Common use of Condition of Title Clause in Contracts

Condition of Title. It shall be a condition to the Close of ------------------ Escrow for Buyer's benefit (which Buyer may waive in its sole and absolute discretion) that title to the Real Property be conveyed to Buyer by Seller by the Grant Deed subject only to the following approved condition of title ("Approved Condition of Title"): (a) a lien to secure payment of real estate taxes and assessments, not delinquent; (b) the lien of supplemental taxes assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code ("Code") (but not any delinquent supplement taxes); (c) matters affecting the Real Property created by or with the written consent of Buyer; and (d) exceptions which are disclosed by the Title Report described in Paragraph 7(a)(i) hereof and which are approved or deemed approved by Buyer in accordance with such Paragraph 7(a)(i). Seller covenants that, during the term of the Escrow, it will not intentionally cause title to the Real Property to differ from the Approved Condition of Title described in this Paragraph 5, provided that Seller shall have no obligation to remove any liens or other encumbrances affecting title to the Property except for liens evidencing monetary encumbrances (other than nondelinquent real property taxes and assessments which Seller shall cause to be removed as of the Close of Escrow). Any liens, encumbrances, encroachments, easements, restrictions, conditions, covenants, rights, rights-of-way or other matters affecting the Approved Condition of Title which may appear of record or be revealed after the date of the Title Report described in Paragraph 7(a)(i) below shall also be subject to Buyer's approval as a condition to the Close of Escrow for Buyer's benefit.

Condition of Title. It shall be a condition to the Close of ------------------ Escrow for ------------------ Buyer's benefit (which Buyer may waive in its sole and absolute discretion) that title to the Real Property be conveyed to Buyer by Seller the ▇▇▇▇▇▇ Entities and the Partnerships by the Grant Deed subject only to the following approved condition of title ("Approved Condition of Title"): (a) a lien to secure payment of real estate taxes and assessments, not delinquent; (b) the lien of supplemental taxes assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code ("Code") (but not any delinquent supplement supplemental taxes); (c) matters affecting the Real Property created by or with the written consent of Buyer; and (d) exceptions which are disclosed by the Title Report described in Paragraph 7(a)(i) hereof and which are approved or deemed approved by Buyer in accordance with such Paragraph 7(a)(i). Seller covenants The Sellers covenant that, during the term of the Escrow, it they will not intentionally cause title to the Real Property to differ from the Approved Condition of Title described in this Paragraph 5, provided that Seller the Sellers shall have no obligation to remove any liens or other encumbrances affecting title to the Property except for liens evidencing monetary encumbrances (other than nondelinquent real property taxes and assessments assessments) which Seller the Sellers shall cause to be removed as of the Close of Escrow). Any liens, encumbrances, encroachments, easements, restrictions, conditions, covenants, rights, rights-rights- of-way or other matters affecting the Approved Condition of Title which may appear of record or be revealed after the date of the Title Report described in Paragraph 7(a)(i) below shall also be subject to Buyer's approval as a condition to the Close of Escrow for Buyer's benefit.

Condition of Title. It shall be a condition to the Close of ------------------ Escrow for Buyer's ’s benefit that, subject to Buyer’s right to approve title as set forth in Section 5 (which Buyer may waive in its sole and absolute discretiona), (i) that title to the Real Property Illinois Properties shall be conveyed to Buyer by Seller a special warranty deed for each Property (the “Illinois Properties Deeds”), the form of which is attached hereto as Exhibit “B-1”, (ii) title to the Texas Properties shall be conveyed to Buyer by a special warranty deed for each Property (the Grant Deed “Texas Properties Deeds”), the form of which is attached hereto as Exhibit “B-2”; and (iii) title to the California Properties shall be conveyed to Buyer by a grant deed for each Property (or Properties if under common ownership) (the “California Properties Deeds”), the form of which is attached hereto as “Exhibit B-3”, with the aforementioned conveyances being subject only to the following approved condition of title ("Approved “Condition of Title"”): (ai) a lien to secure payment of general and special real estate property taxes and assessments, not delinquent; (bii) with respect to the California Properties only, the lien of supplemental taxes arising from this transaction assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code ("Code") (but not any delinquent supplement taxes); (ciii) matters affecting the Real Property Condition of Title created by or with the written consent of Buyer, including, without limitation, any mechanics liens or other encumbrances caused by or related to Buyer’s construction activities which occur prior to the Close of Escrow; and (div) all exceptions which are disclosed by the Title Report “Reports” described in Paragraph 7(a)(i) hereof Section 5 below and which are approved or deemed have been approved by Buyer in accordance with such Paragraph 7(a)(i)Buyer, as provided therein. Seller covenants that, during the term of the Escrow, it will not intentionally cause title As a condition to the Real Property to differ from the Approved Condition of Title described in this Paragraph 5, provided that Seller shall have no Buyer’s obligation to remove any liens or other encumbrances affecting title proceed to the Property except for liens evidencing monetary encumbrances (other than nondelinquent real property taxes and assessments which Seller shall cause to be removed as of the Close of Escrow). Any liens, encumbrancesEscrow Holder in its capacity as title insurer (“Title Company”) shall issue or irrevocably commit to issue, encroachments, easements, restrictions, conditions, covenants, rights, rights-of-way or other matters affecting the Approved Condition of Title which may appear of record or be revealed after the date of the Title Report described in Paragraph 7(a)(i) below shall also be subject to Buyer's approval as a condition to on the Close of Escrow Escrow, its ALTA Extended Coverage Owner’s Form Policy of Title Insurance for each Property (or T-1 Policy with respect to the Texas Properties) (individually, a “Title Policy” and collectively, the “Title Policies”) in the allocated amount of the Purchase Price showing title to the Properties vested in Buyer's benefit, subject only to the Condition of Title, for each Property; provided that if Buyer fails to provide the requisite Surveys to the Title Company to allow the issuance of the ALTA Extended Coverage Owner’s Form of Policy of Title Insurance, then such condition shall be satisfied by the issuance of a standard coverage owner’s policy (it being agreed, however, that the foregoing shall in no event operate to excuse Seller from providing any customary owner’s affidavits to the Title Company).

Condition of Title. It shall be a condition to the Close of ------------------ Escrow for Buyer's ’s benefit (which Buyer may waive in its sole and absolute discretion) that title to the Real Property be conveyed to Buyer by Seller by the Grant Deed subject only to the following approved condition of title ("Approved “Condition of Title"”): (a) a lien to secure payment of general and special real estate property taxes and assessmentsassessments for the current tax year in which the Close of Escrow occurs, a lien not delinquentyet due and payable; (b) the lien of supplemental taxes arising from this transaction assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code ("Code") (but not any delinquent supplement taxes); (c) matters affecting the Real Property created by Buyer or with the prior written consent of Buyer, including, without limitation, any mechanics liens or other encumbrances caused by or arising from Buyer’s activities at or upon the Real Property, if any, which occur prior to the Close of Escrow; and (d) exceptions which are disclosed by the Title Report described in Permitted Exceptions, pursuant to Paragraph 7(a)(i) hereof and which are approved 4.2 below. On or deemed approved by Buyer in accordance with such Paragraph 7(a)(i). Seller covenants that, during before the term expiration of the EscrowContingency Period Buyer shall obtain, it will not intentionally cause title to at Buyer’s sole cost, an ALTA, as-built survey of the Real Property containing a certification reasonably acceptable to differ from Buyer (the Approved Condition “Survey”). At the Closing, the satisfaction of Buyer’s Title condition shall be evidenced by the willingness of Escrow Holder, in its capacity as Title Insurer (the “Title Company”) to issue its ALTA Extended Coverage Owner’s Form Policy of Title described Insurance (“Title Policy”) in this Paragraph 5, provided that Seller shall have no obligation to remove any liens or other encumbrances affecting the amount of the Purchase Price showing title to the Property except for liens evidencing monetary encumbrances (other than nondelinquent real property taxes and assessments which Seller shall cause vested in Buyer subject only to be removed as of the Close of Escrow). Any liens, encumbrances, encroachments, easements, restrictions, conditions, covenants, rights, rights-of-way or other matters affecting the Approved Condition of Title which may appear of record or be revealed after the date of the Title Report described in Paragraph 7(a)(i) below shall also be subject to Buyer's approval as a condition to the Close of Escrow for Buyer's benefitTitle.

Condition of Title. It shall be a condition to the Close of ------------------ Escrow for Buyer's benefit (which Buyer may waive in its sole and absolute discretion) that If Tenant gives an Acceptance Notice, title to the Real Property real property interests being offered in the Purchase Offer Notice Premises shall be conveyed from Landlord to Buyer Tenant by Seller by grant deed (the Grant Deed subject only “Deed”), in a form reasonably satisfactory to the following approved condition of title parties, subject to: ("Approved Condition of Title"): (ai) a lien to secure payment of real estate taxes and assessmentsassessments not yet due and payable; (ii) this Lease; and (iii) any exceptions, not delinquent; (b) the lien reservations, easements or encumbrances of supplemental taxes assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code ("Code") (but not any delinquent supplement taxes); (c) matters affecting the Real Property created by or with the written consent of Buyer; and (d) exceptions which are disclosed by the Title Report described in Paragraph 7(a)(i) hereof and record which are approved or deemed approved by Buyer Tenant in accordance with such Paragraph 7(a)(i)the Purchase Agreement. Seller covenants that, during the term of the Escrow, it will not intentionally cause title Notwithstanding anything to the Real Property to differ from the Approved Condition of Title described contrary contained herein, in this Paragraph 5, provided that Seller no event shall Landlord have no any obligation to remove any title exceptions disapproved by Tenant other than “Mandatory Cure Items”, defined herein as (a) liens or other encumbrances affecting title the interests being offered in the Purchase Offer Notice which secure an obligation to pay money (including any financing obtained by Landlord, any taxes or assessments due prior to the Property except for liens evidencing monetary encumbrances (other than nondelinquent real property taxes and assessments which Seller shall cause to be removed as closing of the Close of Escrowsale and any mechanic’s or judgment liens). Any liens, encumbrances, encroachments, easements, restrictions, conditions, covenants, rights, rights-of-way ; and (b) any exceptions to title and survey created by Landlord on or other matters affecting the Approved Condition of Title which may appear of record or be revealed after the date of the Title Report Purchase Agreement without the prior written consent of Tenant. Landlord shall be obligated to remove any title exceptions that are Mandatory Cure Items. In the event Tenant disapproves, and Landlord does not elect to remove, any title matters other than those described in Paragraph 7(a)(iclauses (a) below and (b) of the preceding sentence, Tenant shall also be either (x) waive its disapproval and accept title to the Project subject to Buyer's approval as a condition the disapproved items without any adjustment to the Close purchase price, or (y) terminate the Purchase Agreement and receive a return of Escrow for Buyer's benefitthe Initial Deposit.

Condition of Title. It shall be a condition to the Close of ------------------ Escrow for Buyer's benefit (which Buyer may waive in its sole and absolute discretion) that title to the Real Property be conveyed to Buyer by Seller by the Grant Deed subject only to the following approved condition of title ("Approved Condition of Title"): (a) a lien to secure payment of real estate taxes and assessmentstaxes, not delinquent; (b) the lien of supplemental taxes assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code ("Code"), but only to the extent that such supplemental taxes are attributable to the transaction contemplated by this Agreement. Seller shall be responsible for, and shall indemnify, protect, defend (with counsel chosen by Buyer) (but not and hold harmless Buyer and the Real Property from and against any delinquent supplement taxes)and all supplemental taxes assessed pursuant to the Code, to the extent that such taxes are attributable to any period occurring prior to the Close of Escrow; (c) matters affecting the Real Property created by or with the written consent of Buyer; and (d) exceptions which are disclosed by the Title Report described in Paragraph 7(a)(i) hereof and which are approved or deemed approved by Buyer in accordance with such Paragraph 7(a)(i). Seller covenants that, and agrees that during the term of the Escrow, it will not intentionally cause or permit title to the Real Property to differ from the Approved Condition of Title described in this Paragraph 5, provided that Seller shall have no obligation to remove any liens or other encumbrances affecting title to the Property except for liens evidencing monetary encumbrances (other than nondelinquent real property taxes and assessments which Seller shall cause to be removed as of the Close of Escrow). Any liens, encumbrances, encroachments, easements, restrictions, conditions, covenants, rights, rights-of-way or other matters affecting the Approved Condition of Title which may appear of record or be revealed after the date of the Title Report described in Paragraph 7(a)(i) below shall also be subject to Buyer's approval and must be eliminated or ameliorated by Seller to Buyer's sole, absolute and subjective satisfaction prior to the Close of Escrow as a condition to the Close of Escrow for Buyer's benefit.