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) Restrictive covenants common to the platted subdivision in which the Property is located.
(2) The standard printed exception for standby fees, taxes and assessments.
(3) Liens created as part of the financing described in Paragraph 3.
(4) Utility easements created by the dedication deed or plat of the subdivision in which the Property is located.
(5) Reservations or exceptions otherwise permitted by this contract or as may be approved by Xxxxx in writing.
(6) The standard printed exception as to marital rights.
(7) The standard printed exception as to waters, tidelands, beaches, streams, and related matters.
(8) 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.
(9) 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. At Closing, Seller shall cause the Title Company to deliver to Purchaser its owner's title insurance policy required by this Agreement. Seller hereby agrees that Seller shall remove, satisfy or cure at or prior to the Closing, any Unpermitted Encumbrances created by Seller after the effective date of this Agreement in violation of this Agreement or any Unpermitted Encumbrances consisting of taxes and installments of special assessments (except for taxes which are not yet due or payable which shall be prorated between Seller and Purchaser and installments of special assessments as provided in Section 10(a) below), mortgages, mechanic's or materialmen's liens or other such monetary encumbrances. In the event that Seller shall fail, on or before the date of Closing, to remove, satisfy or cure any Unpermitted Encumbrances that Seller is obligated hereunder to remove, satisfy or cure or as to which Seller gave assurance to Purchaser that Seller would remove, satisfy or cure as provided in Section 3(b) above or that Seller created after the Effective Date of this Agreement in violation of this Agreement, (i) Purchaser may terminate this Agreement by written notice to Seller and Title Company, in which even the Xxxxxxx Money shall be immediately refunded to Purchaser, (ii) Purchaser may remove, cure or cause the Title Company to endorse over such Unpermitted Encumbrance, in which event the Purchase Price payable pursuant to Section 2 hereof shall be reduced by an amount equal to the actual cost and expense incurred by Purchaser in connection with the removing, curing or endorsing over of such Unpermitted Encumbrance, or (iii) Purchaser may accept title to the Real Property subject to such Unpermitted Encumbrances, or (iv) any combination of items (ii) and (iii). In the event Purchaser elects to remove, cure or cause the Title Company to endorse over any such Unpermitted Encumbrances pursuant to item (ii) above, Purchaser at its option, upon giving notice to Seller, may extend the date of Closing until the curing of such Unpermitted Encumbrances or fifteen (15) days from and after the previously scheduled date of Closing, whichever shall first occur. If any defect or objection shall not have been removed, cured or endorsed over within such period, Purchaser may exercise its option under either item (i), (ii) or (iii) hereof.
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. The Title Company shall be committed to issue the title policy in accordance with Section 3.2.
Title Policy. The Title Company shall issue (or shall be prepared and irrevocably and unconditionally committed to issue) the Title Policy as described in Section 5.3;
