Common use of Title Policy and Survey Clause in Contracts

Title Policy and Survey. At Closing, LVSC shall cause Fidelity National Title Insurance Company (the “Title Insurer”) to issue an ALTA 2006 extended coverage owner’s policy of title insurance, in the amount of (a) Seventy-Seven Million Five Hundred Thousand and No/100 Dollars ($77,500,000.00) plus (b) the estimated cost of the construction of the Stadium, or such lesser amount which the Authority may reasonably require, insuring that fee simple title to the Property is vested in the Authority, subject only to the Permitted Exceptions, and containing such endorsements reasonably requested by the Authority, all in form and substance reasonably acceptable to the Authority (the “Title Policy”). Prior to Closing and in furtherance of the Title Policy, LVSC shall also cause to be delivered to the Authority and the Title Insurer an ALTA/NSPS survey for the Property, prepared by a surveyor licensed in the State of Nevada and reasonably acceptable to the Authority, which survey shall utilize a current title commitment for the Property issued by the Title Insurer, be certified to the Authority and the Title Insurer, and otherwise be in a form and substance acceptable to the Authority and the Title Insurer.

Title Policy and Survey. At Closing, LVSC shall cause Fidelity First AmericanFidelity National Title Insurance Company (the “Title Insurer”) to issue an ALTA 2006 extended coverage owner’s policy of title insurance, in the amount of (a) Seventy-Seven Million Five Hundred Thousand and No/100 Dollars ($77,500,000.00) plus (b) the estimated cost of the construction of the Stadium, or such lesser amount which the Authority may reasonably require, insuring that fee simple title to the Property is vested in the Authority, subject only to the Permitted Exceptions, and containing such endorsements reasonably requested by the Authority, all in form and substance reasonably acceptable to the Authority (the “Title Policy”). Prior to Closing and in furtherance of the Title Policy, LVSC shall also cause to be delivered to the Authority and the Title Insurer an ALTA/NSPS survey for the Property, prepared by a surveyor licensed in the State of Nevada and reasonably acceptable to the Authority, which survey shall utilize a current title commitment for the Property issued by the Title Insurer, be certified to the Authority and the Title Insurer, and otherwise be in a form and substance acceptable to the Authority and the Title Insurer.

Title Policy and Survey. At Closing, LVSC shall cause Fidelity National Title Insurance Company [ ] (the “Title Insurer”) to issue an ALTA 2006 extended coverage owner’s policy of title insurance, in the amount of (a) Seventy-Seven Million Five Hundred Thousand and No/100 Dollars ($77,500,000.00) plus (b) the estimated cost of the construction of the Stadium, or such lesser amount which the Authority may reasonably require, insuring that fee simple title to the Property is vested in the Authority, subject only to the Permitted Exceptions, and containing such endorsements reasonably requested by the Authority, all in form and substance reasonably acceptable to the Authority (the “Title Policy”). Prior to Closing and in furtherance of the Title Policy, LVSC shall also cause to be delivered to the Authority and the Title Insurer an ALTA/NSPS survey for the Property, prepared by a surveyor licensed in the State of Nevada and reasonably acceptable to the Authority, which survey shall utilize a current title commitment for the Property issued by the Title Insurer, be certified to the Authority and the Title Insurer, and otherwise be in a form and substance acceptable to the Authority and the Title Insurer.