Survey and Title Policy Sample Clauses

The Survey and Title Policy clause outlines the requirements and procedures for obtaining and reviewing property surveys and title insurance policies in a real estate transaction. Typically, this clause specifies who is responsible for ordering and paying for the survey and title policy, the acceptable standards for these documents, and the timeframe for their delivery and review. For example, it may require the seller to provide a recent survey and a title insurance commitment showing clear ownership and any encumbrances. The core function of this clause is to ensure that the buyer receives clear and accurate information about the property's boundaries and legal status, thereby reducing the risk of future disputes or unexpected claims.
Survey and Title Policy. Seller shall deliver (or cause to be delivered) to Buyer the updated and recertified Survey and the Title Policy pursuant to Article XII below.
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Survey and Title Policy. The Title Policy and Survey shall be executed and/or delivered as provided in Section 8.2(f) and Section 8.2(g).
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Survey and Title Policy. On or prior to the Closing Date, ETS shall deliver to Hach a current "as-built" metes and bounds survey for each parcel of ETS Real Property, including all easements that benefit such properties (collectively, the "SURVEYS"), which shall (a) be made in accordance with the "Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys" jointly established and adopted by the American Land Title Association and the American Congress on Surveying and Mapping Minimum Standards in 1992 (the "ALTA/ACSM STANDARDS") and meet the accuracy requirements of an "Urban" survey as defined therein, (b) be in form, scope, and substance reasonably satisfactory to Purchaser, (c) contain optional survey requirements 1, 2, 3, 4, 6, 7(a), 7(b), 8, 9, 10, 11 and 13 as described on Table A of the ALTA/ASCM Standards, (d) contain a survey certification reasonably acceptable to Hach and (e) not reflect the existence of any Security Interests affecting or relating to the ETS Real Property (other than for taxes not yet due and payable). In addition, the Company shall deliver to Hach on or prior to the Closing Date an American Land Title Association ("ALTA") title insurance policy (the "TITLE POLICY") insuring title to each parcel of ETS Real Property, which Title Policy shall be (i) in an amount reasonably acceptable to Hach, (ii) contain such endorsements thereto as are available and as Hach shall deem necessary or desirable, and (iii) not reflect the existence of any Security Interests affecting or relating to such ETS Real Property (other than for taxes not yet due and payable).
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Survey and Title Policy. On or prior to the Closing Date, the Company shall deliver to Purchaser a current "as-built" metes and bounds survey for each parcel of Owned Real Property, including all easements that benefit such properties (collectively, the "Surveys"), which shall (A) be made in accordance with the "Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys" jointly established and adopted by the American Land Title Association and the American Congress on Surveying and Mapping Minimum Standards in 1992 (the "ALTA/ACSM Standards") and meet the accuracy requirements of an "Urban" survey as defined therein, (B) be in form, scope and substance reasonably satisfactory to Purchaser, (C) contain optional survey requirements 1, 2, 3, 4, 6, 7(a), 7(b), 8, 9, 10, 11 and 13 as described on Table A of the ALTA/ACSM Standards, (D) contain a survey certification reasonably acceptable to Purchaser and (E) not reflect the existence of any Liens affecting or relating to the Owned Real Property other than Permitted Liens. In addition, the Company shall deliver to Purchaser on or prior to the Closing Date an American Land Title Association ("ALTA") title insurance policy (the "Title Policy") insuring title to each parcel of Owned Real Property, which Title Policy shall be (i) in an amount reasonably acceptable to Purchaser, (ii) contain such endorsements thereto as are available and as Purchaser shall deem necessary or desirable and (iii) not reflect the existence of any Liens affecting or relating to such Owned Real Property other than Permitted Liens. The cost of the Surveys and the Title Policy shall be shared equally by Purchaser and the Sellers; provided, however, any amount over $10,000 shall be paid solely by Purchaser.
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Related to Survey and Title Policy

  • Title Policy The Title Company shall be prepared to issue, upon payment of the title premium at its regular rates, a title policy in the amount of the Purchase Price, insuring title to the Property is vested in the Purchaser or its designee or assignee, subject only to the Permitted Exceptions, with such endorsements as shall be reasonably required by the Purchaser.

  • Title Policy and Survey A. TITLE POLICY: Seller shall furnish to Buyer at Seller’s Buyer’s expense an owner policy of title insurance (Title Policy) issued by (Title Company) in the amount of the Sales Price, dated at or after closing, insuring Buyer against loss under the provisions of the Title Policy, subject to the promulgated exclusions (including existing building and zoning ordinances) and the following exceptions: (1) Restrictive covenants common to the platted subdivision in which the Property is located. (2) The standard printed exception for standby fees, taxes and assessments. (3) Liens created as part of the financing described in Paragraph 3. (4) Utility easements created by the dedication deed or plat of the subdivision in which the Property is located. (5) Reservations or exceptions otherwise permitted by this contract or as may be approved by ▇▇▇▇▇ in writing. (6) The standard printed exception as to marital rights. (7) The standard printed exception as to waters, tidelands, beaches, streams, and related matters. (8) The standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines, encroachments or protrusions, or overlapping improvements: (i) will not be amended or deleted from the title policy; or (ii) will be amended to read, "shortages in area" at the expense of Buyer Seller. (9) The exception or exclusion regarding minerals approved by the Texas Department of Insurance.

  • Title Policies The Title Company shall be prepared, -------------- subject only to payment of the applicable premium, endorsement and related fees and delivery of all conveyance documents in recordable form, to issue a title insurance policy to Purchaser, subject only to the Permitted Encumbrances, in accordance with Section 3.3. -----------

  • Title Insurance and Surveys Due to the critical timeline requirements to close the transaction, PHI may order title searches on all NPC Owned Real Property and NPC Leased Real Property to be transferred to PH pursuant to this Agreement. These title searches will be performed by a national title company approved by PHI. If permissible under applicable law and the terms of any agreement with such company, the fees paid for the searches may be applied toward the title policy costs for title policies desired by PH based upon these title searches. In the event PH or PHI requires environmental reports relating to the NPC Owned Real Property, PH shall first obtain NPC’s prior written consent and shall execute the Access and Confidentiality Agreement substantially in the form attached as Exhibit “E”. NPC will not consent to any invasive environmental audit or review and the results of any permitted environmental audit or review will not affect PH’s obligations hereunder. To the extent that PH requires surveys of the NPC Owned Real Property, PH shall retain a nationally recognized firm to perform such work. The consultants referenced in this Section 2.7 will be retained solely by PH, but NPC shall have the right to obtain copies of any documents or reports that they prepare. As provided for in Sections 5 and 10.9, PH shall reimburse NPC at Closing for all actual or estimated costs incurred by PH related to these items, subject to any post-closing adjustments pursuant to Section 10.1 of this Agreement. Notwithstanding the foregoing however, PH will not be responsible for the payment or reimbursement of any costs relating to title insurance, surveys and/or environmental reports on any of the subject real estate unless such service is specifically requested by PH, and request is given forty-five (45) days prior to the Closing.

  • Title Insurance The Mortgage Loan is covered by an ALTA lender's title insurance policy, or with respect to any Mortgage Loan for which the related Mortgaged Property is located in California a CLTA lender's title insurance policy, or other generally acceptable form of policy or insurance acceptable pursuant to Seller's Underwriting Guidelines and each such title insurance policy is issued by a title insurer acceptable to prudent lenders in the secondary mortgage market and qualified to do business in the jurisdiction where the Mortgaged Property is located, insuring the originator, its successors and assigns, as to the first (with respect to a First Lien Loan) or second (with respect to a Second Lien Loan) priority lien of the Mortgage in the original principal amount of the Mortgage Loan (or to the extent a Mortgage Note provides for negative amortization, the maximum amount of negative amortization in accordance with the Mortgage), subject only to the Permitted Exceptions, and in the case of Adjustable Rate Mortgage Loans, against any loss by reason of the invalidity or unenforceability of the lien resulting from the provisions of the Mortgage providing for adjustment to the Mortgage Interest Rate and Monthly Payment. Where required by state law or regulation, the Mortgagor has been given the opportunity to choose the carrier of the required mortgage title insurance. Additionally, such lender's title insurance policy affirmatively insures ingress and egress, and against encroachments by or upon the Mortgaged Property or any interest therein. The Seller (or its predecessor in interest), its successors and assigns, are the sole insureds of such lender's title insurance policy, and such lender's title insurance policy is valid and remains in full force and effect and will be in force and effect upon the consummation of the transactions contemplated by this Agreement. No claims have been made under such lender's title insurance policy, and no prior holder of the related Mortgage, including the Seller, has done, by act or omission, anything which would impair the coverage of such lender's title insurance policy, including without limitation, no unlawful fee, commission, kickback or other unlawful compensation or value of any kind has been or will be received, retained or realized by any attorney, firm or other person or entity, and no such unlawful items have been received, retained or realized by the Seller;