Monetary Liens. Purchaser shall not be required to give notice of objection to (i) any liens securing any other mortgage or deed of trust financing, or (ii) any other mechanics’ liens or materialmens’ liens arising from any work or improvements at the Property ordered or authorized by Seller that encumber the Property on a given Phase Closing Date (excluding any liens or claims arising from Purchaser’s due diligence reviews, development or inspections hereunder) (“Monetary Liens”), and Seller shall have the obligation to remove any Monetary Liens that have been caused by Seller prior to or a given Phase Closing.
Appears in 2 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement