Common use of Title Commitment; Title Policy Clause in Contracts

Title Commitment; Title Policy. Seller has no obligation to provide Purchaser with a commitment for title insurance covering the Property. Prior to the auction event at which the Property is being sold, an attempt was made to include such a commitment in the electronic information made available to all prospective bidders on the Internet. At Closing, at Purchaser’s sole cost and expense as set forth in Section 13 hereof, Seller will cause an owner’s policy of title insurance covering the Property in the full amount of the Purchase Price (the “Title Policy”) to be issued to Purchaser by a title insurance company selected by Seller in its sole discretion (the "Title Company," provided, however, if the Property is of a residential nature designed principally for the occupancy of from one to four families, the Title Company will be selected and agreed upon by Xxxxxxxxx and Seller). Purchaser has no right to raise any objection to, nor does Seller have any obligation to eliminate or modify, any easement, lien, imposition, encumbrance, restriction, condition, covenant, or any other matter with respect to the Property, whether of record or not, or whether evidenced by a title commitment, survey, or otherwise. Purchaser hereby acknowledges and agrees that all such matters are permitted encumbrances hereunder and that conveyance of the Property pursuant to this Contract will be subject thereto.

Title Commitment; Title Policy. Seller has no obligation to provide Purchaser with a commitment for title insurance covering the Property. Prior to the auction event at which the Property is being sold, an attempt was made to include such a commitment in the electronic information made available to all prospective bidders on the Internet. At Closing, at Purchaser’s sole cost and expense as set forth in Section 13 hereof, Seller will cause an owner’s policy of title insurance covering the Property in the full amount of the Purchase Price (the “Title Policy”) to be issued to Purchaser by a title insurance company selected by Seller in its sole discretion (the "Title Company," provided, however, if the Property is of a residential nature designed principally for the occupancy of from one to four families, the Title Company will be selected and agreed upon by Xxxxxxxxx Purchaser and Seller). Purchaser has no right to raise any objection to, nor does Seller have any obligation to eliminate or modify, any easement, lien, imposition, encumbrance, restriction, condition, covenant, or any other matter with respect to the Property, whether of record or not, or whether evidenced by a title commitment, survey, or otherwise. Purchaser hereby acknowledges and agrees that all such matters are permitted encumbrances hereunder and that conveyance of the Property pursuant to this Contract will be subject thereto.