Examination of Title Clause Samples
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Examination of Title. Prior to the Effective Date, Seller delivered to Purchaser its most recent title insurance commitment and/or policy covering the Real Property together with all surveys, subdivision plats and land development plans relating to the Real Property. Purchaser shall apply for a title insurance commitment (the “Commitment”) from the Title Agent or its agent for the issuance of the Owner’s Title Policy, upon recording of the Deed (as hereinafter defined). Purchaser may also obtain an update of Seller’s existing survey or new survey of the Real Property (the “Survey”). Said Commitment shall agree to insure the proposed title of Purchaser to the Real Property subject only to the Permitted Exceptions as P▇▇▇▇▇▇▇▇ has agreed in writing to accept. If title to the Real Property or the Survey contains title exceptions or discloses matters to which Purchaser objects (“Title Defects”), Purchaser shall notify Seller of such fact. Purchaser’s notice shall be given no later than ten (10) days from the date Purchaser receives the Commitment and the Survey (but in no event later than seven (7) days prior to the expiration of the Due Diligence Period), after which Seller shall notify Purchaser within five (5) Business Days of receipt of Purchaser’s notice whether Seller intends to cure the Title Defects, provided, however, Seller shall be obligated to cure and satisfy of record all mortgages, deeds of trust, liens, delinquent taxes, judgments and mechanic’s liens arising by, through, or under Seller and affecting the Real Property (collectively, “Monetary Encumbrances”). If Seller is unwilling to cure such Title Defects, Purchaser shall, subject to the remaining provisions of this Section, have the option of either accepting title to the Real Property without abatement of the Purchase Price, or of terminating this Agreement by giving written notice of such election to Seller prior to the expiration of the Due Diligence Period and, in the latter event, the E▇▇▇▇▇▇ Money Deposit shall be returned to Purchaser, and the rights and obligations of the parties hereto shall cease and terminate, except for such rights and obligations that survive the termination of this Agreement. From and after the Effective Date, Seller shall not execute any agreement, document or other encumbrance that will bind the Real Property or Purchaser after the Closing Date except as permitted or required under the Lease and except for agreements which are terminable on no more than thirty (30) days’ notice w...
Examination of Title. Seller shall, within ten (10) days of this Agreement, furnish Buyer with an abstract of title or a registered property abstract certified to date including proper searches covering bankruptcies and state and federal judgments, liens and levied and pending special assessments. Buyer shall have ten (10) business days after receipt of the abstract of title or registered property abstract either to have ▇▇▇▇▇'s attorney examine the title and provide Seller with written objections (“Objections”) or, at Buyer's own expense, to make an application for a title insurance policy and notify seller of the application. Buyer shall have ten (10) business days after receipt of the commitment for title insurance to provide Seller with a copy of the commitment and written Objections. Buyer shall be deemed to have waived any title Objections not made within the applicable ten (10) day period for above, except that this shall not operate as a waiver of Seller's covenant to deliver a statutory warranty deed, unless a warranty deed is not specified above.
Examination of Title a) Title to the Property shall be good and marketable and free from all encumbrances except for any service easements or rights-of-way to be reserved in favour of the Vendor and for any easements or rights-of-way registered on title and any minor encroachments shown on the surveyor Reference Plan delivered to the Purchaser.
b) The Purchaser is allowed until 6:00 p.m. on the 15th day prior to the Completion Date to examine the title to the Property at its own expense. If on or before this date the Purchaser furnishes the Vendor in writing with any valid objections: to the title; to any undisclosed outstanding work orders; to undisclosed non-compliance with the municipal by-laws or covenants and restrictions which run with the land and cannot be resolved before the Completion Date; as to any objection of which the Vendor shall be unable to remedy or correct by the Completion Date and which the Purchaser will not waive, then this APS shall, notwithstanding any intermediate acts or negotiations, be terminated and the deposit shall be returned to the Purchaser without deduction and the Vendor and the Purchaser shall not be liable for any costs, damages, compensation or expenses.
Examination of Title. Lessee shall have fifteen (15) days from the date of receipt of title report to examine the title to the property and to report, in writing, any valid objections thereto. Any exceptions to the title which would be disclosed by examination of the records shall be deemed to have been accepted unless reported in writing with said fifteen (15) days. If Lessee objects to any exceptions to the title, Lessor shall use all due diligence to remove such exceptions at his/her own expenses within sixty (60) days thereafter. But if such exceptions cannot be removed within the sixty (60) days allowed, all rights and obligations hereunder may, at the election of the Lessee, terminate and end unless he/she elects to purchase the property subject to such exceptions.
Examination of Title. Notwithstanding the foregoing, Purchaser will have until 5:00 P.M. (Eastern time) on the Termination Notice Date to examine title to the Property and notify Sellers in writing of any objections to title or which may be revealed by Purchaser's examination, including any objections to any of the Permitted Exceptions listed on Exhibit 15.3 (called herein Sellers' "Notice of Title Objections"). Purchaser will deliver to Sellers, expeditiously after its receipt by Purchaser, a current title commitment for the Property, together with legible copies of all title exceptions shown or disclosed thereon. The Notice of Title Objections, if and when delivered by Purchaser to Sellers, shall enumerate with specificity all title exceptions and objections which are acceptable to Purchaser, and all title exceptions or objections which are unacceptable to Purchaser (and all such title exceptions and objections which are so enumerated as acceptable to Purchaser (together with all such matters which are neither enumerated as acceptable nor unacceptable, all of which shall be deemed to be acceptable), shall supplement the items listed on Exhibit 15.3 and shall become Permitted Exceptions for all purposes of this Agreement). In the event that Purchaser fails to give a Notice of Title Objections on or before the Termination Notice Date, then such failure to notify Sellers timely will constitute a waiver of such right to object to any title defects, and this Agreement will remain in full force and effect in accordance with its terms and the purchase and sale contemplated hereby will be closed as herein provided, with Exhibit 15.3 as well as all exceptions shown on Purchaser's title commitment shall be deemed acceptable to Purchaser. Whether or not Purchaser shall have previously furnished to Sellers any Notice of Title Objections pursuant to the provisions of this Section 15.3, Purchaser may at or prior to Closing further notify Sellers in writing of any objections to title (which would result in the Property not being free and clear of all Liens, tenancies, leases, restrictions, encumbrances, charges, security interests, covenants and easements of every kind, except only Permitted Exceptions) arising between (1) 5:00 P.M. (Eastern time) on the "Title Objection Date" (which for this purpose shall mean the date on which Purchaser shall have given Sellers its Notice of Title Objections), and (2) the Closing Date. With respect to any objections to title set forth in such further noti...
Examination of Title. In addition to any encumbrances assumed or taken "subject to", Seller will convey title to the property subject only to: [1] real estate taxes not yet due; and [2] covenants, conditions, restrictions, r ights of way and easements of record, if any, which do not materially affect the value or intended use of the property.
Examination of Title. Lessee shall have days from the date of receipt of title report to examine the title to the property and to report, in writing, any valid objections thereto. Any exceptions to the title which would be disclosed by examination of the records shall be deemed to have been accepted unless reported in writing with said timeframe. If Lessee objects to any exceptions to the title, Lessor shall use all due diligence to remove such exceptions at his/her own expenses within sixty (60) days thereafter. But if such exceptions cannot be removed within the sixty (60) days allowed, all rights and obligations hereunder may, at the election of the Lessee, terminate and end unless he/she elects to purchase the property subject to such exceptions.
Examination of Title. In addition to any encumbrances referred to herein, BUYER shall take title to the property subject to the Permitted Exceptions as hereinafter defined. Within twenty (20) days of the execution of this Agreement Buyer shall order from the Title Company at Buyer’s expense, a Title Commitment with an effective date no earlier than thirty (30) days prior to the date of this Agreement issued through the Title Company and setting forth the state of title to the Property and all exceptions to coverage which would appear in an owner’s policy of title insurance, if issued, together with copies of all instruments identified in the Title Commitment as exceptions to title. If on or before ten (10) days of receipt of the Title Commitment, Buyer determines that the status of title reflected in such Title Commitment is unacceptable for any reasonable objection, Buyer shall so notify Seller in writing specifying such objectionable matters. Seller shall have a period of thirty (30) days following the receipt of such notice from Buyer to cure such defect; provided, however, that Seller shall not be obligated to cure any such defects. If Seller is unable or elects not to cure such defects or provide an alternative Title Commitment within the thirty (30) day period, within twenty (20) days following the expiration of such period Buyer may either terminate this Agreement or, at its election, maintain this Agreement in effect with the right to take title subject to such defects not cured by Seller, without any deduction or adjustment in the Purchase Price. If Buyer fails to notify Seller within ten (10) days of receipt of the Title Commitment of any objectionable matters set forth in the Title Commitment, then all matters set forth in Schedule B-2 of the Title Commitment shall be the “Permitted Exceptions.” Also, any objectionable matters which Seller is unable or elects not to cure which are accepted by Buyer shall also be Permitted Exceptions.
Examination of Title. Within ten (10) days after the City gives Notice of Exercise of Option, Fire Department shall obtain and provide to the City for examination an ALTA commitment for title insurance for the Property (“Title Commitment”) issued by a title company that is agreeable to the City and Fire Department, and is licensed to write title insurance in Wisconsin (“Title Company”). Said Title Commitment shall commit the Title Company to insure title to the Property by an owners’ standard form ALTA policy in the amount of the fair market value of the Property. The City shall have until five (5) business days prior to the expiration of the Due Diligence Period to deliver to Fire Department written notice of any objections to the condition of title. If the City fails to deliver such notice five (5) business days prior to the expiration of the Due Diligence Period, then the City shall be deemed to have approved of the condition of title as shown by such commitment. Exceptions to title approved by the City hereunder shall be deemed to be “Permitted Exceptions.” If Fire Department, through the exercise of commercially reasonable efforts, is unable to cure such objections to the condition of title prior to Closing, or cause the Title Company to commit to insure over such objections to the condition of title at the time of Closing to the satisfaction of the City, the City shall have the option, exercisable by written notice to Fire Department on or before the Closing Date, either to:
(i) terminate this Option Agreement, in which case this Agreement shall be null and void; or (ii) waive any uncured objections to the condition of title and perform pursuant to the terms of this Option Agreement, notwithstanding any uncured objections to the condition of title. If the City does not give timely notice to terminate this Option Agreement, then the uncured objections to the condition of title shall become Permitted Exceptions and the City shall be deemed to have waived its right to terminate this Option Agreement pursuant to this Section 3.a. Notwithstanding anything to the contrary set forth in this Option Agreement, Fire Department shall have an absolute obligation to satisfy or discharge any mortgages, money judgments, or other liens disclosed in the commitment capable of discharge upon payment of an ascertainable amount. All costs of providing such title commitment (including the GAP endorsement), and of issuing the title policy pursuant to such commitment, shall be borne equally by t...
Examination of Title. Closing to be held at (Title Company). Whose address is (Address). Buyer or Seller will employ the use of an escrow, title company and/or closing agent to perform a title search and examine title to property. ▇▇▇▇▇▇ agrees to convey a clear title to buyer free of all liens, encumbrances, bonds, assessments, judgments, bankruptcies, defects and/or burdens that might affect the equity of the property or its title. Buyer reserves right to rescind this contract if the title to be conveyed by Seller is not good and marketable. If any title or lien defects appear, ▇▇▇▇▇▇ agrees to grant an extension in order to clear any title or lien defects and/or to complete closing documentation.