Title Insurance and Surveys. (a) Within ten (10) business days after the date of this Agreement, the Acquired Entities and the Shareholder shall deliver copies of previous owner policies or other title evidence sufficient to obtain commitments (the "Commitments") to be issued by Shareholder's counsel as agent for Attorneys' Title Insurance Fund (the "Title Company") for the issuance of an ALTA Owners Policy of Title Insurance (10-17-92) (with Florida Modifications, the "Title Policy") for each of the Owned Properties (and such of the Leased Properties as Republic may designate) in an amount not to exceed the fair market value of the Owned Properties. The premium for the Title Policy shall be paid by the Shareholder. The Title Policy shall show fee simple title to the Owned Properties vested now or to be vested at or immediately prior to the Closing in the Acquired Entities subject only to current real estate Taxes not yet due and payable as of the Effective Time, and such other covenants, conditions, easements, and exceptions to title as Republic may approve in writing (collectively, the "Permitted Exceptions"). The Permitted Exceptions shall include, but shall not be limited to, mortgages or instruments securing any of the Designated Liabilities, and such of the following matters as do not affect the current use of the Owned Properties: (i) zoning restrictions imposed by Governmental Authority (so long as there exists no violation of any such restrictions by the use of or improvements on the Owned Properties), (ii) restrictions and matters appearing on the Plat or otherwise common to the subdivision, and (iii) utility easements that are not subject to any encroachment by existing improvements on the Owned Properties (other than perimeter walls and fences). The Commitments and the Title Policy to be issued by the Title Company shall have all Standard and General Exceptions deleted so as to afford full "extended form coverage" and shall contain contiguity (where appropriate), survey, and such other endorsements as may be reasonably requested by Republic, excluding nonimputation and creditors rights endorsements. At the Closing, the Acquired Entities, the Shareholder and their Affiliates shall deliver such affidavits or other instruments as the Title Company may reasonably require to delete Standard and General Exceptions and to provide the special endorsements required hereunder. The Acquired Entities and the Shareholder shall cause the Commitments to be later-dated to cover the Closin...
Title Insurance and Surveys. Due to the critical timeline requirements to close the transaction, PHI may order title searches on all NPC Owned Real Property and NPC Leased Real Property to be transferred to PH pursuant to this Agreement. These title searches will be performed by a national title company approved by PHI. If permissible under applicable law and the terms of any agreement with such company, the fees paid for the searches may be applied toward the title policy costs for title policies desired by PH based upon these title searches. In the event PH or PHI requires environmental reports relating to the NPC Owned Real Property, PH shall first obtain NPC’s prior written consent and shall execute the Access and Confidentiality Agreement substantially in the form attached as Exhibit “E”. NPC will not consent to any invasive environmental audit or review and the results of any permitted environmental audit or review will not affect PH’s obligations hereunder. To the extent that PH requires surveys of the NPC Owned Real Property, PH shall retain a nationally recognized firm to perform such work. The consultants referenced in this Section 2.7 will be retained solely by PH, but NPC shall have the right to obtain copies of any documents or reports that they prepare. As provided for in Sections 5 and 10.9, PH shall reimburse NPC at Closing for all actual or estimated costs incurred by PH related to these items, subject to any post-closing adjustments pursuant to Section 10.1 of this Agreement. Notwithstanding the foregoing however, PH will not be responsible for the payment or reimbursement of any costs relating to title insurance, surveys and/or environmental reports on any of the subject real estate unless such service is specifically requested by PH, and request is given forty-five (45) days prior to the Closing.
Title Insurance and Surveys. Seller shall use its commercially reasonable efforts to assist Buyer and the Sale Leaseback Purchaser in obtaining the Title Policies in form and substance as set forth in Section 2.08(d) of this Agreement, including, without limitation, removing from title any liens or encumbrances which are not Permitted Liens. Seller shall provide the Title Company with any affidavit, indemnity or other assurances reasonable and customarily requested by the Title Company to issue the Title Policies.
Title Insurance and Surveys. (a) Title Insurance on Fee Property. With respect to each parcel of Real Property that Seller owns, Seller will obtain and deliver to Buyer, at Seller's expense, at or prior to Closing, an ALTA Owner's Policy of Title Insurance Form B-1987 (or equivalent policy acceptable to Buyer), issued by a title insurer satisfactory to Buyer, in an amount equal to the fair market value of the property and any improvements thereon (as reasonably determined by Buyer), insuring title to such parcel to be in the name of Buyer as of the Closing, subject only to liens or encumbrances expressly permitted by this Agreement.
Title Insurance and Surveys. (a) With respect to each parcel of Real Property owned by the Company, the Shareholders and the Company shall use their reasonable efforts to assist CCC in obtaining (i) as soon as practicable after the date of this Agreement, a title commitment disclosing the condition of title to such fee estate and all easements, rights of way, and restrictions of record with respect thereto, as of a date not earlier than the date of this Agreement, accompanied by copies of all instruments evidencing the scope and extent of all such easements, rights of way, and restrictions of record (the "Title Commitment"), ---------------- and (ii) at or prior to Closing, an ALTA Owner's Policy of Title Insurance on a form customarily used in the state in which the Real Property is located, issued by a title insurer satisfactory to CCC, in an amount equal to the fair market value of the Real Property (as reasonably determined by CCC), insuring title to such property to be in the name of the party designated by CCC on SCHEDULE 7.3, subject only to Permitted Encumbrances (each a "Title Policy"). ------------
Title Insurance and Surveys. Seller shall deliver to Buyer prior to the Closing Date copies of its most recent owner's closing title insurance binder or abstract and surveys on each parcel of Real Estate, or such other evidence of title reasonably acceptable to Buyer. Seller will also provide to Buyer updated title reports, abstracts or surveys on such Real Estate at the Closing, as Buyer shall reasonably request. Sobieski (not Seller) shall pay the costs of any such updated reports, abstracts or surveys.
Title Insurance and Surveys. Buyer will obtain with respect to each --------------------------- parcel of Real Property described in Schedule 6.13 which is used as the WKJS Transmitter Site and WSOJ Transmitter Site (i) within forty-five (45) days of the date of the execution of this Agreement, an owner's policy by a title insurer reasonably satisfactory to Seller, in an amount equal to the fair market value of such Real Property (including all improvements located thereon), insuring Buyer's fee simple title to such Real Property as of the Closing without defects in title, together with such endorsements for zoning, continuity, public access and extended coverage as Buyer or its lender may reasonably request and (ii) a current survey of each parcel of Real Property certified to Buyer and its lender, prepared by a licensed surveyor and conforming to current ALTA Minimum Detail Requirements for Land Title Surveys, disclosing the location of all improvements, easements, party walls, sidewalks, roadways, utility lines, and other matters shown customarily on such surveys, and showing access affirmatively to public streets and roads ("Survey") which shall not disclose any survey defect or encroachment from or onto any of the Real Property which has not been cured or insured over prior to the Closing. Buyer shall pay the cost of such title policies and Survey.
Title Insurance and Surveys. The Buyers will have received (i) with respect to each parcel of Real Estate subject to the Leases, a leasehold owner's policy issued by a title insurer reasonably satisfactory to the Buyers, in an amount equal to the fair market value of such Real Estate (including all improvements located thereon), insuring over the standard pre-printed exceptions and insuring leasehold title to such Real Estate in the Buyers as of the Closing subject only to the Permitted Real Estate Encumbrances, together with such endorsements for zoning, contiguity, public access and extended coverage as the Buyers or its lender reasonably requests, (ii) with respect to each parcel of Owned Real Estate, an owner's policy of title insurance by a title insurer reasonably satisfactory to the Buyers, in an amount equal to the fair market value of such Real Estate (including all improvements located thereon), insuring over the standard pre-printed exceptions and insuring title to the Owned Real Estate to be vested in the Buyers as of the Closing free and clear of all liens and encumbrances except Permitted Real Estate Encumbrances, together with such endorsements for zoning, contiguity, public access and extended coverage as the Buyers or its lender reasonably requests, and (iii) a current survey of each parcel of Real Estate certified to the Buyers and its lender, prepared by a licensed surveyor and conforming to current ALTA Minimum Detail Requirements for Land Title Surveys, disclosing the location of all improvements, easements, party walls, sidewalks, roadways, utility lines, and other matters shown customarily on such surveys, and showing access affirmatively to public streets and roads (the "Surveys") which shall not disclose any survey defect or encroachment from or onto any of the Real Estate which has not been cured or insured over prior to the Closing. The Buyers and the Seller will each pay one-half (1/2) of the costs of these title policies and Surveys, provided that Seller's responsibility for such costs shall not exceed Five Thousand Dollars ($5,000).
Title Insurance and Surveys. Within thirty (30) after the execution of this Agreement, at Buyer's option, Buyer may obtain at Buyer's expense: (a) a commitment for an ALTA title insurance policy related to the Real Property reasonably acceptable to Buyer (the "Title"); or (b) a staked-on-ground boundary survey of the Real Property reasonably acceptable to Buyer, certified current as of the date of delivery thereof, prepared by a duly licensed and registered land surveyor acceptable to Buyer (the "Survey"). The Title and the Survey will be ordered by the Buyer, and shall in all respects be reasonably acceptable to Buyer. Buyer agrees to notify Seller of any objection to the status of the Title and/or Survey within ten (10) business days after Buyer's receipt of the Title and Survey. In the event that the Title and/or Survey are reasonably unsatisfactory to Buyer and Buyer has timely objected thereto, Seller shall have sixty (60) calendar days from Seller's receipt of notice to eliminate such condition or matter. If the condition or matter is not eliminated by Seller within the prescribed 60 day period, Buyer may terminate this Agreement, without any further liability hereunder.
Title Insurance and Surveys. The title insurance and surveys described in Section 6.9;
