Title Commitment Review. Within ten (10) business days from the Effective Date, Seller shall, at Buyer’s sole cost and expense, furnish to Buyer a current commitment (hereinafter called the “Title Commitment”) for the issuance of an owner’s policy of title insurance in the amount of $50,000.00 to Buyer from the Title Company, together with good legible copies of all documents constituting exceptions to Seller’s title. Buyer shall have a period of ten (10) days after receipt in which to review such items and to deliver to Seller in writing such objections as Buyer may have to anything contained or set forth in the Title Commitment. Any items to which Buyer does not object within the Inspection Period shall be deemed to be “Permitted Exceptions.” As to items to which Buyer makes objection, Seller shall have the right, but not the obligation, to attempt to effectuate the cure of such objections. In the event Seller is not able to cure such matters prior to Closing, Buyer shall have the right to either (i) terminate this Agreement, in which event neither party hereto shall have any further obligations hereunder, or (ii) waive such title matters and proceed to Closing, whereupon such waived title matters shall also be deemed “Permitted Exceptions.” In the event Buyer terminates this Agreement pursuant to the provisions of this Section, the Xxxxxxx Money Deposit shall be returned to Buyer. If following the title review period, any new title matters are reflected in an update to the Title Commitment, then at Buyer’s sole option, Buyer may approve such new title matter as an additional Permitted Exception, or Buyer may object to such new title matter. If Buyer objects to a new title matter, then the provisions for Seller cure and the provisions for Xxxxx’s remedies in the event Seller is not able to cure, as set forth in the preceding paragraph, shall apply to such new title matter.
Title Commitment Review. Within five (5) days from the effective date of this Contract, the Seller shall furnish to the Purchaser a current commitment ("Title Commitment") for the issuance of an Owner's Policy of Title Insurance to the Purchaser from Chicago Title Insurance Company ("Title Company"), together with true, correct and legible copies of all documents constituting exceptions to Seller's title as reflected in the Title Commitment. Purchaser shall have a period of ten (10) days from the last to be delivered of each of the Survey and Title Commitment in which to review such items and to deliver to Seller in writing such reasonable objections as Purchaser may have to anything contained or set forth in the Title Commitment, title exception documents or Survey. Any items to which Purchaser does not object within such period shall be deemed to be permitted exceptions ("Permitted Exceptions"). In the event Purchaser timely objects to any matter contained in the Title Commitment, title exception documents and/or the Survey as hereinabove provided, Seller shall have a reasonable period of time after receipt of Purchaser's objections within which Seller may attempt to cure such objections specified as aforesaid by Purchaser, provided, however, Seller shall be under no obligation to incur any costs whatsoever in connection with such cure, except
Title Commitment Review. Within 14 days after the Agreement Date, Seller shall provide Buyer with a current title commitment in a preliminary amount of $10,000, covering title to the real estate described on Exhibit A. Unless Buyer and/or Buyer’s counsel objects to encumbrances shown in the title commitment (other than the Permitted Exceptions described below) within 15 days after receipt from Seller, than all objections thereto shall conclusively presumed to be waived by Buyer. During the 30-day period, Buyer may, by written notice to Seller, cancel this agreement in the event Buyer finds any conditions of title reflected in such title commitment which are objectionable to Buyer in Buyer’s sole and absolute discretion (“Unacceptable Exceptions”) provided, however, that Seller shall first be given the opportunity to remove or insure over the Unacceptable Exceptions. If Seller is unable to remove or insure over the Unacceptable Exceptions within 15 business days of Buyer’s notice, then Buyer may terminate this Agreement. Title to the Property shall be deemed acceptable to Buyer if it is subject only to the following exceptions, if any (“Permitted Exceptions”):
Title Commitment Review. Within fifteen (15) days from the Effective Date, the Seller, at the Seller's sole cost and expense, shall furnish to the Purchaser and Purchaser's counsel a current commitment (hereinafter called the "Title Commitment") for the issuance of an Owner's Policy of Title Insurance to the Purchaser from the Title Company, together with good legible copies of all documents constituting exceptions to Seller's title as reflected in the Title Commitment. Purchaser shall have a period of fifteen (15) days from receipt of the last of the UCC Searches, Survey, Title Commitment and the documents referred to therein as conditions or exceptions to title to the Project in which to review such items and to deliver to Seller in writing such objections as Purchaser may have to anything contained or set forth in the UCC Searches, Title Commitment or Survey. Any items to which Purchaser does not object within the fifteen (15) day review period shall be deemed to be "Permitted Exceptions" (herein so called), provided, Purchaser shall not be required to object to consensual liens against the Project securing indebtedness of Seller and any such liens shall not be Permitted Exceptions. As to items to which
Title Commitment Review. Within ten (10) business days from the Effective Date, Seller shall, at Buyers’ sole cost and expense, furnish to Buyers a current commitment (hereinafter called the “Title Commitment”) for the issuance of an owner’s policy of title insurance in the amount of $500,000.00 to Buyers from the Title Company, together with good legible copies of all documents constituting exceptions to Seller’s title. Buyers shall have a period of ten (10) days after receipt thereof in which to review such items and to deliver to Seller in writing such objections as Buyers may have to anything contained or set forth in the Title Commitment. Any items to which Buyers do not object within this period shall be deemed to be “Permitted Exceptions.” As to items to which Buyers make objection, Seller shall have the right, but not the obligation, to attempt to effectuate the cure of such objections. In the event Seller is not able to cure such matters prior to Closing, Buyers shall have the right to either (i) terminate this Agreement, in which event neither party hereto shall have any further obligations hereunder, or
