CURING TITLE DEFECTS Clause Samples

CURING TITLE DEFECTS. Seller shall have sixty (60) days ("Cure Period") from the receipt of the Title Objection Notice or the Survey Objection Notice to cure and remove Title Objections. Seller shall be obligated to and shall use diligent effort, including the bringing of necessary suits to cure and remove Title Objections that render title unmarketable by standards adopted under authority of the Florida Bar, under Florida Law (as modified by the terms of this Agreement) and the U.S. Department of Justice Standards and Regulations for the preparation of Title Evidence (1970) ("Marketability Defect"). Seller's obligation to cure Marketability Defects: (i) caused by the existence of Title Objections not created by or resulting from the act or omission of Seller; and (ii) affecting only those portions of the Property for which Seller has no title insurance policy insuring its interest, shall include the bringing of necessary suits but shall be limited to the expenditure of $150,000.00 in the aggregate for all such Title Objections. Seller shall not be obligated to remove any of the following interests in the Property held by third parties not affiliated, controlled or owned by Seller: canal, drainage and access easements, utility easements and reservations of interests in mineral rights in the Property; provided, however, the existence of such interest may be objected to by Buyer and, in such event, shall constitute a Title Objection which may be considered by Buyer in determining, during the Inspection Period, whether the Property is suitable for the Buyer's Intended Purposes. If Seller shall not have cured and removed all Title Objections which it is obligated to cure pursuant to this Paragraph by the end of the Cure Period or three (3) business days before December 31, 1998 (the "Outside Closing Date"), whichever occurs first, then with respect to the parcel(s) of the Property affected by the uncured Title Objection(s) which Seller is obligated to cure pursuant to this Paragraph (the "Defect Parcel(s)"), Buyer shall have the option of: (a) accepting title to the Defect Parcel(s) as it then is; or (b) designating the Defect Parcel(s) as a Deferred Parcel(s) and requiring Seller to continue to diligently pursue the cure of any Marketability Defect until the Proration Date (as defined in Paragraph 5.3 and thus extending the Cure Period for said amount of time and have Seller place an executed General Warranty Deed(s) (as hereinafter defined) in escrow with the Escrow Agent pursuan...

CURING TITLE DEFECTS. Vendor shall diligently make reasonable efforts to cure or remove all Title Defects of which Purchaser has timely notified Vendor. If such Title Defects can not be cured by Vendor to the satisfaction of Purchaser within thirty (30) days of such notice, then Purchaser has ten (10) days to elect in writing to terminate this Agreement under Clause 17.1 and in that event Purchaser shall be released from all obligations, other than those specified in Article 8. Failure to timely deliver such written election to Vendor is a waiver of said Title Defect.

CURING TITLE DEFECTS. Prior to the Closing Date, Vendor shall diligently make reasonable efforts to cure or remove all Title Defects of which Purchaser has notified Vendor.

CURING TITLE DEFECTS. Developer shall remove or cause to be removed of record or bonded or affirmatively insured or omitted as an exception to title by the Title Insurer, at or prior to Closing, any liens or encumbrances that can be removed by payment of a liquidated amount created or suffered by Developer against the School Unit, other than any lien or encumbrance consented to or occasioned (directly or indirectly) by SCA or that constitutes a Permitted Encumbrance. Developer shall have no other obligation to remove any liens, encumbrances or other title exceptions.

CURING TITLE DEFECTS. Notwithstanding anything contained herein to the contrary, the Seller (a) shall pay off and satisfy and obtain the release of any liens,

CURING TITLE DEFECTS. In the event that the condition of title of the Property as set forth in the Title Commitment is not acceptable to Buyer, and Buyer gives the Title Notice to Seller, Seller shall, within five (5) days after receipt of the Title Notice, notify Buyer in writing (the “Seller’s Title Notice”) as to which of the Title Defects, if any, Seller, at Seller’s sole cost and expense, will undertake promptly to eliminate to the reasonable satisfaction of Buyer. In the event Seller elects not to eliminate all such Title Defects to the reasonable satisfaction of Buyer, or if Seller fails to respond to Buyer within such five (5) day period, then, in any of such events, Buyer shall, at its option, within three (3) days after the earlier of (i) receipt of Seller’s Title Notice or (ii) expiration of the five (5) day period if Seller has failed to respond, elect in writing either to (a) proceed to the applicable Closing subject to the Title Defects which Seller has not agreed to cure, in which event said objections shall be deemed to be waived for all purposes, or (b) terminate this Agreement by giving notice thereof to Seller and the parties hereto shall thereafter be relieved of any and all further rights, liabilities and obligations under this Agreement except to the extent that any right, obligation or liability set forth herein expressly survives termination of this Agreement. If Buyer does not notify Seller of its election within such three (3) day period, Buyer shall be deemed to have waived its objections and shall proceed to the applicable Closing subject to the Title Defects which Seller has not agreed to cure.