Owner Title Policy definition

Owner Title Policy means an ALTA 1992 Form owner's policy of Title Insurance issued by the Title Company to Purchaser, in a face amount equal to the Total Purchase Price and subject to no exceptions other than the standard printed exceptions described in Schedule B of the Title Commitment and all other Permitted Exceptions.

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Owner Title Policy has the meaning set forth in Section 2.03(g) of the Participation Agreement.

Owner Title Policy has the meaning ascribed to such term in Section 6.3.

Examples of Owner Title Policy in a sentence

• Optionee shall also be obligated to pay the cost of the Owner Title Policy, except to the extent the cost of such policy is attributed to endorsements requested by Owner.

• Owner shall pay that portion of the cost of the Owner Title Policy attributed to endorsements requested by Owner.

• The Seller shall pay for the cost of the Title Commitment and for the premium for the basic Owner Title Policy.

• Further, Purchaser shall deliver to Title Insurer such evidence of Purchaser’s organization, power and authority as Title Insurer may reasonably request, together with such other documents as Title Insurer may reasonably require to issue the Owner Title Policy or to consummate the transactions contemplated under this Agreement or the documents to be executed and delivered by Purchaser at Closing.

• Section 4.2. At Closing, the Title Company shall issue to Purchaser the Owner Title Policy for the Land as specified in the Commitment, with such endorsements as the Parties may direct, dated no earlier than the date of the filing of the Deed described in Section 9.1.1 hereof, insuring Purchaser's title to the Land in the amount of the Owner Title Policy Amount, subject to the Permitted Exceptions (hereinafter defined).

• Buyer understands that the Owner Title Policy will contain the exceptions set forth in Schedule B of the Commitment for Title Insurance, together with any additional exceptions to title resulting from the final downdate search of the public records and from the documents involved in this transaction and any additional exceptions for items shown on Schedule C of the Commitment for Title Insurance which have not been resolved.

• Seller shall pay the premium for the Owner Title Policy (excluding endorsements) described under Paragraph 8 above, the documentary stamps, transfer taxes, and the like which may be assessed in connection with the recordation of the Deed, as well as the recording fees to record the Deed, and one-half of any escrow fee charged by the Escrow Holder.

• Buyer understands that no survey of the Property has been provided in connection with this transaction and that the Owner Title Policy to be issued to Buyer will not provide title insurance coverage against encroachments and/or protrusions of improvements, boundary conflicts, or other matters that would be found by a current survey.

• Purchaser may, at its expense, cause the Title Company to delete the “survey exception” from the Owner Title Policy without qualification or condition, except as to “any shortages in area.” 9.

• The premium for issuing the Owner Title Policy, the cost of insuring over any Title Exceptions, as set forth in this Agreement, and the escrow fees of the Title Company shall be borne by Seller.

More Definitions of Owner Title Policy

Owner Title Policy can be found in Paragraph 5.2(e). "Permitted Exceptions" can be found in Paragraph 2.1(b). "Personal Property" can be found in Paragraph 1.1(d). "Property" or "Properties" can be found in Paragraph 1.1(f). "Purchase Price" can be found in Paragraph 1.2. "RCRA" can be found in Paragraph 3.1(j)(viii). "Real Property" can be found in Paragraph 1.1(f). "Rent Roll" can be found in Paragraph 2.2(c). "Returns" can be found in Paragraph 3.1(h). "Seller" can be found on page 1. "Seller's Affiliate" can be found in Paragraph 3.7(a). "Seller's Title Indemnity" can be found in Paragraph 2.1(b). "Subleases" can be found in Paragraph 5.3(b). "Tenant Deposits" can be found in Paragraph 1.1(f). "Tenant Notices" can be found in Paragraph 5.2(f). "Title Commitment" can be found in Paragraph 2.1(a). "Title Company" can be found in Paragraph 1.3. "Title Exceptions" can be found in Paragraph 2.1(b).