Review of Title and Survey. Purchaser shall have until the expiration of the Inspection Period in which to notify Seller in writing (the "Title Objection Notice") of any objections Purchaser has to any matters shown or referred to in the Title Commitment, the Exception Documents or on the Survey; provided, that Purchaser shall not object to current real estate taxes and assessments or to easements, restrictions and exceptions affecting the Property which do not materially adversely affect the value of the Property or its current use by Seller, all of which shall be Permitted Exceptions hereunder. Any title encumbrances, exceptions or other matters which are set forth in the Title Commitment, the Exception Documents or on the Survey, and to which Purchaser does not object within the Inspection Period, shall be deemed to be permitted exceptions to the status of Seller's title (such encumbrances, exceptions or other matters, together with such other matters included pursuant to other provisions of this Contract, shall be referred to as the "Permitted Exceptions"). Other than liens securing the payment of the Existing Loan which will be assumed by Purchaser at Closing pursuant to the terms of this Contract, Seller shall, notwithstanding anything to the contrary contained herein, satisfy all liens securing the payment of a monetary obligation and affecting the Property at or prior to Closing, except for any liens or encumbrances expressly permitted in Section 4.5(c) and (d) hereof.
Review of Title and Survey. No later than ten (10) days after Buyer receives both the Title Binder and Survey, Buyer shall notify Seller of any objections Buyer has to any matters shown or referred to in the Title Binder or the Survey that impair the marketability of the Owned Property. Any title encumbrances or exceptions that are set forth in the Title Binder or the Survey and to which Buyer does not object shall be deemed to be permitted exceptions to the status of Seller's title ("Permitted Exceptions"). None of the exceptions prohibited in Section 5.31.1 hereof shall be Permitted Exceptions. With regard to items to which Buyer does object, Seller shall have five (5) days after receipt of Buyer's objections in which to cure all Buyer's objections. If Seller is unable to cure such objections within said five-day period, Buyer may at Buyer's option waive the objections not cured (in which event such waived objections will be Permitted Exceptions), or terminate this Agreement by notice to Seller within five (5) business days after the earlier to occur of expiration of said cure period or written notice from Seller that Seller is unable to cure all of such objections. If Buyer fails to deliver a written termination notice within such five-day period, Buyer will be deemed to have waived such objections.
Review of Title and Survey. Notwithstanding the expiration of either the Inspection Period or the Environmental Inspection Period, Purchaser shall have until five (5) business days after receipt of the last of the Title Commitment, Exception Documents, Existing Survey, and New Survey, if applicable, in which to notify Seller in writing (the "Title Objection Notice") of any objections Purchaser has to any matters shown or referred to in the Title Commitment, the Exception Documents, the Existing Survey or any New Survey; provided, that Purchaser shall not object to current real estate taxes and assessments which shall be Permitted Exceptions hereunder. Any title encumbrances, exceptions or other matters which are set forth in the Title Commitment, the Exception Documents, the Existing Survey or any New Survey, and to which Purchaser does not object within the aforementioned five (5) business day period, shall be deemed to be permitted exceptions to the status of Seller's title (such encumbrances, exceptions or other matters, together with such other matters included pursuant to other provisions of this Contract, shall be referred to as the "Permitted Exceptions").
Review of Title and Survey. Purchaser shall have until the end of the Inspection Period (as hereinafter defined) to notify Seller in writing of any objections Purchaser has to any matters affecting title to the Property, including any matters shown or referred to in the Title Commitment, the Exception Documents, or on the Survey. Any title encumbrances, exceptions or other matters which are either: (a) reported to the Title Company and insured over without exception on the Title Commitment or (b) set forth in the Title Commitment, the Exception Documents, or on the Survey; and to which Purchaser does not object in writing within the Inspection Period, shall be deemed to be permitted exceptions to the status of Seller's title (such encumbrances, exceptions or other matters, together with such other matters permitted pursuant to other provisions of this Contract, shall be referred to as the "Permitted Exceptions").
Review of Title and Survey. Purchaser shall have until fifteen (15) days after receipt of the last of the Title Commitment, Exception Documents, and Survey in which to notify Seller in writing (the "Title Objection Notice") of any objections Purchaser has to any matters shown or referred to in the Title Commitment, the Exception Documents or on the Survey; provided, that Purchaser shall not object to current real estate taxes and assessments or to easements, restrictions and exceptions affecting the Property which do not materially and adversely affect the value of the Property or its current use by Seller, all of which shall be Permitted Exceptions hereunder. Any title encumbrances, exceptions or other matters which are set forth in the Title Commitment, the Exception Documents or on the Survey, and to which Purchaser does not object within the aforementioned ten (10) day period, shall be deemed to be permitted exceptions to the status of Seller's title (such encumbrances, exceptions or other matters, together with such other matters included pursuant to other provisions of this Contract, shall be referred to as the "Permitted Exceptions").
Review of Title and Survey. 4.4.1 If the Title Commitment and/or Survey Update shows matters objectionable to Purchaser, and Sellers have received written notice of such objectionable matters (collectively, “Title Objections”) from Purchaser on or before the date which is five (5) Business Days prior to the expiration of the Inspection Period, Sellers shall deliver to Purchaser a written notice of Sellers’ election to cure any of the Title Objections referenced in Purchaser’s notice three (3) Business Days after Sellers’ receipt of such notice. Failure to deliver such response shall be deemed Sellers’ election not to cure any of the Title Objections referenced therein. If Sellers elect to cure any of such Title Objections, Sellers shall have until the earlier to occur of (i) the date that is thirty (30) days after receipt of such notice or (ii) the Closing Date to cure any such Title Objections. Title Objections will not be deemed to include those matters which (1) are affirmatively insured against by the Title Company without indemnification from Sellers in a manner acceptable to Purchaser in its reasonable discretion; or (2) will be discharged or removed by Sellers at or prior to Closing. Failure to timely notify Sellers of Title Objections shall be deemed a waiver by Purchaser of Purchaser’s right to disapprove any of the matters referenced in the Title Commitment, and Purchaser shall then accept such title as is described in the Title Commitment without reduction of the Purchase Price or reservation of any claim against Seller. Except as expressly set forth herein, Sellers shall have no obligation to remove Title Objections, and any failure or refusal of Sellers to do so shall not be a default of Sellers hereunder. If Sellers elect or are deemed to have elected not to attempt to cure or remove one or more of the Title Objections, Purchaser’s sole and exclusive remedy shall be to either (i) terminate this Contract in accordance with Section 3.3 and receive a return of the Deposit, or (ii) accept such title subject to such Title Objections without reduction in the Purchase Price or reservation of any claim against Sellers and to close hereunder, subject, however, to Sellers’ performance of all of the other terms, conditions and covenants of this Agreement to be performed by Sellers hereunder.
Review of Title and Survey. Buyer shall have a period (the "REVIEW PERIOD") ending five (5) days after the date on which Buyer receives the last to be received of the following: (i) the Title Commitment, (ii) copies of all instruments referred to in the Title Commitment which affect title to the Owned Real Property and (iii) the Survey required in paragraph (b) above, in which to notify Seller of any objections Buyer has to any matter shown or referred to on the Survey or in the Title Commitment which are reasonably unacceptable to Buyer. Any matters to which Buyer does not object by written notice delivered to Seller prior to the end of the Review Period, as well as utility easements and other easements, rights of way, covenants, reservations and restrictions of record which, individually or in the aggregate, do not
Review of Title and Survey. Purchaser shall have until ten (10) days after receipt of the last of the Title Commitment, Exception Documents, and Survey in which to notify Seller in writing (the "Title Objection Notice") of any objections Purchaser has to any matters shown or referred to in the Title Commitment, the Exception Documents or on the Survey. Any title encumbrances, exceptions or other matters which are set forth in the Title Commitment, the Exception Documents or on the Survey, and to which Purchaser does not object within the aforementioned ten (10) day period, shall be deemed to be permitted exceptions to the status of Seller's title (such encumbrances, exceptions or other matters, together with such other matters included pursuant to other provisions of this Contract, shall be referred to as the "Permitted Exceptions").
Review of Title and Survey. Purchaser shall have until twenty (20) days after the Effective Date in which to notify Seller in writing (the "Title referredntooincthe TitleyCommitment, thecException DocumentstorronsthenSurvey; provided, that Purchaser shall not object to current real estate taxes and assessments or to easements, restrictions and exceptions affecting the Property which do not adversely affect the value of the Property or its current use by Seller, all of which shall be Permitted Exceptions hereunder. Any title encumbrances, exceptions or other matters which are set forth in the Title Commitment, the Exception Documents or on the Survey, and to which Purchaser does not object within the aforementioned ten (10) day period, shall be deemed to be permitted exceptions to the status of Seller's title (such encumbrances, exceptions or other matters, together with such other matters included pursuant to other provisions of this Contract, shall be referred to as the "Permitted Exceptions").
Review of Title and Survey. Purchaser shall have a period (the "Review Period") ending thirty (30) days after the Effective Date but no later than September 25, 2005, in which to notify Seller of any objections Purchaser has to any matters shown or referred to in the Title Commitment or the Survey other than those Permitted Exceptions set forth on Exhibit "B" hereto failing which Purchaser waives its right to raise such objections and title shall be deemed satisfactory. In the event Purchaser notifies Seller of any unacceptable exceptions or conditions, Seller shall have five (5) days thereafter in which to notify Purchaser whether Seller will eliminate or modify such Unacceptable Condition(s) or conditions. In the event Seller does not respond within such 15-day period, Seller will be deemed to have declined to eliminate or modify such Unacceptable Condition(s). If Seller does not opt to eliminate or modify such condition, Purchaser may (i) waive such Unacceptable Condition(s) and proceed to Closing; (ii) terminate this Agreement (subject to Section 17); or attempt to resolve the Unacceptable Condition(s) at Purchaser’s sole cost and expense, with Seller’s cooperation provided Seller shall not be required to incur any costs.
