Property Documents Clause Samples
The Property Documents clause outlines the requirement for the seller to provide the buyer with all relevant documents related to the property being sold. This typically includes deeds, title reports, surveys, permits, and any other records that establish ownership or disclose the condition of the property. By ensuring the buyer receives these documents, the clause helps verify the seller's authority to sell and allows the buyer to assess any potential issues, thereby reducing the risk of disputes or surprises after the transaction.
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Property Documents. Lender shall have received the following documents with respect to the Property in form and substance acceptable to Lender:
(i) an Appraisal;
(ii) American Land Title Association Lender’s policy of title insurance or a commitment to issue such policy, from Chicago Title Insurance Company or another title company acceptable to Lender, in the amount of the Loan, insuring the Security Instrument as a first Lien subject only to Permitted Liens, with endorsements as required by Lender and to the extent available, and otherwise in form and substance acceptable to Lender and Lender’s counsel;
(iii) if required to obtain acceptable title insurance, a survey (or update of a survey) in the form described in Section 3.1(c);
(iv) an environmental audit for the Property, conducted by an environmental engineering firm acceptable to Lender, and satisfactory evidence that Borrower and the Property are in compliance in all material respects with all Environmental Laws the violation of which could have a Material Adverse Effect; and
(v) such other documents with respect to the Property as are listed in Section 3.1.
Property Documents. Prior to the execution of this Agreement, Seller has delivered to Buyer certain documents. After the Opening of Escrow, Buyer shall have the right to review at Seller’s offices in Costa Mesa or Perris during normal business hours upon reasonable advance notice, and to make copies of, all non-proprietary, non-confidential written materials and documents pertaining to the Property that are in Seller’s possession and control and which have not previously been delivered to Optionee, including, but not limited to, plans, drawings and specifications, environmental studies and reports, soils reports, geotechnical, engineering and architectural studies, surveys, maps, licenses, permits and approvals respecting the Property, (all such documents, together with those previously delivered by Seller to Buyer concerning the Property, the “Property Documents”). Buyer shall have until the end of the Property Inspection Period (as defined in Section 1(b)) to review the Property Documents and perform a feasibility study with respect to the Property which may include reasonable market and engineering studies, leasing and financial investigations, soils tests, drainage studies, confirmation that all utilities including water, electric, gas, sewer and telephone are available to the Property, environmental investigations, confirmation of zoning, and/or such other tests, studies or investigations with respect to the Property as Buyer deems appropriate. Seller shall allow reasonable access to the Property to Buyer and persons reasonably designated by Buyer, and shall afford them the opportunity to inspect and perform any tests upon the Property that Buyer deems necessary or appropriate to determine whether the Property is suitable for Buyer’s purposes; provided, however, that Buyer may not perform any invasive or subsurface testing on the Property without Seller’s prior written consent, which consent may be withheld in Seller’s reasonable discretion. Buyer shall promptly after receipt deliver to Seller a copy of all reports, assessments, tests, studies, surveys and appraisals obtained by Buyer with respect to the Property prior to the Closing. If Buyer, after conducting such inspections, investigations, and tests, determines that the Property or any part thereof or the Property Documents, are not in Buyer’s sole discretion satisfactory for any reason, then Buyer may elect, at any time on or prior to the end of the Property Inspection Period, to terminate this Agreement by written...
Property Documents. The Lender shall have received and approved in its sole discretion, the following:
Property Documents. Copies of all existing title policies/commitments, surveys, plans and specifications, permits and approvals and other similar documents which pertain to each Property which may be in the Seller's possession or under its control.
Property Documents. The Property Manager will pay all sums out of the applicable Operating Account from time to time due from each Owner Subsidiary and otherwise comply with the obligations of each Owner Subsidiary under any mortgages, deed of trust, leases, easements, restrictions, service contracts and other agreements now or hereafter affecting the Properties as instructed by the Company (the “Property Documents”).
Property Documents. Within ten (10) days after the effective date hereof, Seller shall make available to Buyer for review and copying the following documents pertaining to the Property but only to the extent such documents exist in Seller’s files (the “Property Documents”): Surveys, site plans, plats, leases; and environmental, structural or other engineering reports; and service contracts in effect on the Effective Date. BUYER ACKNOWLEDGES THAT BUYER, HAVING BEEN GIVEN THE OPPORTUNITY TO INSPECT THE PROPERTY, IS RELYING SOLELY ON ITS OWN INVESTIGATION OF THE PROPERTY AND NOT ON ANY INFORMATION PROVIDED OR TO BE PROVIDED BY SELLER. BUYER FURTHER ACKNOWLEDGES THAT NO INDEPENDENT INVESTIGATION OR VERIFICATION HAS BEEN OR WILL BE MADE BY SELLER WITH RESPECT TO ANY INFORMATION SUPPLIED BY SELLER CONCERNING THE PROPERTY, AND SELLER MAKES NO REPRESENTATION AS TO THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION, IT BEING INTENDED BY THE PARTIES THAT BUYER SHALL VERIFY THE ACCURACY AND COMPLETENESS OF SUCH INFORMATION ITSELF. BUYER ACKNOWLEDGES THAT THE DISCLAIMERS, AGREEMENTS AND OTHER STATEMENTS SET FORTH IN THIS PARAGRAPH ARE AN INTEGRAL PORTION OF THIS AGREEMENT AND THAT SELLER WOULD NOT AGREE TO SELL THE PROPERTY TO BUYER FOR THE PURCHASE PRICE WITHOUT THE DISCLAIMERS, AGREEMENTS AND OTHER STATEMENTS SET FORTH IN THIS PARAGRAPH, WHICH DISCLAIMERS, AGREEMENTS, AND OTHER STATEMENTS SHALL SPECIFICALLY SURVIVE THE CLOSING AND SHALL NOT MERGE THEREWITH. THE PROVISIONS OF THIS SECTION 3.03 ARE SUBJECT TO AND SHALL NOT INVALIDATE THE EXPRESS REPRESENTATIONS SET FORTH IN THIS AGREEMENT, IF ANY, OR IN THE CLOSING DOCUMENTS.
Property Documents. The term "Property Documents" shall mean the documents delivered by Seller to Buyer in connection with its feasibility studies pursuant to Section 4.1 of this Agreement. The Property Documents are listed in Exhibit B, attached hereto.
Property Documents. Seller hereby represents it has delivered to Buyer or otherwise made reasonably available to Buyer, the documents set forth in subsections (a) through (p) of this Section 3 (collectively, the “Property Documents”); provided, however, that Buyer acknowledges and agrees that it has, as of the date hereof, received, reviewed and approved each of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by ▇▇▇▇ Environmental Inc. and dated in February, March and April, 2003 (the “Site Assessments”) and the other Property Documents specified in Schedule 2 attached hereto (collectively, with the Site Assessments, the “Schedule 2 Documents”). Seller, with Buyer’s consent, has engaged directly third parties in connection with the preparation of all title reports, surveys and appraisals and that the scope of any such engagement has been approved by Buyer. Buyer has engaged all other third parties in connection with its acquisition of the Properties.
(a) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Company, setting forth the status of title to each Real Property, showing all matters of record affecting each Real Property, together with a true, complete and (to the extent available) legible copy of all documents referred to in each Title Commitment;
(b) Current ALTA Land Title “As Built” Survey (collectively, the “Surveys”; each individually, a “Survey”) for each Real Property, containing the certification set forth on Exhibit B, as the same may be required to be modified (subject to Buyer’s consent, which shall not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveys;
(c) [****]
(d) Evidence of insurance covering all Properties as required pursuant to the Master Lease Agreements, whose effective date shall be no later than the Closing Date;
(e) To the extent in Seller’s possession, a certificate of occupancy regarding each Real Property; [****] Redacted in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission)
(f) Profit and loss statements regarding each Property and such other financial statements and information as Buyer reasonably shall have requested regarding Seller or the Properties;
(g) [****];
(h) Any engineering reports (other than the Site Assessments) in Seller’s possession regarding the Real Properties, including without...
Property Documents. Within ten (10) days after the Effective Date, Seller shall provide Purchaser copies of all studies, environmental reports, surveys, soils reports, and other reports and studies relating to the Property that are in its possession or under its control (collectively, “Property Documents”). Notwithstanding the foregoing, the Seller shall have no obligation to cause any of the Property Documents to be created or produced if such document does not already exist.
Property Documents. Without limiting the other provisions of this Agreement and the other Loan Documents, Borrower shall (a) promptly perform and/or observe, in all material respects, all of the covenants and agreements required to be performed and observed by it under the Property Documents and do all things necessary to preserve and to keep unimpaired its material rights thereunder; (b) promptly notify Lender of any material default under the Property Documents of which it is aware; (c) promptly deliver to Lender a copy of each financial statement, business plan, capital expenditures plan, notice, report and estimate received by it under the Property Documents; (d) enforce the performance and observance of all of the covenants and agreements required to be performed and/or observed under the Property Documents in a commercially reasonable manner; (e) cause the Property to be operated, in all material respects, in accordance with the Property Documents; and (f) not, without the prior written consent of Lender, (i) enter into any new Property Document or replace or execute modifications to any existing Property Documents or renew or extend the same (exclusive of, in each case, any automatic renewal or extension in accordance with its terms), (ii) surrender, terminate or cancel the Property Documents, (iii) reduce or consent to the reduction of the term of the Property Documents, (iv) increase or consent to the increase of the amount of any charges under the Property Documents, (v) otherwise modify, change, supplement, alter or amend, or waive or release any of its rights and remedies under, the Property Documents in any material respect or (vi) following the occurrence and during the continuance of an Event of Default, exercise any rights, make any decisions, grant any approvals or otherwise take any action under the Property Documents.