Monetary Encumbrances Clause Samples

Monetary Encumbrances. Except for any non-delinquent real property taxes and special assessments disclosed on the Commitment, there shall be no monetary encumbrances, debts, liabilities or obligations of Seller with respect to the Property outstanding as of the Closing Date. Any labor and materials used in any construction on or preparation of the Property have been paid for, and there are no disputes with regard thereto.

Monetary Encumbrances. All monetary encumbrances, or ancillary documentation thereof, shall be automatically determined to be a disapproved exception that shall be removed by Seller at Seller’s sole cost as a condition to Closing.

Monetary Encumbrances. Property must be conveyed free and clear of all taxes, except the general taxes for the 342 344 346 351 Property: 352 None 353

Monetary Encumbrances. Notwithstanding any other provision of this Agreement, the Seller shall be obligated to cause, on or before the Closing Date, the Property to be released from all security deeds, mortgages, tax liens, financing statements and other liquidated financial encumbrances of any kind affecting Seller’s title to the Property incurred by, against or at the instance of the Seller, whether or not such matters were included in Purchaser’s Title Objection Notice (the “Monetary Encumbrances”). The Closing Agent shall withhold and disburse from the Purchase Price a sufficient amount to satisfy all such Monetary Encumbrances. Notwithstanding anything contained herein to the contrary, Seller shall not be obligated or compelled to cause the Property to be released from any Monetary Encumbrances if the sum total of the required payoffs exceed the Purchase Price and, in the event Seller elects not to release any such Monetary Encumbrances, Purchaser may elect in writing either to (i) proceed with Closing subject to such Monetary Encumbrances, which shall be deemed part of the Permitted Exceptions, or (ii) terminate this Agreement, in which event this Agreement shall become null and void, Purchaser’s ▇▇▇▇▇▇▇ Money shall be refunded (less the sum of TWO HUNDRED TWENTY-FIVE AND NO/100 DOLLARS ($225.00), which shall be paid to Seller in consideration for this Agreement), and, except as otherwise provided herein, neither Purchaser nor Seller shall have any further liability or obligations to the other hereunder.

Monetary Encumbrances. As between Owner and Grantee, Owner shall remove any and all monetary encumbrances affecting the Property such that the Lease for the benefit of Grantee would be free and clear of any and all such monetary encumbrances except as otherwise permitted under the Lease.

Monetary Encumbrances. Property must be conveyed free and clear of all taxes, except the general taxes for the year 342 of closing. All monetary encumbrances (such as mortgages, deeds of trust, liens, financing statements) must be paid by ▇▇▇▇▇▇ and 343 released except as Seller and buyer may otherwise agree. Existing monetary encumbrances are as follows:

Monetary Encumbrances. The property is transferred free of monetary encumbrances. The property is transferred free of monetary encumbrances, with the exception of the following mortgage deeds: ……………………………………………….. ……………………………………………….. Any monetary encumbrances which shall not remain on the property shall be deregistered for the account of the seller. The estate agent is authorised to obtain statements of outstanding debt and deregistration confirmations from the mortgagees in respect of the mortgages to be deregistered in connection with the closing. The seller confirms that there exist no monetary encumbrances of any type, including liens, apart from those shown in the transcript from the Register of Land Titles and Land Charges. The seller undertakes to immediately inform the estate agent if any lien proceedings are conducted prior to registration of the title deed. The seller also undertakes to pay all taxes, duties and fees, etc., relating to the property which have fallen due or will fall due prior to closing. The seller hereby irrevocably authorises the estate agent to discharge any monetary encumbrances which are set out in the certified transcript from the Register of Land Titles and Land Charges/closing specification and which it has not been agreed to pass on to the purchaser. The property is sold “as is” as at the time of the purchaser’s inspection, cf. Section 3-9 of the Sale of Real Estate Act. The property shall nonetheless be held to suffer a defect in the following circumstances: If the seller fails to perform his or her specific obligations under the present agreement. If the purchaser has not received information concerning matters relating to the property, of which the seller was aware or ought to have been aware, and which the purchaser had reason to expect that he or she would receive. However, this shall only apply if it can be assumed that the failure to disclose such information has affected the agreement, cf. Section 3-7 of the Sale of Real Estate Act. If the seller has provided incorrect information concerning the property. The same shall apply if the property is not in conformity with information provided in any advertisement, sales prospectus or other marketing on behalf of the seller. However, this shall only apply if it can be assumed that the failure to disclose such information has affected the agreement, and it has not been corrected in a clear and timely manner, cf. Section 3-8 of the Sale of Real Estate Act. If the state of the property is mate...

Monetary Encumbrances. Seller shall cause all Monetary Encumbrances reported in Buyer's Title Objection Notices to be discharged, terminated or otherwise removed from the Property before or at the Closing.

Monetary Encumbrances. With respect to any Title Matter which is a mortgage or similar encumbrance created voluntarily by Seller or Seller's predecessors in title which secures solely the payment of a stated indebtedness (each a "Monetary Encumbrance"), Seller shall notify Buyer within twenty (20) days after receipt of such Title Objection Notice, either (i) that Seller has paid the amount necessary to remove the same from the record title to the Property and will, on or prior to the Closing Date, obtain recordable instruments or other documentation sufficient to cause the Title Company, for no additional premium, either to delete such matters from an owner's title insurance policy to be issued to Buyer at standard rates or to affirmatively insure Buyer in such owner's title insurance policy (in form and substance acceptable to Buyer) against loss arising out of the enforcement or attempted enforcement of such Monetary Encumbrances, or (ii) that Seller agrees to pay on the Closing Date the sum required to remove the same from the record title out of the Purchase Price to be received at Closing, pursuant to arrangements reasonably acceptable to Seller and Buyer, and will on the Closing date obtain recordable instruments or other documentation sufficient to cause the Title Company, for no additional premium, either to delete such matters from an owner's title insurance policy against loss arising out of the enforcement or attempted enforcement of such Monetary Encumbrances; or