Title Notices. (1) ABSTRACT OR TITLE POLICY: Broker advises Xxxxx to have an abstract of title covering the Property examined by an attorney of Xxxxx’s selection, or Buyer should be furnished with or obtain a Title Policy. If a Title Policy is furnished, the Commitment should be promptly reviewed by an attorney of Xxxxx’s choice due to the time limitations on Xxxxx’s right to object.
Title Notices. Within five (5) business days following the receipt by Buyer of the Title Commitment and the Exception Documents, Buyer shall notify Seller in writing (the “Buyer’s Title Notice”) as to which items, if any, disclosed in the Title Commitment are not acceptable to Buyer. Within five (5) business days following Seller’s receipt of Buyer’s Title Notice, Seller (with Limited Partner Consent) shall notify Buyer (“Seller’s Title Notice”) that, with respect to each matter objected to in Buyer’s Title Notice: (A) it shall take such actions as may be reasonably necessary to eliminate such matter as an exception in the Title Commitment; or (B) it shall not take any or all of the actions identified in Buyer’s Title Notice with respect to such matter. Except to the extent Seller’s Title Notice expressly states that Seller will take an action with respect to a matter identified in Buyer’s Title Notice (or if Seller fails to deliver Seller’s Title Notice within such five (5) business day period), then Seller shall be deemed to have elected clause (B) of this Paragraph 8(a)(ii).
Title Notices. TITLE POLICY The Title Commitment should be promptly reviewed by an attorney of Buyer’s choice due to the time limitations on Buyer’s right to object. ANNEXATION If the Property is located outside the limits of a municipality, Seller notifies Buyer under §5.011, Texas Property Code, that the Property may now or later be included in the extraterritorial jurisdiction of a municipality and may now or later be subject to annexation by the municipality. Each municipality maintains a map that depicts its boundaries and extraterritorial jurisdiction. To determine if the Property is located within a municipality’s extraterritorial jurisdiction or is likely to be located within a municipality’s extraterritorial jurisdiction, contact all municipalities located in the general proximity of the Property for further information.
Title Notices. (1) ABSTRACT OR TITLE POLICY: Broker advises Xxxxx to have an abstract of title covering the Property examined by an attorney of Xxxxx’s selection, or Buyer should be furnished with or obtain a Title Policy. If a Title Policy is furnished, the Commitment should be promptly reviewed by an attorney of Xxxxx’s choice due to the time limitations on Buyer’s right to object. (Address of Property) (2) MEMBERSHIP IN PROPERTY OWNERS ASSOCIATION(S): The Property is is not subject to mandatory membership in a property owners association(s). If the Property is subject to mandatory membership in a property owners association(s), Seller notifies Buyer under §5.012, Texas Property Code, that, as a purchaser of property in the residential community identified in Paragraph 2 in which the Property is located, you are obligated to be a member of the property owners association(s). Restrictive covenants governing the use and occupancy of the Property and all dedicatory instruments governing the establishment, maintenance, and operation of this residential community have been or will be recorded in the Real Property Records of the county in which the Property is located. Copies of the restrictive covenants and dedicatory instruments may be obtained from the county clerk. You are obligated to pay assessments to the property owners association(s). The amount of the assessments is subject to change. Your failure to pay the assessments could result in enforcement of the association’s lien on and the foreclosure of the Property. Section 207.003, Property Code, entitles an owner to receive copies of any document that governs the establishment, maintenance, or operation of a subdivision, including, but not limited to, restrictions, bylaws, rules and regulations, and a resale certificate from a property owners' association. A resale certificate contains information including, but not limited to, statements specifying the amount and frequency of regular assessments and the style and cause number of lawsuits to which the property owners' association is a party, other than lawsuits relating to unpaid ad valorem taxes of an individual member of the association. These documents must be made available to you by the property owners' association or the association's agent on your request. If Xxxxx is concerned about these matters, the TREC promulgated Addendum for Property Subject to Mandatory Membership in a Property Owners Association should be used. DRAFT
Title Notices. (1) ABSTRACT OR TITLE POLICY: Purchaser acknowledges that it has been advised that it should have an abstract of title covering the Property examined by an attorney of Purchaser’s selection, or Purchaser should be furnished with or obtain a Title Policy. If a Title Policy is furnished, the Commitment should be promptly reviewed by an attorney of Purchaser’s choice due to the time limitations on Purchaser’s right to object.
Title Notices. Buyer shall have the right, within twenty (20) days following receipt of the later of the Commitment and, if applicable, the Survey ("TITLE REVIEW PERIOD"), to object in writing to any liens or other exceptions reflected on the Commitment or the Survey. All liens and other exceptions to which Buyer so objects are herein after referred to as "DISAPPROVED EXCEPTIONS." If no written notice of Disapproved Exceptions is given by Buyer to Seller during the Title Review Period, then it shall be deemed that all matters reflected by the Commitment and, if applicable, the Survey are "PERMITTED EXCEPTIONS." Seller shall have the right, but not the obligation, at its sole cost, to elect to cure, release or remove, on or before Closing, any or all Disapproved Exceptions and to deliver to Buyer written notice of such election to cure within ten (10) days after the end of the Title Review Period ("SELLER'S ELECTION PERIOD"); provided however, Seller at its sole cost, shall be obligated to cure, release or remove, at or before closing, all mortgages, deeds of trust and other monetary encumbrances caused or acquiesced in by Seller whether or not Buyer objects thereto during the Title Review Period. If, prior to the expiration of Seller's Election Period, Seller does not provide Buyer with written notice of this election to cause all of the Disapproved Exceptions to be removed, released, or cured, on or before Closing, Buyer shall have the right to either (i) terminate this Agreement by delivering written notice to Seller before the expiration of the Feasibility Period, whereupon the Escrow Holder shall immediately return the Deposit to Buyer or (ii) elect to purchase the Property subject to the Disapproved Exceptions, other than the liens that Seller is obligated to cure or remove. If Buyer fails to give timely notice electing either (i) or (ii), Buyer shall be deemed to have elected alternative (ii).
Title Notices. Exception Document(s) is
Title Notices. Buyer is advised to have an abstract of title covering the Property examined by an attorney of Buyer’s choosing, or Buyer should obtain a Title Policy and have the Commitment reviewed by Buyer’s attorney.
Title Notices
