Preliminary Title Report. Purchaser, at Purchaser’s sole cost and expense, shall cause the Title Company to issue and deliver to Purchaser a title commitment, update or abstract issued by the Title Company, accompanied by a legible copy of all recorded documents affecting the title to the Property and which would constitute encumbrances, restrictions, reservations or easements against the Property at the Closing (collectively, the “Title Commitment”). Within twenty (20) days after the Effective Date, Purchaser shall deliver written notice to Seller if the condition of title to the Property as set forth in Title Commitment [***] described in Section 2.02 below is not satisfactory to Purchaser (such notice being called the “Objection Notice”). Within seven (7) days of Seller’s receipt of the Objection Notice, Seller shall respond to Purchaser in writing (the “Seller’s Reply”) whether or not Seller will attempt to or can cure the unsatisfactory conditions to title. If Seller agrees to cure the unsatisfactory condition of title, such cure shall occur, if possible, prior to the Closing Date. However, if Seller is unwilling or unable to cure Purchaser’s objections as indicated in Seller’s Reply, then Purchaser, within seven (7) days of the receipt of Seller’s Reply, may elect to either (a) terminate this Agreement and receive a refund of the Escrow Deposit, or (b) proceed with the Closing without any reduction in the Purchase Price.
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Sources: Agreement of Purchase and Sale (Postal Realty Trust, Inc.), Agreement of Purchase and Sale (Postal Realty Trust, Inc.), Agreement of Purchase and Sale (Postal Realty Trust, Inc.)
Preliminary Title Report. PurchaserWithin thirty (30) days after the date hereof, Seller at Purchaser’s Seller's sole cost and expense, shall cause the Title Company to issue and deliver to Purchaser and Seller a title commitment, update or abstract issued by commitment (the "Title CompanyCommitment"), accompanied by a two (2) legible copy copies of all recorded documents affecting the title to the Property and which would constitute encumbrances, restrictions, reservations or easements encumbrances against the Property at the Closing Closing. Purchaser shall give Seller written notice on or before the expiration of thirty (collectively, the “Title Commitment”). Within twenty (2030) days after Purchaser's receipt of the Effective DateTitle Commitment, Purchaser shall deliver written notice to Seller two (2) legible copies of all recorded documents affecting the Property and the Survey provided in Section 2.02 below if the condition of title to the Property as set forth in the Title Commitment [***] described in Section 2.02 below and the Survey is not satisfactory satisfactory. In the event Purchaser determines that the condition of title or any exceptions to Purchaser title are not satisfactory, Seller may (but shall not be obligated), at Seller's sole cost and expense, promptly undertake to eliminate or modify all such notice being called unacceptable matters to the “Objection Notice”)satisfaction of Purchaser. Within seven In the event Seller is unable or unwilling to satisfy Purchaser's objections within ten (710) days of Seller’s after receipt of the Objection Noticenotice thereof from Purchaser, Seller shall respond to Purchaser in writing may, at its option, either (the “Seller’s Reply”i) whether or not Seller will attempt to or can cure the unsatisfactory conditions to title. If Seller agrees to cure the unsatisfactory condition of title, such cure shall occur, if possible, prior accept title subject to the Closing Date. However, if Seller is unwilling or unable to cure Purchaser’s objections as indicated in Seller’s Reply, then raised by Purchaser, within seven (7) days of the receipt of Seller’s Reply, may elect to either (a) terminate this Agreement and receive a refund of the Escrow Deposit, or (b) proceed with the Closing without any reduction an adjustment in the Purchase Price, in which event such objections shall be deemed to be waived for all purposes, or (ii) terminate this Agreement, in which event the Escrow Deposit shall be promptly returned to Purchaser by the Title Company and this Agreement shall be of no further force or effect.
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