Title Policy. The Title Company shall be prepared to issue, upon payment of the title premium at its regular rates, a title policy in the amount of the Purchase Price, insuring title to the Property is vested in the Purchaser or its designee or assignee, subject only to the Permitted Exceptions, with such endorsements as shall be reasonably required by the Purchaser.
Title Policy. Seller shall furnish to Buyer at ❑ Seller’s ❑ Xxxxx’s expense an owner policy of title insurance (Title Policy) issued by: (Title Company) in the amount of the Sales Price, dated at or after closing, insuring Buyer against loss under the provisions of the Title Policy, subject to the promulgated exclusions (including existing building and zoning ordinances) and the following exceptions:
(1) The standard printed exception for standby fees, taxes and assessments.
(2) Liens created as part of the financing described in Paragraph 3.
(3) Reservations or exceptions otherwise permitted by this contract or as may be approved by Xxxxx in writing.
(4) The standard printed exception as to marital rights.
(5) The standard printed exception as to waters, tidelands, beaches, streams, and related matters.
(6) The standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines, encroachments or protrusions, or overlapping improvements:
(i) will not be amended or deleted from the title policy; or
(ii) will be amended to read, "shortages in area" at the expense of ❑ Buyer ❑ Seller.
(7) The exception or exclusion regarding minerals approved by the Texas Department of Insurance.
Title Policy. With respect to each parcel of Mortgaged Property, an ALTA standard form title insurance policy (or, if such form is not available, an equivalent, legally promulgated form of mortgagee title insurance policy reasonably acceptable to the Agent) issued by a Title Insurance Company (with such reinsurance as the Agent may reasonably require, any such reinsurance to be with direct access endorsements to the extent available under applicable law) in an amount as the Agent may reasonably require based upon the fair market value of the applicable Mortgaged Property insuring the priority of the Mortgage thereon and that the Borrower or a Subsidiary Guarantor, as applicable, holds marketable or indefeasible (with respect to Texas) fee simple title or a valid and subsisting leasehold interest to such parcel, subject only to the encumbrances acceptable to Agent in its reasonable discretion and which shall not contain standard exceptions for mechanics liens, persons in occupancy (other than tenants as tenants only under Leases) or matters which would be shown by a survey, shall not insure over any matter except to the extent that any such affirmative insurance is acceptable to the Agent in its reasonable discretion, and shall contain (a) a revolving credit endorsement and (b) such other endorsements and affirmative insurance as the Agent may reasonably require and is available in the State in which the Mortgaged Property is located, including but not limited to (i) a comprehensive endorsement, (ii) a variable rate of interest endorsement, (iii) a usury endorsement, (iv) a doing business endorsement, (v) an ALTA form 3.1 zoning endorsement, (vi) a “tie-in” endorsement relating to all Title Policies issued by such Title Insurance Company in respect of other Mortgaged Property, (vii) “first loss” and “last dollar” endorsements, and (viii) a utility location endorsement.
Title Policy. Mortgagee's title insurance in a form and substance satisfactory to the City and from a title insurance company acceptable to the City.
Title Policy. On the Closing Date, the Title Company shall be unconditionally obligated and prepared, subject to the payment of the applicable title insurance premium and other related charges, to issue to Buyer the Title Policy in accordance with the requirements of Section 3.2.
Title Policy. Seller shall furnish to Buyer an Owner’s Policy of Title Insurance issued by Great Western Abstract and Title Company in the amount of the sales price to insure buyer against loss under the provisions of the title policy, subject to the promulgated exclusions and exceptions (including existing building and zoning ordinances). **You are here advised that the title company is owned, in part, by Xxxx Xxxxxx and Xxxxxxxx Xxxxxxxxxxx of which the seller herein is a subsidiary. Such ownership interest will not affect your rights under any title insurance policy that will be issued to you by the title company.
Title Policy. In relation to each Mortgaged Property, an ALTA standard form title insurance policy issued by the Title Insurance Company (with such reinsurance or co-insurance as the Administrative Agent may require, any such reinsurance to be with direct access endorsements) in such amount as may be reasonably determined by the Administrative Agent insuring the priority of the Mortgage of such Mortgaged Property and that the Borrower or one of its Subsidiaries holds marketable fee simple or leasehold title (as applicable) to such Mortgaged Property, subject only to the encumbrances permitted by such Mortgage and which shall not contain exceptions for mechanics liens, persons in occupancy or matters which would be shown by a survey (except as may be permitted by such Mortgage), shall not insure over any matter except to the extent that any such affirmative insurance is acceptable to the Administrative Agent in its sole discretion, and shall contain such endorsements and affirmative insurance as the Administrative Agent in its discretion may require, including but not limited to (a) comprehensive endorsement, (b) variable rate of interest endorsement, (c) usury endorsement, (d) revolving credit endorsement, (e) tie-in endorsement, (f) doing business endorsement and (g) ALTA form 3.1 zoning endorsement.
Title Policy. The Title Company shall be committed to issue the title policy in accordance with Section 3.2.
Title Policy. (a) At the Close of Escrow, Xxxxx’s title to the Property shall be insured by an ALTA Owner’s Standard Policy of Title Insurance (including a mechanics’ lien endorsement) issued by the Title Company in the amount of the Purchase Price showing title to the Property vested in Buyer, subject only to the Approved Condition of Title (the “Title Policy”). The issuance by Title Company of the Title Policy in favor of Xxxxx insuring title to the Property to Buyer in the amount of the Purchase Price, subject only to the Approved Condition of Title shall be conclusive evidence that Seller has complied with any obligation, express or implied, to convey good and marketable title to the Property to Buyer.
(b) Notwithstanding the above, Buyer may elect to obtain an ALTA Owner’s Extended Coverage Policy of Title Insurance on the following conditions: (i) Seller shall pay for the cost of the ALTA Standard coverage referenced in (a) above, (ii) Buyer shall pay for the additional cost of obtaining the ALTA Extended coverage, including any ALTA Survey (or, at Buyer’s election, the Title Policy may contain a survey exception); and (iii) the obtaining of the ALTA Extended coverage shall not delay the Closing Date.
(c) Title Company’s commitment to issue the Title Policy (and no other policy) to Buyer shall be a condition to the Close of Escrow for the benefit of Buyer. Buyer’s decision to obtain any additional endorsements, policies or surveys (as the case may be), shall not be a condition to the Close of Escrow, and shall not be a basis for extending the Close of Escrow. Xxxxx and Xxxxxx each agree to deliver to Title Company such proof of their respective authority and authorization to enter into this Agreement and consummate the transactions contemplated hereby as may be reasonably required by the other party or Title Company.
