Title Review Period. With respect to each Property separately, Purchaser shall have a period of time beginning the latter of (i) the execution of this Agreement or (ii) upon Purchaser's receipt of the Title Report for such Property and copies of all documents referred to therein and ending at 5:00 p.m., Central Standard Time, fifteen (15) business days thereafter (the "Title Review Period"), to review the Title Report for such Property and to give Seller and Escrow Agent notice of any title exceptions relating to such Property which are unacceptable to Purchaser. Purchaser shall be deemed to have waived its right to object to any exception included in the Title Report if Purchaser fails to notify Seller of such objections prior to the expiration of the Title Review Period for such Property. If Purchaser gives notice of dissatisfaction as to any exception to title as shown in the Title Report for any Property, or any amendment thereto, Seller may, but shall not be obligated to, attempt to eliminate the disapproved exception from the Title Report for such Property or any amendment thereto prior to the Closing Date for such Property. If Seller elects to eliminate the disapproved exception and does not eliminate it by a date which is at least ten (10) business days prior to the Closing Date for such Property, Purchaser's sole and exclusive remedies shall be to either (i) cancel this Agreement, with respect to such Property only, by giving Seller and Escrow Agent written notice of cancellation at least five (5) business days prior to the Closing Date for such Property, (ii) close such transaction, with respect to such Property only, subject to such previously disapproved exception, or (iii) cancel this Agreement in full, as to all Properties. Notwithstanding the foregoing, if Seller notifies Purchaser in writing of its election not to eliminate a disapproved exception to title, Purchaser shall have until the earlier of the Closing Date or five (5) business days after receiving Seller's written notice of such election to either (i) cancel this transaction or proceed to Closing, with respect to such Property only, or (ii) cancel this Agreement in full, as to all Properties. Purchaser's failure to make a timely election shall be deemed its election to close this transaction with respect to such Property only, taking title subject to any previously disapproved title exception. With respect to any amendments or updates to the Title Report or previous amendments or updates thereto, the s...
Title Review Period. Seller has delivered to Purchaser and Purchaser acknowledges receipt of (i) the following Commitment for Title Insurance with copies of all recorded instruments affecting the applicable portion of the Property and recited as exceptions in the Commitment for Title Insurance: Commitment No 3020-724461TX5 issued April 15, 2015 with regard to Regency by the Lake, Coppell, Texas (the "Commitment"). Promptly following receipt, Seller shall provide to Purchaser the ALTA/ACSM Land Title Survey (the "Survey"). At Closing, Purchaser shall reimburse Seller for the actual out-of-pocket amount paid by Seller to the surveyor for the Survey in the amount of $15,500 and the Purchaser will bear any cost to modify or change the Survey to include any items beyond the survey requirements of XXXXXXX MAC and XXXXXX MAE. If Purchaser has an objection to items disclosed in the Commitment or Survey, then Purchaser may give Seller written notice of its objections for a period ending on the later of (A) fifteen days after the Effective Date, or (B) ten (10) days after the receipt of the Survey, but in either case no event later than five (5) days before the expiration of the Feasibility Period. If Purchaser gives timely written notice of its objections, then Seller may, but has no obligation to (except as expressly provided herein), cure those objections for a period of two (2) Business Days from the date Seller receives Purchaser's notice ("Seller's Cure Period"). Seller shall utilize reasonable diligence to cure any errors in the Commitment, provided Seller has no obligation to expend any money, to incur any contractual or other obligations, or to institute any litigation in pursuing its efforts, other than to remove at Closing (i) financing liens of an ascertainable amount created by, through, or under Seller, (ii) any exceptions or encumbrances to title which are created by, under or through Seller after the date of the Commitment without Purchaser’s prior written consent, and (iii) any objections that Seller has specifically agreed, in writing, to cure ("Mandatory Cure Matters"). If any objection is not satisfied during Seller's Cure Period, then Purchaser shall elect not later than two (2) Business Days after the expiration of Seller's Cure Period, but in any event no later than the expiration of the Feasibility Period, as its sole and exclusive remedy to either: (i) terminate this Contract, in which case the Xxxxxxx Money (other than the Nonrefundable Deposit which will be pa...
Title Review Period. After receipt of the last of the Title Commitment, legible copies of the Exception Instruments, and the Survey, Purchaser shall have a period of twenty (20) days to review the state of Seller’s title to the Property (the “Title Review Period”). If the Survey, the Title Commitment or the Exception Instruments reflect or disclose any defect, exception or other matter affecting the Property (“Title Defects”) that is unacceptable to Purchaser for any reason whatsoever, then prior to the expiration of the Title Review Period, Purchaser may provide Seller with written notice of its objections, and Seller shall have ten (10) days (the “Cure Period”) from the date of the notice to remove or cure any Title Defects to the satisfaction of Purchaser. Seller shall use its reasonable, good faith efforts to remove or cure the Title Defects to Purchaser’s satisfaction, but shall not be required to incur any costs in doing so (other than as provided in Section 2.4 below) or to institute litigation. If Seller does not cure any or all of the Title Defects within the Cure Period, Seller shall notify Purchaser in writing, prior to the expiration of the Cure Period, of its failure to cure such Title Defects, and Purchaser may, prior to the later of (a) ten (10) days after receipt of Seller’s notice of its failure to cure or (b) the expiration of the Inspection Period (hereinafter defined), either (i) terminate this Agreement by written notice delivered to Seller, or (ii) elect to waive any uncured Title Defect. If Purchaser fails to terminate the Agreement by written notice delivered to Seller prior to the expiration of the time period referenced in the immediately preceding sentence, then any Title Defects that Seller has not cured shall be deemed waived by Purchaser. If Purchaser shall fail to notify Seller in writing of any objections to the state of Seller’s title to the Property as shown by the Title Commitment, the Exception Documents or the Survey, or if Purchaser elects to waive all or any of the Title Defects, or is deemed to have waived all or any of the Title Defects, then any exceptions to Seller’s title to which Purchaser has not objected or which have been objected to and waived by Purchaser and which are disclosed by the Title Commitment shall be considered to be “Permitted Exceptions.” If Purchaser terminates this Agreement pursuant to this section, then neither Seller nor Purchaser shall have any further rights or obligations under this Agreement and the Exxxxx...
Title Review Period. The Title Review Period shall be a period of sixty (60) days from and after the Effective Date.
Title Review Period. The “Title Review Period” shall end on June 2, 2022, at 5:00 p.m. (California time).
Title Review Period. The "TITLE REVIEW PERIOD" shall end on September 16, 2004, at 5:00 p.m. (California time).
Title Review Period. Seller and Purchaser agree to extend the Title Review Period set forth in Section 6(b) of the Contract, as the Title Review Period relates to Survey matters only, to 5:00 P. M. on November 22, 2005 for the sole purpose of allowing Purchaser to complete and review the Survey of the Property and object to Survey matters only which materially affect Purchaser’s intended use of the Property. Purchaser agrees to deliver the Additional Deposit of $500,000.00 to the Escrow Agent on or before November 23, 2005. Furthermore, Purchaser acknowledges and agrees that the Initial Deposit and the Additional Deposit shall be deemed non-refundable to Purchaser until Closing unless Seller shall default under the Contract, or a title matter arises under Section 6(c) of the Contract and Purchaser terminates the Contract pursuant to the provisions of Section 6(c) of the Contract, or the Survey discloses a defect which materially affects Purchaser’s intended use of the Property and which defect Seller is unable to cure following notification by Purchaser of such defect as provided in the Contract.
Title Review Period. Section 7.4.1 of the Agreement is hereby revised as follows:
(a) The Title Review Period shall terminate at 5:00 p.m. (Chicago time) on June 21, 2006.
(b) The following language is hereby deleted from the second sentence of Section 7.4.1: “; provided, however, that Purchaser shall be deemed to have timely delivered a Purchaser’s Defect Notice with respect to any Updated Survey if such Purchaser’s Defect Notice is delivered within two (2) business days after receipt thereof”.
(c) Seller’s Election Period shall expire at 12:00 p.m. (Chicago time) on June 22, 2006.
(d) The parenthetical in the first full sentence on page 8 of the Agreement is hereby deleted and replaced with the following: “(on or before the Approval Date)”.
Title Review Period. Buyer shall have until ten business (10) days (the "Title Review Period") after receipt of the Title Commitment (and legible copies of all instruments referred to in the Title Commitment) and the Survey to notify Seller, in writing, of such objections as Buyer may have to anything contained in the Title Commitment or the Survey. Any item contained in the Title Commitment or the Survey to which Buyer does not object during the Title Review Period shall be deemed a "Permitted Exception".
Title Review Period. Purchaser will have 15 days (the "Title Review Period") after receipt of the last of the Survey, Title Commitment and Title Documents to review them and to deliver a written notice to Seller stating any objections Purchaser may have to them or any item disclosed by them. Purchaser's failure to object within the time provided will be a waiver of the right to object. Any item to which Purchaser does not object will be deemed a "Permitted Exception." The items set forth on Schedule C of the Title Commitment, and any other items the Title Company identifies to be released upon the Closing, will be deemed objections by Purchaser. Zoning ordinances and the lien for current taxes are deemed to be Permitted Exceptions.
