Title to the Real Property. (a) Effective as of the Closing Date, but conditioned upon Closing and at Parent’s sole cost and expense, Title Company shall endorse each Title Policy to make such Title Policy effective as of the date of Closing and shall endorse each such Title Policy with a non-imputation endorsement in favor of Parent.
Title to the Real Property. EXTENSION OF THE CLOSING
Title to the Real Property. Upon transfer of the Real Property from the owners thereof to Company as provided in Section 3.7(b), Buyer will own good and marketable title to the Real Property, free and clear of any Encumbrances, other than liens for Taxes for the current tax year which are not yet due and payable ("Real Property Encumbrances"). On or before the Closing, true and complete copies of (A) all deeds, existing title insurance policies and surveys of or pertaining to the Real Property and (B) all instruments, agreements and other documents evidencing, creating or constituting any Real Property Encumbrances shall be delivered to Buyer.
Title to the Real Property. Effective as of the Close of Escrow, but conditioned upon the Close of Escrow, Title Insurer shall issue to Purchaser Title Insurer’s C.L.T.A. Owner’s Policy of Title Insurance (standard coverage) (the “Title Policy”), with liability in the amount of the Purchase Price for the Real Property insuring title therein as vested in Purchaser subject only to the following matters affecting title (“Permitted Exceptions”).
Title to the Real Property. (a) As a condition to the Closing, First American Title Insurance Company (in its capacity as title insurer, the “Title Company”) shall have irrevocably committed to insure Purchaser as the fee owner of the Real Property in the amount of the Purchase Price by issuance of an ALTA extended coverage owner’s title insurance policy (the “Owner’s Policy”), subject only to the “Permitted Exceptions” (as hereinafter defined). Purchaser shall satisfy itself prior to the expiration of the Due Diligence Period that the Title Company will be willing to issue the Owner’s Policy and any endorsements required by Purchaser at Closing. The issuance of a CLTA owner’s title insurance policy in the standard form issued by the Title Company in the State of California shall be a condition to Closing for Purchaser’s benefit, it being understood that the issuance of the ALTA extended coverage and endorsements to such policy shall not be such a condition to Closing. Seller shall execute the Title Company’s so-called customary “Owner’s Affidavit” in connection with the issuance of the Owner’s Policy and Purchaser’s requested endorsements.
Title to the Real Property. Borrower shall, and shall cause each Borrower Subsidiary to, warrant and defend (a) its title to the Real Property and every part thereof, subject only to Permitted Encumbrances and (b) the validity and priority of the Liens of the Mortgages, the Assignment of Leases and this Agreement on the Real Property, subject only to Permitted Encumbrances, in each case against the claims of all Persons whomsoever. Borrower shall, and shall cause each Borrower Subsidiary to, reimburse Lender for any losses, costs, damages or expenses (including reasonable attorneys’ fees and court costs) incurred by Lender if an interest in the Real Property, other than as permitted hereunder, is claimed by another Person.
Title to the Real Property. Buyer acknowledges that Seller has provided to Buyer that certain Preliminary Report dated September 24, 2020, Order No. NCS-1032303 (the “Title Report”), prepared by the Title Company, together with copies of all title exception documents shown on the Title Report. Seller shall convey title to the Property to Buyer by a duly executed and acknowledged Special Warranty Deed (the “Deed”) in the form attached hereto as Exhibit B, subject to the following (the “Permitted Exceptions”): (a) all matters affecting title shown in the Title Report other than Required Removal Exceptions, (b) matters which would be shown on an accurate ALTA survey of the Property or by a physical inspection of the Property, (c) taxes and assessments which are not yet due and payable as of the Closing Date, and (d) any other matters created, permitted or approved by Buyer. “Required Removal Exceptions” shall mean, collectively, the following: (A) any voluntary liens entered into by Seller and evidencing monetary encumbrances (other than liens for real estate taxes or assessments not yet due and payable, which shall be prorated in accordance with this Agreement) (“Monetary Liens”); or (B) any and all liens or encumbrances (excluding Monetary Liens) entered into by Seller after the Agreement Date in violation of this Agreement. If this Agreement is not terminated by Buyer in accordance with the provisions hereof, Seller shall, at Closing, remove or cause to be removed any Required Removal Exceptions. Seller may use any portion of the Purchase Price to satisfy any Required Removal Exceptions that exist as of the Closing Date, provided such payment causes the Title Company to remove the same at Closing. Buyer’s acceptance of the Deed from Seller for the Property at the Closing on the Closing Date and the issuance of the Title Policy (as hereinafter defined) to Buyer by the Title Company on the Closing Date shall conclusively establish that Seller conveyed the Property to Buyer as required by this Agreement.
Title to the Real Property. Seller has, prior to the Effective Date, at its sole cost and expense, delivered a commitment for an ALTA Form B owner policy of title insurance issued by XxXxx Xxxxxxx, agent for Old Republic National Title Insurance Company (“Title Insurer”), together with legible copies of all instruments identified in Schedule B-II therein (the “Commitment”). The Commitment bears an effective date of August 24, 2011, at 11:00 PM, is in an amount of $3,806,864.00, and bears an Agent’s File Reference number of OH3381. Pursuant to the Commitment, the Title Insurer has agreed to insure in an amount equal to the Purchase Price, that upon delivery of a special warranty deed from Seller to Purchaser, Purchaser shall have fee simple title to the Real Property free and clear of all matters except for the exceptions set forth therein. At Closing, Seller shall cause Title Insurer, or its agent, to “mark up” the Commitment, thereby obligating Title Insurer to issue an owner’s policy of title insurance to Purchaser within thirty (30) days of Closing, in strict compliance with such marked up Commitment. Seller shall cause the Title Insurer, in its “mark up”, to (a) show all requirements in Schedule B-I therein satisfied, and (b) delete items 1 and 2 set forth in Schedule B-II; provided however, that the Title Insurer, or its agent, may take exception for any adverse matters appearing upon the Survey (as defined in Section 6 below).
Title to the Real Property. Effective as of the Closing Date, but conditioned upon Closing and the payment of the title insurance premium, Escrow Agent shall cause Title Insurer to issue to Purchaser, with respect to the Real Property, Title Insurer’s ALTA Owner’s Policy of Title Insurance (standard coverage) (the “Title Policy”) with respect to the Real Property, with the liability under the Title Policy being equal to the Purchase Price, insuring the fee title in the Real Property as vested in Purchaser subject only to the following matters affecting title (“Permitted Exceptions”):
Title to the Real Property. Borrower will warrant and defend the title to the Real Property, and the validity and priority of all Liens granted or otherwise given to Lender under the Loan Documents, subject only to Permitted Encumbrances, against the claims of all Persons.
