Survey and Title Documents Sample Clauses
The 'Survey and Title Documents' clause outlines the obligations and procedures related to providing, reviewing, and addressing issues with property surveys and title documentation in a real estate transaction. Typically, this clause specifies which party is responsible for obtaining a current survey and title report, the timeframe for delivery, and the process for raising objections to any defects or encumbrances discovered. Its core practical function is to ensure that both parties have clear, accurate information about the property's boundaries and legal status, thereby reducing the risk of disputes or unexpected claims after closing.
Survey and Title Documents. Prior to the Effective Date, Seller has delivered the following items to Buyer:
Survey and Title Documents. Upon execution of this Agreement, but prior to the expiration of the Review Period as defined herein, Buyer may commission an ALTA survey covering the Land and all improvements on the Land and otherwise in form sufficient to permit deletion of the survey exception from the Owner’s Policy (“Survey”) and Buyer shall obtain a preliminary title report or title commitment for the issuance of the Owner’s Policy (“Title Report”) together with legible copies of all title exception documents shown thereon (“Title Documents”). Buyer’s approval of exceptions to title and the Survey shall be a condition precedent to Buyer’s obligation to purchase the Properties. Within fourteen (14) days after receipt of the Survey, Title Report and Title Documents, and within five (5) days after any updates or supplements thereto, Buyer shall furnish to Seller a written list of any objections to matters shown on the Title Report or the Survey, stating the items to which Buyer objects and the reasons therefor (“Disapproval Notice”). Seller shall then have fourteen (14) days after the date of such Disapproval Notice to make such arrangements or take such steps to satisfy Buyer’s objection(s) or to notify Buyer that it cannot or will not correct such issue (“Title Cure Period”). If (i) Seller is unable to remove or correct such objection(s) within the Title Cure Period and (ii) Buyer does not waive, in writing, its disapproval, then this Agreement shall terminate, the Deposit (less any escrow cancellation charges) shall be returned to Buyer, and the parties shall have no further obligations to each other except for such provisions that specifically survive the termination of this Agreement. If Buyer fails to timely give the Disapproval Notice as set forth herein, the condition in this Paragraph 4.B shall be deemed satisfied, and Buyer shall be deemed to have accepted all matters contained in the Title Report and the Survey.
Survey and Title Documents. Prior to the Effective Date, Seller delivered to Buyer, at Seller's expense, a Preliminary Report dated December 4, 2014 prepared by Title Guaranty of Hawaii, Inc., covering the Leased Fee Interest and the Leasehold Interest (the "PTR"), together with access to copies of all documents of record and all exceptions to title referenced in the PTR to the extent reasonably obtainable by Seller.
Survey and Title Documents. During its Inspection Period (as defined below), Buyer shall obtain, and shall furnish a copy to Seller and to a title insurance company selected by Buyer (the "TITLE COMPANY") a survey of the Real Property prepared by a surveyor selected by Buyer (the "SURVEY"). During its Inspection Period, Buyer shall obtain, and shall furnish a copy to Seller of, a title insurance commitment covering the Real Property in favor of Buyer (the "TITLE COMMITMENT").
Survey and Title Documents. Seller shall provide Buyer with the following:
2.3.1 At Seller's expense, at least three business days prior to the Closing Date, an instrument survey of each parcel of Frozen Food Real Property. Such surveys shall be dated or redated subsequent to this Agreement and be from surveyors reasonably acceptable to Buyer, shall state that they were prepared using surveying standards acceptable to Buyer, shall contain legal descriptions of the property surveyed, and shall locate all improvements and easements thereon, as well as any easements beneficial to the parcel being surveyed. If any such survey discloses matters which could reasonably be expected to materially adversely affect the marketability of the property in question, the Seller shall obtain title insurance over such matters. Such surveys shall be certified both to Buyer and to the title insurance company issuing the Title Policy (defined below).
2.3.2 At Seller's expense, at least three business days prior to the Closing Date, a commitment (the "Title Commitment(s)") for an owner's policy of title insurance (the "Title Policy(s)") on each parcel of the Frozen Food Real Property prepared on the current American Land Title Association standard form of owner's title insurance to be issued by a national title insurance company acceptable to Buyer (the "Title Company") in an amount not less than the Insurance Value of the Frozen Food Real Property.
2.3.3 At Seller's expense, at least three business days prior to the Closing Date, UCC searches against the Seller in the appropriate offices of each state and locality in which any Assets are located.
Survey and Title Documents. Within three business days of the Effective Date, Seller shall deliver the following items to Buyer:
Survey and Title Documents. Prior to the Effective Date, Seller has made the following materials available to Buyer: (i)
Survey and Title Documents. ▇▇▇▇▇ acknowledges receipt of a preliminary title report from the Escrow Agent for the issuance of the Owner’s Policy (“Title Report”) together with legible copies of all title exception documents shown thereon (“Title Documents”).
Survey and Title Documents