Commitment to Insure Clause Samples

Commitment to Insure. Within one (1) business day after the Effective Date, Seller shall deliver to Buyer a copy of Seller’s Owner’s Policy issued by First American Title Insurance Company effective January 2, 2009. Buyer shall promptly order a commitment from the Title Company (the “Title Commitment”) to provide a standard owner’s title insurance policy for the Property in an amount equal to the Purchase Price, together with copies of all instruments identified as exceptions therein. Within one (1) business day after the Effective Date, Seller shall deliver to Buyer a copy of that certain ALTA/ACSM Land Title Survey of the Property last updated December 18, 2008 (the “Existing Survey”). Buyer, at its option and expense, may obtain a new survey, or an update of the Existing Survey of the Real Property (the “Survey”).

Commitment to Insure. Within three (3) business days after the Effective Date, Seller shall deliver to Buyer a copy of Seller’s Owner’s Policy and Buyer shall promptly order a commitment from the Title Company (the “Title Commitment”) to provide a standard owner’s title insurance policy for the Property in an amount equal to the Purchase Price (the “Title Policy”); and (ii) Seller shall deliver to Buyer a copy of the most recent ALTA/ACSM Land Title Survey of the Property in its possession, if any (the “Existing Survey”). Buyer, at its option and expense, may obtain a new survey, or an update of the Existing Survey of the Real Property (the “Survey”). In the event of a Closing, Seller shall reimburse Buyer in an amount not to exceed $7,500.00 for the cost of said Survey by a deduction from Seller's proceeds at Closing.

Commitment to Insure. Within one (1) business day after the date of this Agreement, Buyer shall order a commitment to insure with respect to the Real Property from the Title Company, such commitment to show that title to Seller's leasehold interest in the Real Property is vested in Seller, and to commit to insure title to the Real Property as required by Section 5(a). If the commitment to insure discloses that title to the Real Property is subject to any defect, encumbrance or other title objection other than the Permitted Encumbrances, or if Buyer is unable to obtain such commitment to insure, Buyer shall have the right to give to Seller written notice specifying such defect, encumbrance or other title objection, or inability to obtain such commitment to insure, and Seller shall (subject to the remaining provisions of this subparagraph) use its diligent efforts to correct such defect, encumbrance or other title objection and obtain the commitment to insure from a reputable title insurance company acceptable to Buyer, all by the date which is ten (10) days following Buyer's notice specifying the defect. Notwithstanding anything in this Section 5(c) to the contrary, Seller shall not be deemed to have any obligation to correct any defect, encumbrance or other title objection or to obtain the commitment, unless Seller expressly undertakes such an obligation by a written notice to or written notice agreement with Buyer given or entered into on or prior to the expiration of such 10-day period, except at Closing, Seller shall be obligated to cure, satisfy and remove any liens securing a monetary obligation created by Seller and to pay any past due taxes and assessments against the Property and the same shall not constitute Permitted Encumbrances. Buyer's sole right with respect to any matter to which Buyer objects in a timely manner shall be to elect on or before the expiration of the Inspection Period to terminate this Agreement pursuant to Section 14(c) hereof.

Commitment to Insure. Within five (5) days after the Effective Date, Seller shall deliver to Buyer a commitment from the Title Company (the “Title Commitment”) to provide at Closing a standard owner’s title insurance policy for the Property in an amount equal to the Purchase Price (the “Title Policy”), together with copies of all instruments identified as exceptions therein. The cost of the Title Policy shall be prorated as set forth in Section 8(h) below. Additionally, Buyer hereby acknowledges and confirms that Buyer has heretofore received from Seller a copy of the most recent ALTA/ACSM survey of the Property in Seller’s possession, dated as of December 5, 2007 and prepared by ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, R.P.L.S. No. 4402 on behalf of ▇▇▇▇-▇▇▇▇▇▇ Engineers, Inc., Job No. 9439-07 (the “Existing Survey”). Buyer, at its option and expense, may obtain a new survey, or an update of the Existing Survey of the Real Property (the “Survey”).

Commitment to Insure. Within twenty (20) days after the date of this Agreement, Buyer, At Buyer's sole cost and expense, shall order a commitment to insure with respect to the Premises for the Title Insurance Company, such commitment to certify that fee simple title to the Premises is vested in Seller, and to commit to insure title to the Premises.

Commitment to Insure. Subject to the terms and conditions of the Master Policy issued to WAMU by Radian and this letter, and in specific reliance upon the representations and warranties of WAMU set forth in Section 4 below, Radian agrees to insure each of the Covered Loans in the Portfolio up to the Loss amount for such Covered Loan, subject to an aggregate principal balance of $117,000,000. Notwithstanding anything to the contrary contained herein, Radian shall not be liable for and this MI policy shall not apply to, extend to or cover any individual loan that is no longer represented by the Security. For the purposes of determining whether or not a Covered Loan is represented by the Security, the Company reserves the right to rely on any servicer or trustee report received related to the Security. If, without the prior written consent of Radian, which consent shall not be unreasonably withheld, any individual Covered Loan is removed from the Portfolio by the Trustee or WaMu other than due to the conditions listed in Condition Four of the Master Policy (as expressly amended by Section 3 below), or due to any repurchase or other obligations under the Pooling and Servicing Agreement (the “PSA”), coverage under this MI policy will cancel for all loans listed on Exhibit A.