Common use of Title and Survey Objections Clause in Contracts

Title and Survey Objections. Within ten (10) days of receipt of the Commitment and Survey, Purchaser shall notify Seller in writing of any matters identified in the Commitment or Survey which Purchaser disapproves ("Objections"). Any title or survey matter that is set forth in the Commitment or shown on the Survey, but not timely objected to in writing by the Purchaser, will be conclusively deemed approved by Purchaser and will constitute a "Permitted Exception" hereunder. Within five (5) days of Seller's receipt of Purchaser's Objections, Seller shall notify Purchaser in writing of any such Objections that Seller is unable or unwilling to cause to be removed or insured over prior to or at the Closing. If Seller does not respond within such five (5) day period, Seller shall be deemed to have elected to cure such Objections. If Seller does not agree to cure the Objections, Purchaser shall elect, by giving written notice to Seller and Escrow Agent within five (5) days after receipt of Seller's notice, to either (i) terminate this Agreement and obtain a refund of the Xxxxxxx Money Deposit, or (ii) waive its Objections, in which case the same will be deemed to be Permitted Exceptions under this Agreement. If Purchaser elects to terminate this Agreement, the Xxxxxxx Money Deposit shall be immediately returned to Purchaser (along with any interest accrued thereon), and neither Party shall have any further rights or obligations under this Agreement except those rights and obligations that expressly survive termination. Notwithstanding the foregoing, Seller shall be solely responsible for the payment or other satisfaction and discharge of record at or before the Closing of all liens and encumbrances against the Property and objected to by Purchaser which can be removed by the payment of money.

Title and Survey Objections. Within ten (10) days of receipt A. Purchaser shall obtain a survey of the Commitment Property (the “Survey”), and Surveyan owner’s title insurance commitment (the “Title Commitment”) issued by Fidelity National Title Insurance Company (herein in this capacity referred to as the “Title Company”), committing to issue to Purchaser an owner’s title insurance policy in the amount of the Purchase Price, together with legible copies of all matters referred to therein as exceptions to title. On or before November 19, 2012 (the “Title Objection Date”), Purchaser shall notify deliver to Seller in writing a statement of any objections to Seller’s title to the Property and any objections as to matters identified in the Commitment or Survey which Purchaser disapproves ("Objections"). Any title or survey matter that is set forth in the Commitment or shown on disclosed by the Survey, but and Seller shall have a reasonable time after Seller’s receipt of such statement (not timely objected to in writing by the Purchaser, will be conclusively deemed approved by Purchaser and will constitute a "Permitted Exception" hereunder. Within exceed five (5) days of Seller's receipt of Purchaser's Objectionsdays) within which to cure any such objections, but Seller shall notify have no obligation to cure any such objections. Purchaser acknowledges that the Covenant (as defined in writing Article III C), Subdivision Plat, Access Agreement, Berm Agreement, Signalization Funds Escrow Agreement, and Restrictive Covenant shall not be objectionable matters under this Article III. In the event that Purchaser does not send to Seller on or before the Title Objection Date a statement of any title or survey objections, such Objections failure conclusively shall be deemed to mean that Purchaser had no such objections and Purchaser shall not have the right to make any title or survey objections after the Title Objection Date except as provided in Section III B hereof. In the event that Seller is unable or unwilling fails to cause to be removed or insured over prior to or at the Closing. If Seller does not respond cure such objections within such five (5) day perioddays, Seller shall be deemed to have elected to cure such Objections. If Seller does not agree to cure the Objections, then Purchaser shall elect, by giving written notice to Seller and Escrow Agent within five (5) days after receipt of Seller's noticegiven on or before the Hard Date, to either (i) terminate this Agreement and obtain receive a full refund of so much of the Xxxxxxx Money DepositDeposit as is then held by Escrow Agent, and thereafter this Agreement shall be null and void and of no further force or effect, and neither Purchaser nor Seller shall have any further rights, duties, liabilities or obligations to the other by reason hereof except for the Inspection Indemnity (hereinafter defined) and the Broker Indemnity (hereinafter defined), or (ii) waive its Objectionssuch objections and consummate the transaction contemplated herein without reduction of the Purchase Price. If Purchaser does not provide Seller written notice of Purchaser’s election as above provided, in which case the same will then Purchaser shall be deemed to be Permitted Exceptions under this Agreement. If Purchaser elects have elected to terminate this Agreement, waive such objections as provided in the Xxxxxxx Money Deposit shall be immediately returned to Purchaser aforesaid item (along with any interest accrued thereonii), and neither Party shall have any further rights or obligations under this Agreement except those rights and obligations that expressly survive termination. Notwithstanding the foregoing, Seller shall be solely responsible for the payment or other satisfaction and discharge of record at or before the Closing of all liens and encumbrances against the Property and objected to by Purchaser which can be removed by the payment of money.

Title and Survey Objections. Within ten A. On or before June 10, 2004, Purchaser shall, at Purchaser’s expense and through a title agent selected by Purchaser, obtain from Commonwealth Land Title Insurance Company ( the “Title Company”), an owner’s title insurance commitment (10the “Commitment”) days together with legible copies of receipt of all matters referred to therein as exceptions to title. On or before June 24, 2004 (the Commitment and Survey“Out Date”), Purchaser shall notify deliver to Seller in writing a statement of any objections to Seller’s title to the Property and any objections as to matters identified in the Commitment or Survey which Purchaser disapproves ("Objections"). Any title or survey matter that is set forth in the Commitment or shown on the Survey, but not timely objected to in writing disclosed by the Purchaser“Survey” (as hereinafter defined), will be conclusively deemed approved by Purchaser and will constitute Seller shall have a "Permitted Exception" hereunder. Within reasonable time after Seller’s receipt of such statement (not to exceed five (5) days of Seller's receipt of Purchaser's Objectionsdays) within which to cure any such objections, but Seller shall notify have no obligation to cure any such objections. In the event that Purchaser in writing does not send to Seller on or before the Out Date a statement of any title or survey objections, such Objections failure conclusively shall be deemed to mean that Purchaser had no such objections and Purchaser shall not have the right to make any title or survey objections after the Out Date except as provided in Section III B hereof. In the event that Seller is unable or unwilling fails to cause to be removed or insured over prior to or at the Closing. If Seller does not respond cure such objections within such five (5) day perioddays, Seller shall be deemed to have elected to cure such Objections. If Seller does not agree to cure the Objections, then Purchaser shall elect, by giving written notice to Seller and Escrow Agent within five (5) days after receipt of Seller's noticeAgent, to either (i) terminate this Agreement and obtain receive a full refund of the Xxxxxxx Money Deposit, and thereafter this Agreement shall be null and void and of no further force or effect, and neither Purchaser nor Seller shall have any further rights, duties, liabilities or obligations to the other by reason hereof except for the Inspection Indemnity (hereinafter defined), or (ii) waive its Objectionssuch objections and consummate the transaction contemplated herein without reduction of the Purchase Price. If Purchaser does not provide Seller written notice of Purchaser’s election as above provided, in which case the same will then Purchaser shall be deemed to be Permitted Exceptions under this Agreementhave elected to waive such objections as provided in the aforesaid item (ii). If In no event will Purchaser elects have the right to terminate this Agreement, the Xxxxxxx Money Deposit shall be immediately returned to Purchaser (along with any interest accrued thereon)object to, and neither Party shall in no event will Seller have any further rights or obligations under this Agreement except those rights and obligations that expressly survive termination. Notwithstanding obligation to cure, any of the foregoing, Seller shall be solely responsible for the payment or other satisfaction and discharge of record at or before the Closing of all liens and encumbrances against the Property and objected to by Purchaser which can be removed by the payment of money.title or

Title and Survey Objections. Within ten If Buyer objects to any matter relating to the Title Commitments or Surveys, Buyer may give notice to Seller Parties specifying such objections not later than thirty (1030) days of receipt of after the Commitment and SurveyEffective Date (the “Title/Survey Objection Date”). If Buyer does make written objection, Purchaser then Seller Parties shall notify Seller Buyer in writing of any matters identified in whether Seller Parties will cause the Commitment or Survey which Purchaser disapproves ("Objections"). Any title or survey matter that is set forth in the Commitment or shown on the Survey, but not timely objected to in writing by the Purchaser, will be conclusively deemed approved by Purchaser and will constitute a "Permitted Exception" hereunder. Within five (5) days of Seller's receipt of Purchaser's Objections, Seller shall notify Purchaser in writing removal of any such Objections matters from title or the Surveys, as the case may be; provided, however, that Seller is unable except with respect to monetary liens or unwilling monetary encumbrances (which must be paid from the sales proceeds and released of record at Closing or provision made for delayed receipt of release documents as may be satisfactory to the Title Company, Buyer and Lender), Sellers shall be under no obligation to cause to be removed or insured over prior to or at the Closingremoval of such matters. If Seller does Parties elect not respond within to cause such five (5) day periodmatters to be removed, Seller shall be deemed or fail to have elected to cure such Objections. If Seller does not agree to cure the Objections, Purchaser shall elect, by giving written provide Buyer with a notice to Seller and Escrow Agent within five (5) days after receipt of Seller's noticeBuyer’s objections that Seller Parties will or will not cause the removal of such matters, to either then Buyer (i) may, provided a Termination Event as defined in Section 5.2(e) has occurred, exercise a Partial Termination Right as to the affected Property or Properties, or if there is more than one Property suffering from a material title or survey defect, terminate this Agreement and obtain a refund of as to all the Xxxxxxx Money DepositProperties at Buyer’s election, all in the same manner as provided in Section 5.2 with respect to an Agreement Termination Right or Partial Termination Right, as the case may be, or (ii) waive its Objectionsmay elect, in which case by written notice given to Seller Parties, to take title to the same will be deemed to be Permitted Exceptions under this AgreementProperties as it then is without any set-off or deduction of any kind against the Purchase Price. If Purchaser elects Seller Parties do not receive written notice of Buyer’s election to terminate this AgreementAgreement within ten (10) days after Buyer’s receipt of such notice from Seller Parties (or the expiration of the ten (10) day period, as the Xxxxxxx Money Deposit case may be), then Buyer shall be immediately returned conclusively presumed not to Purchaser (along with any interest accrued thereon)have elected to take title as it then is, and neither Party shall have any further rights or obligations under this Agreement except those rights and obligations shall terminate. In the event that expressly survive termination. Notwithstanding Seller Parties elect to cure any title or survey matter to which Buyer has objected, then the foregoing, Seller shall be solely responsible for the payment or other satisfaction and discharge of record at or before parties agree to postpone the Closing Date for a reasonable period, not to exceed thirty (30) days, if required to enable Seller Parties to complete the cure of all liens such matter. The parties agree to discuss any survey or title objections identified by Buyer hereunder and encumbrances against the Property and objected to by Purchaser which can be removed by the payment of moneyuse reasonable efforts to resolve such issues.

Title and Survey Objections. Within Buyer shall have until the date that is ten (10) days of following its receipt of the Commitment and SurveySurvey within which to object, Purchaser shall notify Seller in writing of writing, to any matters identified title defect reflected in the Commitment or the Survey which Purchaser disapproves ("Objections"the “Title Objection Period”). Any title or survey If Buyer shall fail to object in writing to any matter that is set forth contained in the Commitment or shown on the SurveySurvey within the Title Objection Period, but not timely objected to in writing by the Purchaser, will be conclusively deemed approved by Purchaser and will constitute a "Permitted Exception" hereunder. Within five (5) days of Seller's receipt of Purchaser's Objections, Seller shall notify Purchaser in writing of any such Objections that Seller is unable or unwilling to cause to be removed or insured over prior to or at the Closing. If Seller does not respond within such five (5) day period, Seller Buyer shall be deemed to have elected waived the right to object to that matter. The matters provided for in this Agreement and all matters contained in the Commitment to which Buyer does not object in writing shall be permitted exceptions hereunder (the “Permitted Exceptions”). If within the Title Objection Period, Buyer notifies Seller of any objection, Seller shall have, at its option and without any obligation to do so, fifteen (15) days (the “Title Curative Period”) in which to elect to cure such Objectionsor remove same. If Seller does elects not agree to cure the Objectionsor remove such objections, Purchaser Seller shall elect, by giving give written notice thereof to Seller and Escrow Agent the Buyer during the Title Curative Period, whereupon the Buyer shall have the option to be exercised within five (5) business days after Buyer’s receipt of Seller's notice, such notice to either (i) terminate cancel this Agreement and obtain a refund and, subject to the terms of Paragraph 11 below, recover all of the Xxxxxxx Money Deposit, Deposit paid hereunder; or (ii) waive its Objectionsthe objections and close without any reduction in the Purchase Price. If Buyer waives any objections, in which case the same will then those objections shall be deemed to be Permitted Exceptions under this Agreement. If Purchaser elects to terminate this Agreement, the Xxxxxxx Money Deposit shall be immediately returned to Purchaser (along with any interest accrued thereon), and neither Party shall have any further rights or obligations under this Agreement except those rights and obligations that expressly survive termination. Notwithstanding the foregoing, Seller shall be solely responsible for the payment or other satisfaction and discharge of record at or before the Closing of all liens and encumbrances against the Property and objected to by Purchaser which can be removed by the payment of moneyExceptions.

Title and Survey Objections. Within ten (10a) days of receipt Buyer shall have until the date that is the earlier of the Commitment and Survey, Purchaser shall notify Seller in writing of any matters identified in the Commitment Closing Date or Survey which Purchaser disapproves ("Objections"). Any title or survey matter that is set forth in the Commitment or shown on the Survey, but not timely objected to in writing by the Purchaser, will be conclusively deemed approved by Purchaser and will constitute a "Permitted Exception" hereunder. Within five (5) days of Seller's receipt of Purchaser's Objections, Seller shall notify Purchaser in writing of any such Objections that Seller is unable or unwilling to cause to be removed or insured over prior to or at the Closing. If Seller does not respond within such five (5) day period, Seller shall be deemed to have elected to cure such Objections. If Seller does not agree to cure the Objections, Purchaser shall elect, by giving written notice to Seller and Escrow Agent within five (5) days after receipt of Seller's noticethereof (the “Title Exam Deadline”) to review any supplemental title report or update to the Preliminary Title Report and any update to the Survey. If Buyer objects to any items contained in any supplemental title report or update to the Preliminary Title Report or update to the Survey (that were not reflected in the Preliminary Title [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, to either (i) terminate this Agreement and obtain a refund MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. Report or the Survey as of the Xxxxxxx Money DepositEffective Date) (“Title Objections”), then Buyer (or Buyer’s counsel) shall notify Seller (iior Seller’s counsel) waive its Objectionsof such Title Objections in writing (a “Title Disapproval Notice”) prior to the Title Exam Deadline. If Buyer does not notify Seller in writing of any such Title Objections within the time period set forth in this Section 4.3.2, then Buyer shall be deemed to have accepted the state of title to the Property reflected in the Preliminary Title Report, as modified by such supplemental title report or update to the Preliminary Title Report), and Survey, as modified by any such updates to the Survey, and to have waived any claims or defects which case it might otherwise have raised with respect to the matters reflected therein and the same will shall be deemed to be Permitted Exceptions under for all purposes of this Agreement. If Purchaser elects to terminate this Agreement, the Xxxxxxx Money Deposit shall be immediately returned to Purchaser (along with any interest accrued thereon), and neither Party shall have any further rights or obligations under this Agreement except those rights and obligations that expressly survive termination. Notwithstanding the foregoing, Seller shall be solely responsible for the payment or other satisfaction and discharge of record at or before the Closing of all liens and encumbrances against the Property and objected to by Purchaser which can be removed by the payment of money.