Common use of Title Commitment; Survey Clause in Contracts

Title Commitment; Survey. (a) Purchaser acknowledges that prior to the Effective Date Purchaser has received from Chicago Title Insurance Company (“Title Company”) a commitment (the “Title Commitment”) for an Owner’s Policy of Title Insurance (Form T-1), and a copy of all recorded documents referred to in the Title Commitment as exceptions to title to the Property (the “Title Documents”). (b) Purchaser further acknowledges that prior to the Effective Date, Seller has delivered to Purchaser an ALTA survey of the Real Property and Improvements made by P▇▇▇ ▇▇▇▇▇▇ Engineers dated February 1997 (the “Existing Survey”). Purchaser shall have the right, at its sole cost and expense, to obtain a current survey of the Real Property and Improvements or to update the Existing Survey (the “Survey”) in accordance with the Minimum Standard Detail Requirements and Classifications for ALTA/ACSM Land Title Surveys published in 2005.

Title Commitment; Survey. (a) Purchaser acknowledges that prior Prior to the Effective Date Date, Purchaser has received from Chicago Title Insurance Company (“Title Company”) a commitment (the “Title Commitment”) for an Owner’s Policy of Title Insurance (Form T-1)Insurance, and a copy of all recorded documents referred to in the Title Commitment as exceptions to title to the Property (the “Title Documents”). (b) Purchaser further acknowledges that prior to the Effective Date, Seller has delivered to Purchaser an ALTA survey of the Real Property and Improvements made by P▇▇▇ ▇▇▇▇▇▇ Engineers and Associates dated February 1997 March 26, 1992 (the “Existing Survey”). Purchaser shall have the right, at its sole cost and expense, to obtain a current survey of the Real Property and Improvements or to update the Existing Survey (the “Survey”) in accordance with the Minimum Standard Detail Requirements and Classifications for ALTA/ACSM Land Title Surveys published in 2005.