USE OF MONEY TO CLEAR TITLE. To enable the SELLER to make conveyance as herein provided, the SELLER may, at the time of delivery of the deed, use the purchase money or any portion thereof to clear the title of any or all encumbrances or interests, provided that all instruments so procured are recorded simultaneously with the delivery of said deed.
USE OF MONEY TO CLEAR TITLE. To enable the SELLER to make conveyance as herein provided, the SELLER may, at the time of delivery of the deed, use the purchase money or any portion thereof to clear the title of any or all encumbrances or interests, provided that all instruments so procured are recorded simultaneously with the delivery of said deed or, in the case of institutional lenders, within a reasonable time thereafter, in accordance with customary Massachusetts conveyancing practices.
USE OF MONEY TO CLEAR TITLE. To enable the SELLER to make conveyance as herein provided, the SELLER may, at the time of delivery of the deed, use the purchase money or any portion thereof to clear the title of any or all encumbrances or interests, provided that all instruments so procured are recorded simultaneously with the delivery of said deed, or in the case of mortgages granted by the SELLER to institutional lenders which are paid in full from the sale proceeds within a reasonable time after the delivery of said deed in accordance with local conveyancing practices. The discharge of any privately held mortgages shall be required to be delivered and recorded at or prior to Closing.
USE OF MONEY TO CLEAR TITLE. To enable the Sellers to convey title as herein provided, on the Closing Date, the Sellers may use the Purchase Price or any portion thereof to clear title provided that all instruments evidencing the clearing thereof are delivered at Closing except that, in the case of a mortgage held by an institutional lender and provided that the Title Company accepts the same in lieu of an actual discharge or lien release, the Sellers may deliver a “pay-off” letter satisfactory to the Title Company and the Title Company shall promptly thereafter obtain and record a discharge.
USE OF MONEY TO CLEAR TITLE. To enable the Sellers to comply with their obligations hereunder, on the Closing Date, the Sellers may use the Purchase Price or any portion thereof to clear title to any of the Assets, the Securities and/or the Properties provided that all instruments evidencing the clearing thereof are delivered at Closing; EXCEPT THAT, in the case of a mortgage held by an institutional lender and provided the Title Company accepts the same in lieu of an actual discharge or lien release, the Sellers may deliver a "pay-off" letter satisfactory to the Title Company and shall promptly thereafter obtain and record a discharge. 108 <PAGE> ARTICLE 9
USE OF MONEY TO CLEAR TITLE. To enable the SELLER to make conveyance as herein provided, the SELLER may, at the time of delivery of the deed, use the purchase money or any portion thereof to clear the title of any or all encumbrances or interests, provided that all instruments so procured are recorded simultaneously with the delivery of said deed or in accordance with customary conveyancing practice in Bristol County, Massachusetts.
USE OF MONEY TO CLEAR TITLE. To enable the SELLER to make conveyance as herein provided, the SELLER may, at the time of delivery of the deed, use the purchase money or any portion thereof to clear the title of any or all encumbrances or interests, provided that all instruments so procured are recorded either simultaneously with the deed or upon receipt within a reasonable time thereafter in accordance with the standard conveyancing practices within Xxxxx County.
USE OF MONEY TO CLEAR TITLE. To enable SELLER to make conveyance as herein provided, SELLER may, at the time of delivery of the deed, use the purchase money or any portion thereof to clear the title of any or all encumbrances or interests, provided that all instruments so procured are recorded in conformance with generally accepted practices of Massachusetts conveyancers. ________ BJS 12/03/20 11:01 AM EST CWS ________ _ 12/03/20 11:00 AM EST ________ 12/03/20 7:07 PM EST KPC ________ _ 12/03/20 6:33 PM EST BUYEdoRtlo’osp vIenrifiiteidals BUdYotlEooRp v’esrifiIend itials SELdLotElooRp v’esrifIienditials SEdLotLloEopRve’rsifieIdnitials
USE OF MONEY TO CLEAR TITLE a. Use of closing proceeds to clear title
USE OF MONEY TO CLEAR TITLE. The BUYER shall have the election, at either the original or any extended time for performance, to accept such title as the SELLER can deliver to the said premises in their then condition and to pay therefore the purchase price without deduction, in which case the SELLER shall convey such title, except that in the event of such conveyance in accord with the provisions of this clause, if the said premises shall have been damaged by fire or casualty insured against, then the SELLER shall, unless the SELLER has previously restored the premises to their former condition, either
(a) pay over or assign to the BUYER, on delivery of the deed, all amounts recovered or recoverable on account of such insurance, less any amounts reasonably expended by the SELLER for any partial restoration, or
(b) if a holder of a mortgage on said premises shall not permit the insurance proceeds or a part thereof to be used to restore the said premises to their former condition or to be so paid over or assigned, give to the BUYER a credit against the purchase price, on delivery of the deed, equal to said amounts so recovered or recoverable and retained by the holder of the said mortgage less any amounts reasonably expended by the SELLER for any partial restoration. The acceptance and recording of a deed by the BUYER or his nominee as the case may be, shall be deemed to be a full performance and discharge of every agreement and obligation herein contained or expressed, except such as are, by the terms hereof, to be performed after the delivery of said deed. To enable the SELLER to make conveyance as herein provided, the SELLER may, at the time of delivery of the deed, use the purchase money or any portion thereof to clear the title of any or all encumbrances or interests, provided that all instruments so procured are recorded simultaneously with the delivery of said deed.
