THE SURVEY Clause Samples
The "THE SURVEY" clause defines the process and requirements for conducting a survey of the property involved in a transaction. Typically, this clause outlines who is responsible for obtaining the survey, the standards the survey must meet, and the timeframe for its completion. For example, it may specify that the buyer must obtain a current land survey certified by a licensed surveyor before closing. The core function of this clause is to ensure that all parties have accurate information about the property's boundaries and any encroachments or easements, thereby reducing the risk of future disputes over property lines.
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THE SURVEY. Seller shall obtain a survey for the Real Estate being sold hereunder and ▇▇▇▇▇▇ will be responsible for paying all costs in connection with the preparation (and recording) of the survey. The legal description provided by the survey will govern.
THE SURVEY. The Purchaser shall have the right to obtain a survey for the real estate being sold hereunder and Purchaser will be responsible for paying all costs in connection with the preparation (and recording) of the survey.
THE SURVEY. If Buyer desires a survey in addition to the survey provided by Seller pursuant to § 8(a)(iv) above, then promptly after the Opening of Escrow, Buyer shall cause a surveyor licensed in the State of Michigan to complete and deliver to Escrow Agent, Buyer and Seller a current, certified ALTA survey of the Real Property, Building and Improvements prior to the expiration of the Study Period (the “Survey”), whereupon, at Buyer’s option, the legal description in the Survey shall control over the description in Exhibit A attached hereto to the extent they may be inconsistent provided, however, Seller shall convey title with the same legal description that is of record unless the Surveyor certifies that the new legal description describes the same Premises as that described in the record title, and the county recorder accepts such new legal description for recording. Buyer shall compensate Seller for all county recorder expenses relating to accepting any new legal description. The Survey shall set forth the legal description and boundaries of the Real Property and all easements, encroachments and improvements thereon.
THE SURVEY. If Buyer terminates during the Feasibility Review Period for any reason other than a specified termination right which allows the Buyer to obtain a refund of the ▇▇▇▇▇▇▇ Money from the Seller, Seller will retain the ▇▇▇▇▇▇▇ Money and Seller agrees that by electing to retain the ▇▇▇▇▇▇▇ Money, Seller is releasing all claims and causes of action against Buyer, accrued or unaccrued, through the date that Seller agrees to accept the ▇▇▇▇▇▇▇ Money. This Section will survive the closing or earlier termination of this Contract.
THE SURVEY. Seller, at Seller's cost, shall, within fifteen (15) days of Opening of Escrow, cause a certified ALTA survey of the Real Property, Building and Improvements (the "Survey") to be completed by a surveyor licensed in the State of Ohio and delivered to Escrow Agent and Buyer, whereupon the legal description in the Survey shall control over the description in Exhibit A attached hereto to the extent they may be inconsistent. The Survey shall set forth the legal description and boundaries of the Property and all easements, encroachments and improvements thereon.
THE SURVEY. Promptly after the Opening of Escrow, Buyer, at its expense, shall cause a surveyor licensed in the State of North Carolina to complete and deliver to Escrow Agent and Buyer a current, certified ALTA As-Built survey of the Real Property, Building and Improvements (the “Survey”). The Survey shall set forth the legal description and boundaries of the Property and all easements, encroachments and improvements thereon. To the extent the Survey description differs from the current record description, Buyer shall obtain assurances to its satisfaction that such Survey description can be insured prior to the expiration of the Study Period, and Seller shall only be obligated to warrant its current, record description in the Deed.
THE SURVEY. Seller will provide to Purchaser a copy of the most recent survey of the Property or of a larger tract that includes the Property in Seller’s possession. An updated Survey shall obtained by Purchaser and shall: (i) meet or exceed the standards for a Category IA, Condition I or II, as applicable, survey (as defined by Standards for Land Surveys and Specifications for Categories of Surveying of the Texas Surveyors Association); (ii) set forth the gross acreage within the Property; (iii) locate and show the size of any portion of the Property which is currently located in a flood plain or other flood hazard area according to any of the applicable city maps, the Flood Insurance Rate Maps or the Flood Hazard Boundary Maps, issued by the Department of Housing and Urban Development, the Federal Insurance Administration, or the Federal Emergency Management Agency; (iv) locate all existing improvements, easements and rights-of-way (including applicable recording data), encroachments, conflicts, and protrusions affecting the Property and significant matters observed by the Surveyor, whether or not of record; (v) reflect the location and size of all gas, electrical, water, and sewer lines, wires and cable crossings, and anchors or guy wires located on the Property; (vi) show the location of all required building set back lines; (vii) show the location of abutting dedicated public streets providing access to the Property, and all sidewalks, curbs, and driveways; and (viii) show the location and type of fences and other improvements along the boundaries and (ix) certify the number of gross acres of land within the Property, which figure shall be used to calculate the Purchase Price. The surveyor’s certificate shall be in a form acceptable to Seller, Purchaser, any lender that will advance all or a portion of the Purchase Price to Purchaser, and the Title Company. The legal description of the Property contained in the new Survey, if different from the description contained in Exhibit “A”, shall be substituted for the description of the Property contained in Exhibit “A”, and the Agreement shall be deemed amended by the substitution of the legal description of the Property contained in the new Survey for the description of the Property contained in Exhibit “A”. At Closing Seller will reimburse Purchaser for the cost of the Survey up to a maximum of $7,000.00.
THE SURVEY. Promptly after the Opening of Escrow, Buyer shall, at its sole cost and expense, cause a surveyor licensed in the State of Massachusetts to complete and deliver to Escrow Agent and Buyer a current, certified ALTA As-Built survey of the Real Property, Building and Improvements (the “Survey”). The legal descriptions in the Survey shall control over the description in Exhibit A attached hereto to the extent they may be inconsistent. The Survey shall set forth the legal description and boundaries of the Property and all easements, encroachments and improvements thereon.
THE SURVEY. Buyer, in Buyer's sole and absolute discretion, shall have approved the condition of the Property as reflected in the Survey. In this regard, Seller, within two (2) days after the Opening of Escrow, shall deliver to Buyer and Escrow Agent Seller's existing survey of the Property (the "Survey). If Buyer wishes, Buyer may have the Survey updated at Buyer's cost and expense. If Buyer does so decide, such updated Survey shall become the Survey described herein and the date that Buyer receives such updated Survey shall be the date to begin Buyer's objection period set forth immediately below. If Buyer does not decide to update the Survey, then the existing Survey shall constitute the Survey hereunder. Buyer shall have until 5:00 p.m. Arizona time on the 20th day after Buyer's receipt of the Report and the Survey (either the existing Survey, if Buyer does not decide to update same, or the updated Survey, if Buyer does so decide) in which to advise Seller and Escrow Agent, in writing, either: (i) that title to the Property as reflected in the Report and the Survey is acceptable to Buyer; or (ii) give notice of any Title Objections pursuant to the terms of Section 7.1 above, whereupon the provisions in Section 7.1 above regarding cure and cancellation shall apply. If Buyer waives its feasibility contingency set forth in Section 7.2 above, Seller shall, at Seller's sole cost and expense, cause the Survey to be recertified to Buyer, Buyer's successors and assigns and Buyer's lender prior to Closing.
THE SURVEY. Buyer, at Buyer's cost, may cause a surveyor licensed in the State of Arizona to complete and deliver to Escrow Agent and Seller a current, certified ALTA survey of the Real Property, Building and Improvements (the "Survey"), whereupon the legal description in the Survey shall control over the description in Exhibit A attached hereto to the extent they may be inconsistent. The Survey shall set forth the legal description and boundaries of the Property and all easements, encroachments and improvements thereon.