prior to Closing, removed from the CommitmentsCommitment and/or Survey (or Updated Survey, as applicable), insured over by the Title Company pursuant to an endorsement to the Title PoliciesCommitment, or otherwise cured to Buyer’s reasonable satisfaction; or (b) Seller declines to arrange to have the Unpermitted Exceptions removed, insured over, or otherwise curedcured to Buyer’s satisfaction. If Seller fails to deliver such written notice to Buyer within such 10-day ten (10)-day period, then Seller shall be deemed to have declined elected to arrange to have the Unpermitted Exceptions removedremove, insured insure over, or otherwise curedcure the Unpermitted Exceptions to Buyer’s satisfaction. If Seller declines to arrange to remove, insure over, or otherwise cure any of the Unpermitted ExceptionsExceptions to Buyer’s satisfaction, then Buyer shall elect, through written notice to Seller within 10 ten (10) days after Buyer’s receipt of Seller’s written declination, to: (ai) terminate this Agreement and receive refund of the Exxxxxx MoneyXxxxxxx Money (as defined below), and upon such refund, neither party shall have any further obligation to the other except as to provisions herein which expressly survive termination; or (bii) waive such objections and take title subject to the Unpermitted Exceptions that Seller has declined to remove, insure over, or otherwise curecure to Buyer’s satisfaction, and such Unpermitted Exceptions shall thereupon be Permitted Exceptions. If Buyer fails to deliver such written notice to Seller within such ten (10)-day period, then Buyer shall be deemed to have elected to waive such objections. The Closing Date shall be adjusted, if necessary, to allow for any elections allowed or required by this Section. Notwithstanding anything to the contrary contained herein, Seller agrees shall be obligated to cause remove as a title exception (A) all monetary encumbrances mortgages (other than non-delinquent property taxes the Existing Mortgage Loan, which Buyer shall assume or take subject to), security deeds, mechanic’s liens, or other security instruments encumbering the Property, and assessments(B) all past due Taxes, and (C) any judgments or tax liens against the Seller (which do not result from acts or omissions on the part of Buyer) which have attached to be removed from and become a lien against the Title Commitments at or before ClosingProperty.

Title Notice. If the Title Commitments or Existing Surveys disclose Evidence discloses matters that are not acceptable to Buyer (“Unpermitted Exceptions”), then Buyer shall notify Seller in writing (the “Title Notice”) of Buyer’s objections within 10 30 days after Buyer has received both the Title Commitments and the Existing SurveysEvidence. In the event that Buyer notifies Seller of any objections within such 1030-day period, then Seller shall notify Buyer in writing, within 10 20 days following the date of receipt of Buyer’s notice of such objections, that either: (a) the Unpermitted Exceptions will be, prior to Closing, removed from the CommitmentsCommitment, insured over by the Title Company pursuant to an endorsement to the Title PoliciesCommitment, or otherwise cured to Buyer’s reasonable satisfaction; or (b) Seller declines to arrange to have the Unpermitted Exceptions removed, insured over, or otherwise cured. ; provided, however, Seller must remove any monetary liens to the extent any such liens are caused by Seller or by those for which Seller is responsible If Seller fails to deliver such written notice to Buyer within such 1020-day period, then Seller shall be deemed to have declined to arrange to have the Unpermitted Exceptions removed, insured over, or otherwise cured. If Seller declines to arrange to remove, insure over, or otherwise cure any of the Unpermitted Exceptions, then Buyer shall elect, through written notice to Seller within 10 20 days after Buyer’s receipt of Seller’s written declination, to: (a) terminate this Agreement and receive refund of the Exxxxxx Xxxxxxx Money; or (b) waive such objections and take title subject to the Unpermitted Exceptions that Seller has declined to remove, insure over, or otherwise cure. The Closing Date shall be adjusted, if necessary, to allow for any elections allowed or required by this Section. Notwithstanding anything to the contrary contained herein, Seller agrees to cause all monetary encumbrances (other than non-delinquent property taxes and assessments) to be removed from the Title Commitments at or before Closing.

Title Notice. If the Title Commitments or Existing Surveys disclose matters that are not acceptable to Buyer (“Unpermitted Exceptions”), then Buyer shall notify Seller in writing have ten (the “Title Notice”10) of Buyer’s objections within 10 days after Buyer has received both the Title Commitments and the Existing Surveys. In the event that Buyer notifies Seller of any objections within such 10-day period, then Seller shall notify Buyer in writing, within 10 days following the date of receipt of both the Title Commitment and the Survey, whichever is later (the "Title Review Period") to give Seller and Escrow Agent written notice ("Buyer’s notice 's Title Notice") of such objectionsBuyer's disapproval or conditional approval of any matters shown in the Title Commitment, the Underlying Documents or the Survey (collectively, the "Title Documents") except for the following "Standard Objections" which Buyer shall not be required to object to, and it shall be presumed that eitherSeller shall cause to be satisfied or release at or before Closing: (a) the Unpermitted Exceptions will be, prior to Closing, standard exceptions which can be removed from the Commitments, insured over by the Title Company pursuant to Survey or an endorsement to affidavit of the Title PoliciesSeller, or otherwise cured to Buyer’s reasonable satisfaction; or (b) mortgages and other secured liens, and (c) real property taxes and special assessments to be prorated or paid at Closing in accordance with Article III. Seller declines shall respond to arrange Xxxxx's Title Notice within five (5) business days of Seller's receipt thereof indicating whether Seller elects to have cure to Buyer's satisfaction the Unpermitted Exceptions removed, insured over, disapproved or otherwise curedconditionally approved title matters identified in Buyer's Title Notice ("Seller's Title Notice"). If Seller does not elect to cure any disapproved or conditionally approved title matters, or if Xxxxx disapproves Seller's Title Notice, or if Seller fails to timely deliver such written notice to Buyer within such 10-day periodSeller's Title Notice, then Buyer shall have the right, upon delivery to Seller and Escrow Agent of a written notice, to either (1) waive its prior disapproval, in which event said disapproved matters shall be deemed approved, or (2) terminate this Agreement. If Buyer fails to give Xxxxx's Title Notice on or before the end of the Title Review Period, then Buyer shall be deemed to have declined to arrange to have approved the Unpermitted Exceptions removedcondition of title except for the Standard Objections, insured over, which Seller shall satisfy or otherwise cured. If Seller declines to arrange to remove, insure over, or otherwise cure any of the Unpermitted Exceptions, then Buyer shall elect, through written notice to Seller within 10 days after Buyer’s receipt of Seller’s written declination, to: (a) terminate this Agreement and receive refund of the Exxxxxx Money; or (b) waive such objections and take title subject to the Unpermitted Exceptions that Seller has declined to remove, insure over, or otherwise cure. The Closing Date shall be adjusted, if necessary, to allow for any elections allowed or required by this Section. Notwithstanding anything to the contrary contained herein, Seller agrees to cause all monetary encumbrances (other than non-delinquent property taxes and assessments) to be removed from the Title Commitments release at or before Closing. Any title matters deemed approved shall be referred to herein as "Permitted Encumbrances." If prior to Closing, a new matter affecting title is disclosed to Buyer, it shall have the same rights thereafter as set forth in this paragraph. Seller shall discharge any liens at Closing.

Title Notice. If the Title Commitments Commitment or Existing Surveys disclose Survey discloses matters that are not acceptable to Buyer (“Unpermitted Exceptions”), then Buyer shall notify Seller in writing (the “Title Notice”) of Buyer’s objections within 10 days after Buyer has received both the Title Commitments Commitment and the Existing SurveysSurvey. In the event that Buyer notifies Seller of any objections within such 10-day period, then Seller shall notify Buyer in writing, within 10 days following the date of receipt of Buyer’s notice of such objections, that either: (a) the Unpermitted Exceptions will be, prior to Closing, removed from the CommitmentsCommitment, insured over by the Title Company pursuant to an endorsement to the Title PoliciesPolicy, or otherwise cured to Buyer’s reasonable satisfaction; or (b) Seller declines to arrange to have the Unpermitted Exceptions removed, insured over, or otherwise cured. If Seller fails to deliver such written notice to Buyer within such 10-day period, then Seller shall be deemed to have declined to arrange to have the Unpermitted Exceptions removed, insured over, or otherwise cured. If Seller declines to arrange to remove, insure over, or otherwise cure any of the Unpermitted ExceptionsExceptions in a manner satisfactory to Buyer in its sole and absolute discretion, then Buyer shall elect, through written notice to Seller within 10 days after Buyer’s receipt of Seller’s written or deemed declination, to: (a) terminate this Agreement and receive refund of the Exxxxxx Money; or (b) waive such objections and take title subject to the Unpermitted Exceptions that Seller has declined to remove, insure over, or otherwise cure. The Closing Date shall be adjusted, if necessary, to allow for any elections allowed or required by this Section. Notwithstanding anything to the contrary contained herein, Seller agrees to cause all monetary encumbrances (other than non-delinquent property taxes and assessments) to be removed from the Title Commitments at or before Closing.

Title Notice. If the Title Commitments or Existing Surveys disclose matters that are not acceptable to Buyer (“Unpermitted Exceptions”), then Buyer shall notify Seller in writing have ten (the “Title Notice”10) of Buyer’s objections within 10 days after Buyer has received both the Title Commitments and the Existing Surveys. In the event that Buyer notifies Seller of any objections within such 10-day period, then Seller shall notify Buyer in writing, within 10 days following the date of receipt of both the Title Commitment and the Survey, whichever is later (the "Title Review Period") to give Seller and Escrow Agent written notice ("Buyer’s notice 's Title Notice") of such objectionsBuyer's disapproval or conditional approval of any matters shown in the Title Commitment, the Underlying Documents or the Survey (collectively, the "Title Documents") except for the following "Standard Objections" which Buyer shall not be required to object to, and it shall be presumed that eitherSeller shall cause to be satisfied or release at or before Closing: (a) the Unpermitted Exceptions will be, prior to Closing, standard exceptions which can be removed from the Commitments, insured over by the Title Company pursuant to Survey or an endorsement to affidavit of the Title PoliciesSeller, or otherwise cured to Buyer’s reasonable satisfaction; or (b) mortgages and other secured liens, and (c) real property taxes and special assessments to be prorated or paid at Closing in accordance with Article III. Seller declines shall respond to arrange Buyer's Title Notice within five (5) business days of Seller's receipt thereof indicating whether Seller elects to have cure to Buyer's satisfaction the Unpermitted Exceptions removed, insured over, disapproved or otherwise curedconditionally approved title matters identified in Buyer's Title Notice ("Seller's Title Notice"). If Seller does not elect to cure any disapproved or conditionally approved title matters, or if Buyer disapproves Seller's Title Notice, or if Seller fails to timely deliver such written notice to Buyer within such 10-day periodSeller's Title Notice, then Buyer shall have the right, upon delivery to Seller and Escrow Agent of a written notice, to either (1) waive its prior disapproval, in which event said disapproved matters shall be deemed approved, or (2) terminate this Agreement. If Buyer fails to give Buyer's Title Notice on or before the end of the Title Review Period, then Buyer shall be deemed to have declined to arrange to have approved the Unpermitted Exceptions removedcondition of title except for the Standard Objections, insured over, which Seller shall satisfy or otherwise cured. If Seller declines to arrange to remove, insure over, or otherwise cure any of the Unpermitted Exceptions, then Buyer shall elect, through written notice to Seller within 10 days after Buyer’s receipt of Seller’s written declination, to: (a) terminate this Agreement and receive refund of the Exxxxxx Money; or (b) waive such objections and take title subject to the Unpermitted Exceptions that Seller has declined to remove, insure over, or otherwise cure. The Closing Date shall be adjusted, if necessary, to allow for any elections allowed or required by this Section. Notwithstanding anything to the contrary contained herein, Seller agrees to cause all monetary encumbrances (other than non-delinquent property taxes and assessments) to be removed from the Title Commitments release at or before Closing. Any title matters deemed approved shall be referred to herein as "Permitted Encumbrances." If prior to Closing, a new matter affecting title is disclosed to Buyer, it shall have the same rights thereafter as set forth in this paragraph. Seller shall discharge any liens at Closing.

Title Notice. If the Title Commitments or Existing Surveys disclose Evidence discloses matters that are not acceptable to Buyer (“Unpermitted Exceptions”), then Buyer shall notify Seller in writing (the “Title Notice”) of Buyer’s objections within 10 30 days after Buyer has received both the Title Commitments and the Existing SurveysEvidence. In the event that Buyer notifies Seller of any objections within such 1030-day period, then Seller shall notify Buyer in writing, within 10 20 days following the date of receipt of Buyer’s notice of such objections, that either: (a) the Unpermitted Exceptions will be, prior to Closing, removed from the CommitmentsCommitment, insured over by the Title Company pursuant to an endorsement to the Title PoliciesCommitment, or otherwise cured to Buyer’s reasonable satisfaction; or (b) Seller declines to arrange to have the Unpermitted Exceptions removed, insured over, or otherwise cured; provided, however, Seller must remove any monetary liens to the extent any such liens are caused by Seller. If Seller fails to deliver such written notice to Buyer within such 1020-day period, then Seller shall be deemed to have declined to arrange to have the Unpermitted Exceptions removed, insured over, or otherwise cured. If Seller declines to arrange to remove, insure over, or otherwise cure any of the Unpermitted Exceptions, then Buyer shall elect, through written notice to Seller within 10 20 days after Buyer’s receipt of Seller’s written declination, to: (a) terminate this Agreement and receive refund of the Exxxxxx Xxxxxxx Money; or (b) waive such objections and take title subject to the Unpermitted Exceptions that Seller has declined to remove, insure over, or otherwise cure. The Closing Date shall be adjusted, if necessary, to allow for any elections allowed or required by this Section. Notwithstanding anything to the contrary contained herein, Seller agrees to cause all monetary encumbrances (other than non-delinquent property taxes and assessments) to be removed from the Title Commitments at or before Closing.

Title Notice. If the Title Commitments or Existing Surveys disclose matters that are not acceptable to Buyer (“Unpermitted Exceptions”), then Buyer shall notify Seller in writing (the “Title Notice”) of Buyer’s objections within 10 the later of (i)10 days after Buyer has received both the Title Commitments and the Existing Surveys, or (ii) 10 days prior to the expiration of the Inspection Period (the “Objection Period”). In the event that Buyer notifies Seller of any objections within such 10-day periodthe Objection Period, then Seller shall notify Buyer in writing, within 10 days following the date of receipt of Buyer’s notice of such objections, that either: (a) the Unpermitted Exceptions will be, prior to Closing, removed from the Commitments, insured over by the Title Company pursuant to an endorsement to the Title Policies, or otherwise cured to Buyer’s reasonable satisfaction; or (b) Seller declines to arrange to have the Unpermitted Exceptions removed, insured over, or otherwise cured. If Seller fails to deliver such written notice to Buyer within such 10-day period, then Seller shall be deemed to have declined to arrange to have the Unpermitted Exceptions removed, insured over, or otherwise cured. If Seller declines to arrange to remove, insure over, or otherwise cure any of the Unpermitted Exceptions, then Buyer shall elect, through written notice to Seller within 10 days after Buyer’s receipt of Seller’s written declination, to: (a) terminate this Agreement and receive refund of the Exxxxxx Xxxxxxx Money; or (b) waive such objections and take title subject to the Unpermitted Exceptions that Seller has declined to remove, insure over, or otherwise cure. The Closing Date shall be adjusted, if necessary, to allow for any elections allowed or required by this Section. Notwithstanding anything to the contrary contained herein, Seller agrees to cause all monetary encumbrances (other than non-delinquent property taxes and assessments) to be removed from the Title Commitments at or before Closing.

Title Notice. If the Title Commitments Commitment or Existing Surveys Survey disclose matters that are not acceptable to Buyer with respect to a Property (“Unpermitted Exceptions”), then Buyer shall notify Seller owning such Property in writing (the “Title Notice”) of Buyer’s objections within 10 fifteen (15) days after Buyer has received both the a Title Commitments Commitment and the Existing SurveysSurvey for such Property. In the event that Buyer notifies such Seller of any objections within such 10-fifteen (15) day period, then such Seller shall notify Buyer in writing, within 10 five (5) business days following the date of receipt of Buyer’s notice of such objections, that either: (a) the Unpermitted Exceptions such Seller will beattempt to have, prior to Closing, the Unpermitted Exceptions removed from the CommitmentsTitle Commitment and/or Survey, insured over by the Title Company pursuant to an endorsement to the Title PoliciesPolicy, or otherwise cured to Buyer’s reasonable satisfaction; or (b) such Seller declines to arrange to have the Unpermitted Exceptions removed, insured over, or otherwise cured. If such Seller fails to deliver such written notice to Buyer within such 10-five (5) business day period, then such Seller shall be deemed to have declined elected to arrange attempt to have the Unpermitted Exceptions removedremove, insured insure over, or otherwise curedcure the Unpermitted Exceptions. If such Seller declines to arrange to remove, insure over, or otherwise cure any of the Unpermitted Exceptions, or if such Seller has attempted unsuccessfully to remove, insure over or otherwise cure any of the Unpermitted Exceptions, then Buyer shall elect, through by written notice to such Seller within 10 five (5) business days after Buyer’s receipt of such Seller’s written declination, or at, or at any time prior to the Closing if Seller has unsuccessfully attempted to remove, insure over or otherwise cure such Unpermitted Exceptions, to: (a) terminate this Agreement and receive refund of the Exxxxxx Moneyin its entirety or as to such Property only; or (b) waive such objections and take title to such Property subject to the Unpermitted Exceptions that such Seller has declined or attempted unsuccessfully to remove, insure over, or otherwise cure. The Closing Date shall be adjusted, if necessary, to allow for any elections allowed or required by this Section. Notwithstanding anything to the contrary contained herein, each Seller agrees shall be obligated to cause remove as a title exception (x) all monetary encumbrances mortgages, security deeds, mechanic’s liens, or other security instruments encumbering the Property owned by such Seller, excluding those instruments and agreements evidencing or securing the Debt with respect to such Property or those otherwise expressly to be assumed by Buyer herein, and (other than non-y) all delinquent property ad valorem taxes and assessmentsassessments (excluding future installments of special assessments being paid in installments). In addition, each Seller shall be obligated to remove, bond over or insure over any judgments or tax liens against such Seller (which do not result from acts or omissions on the part of Buyer) which have attached to be removed from and become a lien against the Title Commitments at or before ClosingProperty owned by such Seller.