ALTA Extended Coverage Title Policy definition

ALTA Extended Coverage Title Policy. Alternatively, if Purchaser has not timely delivered to the Title Company an Updated ALTA Survey, the Title Company shall be irrevocably committed to issue to Purchaser an CLTA Policy of Title Insurance, including such standard exceptions as the Title Company may be unwilling to remove without the receipt of the Updated ALTA Survey, in the amount of the Purchase Price insuring fee title to the Land is vested in Purchaser subject only to the Permitted Exceptions (the “CLTA Title Policy”). As used herein, the term “Title Policy” shall mean and refer to either the CLTA Title Policy or the ALTA Extended Coverage Title Policy, as the case may be. Any Updated ALTA Survey required by the Title Company for the issuance of the ALTA Extended Coverage Title Policy shall be prepared and delivered at Purchaser’s sole cost and expense and, notwithstanding anything to the contrary contained herein, the scheduled Closing Date shall not be extended to allow Purchaser to obtain an Updated ALTA Survey or any updated title report(s) based thereon (except pursuant to the exercise of Purchaser’s Extension Right, subject to, and in accordance with, the requirements to exercise such Purchaser’s Extension Right). As used in this Agreement, the term “Permitted Exceptions” shall mean (a) all matters set forth in the Title Documents and any updated title report(s) (including New Title Exceptions) which Purchaser approves pursuant to Section 3.1 above (other than any Seller Monetary Liens which Seller is obligated to remove or cause to be removed pursuant to Section 3.1.1 above); (b) non-delinquent Property Taxes (including non-delinquent community facilities district, business improvement district or local improvement district assessments); (c) the lien of supplemental taxes assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code relating to the period from and after the Close of Escrow, if any, including supplemental assessments resulting from the transfer of the Property to Purchaser; (d) all zoning restrictions, regulations and requirements, all building codes and all other applicable laws, ordinances and governmental regulations affecting the Property, provided Purchaser shall be entitled to review and approve the same pursuant to Section 3.3 above; (e) the Cabrillo CC&Rs; (f) the ▇▇▇▇▇▇ Agreement; (g) the Raytheon Access Agreement; (h) the Renco Access Agreement, (i) all matters which would be revealed or disclosed in an accurate s...
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Examples of ALTA Extended Coverage Title Policy in a sentence

  • Title Insurer shall issue the ALTA Extended Coverage Title Policy to Buyer.

  • Escrow Agent shall direct Title Insurer to issue the ALTA Extended Coverage Title Policy to Buyer.

  • In addition to the foregoing, Title Insurer shall have agreed to insure the easements appurtenant to the Real Property pursuant to the Condominium Documents in the ALTA Extended Coverage Title Policy.

  • As used herein, the term “Title Policy” shall mean and refer to either the CLTA Title Policy or the ALTA Extended Coverage Title Policy, as the case may be.

  • Buyer may elect to acquire an ALTA Extended Coverage Title Policy, but the additional cost of extended coverage shall be Buyer's separate cost.

  • Buyer may, at its option, direct Escrow Holder to procure an ALTA Extended Coverage Title Policy from Title Insurer, with liability in the amount of the Purchase Price.

  • Title Insurer shall issue the ALTA Extended Coverage Title Policy to Company.