Survey Title Commitment Sample Clauses

Survey Title Commitment. (a) Purchaser acknowledges that it has received a copy of the Existing Survey and agrees that title to the Property shall be conveyed at Closing subject to all matters shown on the Existing Survey. Purchaser also acknowledges that it has ordered for the Real Property: (i) from the Title Company (A) a title report (together with any amendment thereto, the “Title Commitment”), and (B) complete and legible copies of all recorded documents identified as exceptions in Schedule B of the Title Commitment ("Title Exception Documents") ; and (ii) an updated survey with respect to the Real Property (together with any amendment thereto, the "Survey Update") (b) Promptly upon receipt by Purchaser, true and correct copies of the Title Commitment and Survey Update shall be furnished to Seller. (c) The Title Commitment will include the Title Company's requirements for issuing an ALTA 1992 form owner’s and lender’s title policy (the “Title Policy”). (d) On or before April 5, 2014 (the “Initial Objection Date”), Purchaser shall provide Seller with written notice specifying any objection to any exception set forth in the Title Commitment and/or the Survey Update (any such exception, an “Initial Title Objection” and all such exceptions collectively, the “Initial Title Objections”). Thereafter, on or before the date (the “Subsequent Objection Date”) which is the earlier of (i) four (4) Business Days after Purchaser’s counsel receives written notice of any new exception to the Title Commitment and/or receives a revision to the Survey Update, and (ii) the Closing Date, Purchaser shall provide Seller with written notice of any objection to such new exception or matter shown on such revision (any such new exception or revision, a “Subsequent Title Objection” and all such new exceptions or revisions collectively, the “Subsequent Title Objections” and together with any and all Initial Title Objections, collectively, the "Title Objections"). TIME SHALL BE OF THE ESSENSE WITH RESPECT TO THE INITIAL OBJECTION DATE AND THE SUBSEQUENT OBJECTION DATE, AS APPLICABLE. In the event Purchaser does not provide written notice of an Initial Title Objection by the Initial Objection Date or a Subsequent Title Objection by the Subsequent Objection Date, as applicable, Purchaser shall be deemed to have accepted such exception to title or matter shown on the Survey Update, as revised, as an Approved Title Condition. (e) Any Taxes, water rates or charges, and/or sewer rents and assessments as to whic...