Common use of Real Property Title Matters Clause in Contracts

Real Property Title Matters. (a) Purchaser shall have received a pro forma A.L.T.A. extended Owner’s Title Policy with respect to each parcel of the Real Property (collectively, the “Title Policies”) issued to Purchaser covering the Real Property in the amount of the full insurable value of such parcel of the Real Property, and which contains such endorsements as are customary and reasonable in the counties where such parcel of the Real Property is located and no exceptions other than the Permitted Encumbrances, and which is reasonably satisfactory to Purchaser in all respects. (b) Sellers shall have delivered full and complete releases in recordable form of the Liens listed in Schedule 7.8(b) (or a commitment from such lenders to deliver releases upon receipt of payment in full of the debt secured), and Sellers shall have satisfied or complied with all of the requirements and other matters set forth in Schedule B-Sections 1 and 2 of the Title Commitments which are identified to be satisfied or complied with by any Seller.