Title and Survey Sample Clauses
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Title and Survey. 4.1 Seller, at the Seller's sole cost and expense, shall cause to be delivered to Purchaser an ALTA Commitment for Title Insurance for the Property (the "TITLE COMMITMENT") to be issued by First American Title Insurance Company ("Title Company") through its agent, ▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇, P.A., whose address is ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Tallahassee, Florida 32301 (Attention: M. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇.), which Title Commitment contemplates the issuance of an ALTA Owner's Policy of Title Insurance (the "OWNER'S POLICY"). Purchaser acknowledges receipt of the Title Commitment.
4.2 Seller, at Seller's sole cost and expense, shall cause to be delivered to Purchaser search reports (the "SEARCH REPORTS") showing all Uniform Commercial Code filings covering the Property in both the Office of the Secretary of State of the State of Florida and in the official records of the County in which the Land is located. The Search Reports shall be delivered no later than October 12, 2004.
4.3 Seller, at Seller's sole cost and expense, has furnished to Purchaser copies of the most recent survey of the Land and Improvements (collectively, the "SURVEY") in Seller's possession or control. Purchaser acknowledges receipt of the Survey.
4.4 Purchaser shall have until the later to occur of: (i) ten (10) business days following the last to occur of receipt by Purchaser of the Title Commitment and true, correct and legible copies of all instruments and documents referenced as exceptions therein, the Search Reports, and the Survey; or (ii) the expiration of the Inspection Period (hereinafter defined), to review the Title Commitment, Search Reports, and Survey ("REVIEW PERIOD"). In the event any exceptions to title appear in the Title Commitment, or any Uniform Commercial Code filings exist, or any matters appear in the Survey, that are unacceptable to Purchaser, Purchaser shall, within said Review Period, notify Seller in writing of such fact. Upon the expiration of the Review Period, Purchaser shall be deemed to have accepted all exceptions to title referenced in the Title Commitment, all Uniform Commercial Code filings referenced in the Search Reports, and all matters shown on the Survey except for matters which are the subject of a notification permitted under the following sentence, and such accepted exceptions shall be included in the term "Permitted Exceptions" as used herein. In the event that Purchaser does object to any title exceptions or matters shown in the Title Commitment and/or the...
Title and Survey. Buyer may, at Buyer’s sole cost and expense, obtain (a) preliminary title commitment (the “Preliminary Report”) from the Escrow Holder (in such capacity, the “Title Company”); and (b) a survey (the “Survey”).
Title and Survey. A survey shall be prepared for any real property acquired, and an examination of title to the real property shall be conducted by a licensed attorney or, in the alternative, a commitment for title insurance shall be procured from a title insurance company authorized to do business in the Commonwealth. Based upon the survey and title examination or report, the President of the University, acting through the Senior Vice President of Administration and Finance or his designee, shall conclude, prior to acquisition of the real property, that title thereto will be conveyed to the University in fee simple, free and clear of all liens, encumbrances, covenants, restrictions, easements, or other matters that may have a significant adverse effect upon the University's ability to own, occupy, convey, or develop the real property.
Title and Survey. (a) Within three (3) Business Days after the Effective Date, Seller shall provide Purchaser with a copy of the most recent owner’s and lender’s title insurance policies issued in connection with the Real Property and all existing surveys of the Real Property, each if and to the extent that the same are reasonably available in Seller’s possession or control. Purchaser acknowledges receipt of title commitments of the Real Property (together with legible copies of all documents listed as exceptions to title in such commitments) for a 2006 ALTA Owner’s Title Insurance Policy issued by the Title Company for each Property in the full amount of the Purchase Price, covering title to the Real Property on or after the date hereof, showing Seller as owner of the Real Property in fee simple (the “Title Commitments”). The premium for the title policy to be issued in connection with the Title Commitments shall be an expense of Seller at Closing. Purchaser may, at its sole costs and expense, have surveys of each Real Property prepared (the “Surveys”). Purchaser shall have until the end of the Study Period to give Seller a written notice that sets forth any objections that Purchaser has to title or survey matters affecting the Property and disclosed on the Title Commitments or the Surveys (the “Purchaser Title Objections”). Seller shall have seven (7) days after receipt of such written notice to cure the Purchaser Title Objections, either by the removal of the Purchaser Title Objections or, if applicable, by the procurement of title insurance endorsements providing coverage against loss or damage as a result of the Purchaser Title Objections, in the form generally in use by the Title Company and approved by Purchaser in its sole and absolute discretion. Seller shall not be obligated to cure the Purchaser Title Objections; provided, however, if Seller fails to cure the Purchaser Title Objections for a Property within said 7-day period, Purchaser shall have the option, in its sole discretion, of either (x) accepting the title as it then is or (y) terminating this Agreement in its entirety, in which event the Deposit shall immediately be returned to Purchaser, this Agreement shall terminate and Purchaser and Seller shall have no further obligations or liabilities hereunder other than Purchaser’s obligations under Section 5.1(b) and Section 5.3. Notwithstanding anything in this Agreement to the contrary, all Voluntary Liens will be satisfied by Seller on or prior to the Closi...
Title and Survey. The obligation of Purchaser to close and consummate the transaction contemplated herein shall be subject to Purchaser’s being able to acquire title to the Property subject only to those matters approved or deemed approved by Purchaser in accordance with this Article IV.
A. Purchaser, at Purchaser’s sole cost and expense, may obtain a currently dated ALTA survey of the Property (the “Survey”). At Closing, upon Purchaser’s request, Seller shall execute a quitclaim deed in favor of Purchaser using the legal description of the Property based on the Survey.
B. In addition to the conditions precedent set forth in Article XI, it shall be a condition precedent to the obligation of Purchaser to close and consummate the transaction contemplated herein that Seller convey to Purchaser fee simple title to the Property free and clear of all liens, leases, encumbrances, easements, encroachments, restrictions, covenants, assessments, charges, agreements and taxes, except for those matters approved or deemed approved by Purchaser pursuant to this Article IV (the “Permitted Exceptions”). On or before 5:00 pm on the sixtieth (60th) day after the Effective Date (the “Hard Date”), Purchaser shall deliver to Seller a title commitment from a nationally recognized title company selected by Purchaser (the “Title Company”) committing to insure Purchaser’s title to the Property in the amount of the Purchase Price (the “Title Commitment”), together with a statement of any objections to Seller’s title to the Property and any objections as to matters disclosed by the Survey (the “Objection Notice”). Within ten (10) days after receipt of the Objection Notice, Seller may notify Purchaser whether it elects to cure any such objections, it being agreed that Seller has no obligation to do so except as otherwise specifically provided in this Agreement. In the event Seller fails to notify Purchaser whether it elects to cure any such objections within said ten (10) day period, Seller shall be deemed to have elected to not cure any such objections. In the event that Seller elects not to cure all such objections, within five (5) days after receipt of Seller’s election, or within fifteen (15) days after the date of the Objection Notice in the event Seller fails to notify Purchaser whether it elects to cure any such objections within ten (10) days after receipt of the Objection Notice, (i) Purchaser may terminate this Agreement and receive a full refund of the Deposit from Escrow Agent, and thereaf...
Title and Survey. (a) Within fifteen (15) business days after the Exercise Notice, ASDSC shall cause Commonwealth Land Title Company, 5847 ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, Houston, Texas, Attn: Paig▇ ▇▇▇▇▇▇ (▇▇e "Title Company"), to deliver to Kell▇▇▇▇▇, ▇▇ ASDSC's expense, a current owner's title insurance commitment (the "Commitment") naming Kell▇▇▇▇▇ ▇▇ the intended insured, which shall show ASDSC to be vested with and ASDSC shall convey to Kell▇▇▇▇▇, ▇▇od, marketable and insurable fee simple title to the Realty, free and clear of all liens and encumbrances, except the following (the "Permitted Exceptions"):
(i) Ad valorem real estate taxes for 2000 and subsequent years, which at the time of Closing shall not yet be due and payable;
(ii) All matters shown on Schedule B, Item 9 of the Commonwealth Land Title Insurance Company Commitment with an effective date of October 8, 2000 and G.F. No. 0084136 (the "October Commitment");
(iii) Matters set forth in this Letter Agreement;
(iv) Matters to be satisfied by ASDSC at or before the Closing of this transaction; and
(v) Any other matters acceptable to Kell▇▇▇▇▇.
(b) Within fifteen (15) business days after the Exercise Notice, Kell▇▇▇▇▇ ▇▇▇ obtain, at Kell▇▇▇▇▇'▇ ▇▇▇ense, an update of the Survey of the Realty (the "Updated Survey"). The Commitment to be delivered by the Title Company to Kell▇▇▇▇▇ ▇▇▇ll show title to the Realty to be vested in ASDSC subject only to the Permitted Exceptions. If Kell▇▇▇▇▇ ▇▇▇ds title to be defective (but only to the extent not disclosed in the October Commitment) or if the Updated Survey discloses any encroachment in the Realty or that improvements located on the Realty encroach on setback lines, easements, lands of others or violate any restrictions, provisions of this Letter Agreement or applicable governmental regulations (and provided that the Title Company cannot provide affirmative insurance as to such items; and provided further that such items were not disclosed on the Survey, Kell▇▇▇▇▇ ▇▇▇ll, within ten (10) days after Kell▇▇▇▇▇'▇ ▇▇▇eipt of the Commitment and Updated Survey, notify ASDSC in writing specifying the defect(s) and ASDSC shall cause such defects to be cured by the Closing Date or at Closing, including the bringing of lawsuits if necessary. ASDSC agrees to remove by payment, bonding, or otherwise any lien against the Property capable of removal by the payment of money or bonding. ASDSC shall execute appropriate documents at Closing as required for "gap coverage" by the title insurer to...
Title and Survey. CWS shall have the period from the date hereof to and eliding at 5:00 p.m. on the date that is forty-five (45) days from the date hereof (the "Inspection Period") to determine whether the title to all of the real property constituting part of the Assets (as that term is defined in Section 3.2 hereof) (the "Property") is marketable and/or insurable (subject to the exceptions set forth in Schedule 7.5) at regular rates. If CWS determines during the Inspection Period that such title is neither marketable nor insurable (subject to the exceptions set forth in Schedule 7.5) at regular rates, CWS shall give Barnstable a written notice delivered prior to the termination of the Inspection Period setting forth any objections (the "CWS Title Objections") that CWS has to title or survey matters affecting the marketability or insurability, as the case may be (subject to the exceptions set forth in Schedule 7.5), of the Property. For purposes of this Agreement, the standards of title of the Massachusetts Conveyancers Association, to the extent applicable, shall govern the determination of marketable and/or insurable title (subject to the exceptions set forth in Schedule 7.5) at regular rates. Barnstable shall have the option to cure the CWS Title Objections within thirty (30) days after the date of such notice. If Barnstable elects not to cure or is unable to cure the CWS Title Objections by said date, CWS shall have the option to be exercised within 10 days of said date (in its sole discretion) of either (a) accepting the title as it then is for all purposes under this Agreement, waiving any additional rights CWS may have arising from such CWS Title Objections, and proceeding to carry out the transactions contemplated herein, or (b) terminating this Agreement, whereupon this Agreement shall terminate and CWS and Barnstable shall have no further
Title and Survey. Copy of Seller's most current title insurance information and survey of the Property;
Title and Survey. Purchaser shall order from the Title Company a preliminary owner’s title commitment with respect to the Property issued in favor of Purchaser (the “Title Commitment”). Purchaser shall request that the Title Company make copies of the Title Commitment, and copies of all underlying recorded exceptions referenced in the Title Commitment, available to Seller on the Title Company’s website. In addition, Purchaser may elect to obtain an ALTA as-built survey of the Land and the Property (the “Survey”), which Survey, if obtained by Purchaser, shall be certified to Purchaser, Seller and the Title Company. If the Survey is obtained by Purchaser, Purchaser shall promptly deliver a copy of the Survey to Seller. Purchaser shall have until September 19, 2006 to give written notice (the “Title Notice”) to Seller of such objections as Purchaser may have to any exceptions to title disclosed in the Title Commitment (or in the Survey if obtained by Purchaser) or otherwise in Purchaser’s examination of title. Seller shall have the right, but not the obligation (except as to Monetary Objections affecting the Property), to attempt to remove, satisfy or otherwise cure any exceptions to title to which the Purchaser so objects. Within three (3) Business Days after receipt of Purchaser’s Title Notice, Seller shall give written notice to Purchaser informing the Purchaser of Seller’s election with respect to such objections. If Seller fails to give written notice of election within such three (3) Business Day period, Seller shall be deemed to have elected not to attempt to cure the objections (other than Monetary Objections). If Seller elects to attempt to cure any objections, Seller shall be entitled to one or more reasonable adjournments of the Closing of up to but not beyond the tenth (10th) day following the initial date set for the Closing to attempt such cure, but, except for Monetary Objections affecting the Property, Seller shall not be obligated to expend any sums, commence any suits or take any other action to effect such cure. Except as to Monetary Objections affecting the Property, if Seller elects, or is deemed to have elected, not to cure any exceptions to title to which Purchaser has objected or if, after electing to attempt to PURCHASE AND SALE AGREEMENT ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ cure, Seller determines that it is unwilling or unable to remove, satisfy or otherwise cure any such exceptions, Purchaser’s sole remedy hereunder in such event shall be either (i) t...
Title and Survey. REIT, at its own expense, may, during the Due Diligence Period, order (i) any owner lien searches (or other title updates) with respect to the Property, (ii) such surveys or updates to existing surveys with respect to the Property as it desires and (iii) such UCC, judgment, and tax lien searches with respect to Contributors, the Companies and the Property as it desires. Contributors shall cooperate and shall cause other parties to cooperate with REIT’s inspections under this Section.