Common use of Updated Title Evidence Clause in Contracts

Updated Title Evidence. Prior to Closing, Seller shall furnish an updated commitment dated after the date of this Agreement (the “Updated Title Evidence”) for the issuance of a standard ALTA owner’s title insurance policy in the amount of the Purchase Price insuring marketable title to the Purchased Surface Tracts in the name of Buyer (with respect to the surface rights only, subject to the Permitted Exceptions). Buyer agrees to accept the Updated Title Evidence furnished by Seller notwithstanding: (i) standard exceptions, conditions and requirements; (ii) any exception, condition or requirement that Seller intends to satisfy and/or remove (and is in fact satisfied and/or removed) at the time of or prior to Closing; (iii) any specific or general exception or exclusion with respect to Minerals; and/or (iv) any matter listed, described or revealed in the Updated Title Evidence that constitutes a Permitted Exception. Seller shall pay all search fees, abstracting expenses and attorney’s fees incurred for the preparation of the Preliminary Title Evidence and the Final Title Commitment. However, Seller is not required to pay for the issuance of a title insurance policy.

Updated Title Evidence. Prior to Closing, Seller shall furnish an updated commitment title evidence for the Property dated after the date of this Agreement and consisting of a title insurance commitment in Buyer’s name (the “Updated Title Evidence”) for ). Buyer’s obligation to acquire the issuance of a standard ALTA owner’s title insurance policy in Property at Closing is subject to the amount of condition that the Purchase Price insuring Updated Title Evidence discloses and/or commits to insure marketable title to the Purchased Surface Tracts in the name of Buyer (with respect to the surface rights only, subject to Property subjectto the Permitted Exceptions). ; provided, however, Buyer agrees to accept the Updated Title Evidence furnished by Seller notwithstanding: (ia) standard exceptions, conditions and requirements; (iib) any exception, condition or requirement that Seller intends to satisfy and/or remove (and is in fact satisfied and/or removed) at the time of or prior to Closing; (iii) any specific or general exception or exclusion with respect to Minerals; and/or (ivc) any matter listed, described or revealed in the Updated Title Evidence that constitutes a Permitted Exception. Seller shall pay all search fees, abstracting expenses and attorney’s fees incurred for the preparation of the Preliminary Title Evidence and any additional charge for preparing the Final Updated Title Commitment. However, Seller is not required to pay for the issuance of a title insurance policyEvidence.

Updated Title Evidence. Prior to Closing, Closing Seller shall furnish an updated commitment at Seller’s expense a final commitment, dated after the date of this Agreement (the “Updated Title Evidence”) Auction, for the issuance of a standard ALTA owner’s title insurance policy insuring fee simple title to the Property in the name of Buyer for the amount of the Purchase Price insuring marketable title to the Purchased Surface Tracts in the name Price, free and clear of Buyer any material encumbrance that does not constitute a Permitted Exception (with respect to the surface rights only, subject to the Permitted Exceptions“Updated Title Evidence”). Buyer agrees to accept the Updated Title Evidence furnished by Seller notwithstanding: (ia) standard exceptions, conditions and requirements; (iib) any exception, condition or requirement that Seller intends to satisfy and/or remove (and is in fact satisfied and/or removed) at the time of or prior to Closing; (iiic) any specific or general exception or exclusion with respect to Minerals; and/or (ivd) any matter listed, described or revealed in the Updated Title Evidence that constitutes a Permitted Exception. Seller shall pay all search feesSubject to the foregoing provisions, abstracting expenses and attorney’s fees incurred for Xxxxx agrees to accept the preparation of the Preliminary Updated Title Evidence and issued by the Final Title Commitment. However, Seller is not required to pay for same title company that prepared the issuance of a preliminary title insurance policyschedules described in Section 7 above.