Survey Defects Sample Clauses

Survey Defects. If Seller is obligated to provide the Survey and the Survey discloses any matters unacceptable to Buyer, Buyer shall so notify Seller in writing specifying the unacceptable matters within fifteen (15) days after the receipt of the Survey. If Buyer is allowed or permitted to obtain a Survey, or Seller fails to provide the Survey although obligated to do so, Buyer shall provide to Seller the notice of unacceptable matters not later than the later of fifteen (15) days following Xxxxx’s receipt of a new or updated Survey or the date that is thirty (30) days after the date Buyer was scheduled to receive the Survey from Seller. The notice shall state the basis for the objection in reasonable detail and the actions which, if taken by Seller, would cause Xxxxx’s objection to be eliminated. Within five (5) Business Days after Xxxxx’s notice, Seller shall inform Xxxxx whether it will cause such objections to be corrected and removed by the surveyor, or cause Title Insurer to commit to insure against loss or damage resulting from the objection. If Seller does not commit in writing within such five (5) Business Day period to cure such objection at Closing, Buyer, at its sole option, may: (i) terminate the PSA by written notice to Seller, in which event the Xxxxxxx Money Deposit shall be returned to Buyer and neither Party shall have any further rights, obligations, or liabilities except as expressly set forth in the PSA; or (ii) continue with the PSA, and if Closing occurs, accept title to the Property subject to such uncured matters. To the extent the provisions of this Addendum modify or conflict with any provisions of the PSA or any other prior Addenda or Counteroffer, the provisions of this Addendum shall control. All other provisions of the PSA and all other Addenda and Counteroffers not modified by this Addendum shall remain in full force and effect; provided, however, that to the extent the provisions of any Addendum conflict with the provisions of any other Addendum, the Addendum most recently executed by all of the parties will control. Buyer or Seller, as applicable, shall have until 5:00 P.M. Mountain Time on ____________ to accept or reject, and deliver this Addendum. (Signature of Authorized Signer) (Print Name of Authorized Signer) (Date) (Signature of Authorized Signer) (Print Name of Authorized Signer) (Date) ACCEPT / REJECTION / COUNTER OFFER CHECK ONE [ ] ACCEPTANCE: [ ] Seller [ ] Xxxxx ACCEPTS the foregoing ADDENDUM. [ ] COUNTER OFFER: [ ] Seller [...
Sample 1
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Survey Defects. 6.2.1. If the Survey reveals any of the following matters, they shall be deemed to be “Survey Defects” for purposes of this paragraph 6, except to the extent that any of them are Permitted Exceptions:
Sample 1
Survey Defects. Buyer shall have three (3) Business Days from the date of receiving the Survey to examine same. If the Survey shows any encroachment on the Land or that any Improvement located on the Land encroaches on the land of others or if the Survey shows any other defect which would affect the marketability of the Resort, Buyer shall notify Seller of such defect within three (3) Business Days after receipt of the Survey and such encroachment or defect shall be treated in the same manner as title defects are treated under this Contract.
Sample 1
Survey Defects. In the event the Title Commitment or Survey discloses either title exceptions which are not Permitted Exceptions ("Unpermitted Exceptions"), or any unpermitted encroachments over boundary lines, easements or building lines ("Survey Defects"), Purchaser shall have two (2) days from the date of delivery of the Title Commitment or Survey, as the case may be, to object to such Unpermitted Exceptions and/or Survey Defects by notifying Seller of such Unpermitted Exceptions or Survey Defects. If Purchaser objects to such Unpermitted Exceptions and/or Survey Defects within such two (2) day period, then Seller shall have three (3) days from the date of Purchaser's objection to have such Unpermitted Exceptions removed from the Title Commitment or to correct such Survey Defects or to have the Title Company commit to insure by its customary form of endorsement against loss or damage that may be occasioned by such Unpermitted Exceptions or Survey Defects. If Seller fails to have such Unpermitted Exceptions removed or such Survey Defects corrected, or in the alternative, to obtain the commitment for title insurance specified above as to such Unpermitted Exceptions or Survey Defects within such three (3) day period, then Purchaser shall elect, by notice to Seller within one (1) day after the expiration of the three (3) period, either: (i) to take title as it then is, or (ii) to terminate this Agreement. If Purchaser does not so elect within such time period, Purchaser shall be deemed to have elected (i) above and the parties shall proceed to Closing. The Closing Date shall be extended until five (5) days following expiration of any applicable time periods contained herein. Matters which are not objected to by Purchaser within the two (2) day period following the delivery of the Title Commitment or Survey, shall be deemed to be "Permitted Exceptions".
Sample 1
Survey Defects. If Transferee's survey shows any matter which would affect the marketability of title to the Land (except for the Permitted Exceptions and other title matters otherwise permitted hereunder), then Transferee shall notify Transferor in writing of the specific survey defect within five (5) Business Days after receipt of Transferee's survey, or but in no event later than prior to the expiration of the Inspection Period and thereafter such encroachment or defect shall be treated in the same manner as a Mandatory Additional Exception. Transferee's failure to deliver timely notice of survey defects shall be deemed a waiver of Transferee's right to object to survey matters as provided in this Section.
Sample 1
Survey Defects. Each party shall have fifteen (15) days from the date of receiving the Survey to examine same. If the Survey shows any encroachment on the Property, or that any improvement located on the Land encroaches on the land of others, or if the Survey shows any other defect which would affect either the title to the Property or the party’s intended use of the Property, the objecting party shall notify the other party of such defect within fifteen days after receipt of the Survey and such encroachment or defect shall be treated in the same manner as title defects are treated under this Agreement.
Sample 1
Survey Defects. If the Survey shows any matter which would affect the marketability of title to the Land (except for the Permitted Exceptions and other title matters otherwise permitted hereunder), Buyer shall promptly notify Seller in writing of the specific defect promptly after receipt of the Survey. The Survey defect shall be treated in the same manner as title defects are treated under this Contract. Buyer's failure to deliver timely notice of Survey defects shall be deemed a waiver of Buyer's right to object to Survey matters as provided in this Section.
Sample 1
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Related to Survey Defects

  • Title Defects If: (i) the Title Commitment reflects any exceptions to title which are not acceptable to Buyer, in Buyer’s sole discretion; (ii) the Survey discloses any state of fact not acceptable to Buyer, in Buyer’s sole discretion; or (iii) at any time prior to the Closing, title to the Property is encumbered by any exception to title not acceptable to Buyer, in Buyer’s sole discretion (with any such exception or unacceptable state of fact being referred to herein as a “Title Defect”); then Buyer may, on or before the Satisfaction Date (or, in the case of a Title Defect not disclosed by the Title Commitment prior to the Satisfaction Date, within fifteen (15) days after Buyer receives notice of such Title Defect), provide Seller with written notice of such Title Defect. Seller shall have the right, but not the obligation (except as specifically set forth below), during the thirty (30) day period after receipt of such notice, but not later than the Closing, to remove such Title Defect or obtain affirmative title insurance coverage acceptable to Buyer, insuring and defending Buyer against any loss, cost, or expense arising out of or related to such Title Defect (“Affirmative Coverage”). If Seller elects to do so, then on or before the Closing Date (as defined below), Seller shall provide Buyer with reasonable evidence of such removal or provide reasonable evidence that such Title Defect will be removed or that such Affirmative Coverage will be obtained. Notwithstanding anything contained herein to the contrary, Seller shall be obligated to expend whatever sums are required to cure or obtain Affirmative Coverage for the following Title Defects prior to, or at, the Closing:

  • Title Matters Seller agrees to share equally with Buyer the closing costs and the cost of a title insurance company's commitment for and policy of title insurance. Buyer shall pay for any lender’s/mortgagee’s/instrument holder’s title insurance coverage. The title insurance company will furnish a copy of the commitment for title insurance and copies of all of the exception documents referred to therein (hereafter collectively referred to as the “Title Commitment”) to Seller, Buyer, Buyer’s lender and the listing/selling broker as promptly as possible. The Title Commitment shall show a merchantable title vested in Seller, subject to easements, restrictions and protective covenants of record, right-of-way’s, setbacks, tenant rights, trees, fences, ordinances and regulations, unmatured and future assessments, restrictions and protective covenants of record, provided no forfeiture provisions as contained therein, encroachments and overlaps, zoning laws, ordinances and regulations, those exceptions which are standard to a policy of title insurance in the State of Kansas or as specified herein, and those matters attaching to the title by reason of Buyer taking title to the real property. Buyer shall have a period of five (5) days following receipt of the Title Commitment (the “Objection Period”) in which to examine the Title Commitment and advise Seller in writing of any objections ("Title Objections") the Buyer may have to Seller's title as shown in the Title Commitment. Seller shall then have a period of five (5) days in which to notify Buyer in writing of those Title Objections it elects to cure. In the event Seller elects to cure less than all of the Title Objections, Buyer shall have the right to terminate this Agreement by giving Seller written notice thereof within five (5) days of its receipt of Seller's notice, in which case the Xxxxxxx Money shall be returned to Buyer, and thereafter neither party shall have any further obligation hereunder. In the event Buyer does not terminate this Agreement, Seller shall have until Closing ("Cure Period") in which to cure the Title Objections the Seller has elected to cure, which the Buyer Agrees to extend for an additional 45 days in the event Seller has initiated a lawsuit to cure the title objection or objections. Title Objections may also be cured in accordance with applicable current titled standards in the Kansas Title Standards Handbook.

  • REMEDY OF DEFECTS (a) The BUILDER shall remedy, at its expense, any Defect against which the VESSEL is guaranteed under this Article, by making all necessary repairs or replacements at the Shipyard.

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