Common use of Title Title Insurance Clause in Contracts

Title Title Insurance. At Closing, the Property shall be transferred to Buyer in and through the Deed, free and clear of all liens and encumbrances other than the Permitted Exceptions and any mortgage to be caused to be placed on the Property by Buyer to provide financing of the Purchase Price, and title to the Property shall be good, marketable, and insurable by the Title Company at its regular rates pursuant to the standard stipulations. Title Company shall have issued to Buyer a pro forma fee owner’s title policy or unconditional commitment and shall have issued to Lender a pro forma fee lender’s title policy or unconditional commitment, all meeting the requirements of Section 3 hereof in the amount of the Purchase Price (or the equivalent thereof), and the Title Company, subject to payment of all applicable fees, costs, and premiums, shall be ready, willing and irrevocably committed to issue an owner’s title policy to Buyer and an lender’s or loan title policy to Lender at Closing meeting the requirements of Section 3 hereof in the amount of the Purchase Price, together with any endorsements and affirmative coverages requested by Bxxxx (as to the owner’s title policy) and Lxxxxx (as to the lender / loan title policy).