Common use of Review of Title Commitment and Survey Clause in Contracts

Review of Title Commitment and Survey. Buyer shall have until the end of the Due Diligence Period provided for in Section 5.1 of this Agreement in which to notify Seller of any objections Buyer has to any matters shown or referred to in the Title Commitment or Survey and of any title insurance endorsements required by Buyer. Any exceptions or other items that are set forth in the Title Commitment or the Survey and to which Buyer does not object within the review period shall be deemed to be permitted exceptions (“Permitted Exceptions”). With regard to items to which Buyer does object within the review period, Seller shall notify Buyer within ten (10) days after Seller receives Buyer’s notice of objections of any exceptions to title or items on the survey which Seller is not able to remove or otherwise resolve and any endorsements that Seller is not able to provide following Buyer’s request within the review period, and Buyer may, at Buyer’s option, either waive the objections not cured or Buyer may terminate this Agreement by notice to Seller. Notwithstanding the foregoing, all monetary liens or encumbrances shall be paid by Seller at closing.

Review of Title Commitment and Survey. Buyer shall have until ( ) calendar days from the end date of the Due Diligence Period provided for in Section 5.1 mutual execution of this Agreement in which to notify Seller for review of any objections Buyer has to any matters shown or referred to in the Title Commitment or Survey and of any title insurance endorsements required by Buyer(the “Title Contingency Due Date”). Any exceptions or other items that are set forth in the Title Commitment or the Survey and to which Buyer does not object within the review period shall be deemed to be permitted exceptions (“Permitted Exceptions”). Buyer shall state any objection to the Permitted Exceptions to Seller, in writing, no later than the Title Contingency Due Date. With regard to items to which Buyer does object within the review periodTitle Contingency Due Date, Seller shall notify Buyer within ten (10) days after Seller receives Buyer’s notice of objections of any exceptions to title or items on the survey which Seller is not able to remove or otherwise resolve and any endorsements that Seller is not able to provide following Buyer’s request within the review 10 day response period, and Buyer may, at Buyer’s option, either waive the objections not cured or Buyer may terminate this Agreement by written notice to Seller. Notwithstanding the foregoing, all monetary liens or encumbrances shall be paid by Seller at closing.