Title/Survey. Buyer acknowledges that Seller has delivered to the Buyer a the Title Commitment issued by the Title Company for the issuance of an ALTA Form B Owner's Title Insurance Policy (1992) (the "Title Policy") insuring fee simple title to the real property owned by the Seller and part of the Acquired Assets, all as more particularly described in Schedule 1 hereto (the "Real Property"). The Title Commitment was accompanied by copies of all instruments and documents of record referenced therein. Buyer acknowledges that Seller, at Seller's sole cost and expense, has delivered to Buyer an Urban ALTA/ASCM Land Title Survey (the Survey") certified to the Buyer and the Title Company meeting accuracy standards jointly adopted by the American Land Title Association and the American Congress on Surveying and Mapping and incorporating the following Table A-Optional Survey Responsibilities and Specifications": Items 1,2,3,4 (as to gross land area), 6, 7, 8, 9, 10, 11 and 13. All exceptions listed in the Title Commitment or revealed on the Survey are approved by Buyer and shall therefore be considered "Permitted Exceptions" for purposes of this Agreement. It shall be a condition to Buyer's obligation to proceed with the Closing that, when issued to Buyer at Closing or in accordance with escrow arrangements, the Title Policy shall include full extended coverage over all general exceptions and the Required Endorsements; provided however, Buyer represents and warrants to Seller that the Buyer has confirmed that (i) all Required Endorsements are available in the State of Oregon and, (ii) the Buyer is ready, willing and able to satisfy all requirements of the Title Company in order to obtain such Required Endorsements. Buyer shall have the option to request, at Buyer's sole cost and expense, that the Title Company agree to provide coverage against matters relating to federal bankruptcy, state insolvency or similar creditors' rights laws, and the following endorsements: an ALTA 3.1 zoning endorsement (with parking) and contiguity endorsement (the "Required Endorsements") and such other endorsements as Buyer may request (the "Additional Endorsements"). Buyer shall have the option to request, at Buyer's sole cost and expense, that the Title Company reinsure portions of the risk covered by the Title Policy with reinsurance companies reasonably satisfactory to Buyer under standard reinsurance agreements providing, at a minimum, for direct access and enforcement of rights by the insured...
Title/Survey. (a) On or prior to the Effective Date, Buyer shall order from the Title Company commitments (individually, a “Commitment” and collectively, the “Commitments”) to issue ALTA 2006 Owner’s Policies of Title Insurance in an amount equal to the allocated portion of the Purchase Price applicable to each of the Properties dated as of the time and date of Closing, or later and being subject only to the Permitted Exceptions (as hereinafter defined) as to each of the Properties (individually a “Title Policy” and collectively, the “Title Policies”). Buyer shall have the right to order and obtain, at its expense, surveys of the Properties (individually, a “Survey” and collectively the “Surveys”). In the event Buyer desires to obtain a Survey, then Buyer shall order same no later than five (5) days after the Effective Date. The Surveys shall be certified to Sellers, Buyer and the Title Company. The Surveys shall be in form and substance sufficient to delete the standard survey exceptions for survey matters from the Title Policies. On or before the Closing Date, Sellers shall execute and deliver to the Title Company owner’s affidavits as to each of the Properties in the form attached hereto as Exhibit “B”, in support of the issuance of the Title Policies. It shall be a condition precedent to Buyer’s obligation to purchase the Properties that the Title Company can and will, on the Closing Date, irrevocably commit to issue the Title Policies in accordance with the Commitments and subject only to the Permitted Exceptions applicable to each of the Properties.
(b) Buyer shall have the right to object to: (i) any matters disclosed by the Commitments (“Title Objections”) and (ii) in the event Buyer shall have ordered Surveys pursuant to Section 3.2(a), any matters disclosed by the Surveys (“Survey Objections”), provided that Buyer delivers written notice of any valid Title Objections or Survey Objections on or before October 3, 2011; otherwise any such objections shall be deemed to be waived. If Buyer delivers in a timely manner written notice of any Title Objections and/or Survey Objections (collectively, “Objections”), then Sellers shall, within five
Title/Survey. The Collateral Agent shall have received title insurance policies with respect to each Real Property Asset from Lawyers Title Insurance Company or another title company reasonably acceptable to the Collateral Agent and real property surveys with respect to the Real Property Assets, all in form and substance reasonably satisfactory to the Collateral Agent.
Title/Survey. Each Title Commitment and the related Title Documents (as such terms are defined in Section 4.2) and the most recent survey in Seller’s possession with respect to the Land and Improvements for each of the Facilities (collectively, the “Existing Surveys”).
Title/Survey. Paragraph 6 of the Agreement is hereby deleted in its entirety. Any and all references in the Agreement to Paragraph 6 shall mean and refer to Paragraph 5 of the Agreement. Paragraph 5 of the Agreement is hereby amended and restated in its entirety as follows:
Title/Survey. City will take title to the Land subject only to 1) matters of plat, existing zoning and government regulations, 2) oil, gas and mineral rights of record if there is no expressed or implied right of entry, 3) current taxes, 4) terms and conditions of that certain Parking Easement encumbering the Gulfshore Tract, dated November 19, 2004, and recorded at O.R. Book 3695, Page 1383, as amended in O.R. Book 5442, Page 1807, of the Public Records of Xxxxxxx County and as may be amended in the future by the City and the easement holder (“the Parking Easement”), and any matters of record or visible upon the inspection of the Land and not objected to as provided below (“Permitted Exceptions”). City shall obtain a title commitment (“Title Commitment”) from a title agent selected by City within thirty (30) days of the date of the Real Estate Contract. Further, Landowners will provide City a copy of a boundary survey of the Parking Garage Parcel, which will be certified to City, and its title agent, and which will show all schedule B-2 exceptions listed on the Title Commitment. Within thirty (30) days after receipt of the Title Commitment, City will notify Landowners in writing of any objections in title revealed by the Title Commitment or Survey, which would in City’s reasonable determination, prevent use of the Parking Garage Parcel for purposes of constructing a public parking garage for use by the general public, consistent with the terms and conditions of this Agreement (“Title and Survey Objections”). Landowners will make diligent, good faith efforts to remove said Title and Survey Objections prior to Closing, at Landowners’ expense. If, after diligent good faith efforts, Landowners cannot remove the Title and Survey Objections prior to Closing and provide notice to the City in writing of the same, then the parties may agree to extend the Closing in order to grant Landowners’ additional time necessary to remove or resolve the defects, the City may elect to accept the title as it then is and proceed to Closing, or the City may elect to terminate this Agreement by written notice to Landowners.
Title/Survey. Good and marketable title in fee simple to the Residual City Parcel shall be conveyed by City to Developer at the Developer Option Closing, free and clear from all liens, encumbrances, covenants and restrictions except for the Permitted Encumbrances and in the same Developable Condition as existed on the date of the Xxxxxx/Xxxx Parcels Closing. In connection therewith, Developer, at its option, may obtain at any time during the Developer Option Period at Developer’s sole cost and expense, an additional ALTA/ACSM survey of the Residual City Parcel together with a title insurance commitment relative to the Residual City Parcel prepared and issued, respectively, by a surveyor and a title insurance company selected by Developer.
Title/Survey. No later than October 24, 2003, Seller shall deliver or cause to be delivered to Purchaser an as-built survey of the Property prepared by a surveyor licensed in the State of Oklahoma (the "Survey") certified to Purchaser, Purchaser's lender, if any, the Title Insurer and such other parties as Purchaser shall designate in writing to Seller prior to delivery of the Survey, and prepared in accordance with the Accuracy Standards and Minimum Standard Detail Requirements for ALTA-ACSM Land Title Surveys as adopted by the American Land Title Association, the American Congress on Surveying and Mapping and the National Society of Professional Surveyors in 1999, and prepared in accordance with the items set forth in the Surveyor's Certificate and other requirements attached hereto as EXHIBIT "F" and made a part hereof. Seller shall be responsible to pay for the costs of the Survey up to a total cost of $1,000. Purchaser shall pay the costs of the Survey in excess of $1,000. Notwithstanding the foregoing, if the cost of the Survey is expected to exceed the amount that Seller is obligated to pay, then, prior to ordering the same, Seller shall obtain Purchaser's prior approval of the cost thereof. Any and all references contained in this Agreement to the "Survey" and the "As-Built Survey" shall mean and refer to the Survey. No later than three (3) days after the Effective Date, Purchaser shall, at Seller's sole cost and expense, order from the Title Insurer (as defined hereinbelow) a commitment for an ALTA Owner's Title Insurance Policy (the "Title Commitment") for the Property, together with legible copies of any and all title exception documents referenced therein, issued by Chicago Title Insurance Company (the "Title Insurer") in the amount of the Purchase Price of the Property, showing Seller as owner of the Property in fee simple, subject only to the title exceptions approved or deemed approved by Purchaser pursuant to this Paragraph 5 (each a "PERMITTED EXCEPTION"), and other exceptions pertaining to liens or encumbrances of a definite or ascertainable amount (which, in the aggregate, do not exceed that portion of the Purchase Price payable to Seller on the Closing Date) which may be removed by the payment of money at closing and which Seller shall so remove, and providing for full extended coverage over all general title exceptions contained in such Title Commitment and the following special endorsements (collectively, the "SPECIAL TITLE ENDORSEMENTS"): Zoning E...
Title/Survey. (a) Immediately upon execution of this Agreement, the Conditional Redeveloper shall cause an examination of title to be made as to the Property. A copy of the title report(s) shall be provided to the Town upon Redeveloper's receipt thereof, but in no event later than December 15, 2006. If the examination of title discloses any objections or defects to title as to the Out Parcel that cannot be removed by condemnation and which would render title uninsurable at regular rates, the Redeveloper may cancel this Agreement on written notice delivered to the Town no later than December 15, 2006.
(b) During the Due Diligence Period, the Redeveloper shall, at its sole cost and expense, also cause a survey to be prepared of the Property, which survey shall be certified to the Town. A copy of the survey shall be provided to the Town no later than December 15, 2006. If the Redeveloper's survey discloses the existence of boundary line issues, gaps or issues that cannot be removed by condemnation and which would render title uninsurable at regular rates, the Redeveloper may cancel this Agreement by written notice no later than December 15, 2006.
Title/Survey. 26 a) The Seller shall convey title by statutory warranty deed or .
27 b) The Property may be subject to restrictions contained on the Plat; in the Deed; in covenants, conditions, and re- 28 strictions; or other documents noted in the preliminary title report.
29 c) On or before (date), Seller will, at Seller’s sole expense, order 30 the report and exceptions from (Title Company) and furnish to Buyer.
31 d) Upon receipt of the report and exceptions, Buyer shall have business days (three (3) if not filled in) 32 within which to notify Seller, in writing of any matters disclosed in the report, which are unacceptable to Buyer. Buy- 33 er’s failure to timely object, in writing shall constitute acceptance of the report.
34 e) If, within business days (three (3) if not filled in) following receipt of the objections, Seller fails to re- 35 move or correct the matters identified in the objections, or does not give written assurances reasonably satisfactory 36 to Buyer that they will be removed or corrected prior to the recording date this transaction shall automatically termi- 37 nate.
38 f) After recording, Buyer shall receive an owner’s standard form policy of title insurance insuring marketable title in the 39 Property to Buyer in the amount of the purchase price, free and clear of the objections and all other title exceptions 40 agreed to be removed as part of this transaction.
41 g) Mineral rights may not pass with title to the Property.
42 h) Neither Seller nor Seller’s licensee make any representation as to the location of the lot corners or boundary lines.
