Title Approval Clause Samples

Title Approval. Seller, at Seller’s expense, will provide to Buyer within 14 days after the effective date of this agreement: (a) a current title insurance commitment in the amount of the total purchase price showing title to the property to be good and indefeasible and vested solely in Seller. Buyer will have 7 days from the date of receipt of the title commitment (and from any subsequent amendments or supplement) to object to any exceptions shown by giving written notice to Seller. Provided that any matter not objected to by Buyer within the 5-day period shall be deemed to be acceptable to Buyer ("Permitted Exceptions"). Seller may, but is not obligated to, cure the title objections. If Seller has not cured the title objections to Buyer's reasonable satisfaction within 5 days from the date the objections are disclosed or if Seller elects not to cure the objections, then Buyer will have as its sole options the right to either terminate this agreement and obtain a return of ▇▇▇▇▇▇▇ money or waive the objections and consummate the purchase of the property subject to the objections, all of which will be deemed Permitted Exceptions. Failure by Buyer to terminate this agreement within 5 days after Seller's 5 day cure period constitutes Buyer's waiver of any objections, and the uncured objections will be deemed “Permitted Exceptions”.

Title Approval. Purchaser shall have a period of three (3) business days from the Effective Date (the “Title Review Period”) in which to review the Commitment, the Title Documents, the Pro Forma and the Survey (collectively, the “Title and Survey Documents”) and deliver to Seller, at Purchaser’s election, in writing, such objections as Purchaser may have to any matters contained in the Title and Survey Documents (“Purchaser’s Objection Notice”; any of said objections listed on Purchaser’s Objection Notice are deemed the “Objectionable Exceptions”); provided, however, Purchaser shall not be required to notify Seller of its objection to, and Seller shall cause Title Company to remove any mortgage, deed of trust or financing statement relating thereto that encumbers the Project or any matter arising after the Effective Date from the acts of Seller, but excluding any exceptions which arise from contracts entered into by any of the tenants of the Building listed in Exhibit C attached hereto (collectively, the “Tenants”) or other third party to which Seller is not a party. Seller shall have two (2) business days to agree or disagree to remove prior to Closing, all such Objectionable Exceptions by written notice to Purchaser. Seller’s failure to deliver such notice to Purchaser within said two (2) business day period shall be deemed Seller’s refusal to remove all such Objectionable Exceptions prior to Closing. If Seller does not agree to remove any Objectionable Exceptions to which Purchaser objects within such two (2) business period, then Purchaser shall have the right (but not the obligation), at any time on or prior to the Decision Date, either (i) to accept title to the Project subject to the Objectionable Exceptions, which shall then become Permitted Exceptions, without reduction in the Purchase Price; or (ii) to cancel and terminate this Agreement by written notice to Seller and Escrow Agent and, notwithstanding anything to the contrary set forth herein, to receive a refund of the ▇▇▇▇▇▇▇ Money, including all interest accrued thereon. In the event that Purchaser elects to cancel and terminate this Agreement, the Escrow Agent shall disburse the ▇▇▇▇▇▇▇ Money and all interest accrued thereon to Purchaser immediately upon receipt of notice from Purchaser and Seller (neither party shall delay in executing a release of such ▇▇▇▇▇▇▇ Money in such event) and neither party shall have any further obligations to the other party hereunder and the parties shall be released from furth...

Title Approval. Within ten (10) days of the Effective Date of this Contract, Seller shall deliver to Buyer a Commitment for Title Insurance or Preliminary Title Report, as applicable, issued by Title Company (the "Commitment") and, to the extent available, legible copies of all recorded instruments noted as exceptions in the Commitment, (and a survey of the Land and Improvements). If Buyer has an objection to items disclosed in such Commitment or shown on the survey, Buyer shall have until the end of the Inspection Period to make written objections to Seller. Any items disclosed in such Commitment or shown on the survey if not timely objected to by Buyer shall be deemed approved ("Approved Title Matters"). If Buyer makes such written objections, Seller shall have thirty (30) days from the date of such written notice to cure the same. If required, the Closing Date shall be extended to allow such cure; provided, however, that the Closing Date shall not be extended beyond the aforementioned 30-day cure period unless otherwise agreed by Buyer and Seller. Closing to cure the same. Seller agrees to utilize reasonable efforts and reasonable diligence to cure such objections, if any, provided that Seller shall not be required to expend more than $1,000 to do so. If the objections are not cured within such time period, Buyer may (i) terminate this Contract upon written notice to Seller in which event the Deposit shall be returned to Buyer and neither party shall have any further rights or obligations pursuant to this Contract except as otherwise provided above, or (ii) waive the unsatisfied objections and close the transaction and the Sales Price shall not be reduced.

Title Approval. (a) Seller has previously delivered to Buyer and Buyer acknowledges receipt of: a Commitment for Title Insurance with copies of all recorded instruments affecting the Property and recited as exceptions in said Commitment for Title Insurance (collectively, the “Commitment”). Within fifteen (15) days of the Effective Date, Seller shall, at Contract of Sale — W▇▇▇▇▇ Ranch Apartments Seller’s sole cost and expense provide to Buyer a current “as-built” survey (“New Survey”) which shall depict the location of the new swimming pool and pool house upon the Land. New Survey must: (1) be prepared by a Registered Professional Land Surveyor; (2) be in a form reasonably acceptable to the Title Company; (3) set forth a legal description of the Lands by metes and bounds or by reference to a platted lot or lots; (4) show that the New Survey was made on the ground with corners marked with monuments either found or placed; (5) show any discrepancies or conflicts in boundaries, and any visible encroachments; (6) contain the surveyor’s certificate that the Survey is true and correct; and (7) show the location and size of all of the following on or immediately adjacent to the Land, if any, if recorded or visible and apparent: (a) buildings, (b) building set back lines (as shown on any recorded plat, but not as may be described in any restrictive covenants or zoning ordinances), (c) streets and roads, (d) 100-year flood plain (approximate location), (e) improvements, (f) encroachments, (g) easements, (h) recording information of recorded easements, (i) pavements, (j) protrusions, (k) fences, (1) rights-of-way, and (m) any markers or other visible evidence of utilities. Any area of the Property within the 100-year flood plain will be shown on the Survey as the approximate location of the 100-year flood plain as defined by the Federal Emergency Management Agency or other applicable governmental authority. If Buyer has an objection to items disclosed in the Commitment or the New Survey, then Buyer will be entitled to give Seller written notice of its objections for a period of ten (10) Business Days following the receipt of the New Survey. If Buyer gives timely written notice of its objections, then Seller may, but shall not have any obligation to, cure such objections for a period of five (5) days from the date Seller receives Buyer’s notice (“Seller’s Cure Period”). Seller shall utilize reasonable diligence to cure any errors in the Commitment, provided Seller shall not have any...

Title Approval. Prior to closing, Buyer shall be furnished with a title insurance commitment for the most current and comprehensive ALTA Owner's Title Insurance Policy available in the amount of the purchase price or an abstract of title continued to date, showing marketable title to Property in Seller's name. Seller must convey title free and clear of any encumbrances and title defects, with the exception of any mortgage assumed by ▇▇▇▇▇ and any restrictions or easements of record not materially interfering with ▇▇▇▇▇'s intended use of the Property. A title company, at Buyer's request, can provide information about availability of various additional title insurance coverages and endorsements and the associated costs. 227 Owner's Title Insurance Premium and that portion of Title Service Fees incurred to prepare the Owner's Policy 228 (including title search and examination and commitment preparation), to be paid by ▇▇▇▇▇ (included in 229 allowance, if provided) Seller Shared equally. 230 231 ▇▇▇▇▇▇'s Title Insurance Premium and that portion of Title Service Fees incurred to prepare the Lender's Policy 232 233 (including title search and examination and commitment preparation), if applicable, to be paid by Buyer (included in allowance, if provided) Seller Shared equally Other 234 . 235 The parties agree that Seller 236 will order the commitment immediately or other: 237 . 238 239 240 241 242 243 244 245 Pursuant to Federal and State law, Seller cannot make Seller's selection of a title insurance provider a condition of this Agreement. ▇▇▇▇▇▇ agrees to pay the cost of obtaining all other documents necessary to perfect title (including the cost of the deed and vendor's affidavit), so that marketable title can be conveyed.

Title Approval. Landlord has delivered to Tenant on the date of this Lease a Commitment for Title Insurance dated March 1, 1999 issued by ▇▇▇▇▇▇▇ Title Company, under G.F. Number 99110602 (the “Commitment”) and survey of the Premises updated as of March 10, 1999 and prepared by ▇.

Title Approval. The Title Insurance Policy shall confirm ▇▇▇▇▇’s title to be good and indefeasible subject to the promulgated exclusions (including existing building and zoning ordinances, if any) and any and all exceptions as stated in the Title Commitment provided by the Title Company and as stated therein (the “Permitted Exceptions”). Specifically, the restrictive covenants for the subdivision; the standard exception for standby fees, taxes and assessments as well as any exception for taxes for the current and subsequent years and subsequent assessments from prior years due to a change in land usage or ownership; any liens created as part of the financing described earlier in this Contract in Paragraph 4; all prior easements or any easement created by the deed or dedicated in the Plat or otherwise appearing in public records; all reservations or exceptions as shown on the Title Commitment or as otherwise permitted by the terms of this Contract or as may be approved by Buyer in writing; the standard printed exception as to marital rights; the standard printed exception as to waters, tidelands, beaches, streams, and related matters; the standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines, encroachments or protrusions, or any overlapping improvements (Buyer, at Buyer’s expense, may have the exception amended to read, “shortages in area.”); rights of parties in possession; all rules, regulations, ordinances, land planning and zoning ordinances and any other orders governing residential subdivisions, building and construction near and on the shores of a navigable stream/river as well as sanitation and waste disposal as require by the County, Texas Water Quality Board and the Texas Commission on Environmental Quality or other governmental agency having jurisdiction; any mineral reservations, Surface Use Agreements and Mineral Deeds reflected in the Official Public Records of the County; and any and all exceptions to the Property as stated in Schedule B of the Title Commitment shall be Permitted Exceptions to the deed. Upon receipt of the Title Commitment, ▇▇▇▇▇ may raise title objections to the Commitment within fifteen (15) days from the date of receipt. After the expiration of fifteen (15) days, any objections to the Title Commitment are waived. County requirements or ordinances and the Permitted Exceptions (the “Permitted Exceptions” are those in Paragraph 14A) shall not be valid objections to title. After the Buyer’s objections ...

Title Approval. Subject to the satisfaction of the Conditions (as defined in Section 2.1 of the Master Purchase Agreement), Escrow Holder shall deliver to Seller and Buyer by no later than ten (10) business days subsequent to the Opening of Escrow, a title report or title commitment on the Lot ("Title Commitment"). Buyer shall have the right to disapprove title to the Lot by delivering written notice to Seller and Escrow Holder no later than fifteen (15) business days from receipt of the Title Commitment, but only if the Title Commitment contains any title exception in addition to the Approved Exceptions, as defined in Section 4.1, and which

Title Approval. Prior to closing, Buyer shall be furnished an ALTA 98 Title Insurance Commitment (if available) or an ALTA 92 Title Insurance Commitment in the amount of purchase price or an abstract of title continued to date showing marketable title to the Property in Seller's name. The cost shall be paid by Buyer Seller shared equally Seller to pay owner's policy and Buyer to pay mortgage policy other . 170 Any encumbrances or defects in title must be removed and Seller must convey title free and clear of any encumbrances and title defects, 171 with the exception of any mortgage assumed by Buyer and any restrictions and easements of record which will not materially interfere 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 with Buyer's intended use of the Property. Seller shall order the commitment immediately after mortgage approval other . Seller agrees to pay the cost of obtaining all other documents necessary to perfect title (including the cost of the deed and vendors affidavit), so that marketable title can be conveyed. A title company, at Buyer's request, can provide information about availability, desirability, coverage, and cost of various title insurance coverages, gap and other endorsements. A. Buyer will assume and pay all taxes on the Property beginning with the taxes due and payable on , B. All taxes assessed for any prior calendar year and remaining unpaid shall be paid by Seller, and all taxes assessed for the current calendar year shall be prorated between Seller and Buyer on a calendar-year basis as of the day immediately prior to the Closing Date. 17. 18.