ALTA Title Policy definition

ALTA Title Policy means the owner's title insurance policy in an amount not to exceed the Purchase Price issued by the Title Insurer in the condition required and approved by Buyer in the Final Pro Forma Title Policy, prepared in accordance with all standards and industry practice, and without any exceptions, including any of the standard title policy exceptions, other than the Permitted Encumbrances, together with affirmative insurance for the Access Roads, Crossing Agreements and Drain Agreements benefitting the Project.
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ALTA Title Policy is defined in Section 9.
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ALTA Title Policy means with respect to a Country Club Property an ALTA policy of title insurance (1970 Form), in states where available, and otherwise an extended coverage policy of title insurance, and in each case (i) issued by the Title Company, (ii) with no exception for creditor's rights (unless the deletion of such exception for creditor's rights is prohibited by the law of the state in which such title policy is being issued), (iii) naming Lender as insured, (iv) in the Title Insurance Amount, and (iv) showing the Mortgage on such Country Club Property as an encumbrance thereon subject only to Permitted Encumbrances, and the balance of the policy reflecting a state of title satisfactory to Lender in its reasonable discretion.
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Examples of ALTA Title Policy in a sentence

  • Please note special requirements for 504 projects: the ALTA Title Policy is required where it is available.

  • However, if Seller do not have a survey, or if the survey is no sufficient to obtain an ALTA Title Policy or equivalent, then Buyer may obtain an ALTA survey or equivalent of the Property.

  • Seller shall pay: fees for preparation of the conveyance documentation; all documentary transfer taxes, other taxes and/or recording fees payable in connection with the transfer of the Property; Seller's attorneys' fees; the premium for the ALTA Title Policy; and other expenses stipulated to be paid by Seller under other provisions of this Contract.

  • Purchaser shall pay one-half (1/2) of the escrow fees, one-half (1/2) of the applicable city transfer taxes, all costs associated with Purchaser's financing, all of the recording costs with respect to the Deed, and the entire portion ALTA Title Policy not required to be paid by Seller (including endorsements).

  • By executing this Agreement, Buyer hereby approves the Title Policy / ALTA Title Policy.

  • Buyers shall collectively pay (a) any additional premium for the ALTA Title Policy including mortgagee’s title insurance, survey costs and endorsements, (b) one-half (1/2) of all document recording charges, Escrow fees and costs, and (c) Buyers’ collective share of Closing Adjustments.

  • Holdings shall pay for any lender’s Title Policy or the cost of an ALTA Title Policy above the cost of a CLTA Title Policy.

  • Seller shall be responsible for paying the premium for the standard portion of the Title Policy, and Buyer shall be responsible for paying any costs associated with any extended ALTA Title Policy requested by or for the benefit of Buyer or any other endorsements.

  • Property One shall also pay the following costs and expenses: (i) one-half of the escrow fee, if any, which may be charged by the Title Company; (ii) recording fee costs (iii) the cost of an ALTA survey, if requested by Property One; and (iv) the additional cost to upgrade a CLTA Title Policy to an ALTA Title Policy.

  • At the Closing the Title Company -------------------------- shall be irrevocably committed to issue to Purchaser the ALTA Title Policy (hereafter defined), and to the Lender, the Lender's Title Policy (hereafter defined).

Related to ALTA Title Policy

  • Owner’s Title Policy means those certain ALTA extended coverage owner’s policies of title insurance issued in connection with the closing of the Mortgage Loan insuring the Mortgage Borrower as the owner of the Property.

  • Title Policy shall have the meaning set forth in Section 4.2.

  • Existing Title Policy means, the existing title insurance policy for the Property.

  • Title Policies has the meaning set forth in Section 6.17.

  • Title Insurance An American Land Title Association (ALTA) mortgage loan title policy form 1970, or other form of Title Insurance Policy acceptable to FNMA or FHLMC, including all riders and endorsements thereto, insuring that the Security Instrument constitutes a valid first lien on the related Mortgaged Property subject only to permitted encumbrances.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

  • ALTA means American Land Title Association, or any successor thereto.

  • Title Insurer means Chicago Title Insurance Company.

  • CLTA The California Land Title Association.

  • Title Commitment shall have the meaning set forth in Section 4.2.

  • Title Company means First American Title Insurance Company.

  • Title insurance agent means an agent licensed in the Commonwealth to sell, solicit, or negotiate

  • Title Insurance Company means the company that has or will issue the title policies with respect to a Leased Property, which company shall be reasonably acceptable to the Funding Parties.

  • Title Commitments has the meaning set forth in Section 3.5.

  • Mortgage Policies has the meaning specified in Section 6.13(b)(ii).

  • Title Report has the meaning set forth in Section 5.4(b).

  • Preliminary Title Report A report issued by a title insurance company in anticipation of issuing a Title Insurance policy which evidences existing liens and gives a preliminary opinion as to the absence of any encumbrance on title to a Mortgaged Property, except liens to be removed on or before purchase or refinance, as the case may be, by the Borrower and Permitted Encumbrances.

  • Mortgage Policy has the meaning specified in Section 4.01(a)(iv)(B).

  • Survey shall have the meaning set forth in Section 4.1.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Title V means Title V of the federal Act for the Senior Community Service Employment Program for Older Americans.

  • Permitted Exceptions shall have the meaning set forth in Section 4.3.

  • Closing Date Mortgaged Property as defined in Section 3.1(h).

  • Existing Survey means the existing ALTA survey of the Property.

  • Title Documents shall have the meaning set forth in Section 4.1.