Preliminary Title Report. (a) Within two (2) days following the Opening of Escrow, Seller shall provide Buyer a copy of its existing title insurance policy, exception documents and survey, and within twelve (12) days following the Opening of Escrow, Buyer will have prepared a Preliminary Title Report/Commitment for owners title insurance for the Property showing all liens, encumbrances and other matters affecting the title to the Property (the “Title Report”) and will provide a copy thereof together with legible copies of the documents shown as title exceptions or requirements therein to Seller. Buyer shall have ten (10) days following receipt of the Title Report to object, in Buyer’s sole and absolute discretion, to any other items contained in the Title Report. Buyer shall have until the end of the Review Period to object to any items contained in the Survey (as that term is defined in Section 3.2). Should Buyer object to any provisions contained therein, Seller shall, within five (5) days of the receipt of any such objections, advise Buyer of which title objections it will cure. Thereafter, prior to the later of five (5) days following (x) the expiration of the Review Period or (y) receipt of Seller’s title response notice, Buyer may either: (i) reject the Title Report and the Survey, in which case this Agreement is terminated, the parties will have no further rights or obligations hereunder (except those which specifically survive the termination of this Agreement) and the Initial Deposit shall be immediately refunded to Buyer without further instruction; or (ii) Buyer can choose to accept the Title Report and Survey by the placement of the Additional Deposit, which signifies acceptance of the Title Report and Survey. Any cure of title objections which Seller has elected to undertake shall be completed no later than five (5) days prior to the Closing Date. If such cure has not been completed by such time, Buyer may at such time either: (i) reject the Title Report and the Survey, in which case this Agreement is terminated, the parties will have no further rights or obligations hereunder (except those which specifically survive the termination of this Agreement) and the Xxxxxxx Money Deposit shall be immediately refunded to Buyer without further instruction; or (ii) Buyer can choose to accept the Title Report and Survey.
Preliminary Title Report. Within ten (10) business days of Opening of Escrow, Title Company 33 shall provide Buyer with a Preliminary Title Report ("PTR") to review, which must be approved or rejected within five (5) 34 business days of receipt thereof. If Buyer does not object to the PTR within the period specified above, the PTR shall be deemed 35 accepted. If Buyer makes an objection to any item(s) contained within the PTR, Seller shall have five (5) business days after 36 receipt of objections to correct or address the objections. If, within the time specified, Seller fails to have each such 37 exception removed or to correct each such other matter as aforesaid, Buyer shall have the option to: (a) terminate this 38 Agreement by providing notice to Seller and Escrow Officer, entitling Buyer to a refund of the EMD or (b) elect to accept title to 39 the Property as is. All title exceptions approved or deemed accepted are hereafter collectively referred to as the "Permitted 40 Exceptions." 41
Preliminary Title Report. A current preliminary title report covering the Real Property issued by the Title Company, together with copies of all documents referred to as exceptions therein (collectively, the "TITLE REPORT").
Preliminary Title Report. Purchaser, at Purchaser’s sole cost and expense, shall cause the Title Company to issue and deliver to Purchaser a title commitment, update or abstract issued by the Title Company, accompanied by a legible copy of all recorded documents affecting the title to the Property and which would constitute encumbrances, restrictions, reservations or easements against the Property at the Closing (collectively, the “Title Commitment”). Within twenty (20) days after the Effective Date, Purchaser shall deliver written notice to Seller if the condition of title to the Property as set forth in Title Commitment [***] described in Section 2.02 below is not satisfactory to Purchaser (such notice being called the “Objection Notice”). Within seven (7) days of Seller’s receipt of the Objection Notice, Seller shall respond to Purchaser in writing (the “Seller’s Reply”) whether or not Seller will attempt to or can cure the unsatisfactory conditions to title. If Seller agrees to cure the unsatisfactory condition of title, such cure shall occur, if possible, prior to the Closing Date. However, if Seller is unwilling or unable to cure Purchaser’s objections as indicated in Seller’s Reply, then Purchaser, within seven (7) days of the receipt of Seller’s Reply, may elect to either (a) terminate this Agreement and receive a refund of the Escrow Deposit, or (b) proceed with the Closing without any reduction in the Purchase Price.
Preliminary Title Report. Borrower shall have provided Lender and Lender shall have approved, a preliminary title report for each Existing Project, prepared by the Title Company, together with a legible copy of each “Schedule B” item.
Preliminary Title Report. The Preliminary Title Report is available from the Agent and Premiere Estates website. The Buyer’s review and approval, during the escrow period, of the preliminary title report and other matters of record, not of record or which might be revealed by a survey or inspection of the Property will not be a contingency or condition for the completion of the purchase of the Property after the Buyer’s execution of the Purchase Contract.
Preliminary Title Report. Within five (5) days after the Effective Date, Seller shall deliver, or cause to be delivered, to Buyer a preliminary title report (the “PTR”) for an ALTA extended coverage owner’s policy of title insurance from the Title Company specified in Section 1.8 (the “Title Company”), in a form reasonably acceptable to Buyer, for the Real Property, and copies of all documents relating to the title exceptions referred to in such PTR.
Preliminary Title Report. Prior to the execution of this Agreement, Seller has caused to be furnished to Buyer, at Buyer's expense, a Preliminary Title Report (the "PTR") dated as of December 3, 1997, from Chicago Title Company with respect to the Real Property, together with copies of all documents pertaining to all exceptions, including, but not limited to, covenants, conditions, restrictions, reservations, easements, rights-of-way of record, liens and other matters of record. Buyer hereby approves the exceptions identified therein.
Preliminary Title Report. Within twenty-one (21) days after execution of this Lease by Landlord and Tenant, Landlord, at Landlord's expense, shall cause a title insurance company mutually acceptable to the parties through JOHNSON, BLAKELY, POPE, BOKOR, RUPPXX & XURNX, X.A., its agent ("Title Company") to issue and deliver to Tenant and A.L.T.A. Form B owner's title commitment ("Title Commitment") accompanied by one copy of all documents affecting the Property, and which constitute exceptions to the Title Commitment. Tenant shall give Landlord written notice on or before the expiration of the later of (i) fifteen (15) days after Tenant's receipt of the Title Commitment or (ii) fifteen (15) days after Tenant's receipt of the survey provided for below, that the condition of title as set forth in the Title Commitment and survey is or is not satisfactory, in Tenant's reasonable judgment. Any condition, defect or other circumstance which renders title unmarketable of record shall be sufficient grounds for Tenant to reasonably object to the condition of title. In the event that the condition of title is not acceptable, Tenant shall state which exceptions to the Title Commitment are unacceptable and Landlord shall undertake to eliminate such exceptions as set forth below; provided, however, that at Closing, mortgages may be satisfied or the liens thereof partially released as the case may be, as to the Property. Landlord shall, at his sole cost and expense not to exceed $1,000.00, promptly undertake and use due diligence to eliminate or modify all unacceptable matters to the reasonable satisfaction of Tenant, but in no event shall Landlord be required to file suit. In the event Landlord is unable with the exercise of due diligence to satisfy the objections within ninety (90) days after the notice, Tenant may, at its option, (i) accept title subject to the objections raised by Tenant, without an adjustment in the Lease rent or Purchase Price, in which event the objections shall be deemed to be waived for all purposes, or (ii) terminate this Lease and rescind this Option and this Agreement shall be of no further force and effect. Notwithstanding any of the provisions of this Section 42.1 to the contrary, if Tenant fails timely to notify Landlord that the condition of title as set forth in the Title Commitment and survey is or is not acceptable, the parties agree that the condition of title shall be deemed acceptable.
Preliminary Title Report. Within ten (10) days after full execution of this Agreement, Seller shall furnish to Buyer at Seller’s expense a preliminary title report issued by Chicago Title Insurance Company with an address of 000 XX Xxxxx Xxxxxx, Xxxxx 000, Xxxxxxxx, Xxxxxx 00000 (the “Title Company”) showing the condition of title to the Property (the “Title Report”). The Title Report shall include copies of all title exceptions. Buyer shall have ten (10) days from its receipt of the Title Report to review the Title Report and ten (10) days from receipt of the partition plat to review the partition plat and in each case send Seller written notice rejecting any items reflected in the Title Report or on the partition plat, as the case may be. If Buyer rejects any item, Seller shall have five (5) days thereafter to determine whether it is willing and able to remove the exceptions, and to deliver to Buyer an amended Title Report or other satisfactory written evidence of the removal of such exception from the Title Report or agree to have any item on the partition plat removed. Those exceptions approved by Buyer and all Leases in respect to which Estoppel Certificates consistent with Section 5.2 have been issued are hereinafter referred to as the “Permitted Exceptions.” If Seller fails within that period to remove or agree to remove any exception to which Buyer has objected, Buyer may terminate this Agreement by written notice to Seller, and the Xxxxxxx Money shall then be returned to Buyer. Notwithstanding the foregoing, Seller shall be obligated to satisfy, on or before the Closing Date (as defined in Section 5.1 below), any exception created, or suffered to be created by Seller that is security for payment of a sum of money (including mortgages, trust deeds, contractor’s liens and judgment liens).
