Review of Title. Within ten (10) business days of the Effective Date, Seller will provide Buyer with a preliminary commitment for title insurance for the Property, together with complete and legible copies of all exceptions and encumbrances noted thereon (the “Preliminary Commitment”). Buyer shall have fifteen (15) days after receipt of the Preliminary Commitment and Survey to advise Seller in writing of any encumbrances, restrictions, easements or other matters (the “Exceptions”) to which Buyer objects. All Exceptions to which Buyer does not object in writing within the 15-day period shall be deemed accepted by Buyer. If Buyer objects to any Exceptions within the 15-day period, Seller shall advise Buyer in writing within five (5) days of receipt of Buyer’s written objections (a) which Exceptions Buyer will remove at Closing, (b) which Exceptions the title company has agreed to insure around in the title policy to be issued at Closing (together with the proposed form of endorsement) and (c) which Exceptions will not be removed or insured around. Within ten (10) days of receipt of Seller’s response to Buyer’s written objections, and assuming Seller has not agreed to remove all exceptions to which Buyer objects, Buyer shall notify Seller in writing of Buyer’s election to either (a) terminate this Agreement, in which event the Xxxxxxx Money shall be returned to Buyer, or (b) waive its objections to the Exceptions the title company has agreed to insure around and the Exceptions Seller will not remove or insure around, in which event such Exceptions shall be deemed accepted by Buyer. Notwithstanding the foregoing, Seller agrees to remove all financial encumbrances and liens at or prior to Closing, and if Seller fails to do so, Buyer may cause any remaining financial encumbrances and liens to be satisfied in full at Closing from the Purchase Price.
Review of Title. All matters shown in the Title Documents which are not objected to by CBL/OP by delivery of written notice thereof ("CBL/OP's Title Objection Notice") to Property Owner on or before the Title Objection Deadline shall be conclusively deemed to be accepted by CBL/OP. If CBL/OP timely delivers CBL/OP's Title Objection Notice to Property Owner prior to the Title Objection Deadline specifying CBL/OP's objection to any title exception pertaining to the Real Property shown in the Title Documents (each a "Title Objection" and collectively the "Title Objections"), Property Owner may, but except for Voluntary Title Encumbrances, shall not be obligated to, remove from the Title Policy or insure against (by title endorsement from the Title Company or otherwise) some or all of such Title Objections. If Property Owner is able and willing to remove or insure against some or all of the Title Objections, Property Owner shall notify CBL/OP in writing within 5 days after the Title Objection Deadline ("Property Owner's Notice Period") of those Title Objections which Property Owner intends to attempt to remove or insure against on or before the Closing Date (said notice hereinafter called "Property Owner's Title Notice"). Without the necessity of objection by CBL/OP, Property Owner shall comply with all of the requirements set forth in Schedule C of the Title Commitment. Except for Voluntary Title Encumbrances, Property Owner shall have no obligation whatsoever to remove or insure against any Title Objections. If Property Owner delivers Property Owner's Title Notice and thereafter Property Owner is unable to remove or insure against any Title Objection as indicated in Property Owner's Title Notice, Property Owner shall have no liability to CBL/OP and CBL/OP's sole remedy in such event shall be to either waive such Title Objections and proceed with the Closing or terminate this Agreement. If Property Owner does not deliver Property Owner's Title Notice to CBL/OP within Property Owner's Notice Period, Property Owner shall be deemed to have notified CBL/OP that Property Owner is unable or unwilling to remove or insure against the Title Objections. If Property Owner notifies or is deemed to have notified CBL/OP that Property Owner is unable or unwilling to remove or insure against any particular Title Objection, CBL/OP shall be deemed to have waived those Title Objections which Property Owner is unable or unwilling to remove or insure against unless on or before the later to occur...
Review of Title. The following statutory notice is provided to Buyer on behalf of the real estate licensees, if any, involved in this transaction: Xxxxx is advised that it should either have the abstract covering the Property examined by an attorney of Xxxxx’s own selection or be furnished with or obtain a policy of title insurance.
Review of Title. Buyer shall notify Seller in writing (the "Title Notice") not later than three (3) business days prior to the Expiration Date as to which exceptions to title as shown on the Title Report and Survey, if any, will not be accepted by Buyer. If Buyer fails to notify Seller in writing of its disapproval of any exceptions to title within such period of time, Buyer shall be deemed to have approved the condition of title to the Real Property. If Buyer notifies Seller in writing that Buyer objects to any exceptions to title, Seller shall have two (2) business days after receipt of the Title Notice (but, in no event, later than one (1) business day prior to the Expiration Date) to notify Buyer (a) that Seller will remove such objectionable exceptions from title on or before the Closing, provided that Seller may extend the Closing for such period as shall be required to effect such cure, but not beyond ten (10) days; or (b) that Seller elects not to cause such exceptions to be removed. If Seller fails to timely give such notice to Buyer, the Seller shall be deemed to have given notice to Buyer under clause (b). Seller shall have no obligation to remove any title exceptions to which Buyer objects; provided, however, that Seller shall be obligated to remove, as of the Closing, all liens evidencing any deed of trust (and related documents securing financing), all delinquent tax liens, all mechanic's liens relating to work performed by Seller, all judgment liens and encumbrances created by Seller violation of the provisions of Section 11.2
Review of Title. Prior to the Date of Agreement, the City has caused First American Title Insurance Company (the “Title Company”), to deliver to Developer a standard preliminary title report (the “Report”) with respect to title to the Site dated no more than ten (10) days prior to the Date of Agreement, together with legible copies of the documents underlying the exceptions (“Exceptions”) set forth in the Report. The Developer shall have the right to approve or disapprove the Exceptions in its sole discretion; provided, however, that the Developer hereby approves the following Exceptions: The Redevelopment Plan. The lien of any non-delinquent property taxes and assessments (to be prorated at close of Escrow). The provisions of the Grant Deed and Environmental Restriction. Developer shall have sixty (60) days from the later to occur of (i) the Effective Date, or (ii) the date of its receipt of the Report and legible copies of all Exceptions to give written notice to City and Escrow Holder of Developer’s approval or disapproval of any of such Exceptions. Developer shall have right to obtain, at its expense, an ALTA survey of the Site and to approve or disapprove the survey and all Exceptions to title shown on the survey. Developer’s failure to give written approval of the Report within such time limit shall be deemed disapproval of the Report. If Developer notifies City of its disapproval of any Exceptions in the Report, the City shall have thirty (30) days from the receipt of written notice of disapproval by the Developer to determine whether or not it will undertake the removal of any disapproved Exceptions. If the City elects to remove such Exceptions, it shall diligently proceed to effect the removal of such Exceptions. If City cannot or does not elect to remove any of the disapproved Exceptions within that period, Developer shall have thirty (30) days after the expiration of such thirty (30) day period to either give the City written notice that Developer elects to proceed with the purchase of the Site subject to the disapproved Exceptions or to give the City written notice that the Developer elects to terminate this Agreement. The Exceptions to title approved by Developer as provided herein shall hereinafter be referred to as the “Condition of Title.” Developer shall have the right to approve or disapprove any additional and previously unreported Exceptions reported by the Title Company after Developer has approved the Condition of Title for the Site (which are not cre...
Review of Title. Authority shall be responsible for obtaining a preliminary title report (“Title Report”) from First American Title Insurance Company or another title company mutually satisfactory to both parties (“Title Company”) with respect to the title to the Site. Developer and Authority each shall have the right to reasonably approve or disapprove the exceptions to title set forth in the Title Report (“Exceptions”); provided, however, that the following Exceptions are hereby approved by the parties:
Review of Title. Prior to the Date of Agreement, the City has caused First American Title Insurance Company (the “Title Company”), to deliver to Developer a standard preliminary title report (the “Report”) with respect to title to the Site dated no more than ten (10) days prior to the Date of Agreement, together with legible copies of the documents underlying the exceptions (“Exceptions”) set forth in the Report. The Developer shall have the right to approve or disapprove the Exceptions in its sole discretion; provided, however, that the Developer hereby approves the following Exceptions:
Review of Title. Prior to the Date of Agreement, Fidelity National Title Insurance Company (the “Title Company”) has delivered to Developer a standard preliminary title report (Order No. 989-30033317-C-SG4 dated September 4, 2019, and amended December 31, 2019) (the “Report”) with respect to title to the City Property (and identified in the Report as Parcels 1 and 4 (Parcels 2 and 3 therein identifying the Developer Parcels), together with legible copies of the documents underlying the exceptions (“Exceptions”) set forth in the Report. Developer shall have the right to approve or disapprove the Exceptions for the City Property in its sole discretion; provided, however, that Developer hereby approves the following Exceptions:
Review of Title. Buyer shall notify Seller within seven (7) days from the Effective Date of any item affecting title to which Buyer objects ("Title Defects"), separately specifying and setting forth each such objection. Except for such objections attributable to matters recorded subsequent to the effective date of the Title Insurance Commitment or endorsements thereto, any objections not raised by Buyer to Seller in writing within such seven (7) day period shall be deemed to have been waived by Buyer for all purposes thereof; and Buyer shall not be entitled to any other damages or other remedies with respect to such items.
Review of Title a. Buyer has conducted a review of the Owned Real Estate, Real Property Leases, Easements and Permits including licenses, to determine whether Sellers have good title thereunder and whether any consents or approvals are required for their assignment. At Buyer’s request, Sellers will provide Buyer with continuing access to Sellers’ right-of-way files covering the Owned Real Estate, Real Property Leases and Easements. If consents or approvals are required for assignment of any part of the Owned Real Estate, Real Property Leases, or Easements, Sellers shall, prior to Closing, obtain such consents and/or approvals, provided that (i) Buyer shall cooperate in obtaining any such consents and or approvals, at no expense to Buyer, and (ii) Buyer shall execute any reasonable documentation requested by the parties whose consent or approval may be required.
