Owner Policy Clause Samples

Owner Policy. Seller, at its sole cost and expense, also shall deliver or cause to be delivered, as soon as possible following the Closing, the Owner Policy.

Owner Policy. At Closing, the special warranty deed to the Land and Improvements referred to in Subparagraph 8(b)(i) hereof shall be recorded, and Seller shall furnish or cause to be furnished to Purchaser as soon as possible after Closing, at Seller's sole expense, the Owner Policy covering the Property, together with such endorsements as Purchaser may require, insuring good and indefeasible fee simple title to be vested in Purchaser and insuring Purchaser's title to the Property in an amount equal to the Purchase Price for the Property, subject only to the Permitted Title Exceptions and the standard printed exceptions, except that: (i) the exception relating to restrictions against the Property shall be endorsed by the Title Insurer to read "None of record" except for such restrictions as may be included in the Permitted Title Exceptions; (ii) the exception relating to discrepancies, conflicts, shortages in area, boundaries, encroachments, or overlaps shall be modified, at Seller's sole cost and expense, by deleting such exception and referencing only specific survey exceptions; and (iii) the exception relating to ad valorem taxes shall except only to taxes owing for the current year of Closing and subsequent years and subsequent assessments for prior years due to change in land usage or ownership, not yet due and payable.

Owner Policy. At the Closing, Purchaser must be able to obtain a standard ALTA form Owner Policy of Title Insurance (the “Owner Policy”) issued by the Title Company in Purchaser’s favor in the amount of the Purchase Price, insuring Purchaser’s fee simple title to the Real Property and the Improvements subject only to the Permitted Exceptions, together with such endorsements as Purchaser may request on or before the end of the Review Period.

Owner Policy. At the Closing, the Title Company will be committed to issue, at Seller’s sole cost and expense (except for any endorsements requested by Purchaser or Purchaser Parties, the cost of which will be paid by Purchaser), at the election of Purchaser either (a) one (1) 2021 extended ALTA form Owner’s Policy of Title Insurance with extended coverage and such endorsements requested by Purchaser (the “Owner Policy”), insuring all Property in a single aggregate Owner Policy, or (b) separate Owner Policies with respect to the Property associated with each separate Facility; in each case in the amount of the Purchase Price (or allocated Purchase Price per Property, if separate Owner Policies are requested by Purchaser), insuring Purchaser’s or a Purchaser Party’s fee simple title to the Property, subject only to the Permitted Exceptions.

Owner Policy. An Owner Policy of Title Insurance issued by the Title Insurer in the standard form promulgated by the Florida Department of Insurance, as modified pursuant to Paragraph 6(d) hereof.

Owner Policy respect and adhere to Owner’s safety and training polices relative to the Site and the Work.

Owner Policy. At the Closing, Purchaser must be able to obtain (for issuance in the ordinary course of the Title Company’s business after Closing), at Seller’s sole cost and expense for the base policy premium only, a standard ALTA Owner Policy of Title Insurance (the “Owner Policy”) issued by the Title Company in Purchaser’s favor in the amount of the Purchase Price, insuring Purchaser’s fee simple title to the Real Property and the Improvements subject only to the Permitted Exceptions and the standard printed exceptions shown in the Title Commitment (Purchaser may obtain such available endorsements and extended coverage as it may desire at Purchaser’s sole cost).

Owner Policy. At the Closing, the Title Company shall issue, at Seller’s cost, a standard Texas Form T-1 Owner Policy of Title Insurance (the “Owner Policy”) in Purchaser’s favor in the amount of the Purchase Price, insuring Purchaser’s fee simple title to the Real Property and the Improvements subject only to the Permitted Exceptions, together with the following endorsements requested by the Purchaser, such endorsements to be at Purchaser’s cost, if available in the State of Texas: T-19- Restrictions, Encroachments & Minerals; T-23- Access; T-25 Contiguity; Deletion of Arbitration; Limitation of the survey exception to shortages in area.

Owner Policy. It is the policy of the Owner that small businesses owned and controlled by socially and economically disadvantaged individuals referred to by Congress as DBEs will have a fair opportunity to compete for and participate in the performance of construction, architectural, engineering, and professional services contracts procured by Owner funded in whole or in part by the United States Department of Transportation (USDOT). The Design Professional will take all necessary and reasonable steps in accordance therewith to ensure that DBEs have a fair opportunity to compete for and perform subcontracts under this Contract.