Title/Survey. Seller shall furnish good, marketable and insurable title to the Property at closing. “Insurable” as used herein is defined to mean title which is insurable by Lawyers Title Insurance Corporations, c/o Sxxxxx Xxxxxxxx, 1000 Xxxxxxxx Xxxxx, Xxxxx 000, Xxxx, XX 00000 (the “Title Company”) at its standard rates without standard exceptions except for those exceptions, if any, approved in writing by Buyer after receipt of a title commitment from the Title Company dated after the date of this Agreement and accompanied by copies of all documents referred to therein and the survey referenced below which locates all easements and other existing improvements. Buyer shall be responsible for any additional survey work, or to re-certify the survey to Buyer and the Title Company, if desired by Buyer including any requirement of the title company for an ALTA survey in order to remove the standard title exceptions and to issue the title commitment and subsequent title policy without standard exceptions. Seller shall deliver to Buyer within ten (10) days hereof, the title commitment referenced above, that certain survey identified as Job No. 332-B, dated June 10, 2005 prepared by Boulder Design Services, LLC and copy of traffic study from 2005 (“Seller Documents”). Buyer shall then have twenty (20) calendar days after receipt of the Seller Documents in which to examine same. If Buyer finds any defects or exceptions to Seller Documents which (a) render the title not marketable or insurable or (b) render the Property unsuitable for the Intended Use (hereinafter defined), Seller shall be furnished with a written statement thereof prior to the expiration of the twenty (20) day period; and Seller shall have fifteen (15) calendar days after receipt of Buyer’s notice in which to correct or delete all such defects or exceptions. If Seller shall fail to correct such defects or exceptions within such period, then Buyer shall have an additional fifteen (15) calendar days thereafter to either: (i) decline to accept the Property with such defects or exceptions, terminate this Agreement, and receive a refund of the deposit(s) made by Buyer hereunder together with any interest accrued thereon; or (ii) accepting the Property with such defects and exceptions, in the event they can be cured prior to the Close of Escrow. Upon approval by Buyer of the title shown in the title commitment, as provided herein, and the delivery to Buyer at the Seller’s expense at the Close of Escrow of an ALTA ow...
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 a) Seller has ordered from the Title Company a commitment (the “Commitment”) to issue an ALTA Owner’s Policy of Title Insurance in an amount equal to the Purchase Price (the “Title Policy”). Buyer shall have the right to order and obtain, at its expense, a new survey or an update of Seller’s existing survey, if any, of the Property (collectively, the “Survey”). In the event Buyer desires to obtain a Survey, then Buyer shall order same no later than five (5) days after the Effective Date and shall deliver a copy of the Survey to Seller promptly upon receipt from the surveyor. The Survey shall be certified to Seller, Buyer and the Title Company. The Survey shall be in form and substance sufficient to delete the standard survey exception from the Title Policy. On or before the Closing Date, Seller shall execute and deliver to the Title Company an affidavit to delete the standard preprinted exception for mechanic’s liens from the Title Policy, substantially in the form of Exhibit “H” (the “Title Affidavit”). It shall be a condition precedent to Xxxxx’s obligation to purchase the Property that the Title Company can and will, on the Closing Date, issue the Title Policy in accordance with the Commitment and subject only to the Permitted Exceptions (as hereinafter defined).
Title/Survey. Seller agrees to convey the Property to Purchaser subject only to the Permitted Exceptions (as defined below):
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. 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. 26 a) The Seller shall convey title by statutory warranty deed or .
Title/Survey. Within ten (10) days of the date hereof, the Seller shall provide to the Purchaser the following title documents (the "Title Documents"): A copy of Seller's existing fee policy of title insurance and a copy of Seller's most recent survey (Seller is not obligated to obtain a new survey). Within thirty (30) days after receiving the Title Documents and updated survey of the Property, Purchaser shall notify the Seller of objections Purchaser has to title and survey matters. Within ten (10) days after such notification, the Seller shall notify the Purchaser whether the Seller is willing to cure such defects. If the Seller is willing to cure such defects, the Seller shall act promptly and diligently to cure such defects at its expense. If such defects consist of deeds of trust, mortgages, mechanics' liens, tax liens or other liens or charges in a fixed sum or capable of computation as a fixed sum, the Seller shall pay and discharge or shall bond off with a bonding company acceptable to the Purchaser (and the Escrow Agent is authorized to pay and discharge at Closing) such defects at Closing. If Purchaser's title commitment discloses title defects affecting marketability of title or adversely affecting access to or use of the Property as hotels, which defects are not capable of computation as a fixed sum, then Seller shall use its best efforts to cure such defect. If the Seller is unwilling or unable to cure any other such defects by Closing, the Purchaser shall elect (1) to waive such defects and proceed to Closing without any abatement in the Purchase Price or (2) to terminate this Agreement and receive a full refund of the Xxxxxxx Money and cancellation of the Letter of Credit (as hereinafter defined). The Seller shall not, after the date of this Agreement, subject the Property to any liens, encumbrances, covenants, conditions, restrictions, easements or other title matters or seek any zoning changes or take any other action which may affect or modify the status of title without the Purchaser's prior written consent. All title matters revealed by the Purchaser's title examination and not objected to by the Purchaser as provided above shall be deemed Permitted Title Exceptions. If Purchaser shall fail to examine title and notify the Seller of any such title objections as set forth herein, all such title exceptions (other than those rendering title unmarketable and those that are to be paid at Closing as provided above) shall be deemed Permitted Title Exceptions...
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, and encumbrances that Landowners will discharge at or before Closing and any matters of record or visible upon the inspection of the Land and not objected to as provided below. City shall obtain a title commitment from a title agent selected by City within thirty (30) days of the date that the Replat is recorded. Further, Landowners will provide City a copy of the boundary survey prepared by Landowners in connection with the replat, which will be certified to City, and show all schedule B-2 exceptions listed on City’s title commitment. Within forty-five (45) days after the Replat is recorded, 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.
