Evidence of Title Clause Samples

Evidence of Title. Seller shall deliver to Buyer a commitment to issue 32 an Owner’s Policy of Title Insurance issued by ▇▇▇▇▇▇▇ Abstract Company, 115 S. ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, in the amount of purchase price, naming Buyer as 34 the insured, written by a title insurance company licensed in Missouri under the 35 provisions of Chapter 381 of the Revised Statutes of the State of Missouri, which policy 36 shall insure the owner’s title to be in the condition called for by this contract and which 37 commitment shall provide that said policy shall be issued forthwith after the Seller’s deed 38 shall be placed of record. After delivery of said title insurance commitment, Buyer shall 39 have 10 days to examine said title insurance commitment and notify Seller in writing of 40 any objections thereto. If there be any objections, Seller shall, within a reasonable time, 41 furnish to Buyer a new or amended title insurance commitment satisfying any such 42 objections, but if such commitment shall not be furnished within 15 days after said notice, 43 then Buyer, at Buyer’s election, may void this contract by written notice to the Seller prior 44 to the furnishings of such commitment, in which case all down-payment paid by the 45 Buyer shall be returned to the Buyer by the Seller. If the title defects are not corrected, or 46 if the failure to furnish said title commitment is due to the fact that the title defects cannot 47 be corrected to the satisfaction of either the Buyer or the Buyer’s examining attorney, then 48 this contract shall be void and the down payment shall be returned to Buyer, unless Buyer 49 gives notice to Seller in writing of Buyer’s election to waive such defects. 50

Evidence of Title. At the Closing, title to the Developer Parcel shall be marketable and insurable at standard rates by the Title Company pursuant to a full coverage owner 's title insurance policy on the most recent ALTA form then in effect issued by the Title Company (the "Title Policy") showing title to be free and clear of all liens except any existing special assessments, easements, agreements, rights-of-way, restriction and adverse claims as are acceptable to Developer in its sole discretion (the "Permitted Exceptions''). Any existing special assessments ( for future installments) on the City Parcel shall be prorated between the Developer Parcel and City Parcel with each party being responsible for its share of annual installments. Developer will at Developer's sole expense, obtain from the Title Company, within 30 days of the Effective Date, a commitment for a fee owner's title insurance policy (the "Commitment"). Developer shall notify City in writing ("Objection Notice") , not later than thirty (30) days of Developer's receipt of the Commitment (the "Objection Period"), of any title matters regarding the Developer Parcel set forth in the Commitment not acceptable to Developer ("Developer Parcel Defects"). If Developer fails to notify City in writing on or prior to the last day of the Objection Period, which in any event shall not be more than 60 days from the Effective Date, Developer waives it right to object and terminate the Agreement as result of Developer Parcel Defects. City shall, upon receipt of an Objection Notice, have the option of: (i) remedying or removing some or all of the Developer Parcel Defects prior to the Closing to Developer's satisfaction, provided that City shall be required to remedy or remove all mortgages, liens and encumbrances that may be removed or discharged by the payment of money ("Monetary Liens"); or (ii) leaving some or all of the Developer Parcel Defects as is. Within twenty (20) business days after the receipt of an Objection Notice, City shall give Developer written notice of its election of the foregoing options. If City fails to give such notice, the City shall be deemed to have agreed to remedy and/or remove all such Developer Parcel Defects. If City gives notice within such 20 business day period that it is unwilling or unable to remedy or remove one or more of the Developer Parcel Defects, then Developer shall have the option for a 20 day period after receipt of City's notice to give its written notice to the City to either...

Evidence of Title. Not less than fourteen (14) days prior to closing, Seller will furnish Buyer with written commitment from a title insurance company duly authorized to do business in Illinois, showing title to said premises subject only to matters to which this sale is subject by the terms hereof and to the customary exceptions contained in owners policies issued by such company. If written commitment discloses defects in title other than matters to which this sale is subject by the terms hereof and the customary exceptions in such policies, then Seller shall have until date for delivery of deed to correct such defects. Owners title policy, in amount of the purchase price for said premises, will be paid for by the Seller and issued to Buyer after delivery of deed.

Evidence of Title. ▇▇▇▇▇▇ agrees to furnish buyer, at Seller’s expense, unless the parties agree in writing to a different 263 arrangement, a current commitment and an owner’s title insurance policy in an amount equal to the Purchase Price as specified in 264 the Sale contract, or if this box is checked, An Abstract of Title certified to a current date.

Evidence of Title. Not less than ten (10) days prior to closing, Lessee shall obtain a commitment for an TLTA owner's policy of title insurance dated within thirty (30) days of the closing date, issued by a nationally recognized title insurance company selected by Lessor (the "Title Company") in the amount of the Purchase Price determined pursuant to subparagraph (C)(i) above, naming Lessee as the proposed insured, and covering the fee simple title to the Leased Premises, and showing Lessor vested with good title to the Leased Premises subject only to the matters affecting title which were of record at the time Lessor came into title to the Leased Premises and those matters which Lessee created, suffered or permitted to accrue during the term hereof. Such title commitment shall be conclusive evidence of good title.

Evidence of Title. Not less than ten (10) days prior to closing, Selling Lessor shall obtain a commitment for an ALTA owner's policy of title insurance dated within thirty (30) days of the closing date, issued by a nationally recognized title insurance company selected by Selling Lessor (the "Title Company") in the amount of the Purchase Price determined pursuant to subparagraph (C)(i) above, naming Lessee as the proposed insured, and covering the fee simple title to the Leased Premises, and showing Selling Lessor vested with good title to portion of the Leased Premises being sold, subject only to the matters affecting title which were of record at the time Selling Lessor came into title to the Leased Premises and those matters which Lessee created, suffered or permitted to accrue during the term hereof. Such title commitment shall be conclusive evidence of good title. If Lessee shall make objection to the marketability of title, Selling Lessor shall have no obligation to make title marketable, but may withdraw Lessor's notice of intent to market the Premises.

Evidence of Title. In the event that Buyer does not order and receive a commitment for title insurance, Seller shall, at its expense, within ten (10) days after written request from Buyer, furnish to Buyer a copy of the documents by which the State obtained or otherwise holds title or a letter from the State Land Office describing the documents by which the State obtained and otherwise holds title. Seller will cooperate with the Buyer or its title company in clarifying or resolving any perceived deficiencies or clouds in the title, but shall not be required to incur any expense beyond commitment of the time of the State Land Office. If such issues cannot be resolved to Buyer’s satisfaction, Buyer may terminate this Agreement, and the ▇▇▇▇▇▇▇ Money, if any, shall be returned.

Evidence of Title. Within a reasonable period after execution of this Contract and before closing, Seller shall provide Buyer an updated commitment to issue an ALTA title insurance policy in the amount of the purchase price, by Chicago Title (“Title Company”). Permissible exceptions to title shall be all matters and exceptions set forth on that certain commitment for title insurance with an effective date of TBD and issued by the Title Company. If Buyer or ▇▇▇▇▇’s lender requires title evidence of a type other than that which Seller chose to provide, then the additional cost, if any, occasioned by the title evidence required shall be at Buyer’s expense and no additional cost shall be chargeable to Seller.

Evidence of Title. Prior to closing, Seller will furnish Buyer with written commitment from a title insurance company duly authorized to do business in Illinois, showing title to said premises subject only to matters to which this sale is subject by the terms hereof and to the customary exceptions contained in owners policies issued by such company. If written commitment discloses defects in title other than matters to which this sale is subject by the terms hereof and the customary exceptions in such policies, then Seller shall have until date for delivery of deed to correct such defects. Owner’s title policy, in amount of the purchase price for said premises, will be paid for by the Seller and issued to Buyer after delivery of deed.