Common use of Title Notice Clause in Contracts

Title Notice. Buyer shall have ten (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 Title Notice") of Buyer'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 Seller shall cause to be satisfied or release at or before Closing: (a) standard exceptions which can be removed by the Survey or an affidavit of the Seller, (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 shall respond to Buyer's Title Notice within five (5) business days of Seller's receipt thereof indicating whether Seller elects to cure to Buyer's satisfaction the disapproved or conditionally 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 Seller'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 approved the condition of title except for the Standard Objections, which Seller shall satisfy or 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 Evidence discloses matters that are not acceptable to Buyer (“Unpermitted Exceptions”), then Buyer shall have ten notify Seller in writing (10the “Title Notice”) of Buyer’s objections within 30 days after Buyer has received the Title Evidence. In the event that Buyer notifies Seller of any objections within such 30-day period, then Seller shall notify Buyer in writing, within 20 days following the date of receipt of both the Title Commitment and the SurveyBuyer’s notice of such objections, whichever is later (the "Title Review Period") to give Seller and Escrow Agent written notice ("Buyer's Title Notice") of Buyer'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 Seller shall cause to be satisfied or release at or before Closingeither: (a) standard exceptions which can be the Unpermitted Exceptions will be, prior to Closing, removed from the Commitment, insured over by the Survey Title Company pursuant to an endorsement to the Commitment, or an affidavit of the Seller, otherwise cured to Buyer’s reasonable satisfaction; or (b) mortgages and other secured liensSeller declines to arrange to have the Unpermitted Exceptions removed, and (c) real property taxes and special assessments to be prorated or paid at Closing in accordance with Article III. Seller shall respond to Buyer's Title Notice within five (5) business days of Seller's receipt thereof indicating whether Seller elects to cure to Buyer's satisfaction the disapproved or conditionally 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 mattersinsured over, or if Buyer disapproves Seller's Title Noticeotherwise cured; provided, however, Seller must remove any monetary liens to the extent any such liens are caused by Seller or if by those for which Seller is responsible If Seller fails to timely deliver Seller's Title Noticesuch written notice to Buyer within such 20-day period, 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 approved declined to arrange to have the condition 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 20 days after Buyer’s receipt of Seller’s written declination, to: (a) terminate this Agreement and receive refund of the Xxxxxxx Money; or (b) waive such objections and take title except for subject to the Standard ObjectionsUnpermitted Exceptions that Seller has declined to remove, which Seller shall satisfy insure over, or release at or before Closingotherwise cure. Any title matters deemed approved The Closing Date shall be referred adjusted, if necessary, to herein as "Permitted Encumbrancesallow for any elections allowed or required by this Section." 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 matters that are not acceptable to Buyer (“Unpermitted Exceptions”), then Buyer shall have ten notify Seller in writing (10the “Title Notice”) of Buyer’s objections within 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 the Objection Period, then Seller shall notify Buyer in writing, within 10 days following the date of receipt of both the Title Commitment and the SurveyBuyer’s notice of such objections, whichever is later (the "Title Review Period") to give Seller and Escrow Agent written notice ("Buyer's Title Notice") of Buyer'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 Seller shall cause to be satisfied or release at or before Closingeither: (a) standard exceptions which can be the Unpermitted Exceptions will be, prior to Closing, removed from the Commitments, insured over by the Survey Title Company pursuant to an endorsement to the Title Policies, or an affidavit of the Seller, otherwise cured to Buyer’s reasonable satisfaction; or (b) mortgages and other secured liensSeller declines to arrange to have the Unpermitted Exceptions removed, and (c) real property taxes and special assessments to be prorated insured over, or paid at Closing in accordance with Article III. Seller shall respond to Buyer's Title Notice within five (5) business days of Seller's receipt thereof indicating whether Seller elects to cure to Buyer's satisfaction the disapproved or conditionally approved title matters identified in Buyer's Title Notice ("Seller's Title Notice")otherwise cured. 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 Seller's Title Noticesuch written notice to Buyer within such 10-day period, 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 approved declined to arrange to have the condition 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 Xxxxxxx Money; or (b) waive such objections and take title except for subject to the Standard ObjectionsUnpermitted Exceptions that Seller has declined to remove, which Seller shall satisfy insure over, or release at or before Closingotherwise cure. Any title matters deemed approved The Closing Date shall be referred adjusted, if necessary, to herein as "Permitted Encumbrancesallow for any elections allowed or required by this Section." 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 Commitment or Survey (or Updated Survey, as applicable) disclose matters that are not acceptable to Buyer (“Unpermitted Exceptions”), then Buyer shall have notify Seller in writing (the “Title Notice”) of Buyer’s objections within fifteen (15) days after Buyer has received both the Title Commitment and the Survey (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 fifteen (15)-day period, then Seller shall notify Buyer in writing, within ten (10) days following the date of receipt of both the Title Commitment and the SurveyBuyer’s notice of such objections, whichever is later (the "Title Review Period") to give Seller and Escrow Agent written notice ("Buyer's Title Notice") of Buyer'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 Seller shall cause to be satisfied or release at or before Closingeither: (a) standard exceptions which can be the Unpermitted Exceptions will be, prior to Closing, removed from the Commitment and/or Survey (or Updated Survey, as applicable), insured over by the Survey Title Company pursuant to an endorsement to the Commitment, or an affidavit of the Seller, otherwise cured to Buyer’s satisfaction; or (b) mortgages and other secured liensSeller declines to arrange to have the Unpermitted Exceptions removed, and (c) real property taxes and special assessments to be prorated insured over, or paid at Closing in accordance with Article III. Seller shall respond otherwise cured to Buyer's Title Notice within five (5) business days of Seller's receipt thereof indicating whether Seller elects to cure to Buyer's satisfaction the disapproved or conditionally approved title matters identified in Buyer's Title Notice ("Seller's Title Notice")’s satisfaction. If Seller does not elect fails to deliver such written notice to Buyer within such ten (10)-day period, then Seller shall be deemed to have elected to remove, insure over, or otherwise cure the Unpermitted Exceptions to Buyer’s satisfaction. If Seller declines to arrange to remove, insure over, or otherwise cure any disapproved or conditionally approved title matters, or if Buyer disapproves Seller's Title Notice, or if Seller fails of the Unpermitted Exceptions to timely deliver Seller's Title NoticeBuyer’s satisfaction, then Buyer shall have the rightelect, upon delivery through written notice to Seller and Escrow Agent within ten (10) days after Buyer’s receipt of a Seller’s written noticedeclination, to either to: (1) waive its prior disapproval, in which event said disapproved matters shall be deemed approved, or (2i) terminate this AgreementAgreement and receive refund of the Xxxxxxx 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 (ii) waive such objections and take title subject to the Unpermitted Exceptions that Seller has declined to remove, insure over, or otherwise cure to Buyer’s satisfaction, and such Unpermitted Exceptions shall thereupon be Permitted Exceptions. If Buyer fails to give Buyer's Title Notice on or before the end of the Title Review Perioddeliver such written notice to Seller within such ten (10)-day period, then Buyer shall be deemed to have approved 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 condition of contrary contained herein, Seller shall be obligated to remove as a title except for exception (A) all mortgages (other than the Standard ObjectionsExisting Mortgage Loan, which Buyer shall assume or take subject to), security deeds, mechanic’s liens, or other security instruments encumbering the Property, and (B) all past due Taxes, and (C) any judgments or tax liens against the Seller shall satisfy (which do not result from acts or release at or before Closing. Any title matters deemed approved shall be referred omissions on the part of Buyer) which have attached to herein as "Permitted Encumbrancesand become a lien against the Property." 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 matters that are not acceptable to Buyer (“Unpermitted Exceptions”), then Buyer shall have ten 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 both the Title Commitment and the SurveyBuyer’s notice of such objections, whichever is later (the "Title Review Period") to give Seller and Escrow Agent written notice ("Buyer's Title Notice") of Buyer'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 Seller shall cause to be satisfied or release at or before Closingeither: (a) standard exceptions which can be the Unpermitted Exceptions will be, prior to Closing, removed from the Commitments, insured over by the Survey Title Company pursuant to an endorsement to the Title Policies, or an affidavit of the Seller, otherwise cured to Buyer’s reasonable satisfaction; or (b) mortgages and other secured liensSeller declines to arrange to have the Unpermitted Exceptions removed, and (c) real property taxes and special assessments to be prorated insured over, or paid at Closing in accordance with Article III. Seller shall respond to Buyer's Title Notice within five (5) business days of Seller's receipt thereof indicating whether Seller elects to cure to Buyer's satisfaction the disapproved or conditionally approved title matters identified in Buyer's Title Notice ("Seller's Title Notice")otherwise cured. 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 Seller's Title Noticesuch written notice to Buyer within such 10-day period, 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 approved declined to arrange to have the condition 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 except 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 Standard Objectionscontrary contained herein, which Seller shall satisfy or release 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. 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 Commitment or Survey disclose matters that are not acceptable to Buyer with respect to a Property (“Unpermitted Exceptions”), then Buyer shall have ten notify Seller owning such Property in writing (10the “Title Notice”) of Buyer’s objections within fifteen (15) days after Buyer has received both a Title Commitment and Survey for such Property. In the event that Buyer notifies such Seller of any objections within such fifteen (15) day period, then such Seller shall notify Buyer in writing, within five (5) business days following the date of receipt of both the Title Commitment and the SurveyBuyer’s notice of such objections, whichever is later (the "Title Review Period") to give Seller and Escrow Agent written notice ("Buyer's Title Notice") of Buyer'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 Seller shall cause to be satisfied or release at or before Closingeither: (a) standard exceptions which can be such Seller will attempt to have, prior to Closing, the Unpermitted Exceptions removed from the Title Commitment and/or Survey, insured over by the Survey Title Company pursuant to an endorsement to the Title Policy, or an affidavit of the Seller, otherwise cured to Buyer’s reasonable satisfaction; or (b) mortgages and other secured lienssuch Seller declines to arrange to have the Unpermitted Exceptions removed, and insured over, or otherwise cured. If such Seller fails to deliver such written notice to Buyer within such five (c5) real property taxes and special assessments to be prorated or paid at Closing in accordance with Article III. business day period, then such Seller shall respond be deemed to Buyer's Title Notice have elected to attempt to remove, insure over, or otherwise cure 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, by written notice to such Seller within five (5) business days after Buyer’s receipt of such Seller's receipt thereof indicating whether Seller elects to cure to Buyer's satisfaction the disapproved or conditionally 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’s written declination, or if Buyer disapproves Seller's Title Noticeat, or at any time prior to the Closing if Seller fails has unsuccessfully attempted to timely deliver Seller's Title Noticeremove, then Buyer shall have the rightinsure over or otherwise cure such Unpermitted Exceptions, upon delivery to Seller and Escrow Agent of a written notice, to either to: (1) waive its prior disapproval, in which event said disapproved matters shall be deemed approved, or (2a) terminate this AgreementAgreement in 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. If Buyer fails to give Buyer's Title Notice on or before the end of the Title Review Period, then Buyer The Closing Date shall be deemed adjusted, if necessary, to have approved allow for any elections allowed or required by this Section. Notwithstanding anything to the condition of title except for the Standard Objectionscontrary contained herein, which each Seller shall satisfy be obligated to remove as a title exception (x) all mortgages, security deeds, mechanic’s liens, or release at other security instruments encumbering the Property owned by such Seller, excluding those instruments and agreements evidencing or before Closingsecuring the Debt with respect to such Property or those otherwise expressly to be assumed by Buyer herein, and (y) all delinquent ad valorem taxes and assessments (excluding future installments of special assessments being paid in installments). Any title matters deemed approved In addition, each Seller shall be referred obligated to herein as "Permitted Encumbrancesremove, 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 and become a lien against the Property owned by such Seller." 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 Commitment or Existing Survey discloses matters that are not acceptable to Buyer (“Unpermitted Exceptions”), then Buyer shall have ten notify Seller in writing (the “Title Notice”) of Buyer’s objections within 10 days after Buyer has received both the Title Commitment and the Existing Survey. 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 SurveyBuyer’s notice of such objections, whichever is later (the "Title Review Period") to give Seller and Escrow Agent written notice ("Buyer's Title Notice") of Buyer'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 Seller shall cause to be satisfied or release at or before Closingeither: (a) standard exceptions which can be the Unpermitted Exceptions will be, prior to Closing, removed from the Commitment, insured over by the Survey Title Company pursuant to an endorsement to the Title Policy, or an affidavit of the Seller, otherwise cured to Buyer’s reasonable satisfaction; or (b) mortgages and other secured liensSeller declines to arrange to have the Unpermitted Exceptions removed, and (c) real property taxes and special assessments to be prorated insured over, or paid at Closing in accordance with Article III. Seller shall respond to Buyer's Title Notice within five (5) business days of Seller's receipt thereof indicating whether Seller elects to cure to Buyer's satisfaction the disapproved or conditionally approved title matters identified in Buyer's Title Notice ("Seller's Title Notice")otherwise cured. 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 Seller's Title Noticesuch written notice to Buyer within such 10-day period, 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 approved declined to arrange to have the condition 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 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 except for subject to the Standard ObjectionsUnpermitted Exceptions that Seller has declined to remove, which Seller shall satisfy insure over, or release at or before Closingotherwise cure. Any title matters deemed approved The Closing Date shall be referred adjusted, if necessary, to herein as "Permitted Encumbrancesallow for any elections allowed or required by this Section." 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 Evidence discloses matters that are not acceptable to Buyer (“Unpermitted Exceptions”), then Buyer shall have ten notify Seller in writing (10the “Title Notice”) of Buyer’s objections within 30 days after Buyer has received the Title Evidence. In the event that Buyer notifies Seller of any objections within such 30-day period, then Seller shall notify Buyer in writing, within 20 days following the date of receipt of both the Title Commitment and the SurveyBuyer’s notice of such objections, whichever is later (the "Title Review Period") to give Seller and Escrow Agent written notice ("Buyer's Title Notice") of Buyer'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 Seller shall cause to be satisfied or release at or before Closingeither: (a) standard exceptions which can be the Unpermitted Exceptions will be, prior to Closing, removed from the Commitment, insured over by the Survey Title Company pursuant to an endorsement to the Commitment, or an affidavit of the Seller, otherwise cured to Buyer’s reasonable satisfaction; or (b) mortgages and other secured liensSeller declines to arrange to have the Unpermitted Exceptions removed, and (c) real property taxes and special assessments insured over, or otherwise cured; provided, however, Seller must remove any monetary liens to be prorated or paid at Closing in accordance with Article III. Seller shall respond to Buyer's Title Notice within five (5) business days of the extent any such liens are caused by Seller's receipt thereof indicating whether Seller elects to cure to Buyer's satisfaction the disapproved or conditionally 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 Seller's Title Noticesuch written notice to Buyer within such 20-day period, 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 approved declined to arrange to have the condition 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 20 days after Buyer’s receipt of Seller’s written declination, to: (a) terminate this Agreement and receive refund of the Xxxxxxx Money; or (b) waive such objections and take title except for subject to the Standard ObjectionsUnpermitted Exceptions that Seller has declined to remove, which Seller shall satisfy insure over, or release at or before Closingotherwise cure. Any title matters deemed approved The Closing Date shall be referred adjusted, if necessary, to herein as "Permitted Encumbrancesallow for any elections allowed or required by this Section." 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.