Acceptable Title. Buyer shall order a title commitment with respect to the Premises from ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ▇▇, Esq., ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Email: ▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, as agent of First American Title Insurance Company (“Title Agent”), and if it so desires, a survey of the Premises. Seller shall convey and Buyer shall accept good and marketable title to the Premises in accordance with the terms of this Agreement, free and clear of all liens, encumbrances and other defects of title, subject only to the following (collectively, the "Permitted Encumbrances"): (a) those certain encumbrances or matters of record affecting the Premises referenced in Schedule B of the title commitment with respect to the Premises obtained by Buyer to which Buyer does not timely object on or before the Title Objection Deadline or to which ▇▇▇▇▇ has timely objected and subsequently waived its objection (whether expressly in writing or impliedly by electing to proceed to Closing and accepting a deed to the Premises pursuant to Section 4.2(b)); (b) any restriction or limitations imposed or to be imposed by governmental authority, including the zoning and planning rules and regulations of the City; (c) real property and other taxes which become due and payable after the date of the Closing, which taxes Buyer will assume and agree to pay, unless exempt, from and after the Closing; (d) encroachments of ledges, fences, ▇▇▇▇▇▇, ▇▇▇▇▇ walls and retaining walls projecting from the Premises over any street or highway or over any adjoining property and encroachments of similar elements projecting from adjoining property over the Premises, provided same do not interfere with the current use and enjoyment of the Improvements or the common areas of the Premises; (e) public improvement assessments and sewer connection charges, or other assessments and/or any unpaid installments thereof, which assessments and/or installments (or portions thereof) become due and payable after the date of the Closing, which assessments and/or installments Buyer will assume and agree to pay from and after the Closing; (f) state of facts shown by accurate survey and physical inspection of the Premises; (g) rights of tenants or parties in possession, if any; and (h) all rights of utility companies for the erection and/or maintenance of water, gas, electric, telephone, sewer or other utility pipes, line, poles, wires, conduits or other like facilities, and appurtenances thereto, over, across and under the Premises, as same exist of record as of the date hereof.
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Sources: Contract for Sale
Acceptable Title. Buyer shall order a title commitment with respect to the Premises from ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ▇▇, Esq., ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Email: ▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, as agent of First American Title Insurance Company (“Title Agent”), and if it so desires, a survey of the Premises. Seller shall convey and Buyer shall accept good and marketable title to the Premises in accordance with the terms of this Agreement, free and clear of all liens, encumbrances and other defects of title, subject only to the following (collectively, exceptions specified in Exhibit B and to the "Permitted Encumbrances"):following:
(a) those certain encumbrances or matters of record affecting the Premises referenced in Schedule B of the title commitment with respect to the Premises obtained by Buyer to which Buyer does not timely object on or before the Title Objection Deadline or to which ▇▇▇▇▇ has timely objected and subsequently waived its objection (whether expressly in writing or impliedly by electing to proceed to Closing and accepting a deed to the Premises pursuant to Section 4.2(b));
(b) any restriction or limitations imposed or to be imposed by governmental authority, including the zoning and planning rules and regulations of the CityTown but not violations thereof;
(cb) real property and other taxes which become due and payable after the date of the Closing, which taxes Buyer will assume and agree to pay, unless exempt, from and after pay as part of the Closingconsideration for the deed;
(d) encroachments of ledges, fences, ▇▇▇▇▇▇, ▇▇▇▇▇ walls and retaining walls projecting from the Premises over any street or highway or over any adjoining property and encroachments of similar elements projecting from adjoining property over the Premises, provided same do not interfere with the current use and enjoyment of the Improvements or the common areas of the Premises;
(ec) public improvement assessments and sewer connection charges, or other assessments and/or any unpaid installments thereof, which assessments and/or installments (or portions thereof) become due and payable after the date of the Closing, which assessments and/or installments Buyer will assume and agree to pay from and after as part of the Closingconsideration for the deed;
(fd) state of facts shown by accurate survey and physical inspection of the Premises;
; provided same does not render title unmarketable. Without limiting the foregoing, the state of facts shown on a survey entitled “ALTA/ACSM Land Title Survey for Oread Biosafety,” made by Coneco Engineers, last revised April 21, 2001 (g) rights of tenants or parties in possessionthe “Survey”), if anyshall be deemed not to render title unmarketable; and
(he) all rights A lis pendens (the “Lis Pendens”) that currently exists on the Premises in connection with that certain litigation entitled “Farmington Avenue Baptist Church v. Farmtech Corporation,” judicial district of utility companies for Hartford, Docket No. CV 04 0831477 (the erection and/or maintenance “Litigation”). The Lis Pendens shall be deemed not to render title unmarketable. Seller shall have no obligation to clear or remove the Lis Pendens from the Premises prior to final resolution of waterthe Litigation. The Litigation shall be conducted in accordance with the provisions of the Lis Pendens Escrow Agreement (as defined below). During the Contingency Period (as defined below) Buyer intends to approach the adjoining property owner that filed the Lis Pendens (the “Church”) in an effort to reach a settlement. In addition, gasat the Closing, electricSeller shall deposit $350,000.00 from the Purchase Price into an interest bearing escrow (the “Lis Pendens Escrow”), telephone, sewer to be held and disbursed by the Escrow Agent pursuant to an escrow agreement in the form attached hereto as Exhibit D (the “Lis Pendens Escrow Agreement”). In the event that the litigation is settled and the Lis Pendens is released or other utility pipes, line, poles, wires, conduits or other like facilities, and appurtenances thereto, over, across and under the Premises, as same exist terminated of record as of prior to the date hereofClosing Date, Seller shall not be required to deposit such funds into the Lis Pendens Escrow.
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Acceptable Title. Buyer shall order a title commitment with respect to the Premises from ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ▇▇, Esq., ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Email: ▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, as agent of First American Title Insurance Company (“Title Agent”), and if it so desires, a survey of the Premises. Seller shall convey and to Buyer shall accept at Closing good and marketable title to the Premises in accordance with the terms of this Agreement, free and clear of from all liens, encumbrances and other defects of titleencumbrances, subject only to the following (collectively, exceptions specified in Exhibit A and to the "Permitted Encumbrances"):following:
(a) those certain encumbrances or matters of record affecting the Premises referenced in Schedule B of the title commitment with respect to the Premises obtained by Buyer to which Buyer does not timely object on or before the Title Objection Deadline or to which ▇▇▇▇▇ has timely objected and subsequently waived its objection (whether expressly in writing or impliedly by electing to proceed to Closing and accepting a deed to the Premises pursuant to Section 4.2(b));
(b) any restriction restrictions or limitations imposed or to be imposed by governmental authority, including the zoning and planning rules and regulations of the CityUpper Macungie Township, PA;
(cb) real property and estate, or school or other taxes in the nature of a property tax, which become due and payable after the date of the Closing, which taxes Buyer will assume and agree to pay, unless exempt, from and after pay as part of the Closingconsideration for the Deed (as hereinafter defined);
(dc) encroachments of ledges, fences, ▇h▇▇▇▇▇, ▇s▇▇▇▇ walls and retaining walls projecting from the Premises over any street or highway or over any adjoining property and encroachments of similar elements projecting from adjoining property over the Premises, or other matters shown on the 2001 Survey, provided same do not interfere with the current use as of the Effective Date and enjoyment of the Improvements or Building and provided the common areas same are shown on an accurate ALTA/ACSM survey of the Premises;
(ed) public improvement assessments and sewer connection charges, or other assessments and/or any unpaid installments thereof, which assessments and/or installments (or portions thereof) become due and payable after the date of the Closing, which assessments and/or installments Buyer will assume and agree to pay from and after as part of the Closingconsideration for the Deed, subject to the provisions of this Agreement;
(fe) state of facts shown by accurate survey of the Premises, provided same does not reasonably interfere with the existing use and physical inspection enjoyment of the Premises;
(g) rights of tenants or parties in possession, if any; and
(hf) all rights of utility companies for the erection and/or maintenance of water, gas, electric, telephone, sewer or other utility pipes, line, poles, wires, conduits or other like facilities, and appurtenances thereto, over, across and under the Premises, as provided same exist do not reasonably interfere with the existing use and enjoyment of the Premises;
(g) restrictions and other matters appearing on any applicable plat or otherwise common to the applicable subdivision, if any;
(h) all easements, restrictions, agreements and other matters of record as provided same do not reasonably interfere with the existing use and enjoyment of the date hereofPremises; and
(i) the rights of others in and to the coal underneath the surface of the Land, their rights to remove all of such coal and their right of support underneath the surface of the Land.
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