Common use of Objections to Title Clause in Contracts

Objections to Title. Purchaser shall have until the later of (a) ten (10) business days from and after its receipt of the Title Commitment (and copies of all recorded documents listed in the Title Commitment) or (b) sixty (60) days after the Effective Date, to approve or object to the condition of title disclosed in the Title Commitment or matters of Survey. Purchaser's approval of title and Survey shall be a condition precedent to Purchaser's obligation to close the transaction contemplated by this Agreement, which condition Purchaser reserves the right to waive. If objection to the title or Survey is made, based upon a written opinion of Purchaser, that title or Survey is not in a condition satisfactory to Purchaser, Purchaser, at its option, may either terminate this Agreement and receive back the entire Deposit or give Seller thirty (30) business days from the date it is notified in writing of the particular defects claimed, either (i) to remedy the title or Survey, or (ii) to obtain title insurance as required above, or (iii) to refund the Deposit in full termination of this Agreement, if unable to remedy the title or Survey or obtain title insurance. If the Seller remedies the title or Survey or shall obtain a Title Commitment acceptable to Purchaser within the time specified, and upon waiver or satisfaction of the conditions contained in ▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇▇ agrees to complete the sale and if Seller is unable to remedy the title or Survey or obtain title insurance within the time specified, the Deposit shall be refunded forthwith in full termination of this Agreement. If Purchaser makes no written objections to Seller within the later of: (a) ten (10) business days after receipt of the last of the Title Commitment and copies of all recorded documents listed in the Title Commitment or (b) sixty (60) days after the Effective Date, Purchaser shall be deemed to have accepted the condition of title disclosed in the Title Commitment and matters of Survey and waived its rights to object to the condition of title and to object to the matters of Survey. Notwithstanding the foregoing, Purchaser, at its sole option, may waive any objections to title and Survey, in writing, and in such event, Purchaser and Seller shall proceed to complete this transaction according to the terms of this Agreement, subject to satisfaction or waiver of all of Purchaser's other conditions precedent contained herein.

Objections to Title. For purposes of this Agreement, the term “Permitted Exceptions” means those exceptions, other than any exception in connection with the Deed of Trust, set forth in the Title Commitment which are not objected to by Purchaser pursuant to this Section 5 (b). In the event the Title Commitment contains any exceptions to title, Purchaser shall have until the later of of: (ai) ten (10) business days Business Days from and after its receipt of the Title Commitment (and copies of all recorded documents listed in the Title Commitment) , or (bii) sixty (60) days after the Effective Dateend of the Due Diligence Period, to approve or object to the condition of title disclosed in the Title Commitment or matters of SurveyCommitment. Purchaser's ’s approval of any such exceptions to title and Survey which are not Permitted Exceptions shall be a condition precedent to Purchaser's ’s obligation to close the transaction contemplated by this Agreement, which condition Purchaser reserves the right to waive. If objection to the title or Survey is made, based upon a written opinion of Purchaser’s attorney, that title or Survey is not in the condition required for performance hereunder for reason other than any lien, judgment, debt, security interest or other lien, financial encumbrance or obligation in a condition satisfactory to Purchaserliquidated amount, Purchaser, at its option, may either terminate this Agreement and receive back the entire Deposit or Purchaser shall give Seller thirty ten (3010) business days Business Days from the date it is notified in writing of the particular defects claimed, either either, as Seller shall elect, (i) to remedy the title or Survey, or (ii) to obtain title insurance as required above, or (iii) to refund decline to remedy the Deposit title or obtain title insurance as required above, and, if Purchaser has not elected to waive such defect, the E▇▇▇▇▇▇ Money, plus accrued interest, shall be refunded forthwith in full termination of this Agreement, subject to the provisions of Section 25 of this Agreement. Provided all other conditions precedent set forth in Section 4 of this Agreement have been met to Purchaser’s satisfaction or have been waived by Purchaser, if unable to remedy the title or Survey or obtain title insurance. If the Seller remedies the title or Survey or shall obtain obtains a Title Commitment acceptable to Purchaser within the time specified, and upon waiver or satisfaction of the conditions contained in ▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇▇ Purchaser agrees to complete the sale sale, and if Seller is unable to remedy the title or Survey or obtain title insurance within the time specified, the Deposit E▇▇▇▇▇▇ Money, plus accrued interest, shall be refunded forthwith in full termination of this Agreement, subject to the provisions of Section 25 of this Agreement. If Purchaser makes no written objections shall have the right to Seller within notify Title Company of any matters materially affecting the later of: (a) ten (10) business days after receipt of title to the last of Property which have not been disclosed by the Title Commitment after reviewing same with Seller and copies permitting Seller the opportunity to cure or dispose of all recorded documents listed same. In the event such matters, in the Title Commitment or (b) sixty (60) days after opinion of Purchaser, adversely affect the Effective Datetitle to the Property, Purchaser shall be deemed to have accepted the condition of title disclosed in the Title Commitment and matters of Survey and waived its rights right to object to the condition of the title and to object to the matters of Survey. Notwithstanding the foregoing, Purchaser, at its sole option, may waive any objections to title and Survey, in writing, and in such event, Purchaser and Seller shall proceed to complete this transaction according to the terms of this Agreement, subject to satisfaction or waiver of all of Purchaser's other conditions precedent contained as provided herein.