Common use of Marketability of Title Clause in Contracts

Marketability of Title. Seller covenants that the title to the Property is marketable and free from valid objections. The Seller shall deliver to the Buyer, upon settlement, a duly executed and acknowledged Deed of Bargain and Sale, with General Warranty of Title, subject only to those easements, conditions and restrictions which do not constitute objections to the title to the Property. In the event an examination of title shall reveal any objection or circumstances adversely affecting the marketability of title to the Property, the Buyer shall promptly notify the Seller in writing prior to the expiration of the Feasibility Period of such defects; and, Seller shall remove at Seller's expense any such defect or circumstances adversely affecting the marketability of title on or before the settlement date. If Seller is unable or refuses to remove the Buyer's objections to marketability of title, then this Agreement shall terminate, the Deposit shall be released to Buyer and both Buyer and Seller shall thereafter be relieved from further liability under this Agreement. In the event Seller is unable or refuses to remove the buyer's objections to title, then in that event the Buyer shall have the option to accept title with said objections with an acceptable offset or adjustment in the sales price and may proceed to Closing in accordance with the terms of this Agreement.

Marketability of Title. Seller covenants that the title to the Property is marketable and free from valid objections. The Seller shall deliver to the Buyer, upon settlement, a duly executed and acknowledged Deed of Bargain and Sale, with General Warranty of Title, subject only to those easements, conditions and restrictions which do not constitute objections to the title to the Property. In the event an examination of title shall reveal any objection or circumstances adversely affecting the marketability of title to the Property, the Buyer shall promptly notify the Seller in writing prior to the expiration of the Feasibility Period of such defects; : and, Seller shall remove at Seller's expense any such defect or circumstances adversely affecting the marketability of title on or before the settlement date. If Seller is unable or refuses to remove the Buyer's objections to marketability of title, then this Agreement shall terminate, the Deposit shall be released to Buyer and both Buyer and Seller shall thereafter be relieved from further liability under this Agreement. In the event Seller is unable or refuses to remove the buyerBuyer's objections to title, then in that event the Buyer shall have the option to accept title with said objections with an acceptable offset or adjustment in the sales price and may proceed to Closing in accordance with the terms of this Agreement.