Common use of Title and Other Matters Clause in Contracts

Title and Other Matters. Title to the Property, the legal description of the Property, and all documents and other matters relating in any way to the Loan or to the Property must be to the satisfaction of Bank. At Borrower's expense, Borrower shall furnish Bank with a 1992 ALTA loan policy (the "Title Policy"), in the face amount of the Loan, insuring the Deed of Trust as a valid first lien on the Property, together with all endorsements as Bank may reasonably require, including without limitation, deletion of standard exceptions I through 3, containing no exceptions other than those Bank approves, issued in substance and in form by a company or companies acceptable to Bank. The Title Policy shall contain "pending disbursements" provisions satisfactory to the Bank, and, as Bank may reasonably require, reinsurance with companies and in amounts reasonably acceptable to the Bank, as well as direct access agreements with such reinsurers The Bank hereby reserves the right to require the mechanic lien endorsement 101 (mechanic lien disbursement endorsement), the cost of which shall be borne by the Borrower.

Title and Other Matters. Title to the Property, the legal description of the Property, and all documents and other matters relating in any way to the Loan or to the Property must be to the satisfaction of Bank. At Borrower's expense, Borrower shall furnish Bank with a 1992 ALTA loan policy (the "Title Policy"), in the face amount of the Loan, insuring the Deed of Trust as a valid first lien on the Property, together with all endorsements as Bank may reasonably require, including without limitation, deletion of standard exceptions I 1 through 3, containing no exceptions other than those Bank approves, issued in substance and in form by a company or companies acceptable to Bank. The Title Policy shall contain "pending disbursements" provisions satisfactory to the Bank, and, as Bank may reasonably require, reinsurance with companies and in amounts reasonably acceptable to the Bank, as well as direct access agreements with such reinsurers The Bank hereby reserves the right to require the mechanic lien endorsement 101 (mechanic lien disbursement endorsement), the cost of which shall be borne by the Borrower.