Common use of Title Evidence Clause in Contracts

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the property. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreed.

Appears in 5 contracts

Samples: Purchase Agricultural Land, Purchase Agricultural Land, Purchase Agricultural Land

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Title Evidence. Upon acceptance of this ContractNo less than fourteen (14) days prior to the Closing Date, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract to Buyer satisfactory evidence of title continued within 30 days before final payment hereunderto the Property which shall be a Commitment for Title Insurance issued by the Title Company, showing the condition of title to the Property (the “Title Commitment”) and committing the company to issue an owner’s policy in the usual form insuring merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County Property in which said premises are located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois Buyer’s name for the amount of the purchase pricePurchase Price. Seller shall pay The title to the initial title search charge and title insurance premium. Property to be conveyed to Buyer shall pay be free and clear of all liens and encumbrances, subject to the search charge as Permitted Exceptions. Conveyance of title shall be by Warranty Deed. In the event any exceptions or defects appear in the Title Commitment that are unacceptable to Buyer, the cost then Buyer shall notify Seller in writing of mortgageesuch fact. Seller may, at Seller’s title insurance policy, if any, and the cost of all necessary endorsements option undertake to commit to eliminate or modify such unacceptable exceptions to the reasonable satisfaction of Buyer. If Seller is unwilling or unable to commit to cure such objections within five (5) days after Seller's receipt of Buyer's objections, Buyer may either (i) terminate this Agreement by notice in writing to Seller or (ii) accept title insurance policy. subject to such objections Buyer further acknowledges and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy agrees to accept title to the Property subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, general exceptions against title to the Property appearing in the Title Commitment; (b) building, use all real estate taxes and occupancy or restrictions, if any, assessments which do are not unreasonably interfere with Buyer’s intended use due and payable as of the property, Closing Date; (c) restrictions or reservations of any type; (d) zoning laws and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, ; (e) roadways, rights of way, and easements; (f) drainage ditches, feeders and laterals; (g) all outstanding mineral rights or reservations, oil, gas or mineral leases, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, ; (h) rights of tenants in possession if anywater districts, water rights; and (i) matters which can only could be discovered disclosed by a survey of the propertyProperty; (collectively, the “Permitted Exceptions”). Buyer or his attorney At the Closing, Seller shall within 10 business days after receiving such title evidence, render payment and deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made requested document to the title. In case such title evidence is not delivered Title Company to cause the Title Commitment to be converted into an Owner's Title Policy in the amount of the Purchase Price showing Buyer or his attorney within a reasonable timeas the owner of the Property as of the Closing Date, or material objections made subject to the title in such report are Permitted Exceptions. Seller shall not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money required to provide any endorsements to the Owner's Title Policy. The cost of the Owner's Title Policy shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreedpaid for by Seller.

Appears in 4 contracts

Samples: Contract to Purchase, Contract to Purchase, Contract to Purchase

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises Property in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are Property is located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premisesProperty, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the propertyProperty. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises Property as agreed.

Appears in 3 contracts

Samples: Purchase Agricultural Land, Purchase Agricultural Land, Purchase Agricultural Land

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises Property in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are Property is located, or _X_ X A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premisesProperty, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the propertyProperty. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises Property as agreed.

Appears in 3 contracts

Samples: Purchase Agricultural Land, Purchase Agricultural Land, Purchase Agricultural Land

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ A commitment and an Owners ALTA Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Title Insurance Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the property. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreed.

Appears in 3 contracts

Samples: Purchase Agricultural Land, Purchase Agricultural Land, Purchase Agricultural Land

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or DRAFT: Non-Executable _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the property. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreed.

Appears in 3 contracts

Samples: Purchase Agricultural Land, Purchase Agricultural Land, Real Estate Contract

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and Any title insurance premium. Buyer shall pay the search charge as company's title binder to Buyerissue, the cost of mortgagee’s after closing, a title insurance policy, if anywas made available to Buyer prior to the auction closing (“Title Work”), and the cost of all necessary endorsements if none then Buyer agrees that it was Buyer’s sole decision and responsibility prior to the auction to obtain any title insurance policybinder or title information (also, “Title Work”), and review and approve the same, and that Buyer agrees to take title subject to any matters that might be excepted to, required or disclosed in a title binder or commitment. This Contract is not contingent on Buyer’s or Buyer’s lender review of any title matters. Additionally, Buyer and Seller shall furnish immediately upon request agrees to take title subject to all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, leviedfollowing that are evidenced of public record, or confirmed after that would be disclosed by survey or inspection of the date hereofProperty: encroachments, (b) buildingrights-of-way, use and occupancy or trees, plantings, fences, easements, restrictions, if anyprotective covenants, which do not unreasonably interfere with Buyer’s intended use of the propertyunmatured special assessments, (c) zoning laws laws, ordinances and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) regulations; rights of tenants in possession and any other leases, and liens, if any; except that at closing Seller is obligated to: (A) pay any amount secured by any mortgage recorded against the Property and cause the mortgage to be released, and (iB) matters which can only be discovered by a survey remove any claim or matter that affects the marketability of title and that Seller caused to first affect the Property after the date of the propertyTitle Work search. The Seller and Buyer shall each pay one-half the cost of any owner’s title policy insuring up to the purchase price, but Buyer will pay all costs of title policy endorsements. In the event the land is to be used for new construction, the builder/Seller may receive builder discount if any. Buyer or his attorney shall within 10 business days after receiving such pay for any lender's/mortgagee's/Instrument holder's title evidenceinsurance coverage. Should the Seller be unable by closing to perform its obligations pursuant to this Section 3, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shallmay, at Buyer's option and as Buyer’s optionsole and exclusive remedy, be void and all waive such defect or terminate this Contract. If the Buyer elects to terminate, then the xxxxxxx money shall be returned refunded promptly to Buyer. the Buyer may, nevertheless, elect to take such and title as it then isinsurance cancellation fees will be paid by Seller, and may deduct all parties shall be released from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreed.any further liability hereunder. Any Title Work must be ordered from Kansas Secured Title

Appears in 2 contracts

Samples: Real Estate Purchase Contract, Real Estate Purchase Contract

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the property. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreed.

Appears in 2 contracts

Samples: Purchase Agricultural Land, Purchase Agricultural Land

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ X A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the property. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreed.

Appears in 2 contracts

Samples: Purchase Agricultural Land, Purchase Agricultural Land

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises Property in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are Property is located, or _X_ DRAFT: Non-Executable X A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premisesProperty, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the propertyProperty, and (j) any standard title exceptions. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises Property as agreed.

Appears in 2 contracts

Samples: Purchase Agricultural Land, Purchase Agricultural Land

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and Any title insurance premium. Buyer shall pay the search charge as company's title binder to Buyerissue, the cost of mortgagee’s after closing, a title insurance policy, if anywas made available to Buyer prior to the auction closing (“Title Work”), and the cost of all necessary endorsements if none then Buyer agrees that it was Buyer’s sole decision and responsibility prior to the auction to obtain any title insurance policybinder or title information (also, “Title Work”), and review and approve the same, and that Buyer agrees to take title subject to any matters that might be excepted to, required or disclosed in a title binder or commitment. This Contract is not contingent on Buyer’s or Buyer’s lender review of any title matters. Additionally, Buyer and Seller shall furnish immediately upon request agrees to take title subject to all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, leviedfollowing that are evidenced of public record, or confirmed after that would be disclosed by survey or inspection of the date hereofProperty: encroachments, (b) buildingrights-of-way, use and occupancy or trees, plantings, fences, easements, restrictions, if anyprotective covenants, which do not unreasonably interfere with Buyer’s intended use of the propertyunmatured special assessments, (c) zoning laws laws, ordinances and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) regulations; rights of tenants in possession and any other leases, and liens, if any; except that at closing Seller is obligated to: (A) pay any amount secured by any mortgage recorded against the Property and cause the mortgage to be released, and (iB) matters which can only be discovered by a survey remove any claim or matter that affects the marketability of title and that Seller caused to first affect the Property after the date of the propertyTitle Work search. The Seller and Buyer shall each pay one-half the cost of any owner’s title policy insuring up to the purchase price, but Buyer will pay all costs of title policy endorsements. In the event the land is to be used for new construction, the builder/Seller may receive builder discount if any. Buyer or his attorney shall within 10 business days after receiving such pay for any lender's/mortgagee's/Instrument holder's title evidenceinsurance coverage. Should the Seller be unable by closing to perform its obligations pursuant to this Section 15, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shallmay, at Buyer's option and as Buyer’s optionsole and exclusive remedy, be void and all waive such defect or terminate this Contract. If the Buyer elects to terminate, then the xxxxxxx money shall be returned refunded promptly to Buyer. the Buyer may, nevertheless, elect to take such and title as it then isinsurance cancellation fees will be paid by Seller, and may deduct all parties shall be released from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreedany further liability hereunder. Any Title Work must be ordered from Kansas Secured Title.

Appears in 2 contracts

Samples: Real Estate Purchase Contract, Real Estate Purchase Contract

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and Any title insurance premium. Buyer shall pay the search charge as company's title binder to Buyerissue, the cost of mortgagee’s after closing, a title insurance policy, if anywas made available to Buyer prior to the auction closing (“Title Work”), and the cost of all necessary endorsements if none then Buyer agrees that it was Buyer’s sole decision and responsibility prior to the auction to obtain any title insurance policybinder or title information (also, “Title Work”), and review and approve the same, and that Buyer agrees to take title subject to any matters that might be excepted to, required or disclosed in a title binder or commitment. This Contract is not contingent on Buyer’s or Buyer’s lender review of any title matters. Additionally, Buyer and Seller shall furnish immediately upon request agrees to take title subject to all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, leviedfollowing that are evidenced of public record, or confirmed after that would be disclosed by survey or inspection of the date hereofProperty: encroachments, (b) buildingrights-of-way, use and occupancy or trees, plantings, fences, easements, restrictions, if anyprotective covenants, which do not unreasonably interfere with Buyer’s intended use of the propertyunmatured special assessments, (c) zoning laws laws, ordinances and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) regulations; rights of tenants in possession and any other leases, and liens, if any; except that at closing Seller is obligated to: (A) pay any amount secured by any mortgage recorded against the Property and cause the mortgage to be released, and (iB) matters which can only be discovered by a survey remove any claim or matter that affects the marketability of title and that Seller caused to first affect the Property after the date of the propertyTitle Work search. The Seller and Buyer shall each pay one-half the cost of any owner’s title policy insuring up to the purchase price, but Buyer will pay all costs of title policy endorsements. In the event the land is to be used for new construction, the builder/Seller may receive builder discount if any. Buyer or his attorney shall within 10 business days after receiving such pay for any lender's/mortgagee's/Instrument holder's title evidenceinsurance coverage. Should the Seller be unable by closing to perform its obligations pursuant to this Section 17, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shallmay, at Buyer's option and as Buyer’s optionsole and exclusive remedy, be void and all waive such defect or terminate this Contract. If the Buyer elects to terminate, then the xxxxxxx money shall be returned refunded promptly to Buyer. the Buyer may, nevertheless, elect to take such and title as it then isinsurance cancellation fees will be paid by Seller, and may deduct all parties shall be released from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreedany further liability hereunder. Any Title Work must be ordered from Kansas Secured Title.

Appears in 2 contracts

Samples: www.langere.com, www.langere.com

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on SellerXxxxxx’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the property. DRAFT: Non-Executable Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreed.

Appears in 2 contracts

Samples: Purchase Agricultural Land, Purchase Agricultural Land

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises Property in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are Property is located, or _X_ X A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements and options for easements of record or in place affecting the premisesProperty, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the propertyProperty. Buyer or his its attorney shall within 10 five (5) business days after receiving such title evidence, deliver to Seller or his its attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his its attorney within a reasonable time, or material objections made to the title in such report are not cured with within sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises Property as agreed.

Appears in 1 contract

Samples: Form of Agreement

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and Any title insurance premium. Buyer shall pay the search charge as company's title binder to Buyerissue, the cost of mortgagee’s after closing, a title insurance policy, if anywas made available to Buyer prior to the auction closing (“Title Work”), and the cost of all necessary endorsements if none then Buyer agrees that it was Buyer’s sole decision and responsibility prior to the auction to obtain any title insurance policybinder or title information (also, “Title Work”), and review and approve the same, and that Buyer agrees to take title subject to any matters that might be excepted to, required or disclosed in a title binder or commitment. This Contract is not contingent on Buyer’s or Buyer’s lender review of any title matters. Additionally, Buyer and Seller shall furnish immediately upon request agrees to take title subject to all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, leviedfollowing that are evidenced of public record, or confirmed after that would be disclosed by survey or inspection of the date hereofProperty: encroachments, (b) buildingrights-of-way, use and occupancy or trees, plantings, fences, easements, restrictions, if anyprotective covenants, which do not unreasonably interfere with Buyer’s intended use of the propertyunmatured special assessments, (c) zoning laws laws, ordinances and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) regulations; rights of tenants in possession and any other leases, and liens, if any; except that at closing Seller is obligated to: (A) pay any amount secured by any mortgage recorded against the Property and cause the mortgage to be released, and (iB) matters which can only be discovered by a survey remove any claim or matter that affects the marketability of title and that Seller caused to first affect the Property after the date of the propertyTitle Work search. The Seller and Buyer shall each pay one-half the cost of any owner’s title policy insuring up to the purchase price, but Buyer will pay all costs of title policy endorsements. In the event the land is to be used for new construction, the builder/Seller may receive builder discount if any. Buyer or his attorney shall within 10 business days after receiving such pay for any lender's/mortgagee's/Instrument holder's title evidenceinsurance coverage. Should the Seller be unable by closing to perform its obligations pursuant to this Section 3, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shallmay, at Buyer's option and as Buyer’s optionsole and exclusive remedy, be void and all waive such defect or terminate this Contract. If the Buyer elects to terminate, then the xxxxxxx money shall be returned refunded promptly to Buyer. the Buyer may, nevertheless, elect to take such and title as it then isinsurance cancellation fees will be paid by Seller, and may deduct all parties shall be released from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreedany further liability hereunder. Any Title Work must be ordered from Kansas Secured Title .

Appears in 1 contract

Samples: Real Estate Purchase Contract by Auction

Title Evidence. DRAFT-NON EXECUTABLE Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the property. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreed.

Appears in 1 contract

Samples: Purchase Agricultural Land

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the property. DRAFT: Non-Executable Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreed.

Appears in 1 contract

Samples: Purchase Agricultural Land

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Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ x A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject Subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of or tenants in possession if any, and (i) matters which can only be discovered by a survey of the property. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreed.

Appears in 1 contract

Samples: Form of Agreement

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ xx A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject Subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of or tenants in possession if any, and (i) matters which can only Rights or claims of parties in possession not shown by public records; (j) Existing unrecorded leases and all rights thereunder of the lessees and of any person claiming by, through or under the leases; (k) Rights of the public, State of Illinois, the County, the Township and any Municipality in and to that part of the premises in question taken, used or dedicated for roads and highways; and (l) any encroachment, encumbrance, violation variation, or adverse circumstance affecting the title that would be discovered disclosed by a an accurate and complete land survey of the propertyland; and (m) easements and claims of easements not shown by the public roads. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreed.

Appears in 1 contract

Samples: www.sterlinglandcompany.com

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises Property in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are Property is located, or _X_ X A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. DRAFT: Non-Executable Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premisesProperty, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the propertyProperty. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises Property as agreed.

Appears in 1 contract

Samples: Purchase Agricultural Land

Title Evidence. Upon acceptance of this Contract, DRAFT: Non-Executa Seller shall deliver to Buyer or Xxxxx’s attorney within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract customary time limitations as evidence of title continued within 30 days before final payment hereunderin Seller, showing merchantable a title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ A commitment and for an Owners Title Guaranty Policy ALTA title insurance policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy The title commitment shall be subject only to the following: (a) all taxes and special assessments now a lien, or levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the propertyProperty as agricultural land, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premisesProperty, if any, which do not unreasonably interfere with Buyer’s intended use of the propertyProperty as agricultural land, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey encroachments shown on the Survey that do not materially interfere with Buyer’s intended use of the propertyProperty as agricultural land (Collectively, the “Permitted Exceptions”). Buyer or his attorney shall within 10 five (5) business days after receiving such title evidencecommitment and Survey, deliver to Seller or his attorney, together with such evidence, a report written notice specifying survey-related title defects as defined in writing specifying any Section 11 above and unpermitted exceptions to which Buyer objects. Seller shall provide a written response to Xxxxx’s notice of objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable timetime period after receipt and advise whether Seller will cause such unpermitted exceptions or survey-related title defects to be cured, waived, or material objections made insured over before Closing. If Seller cannot cause such unpermitted exceptions or survey-related title defects to the title in such report are not cured with sixty (60) days after such report is so deliveredbe cured, waived, or insured over before Closing, then this Contract shall, at Buyer’s option, be void void, and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of any monetary liens and encumbrances of a definite or ascertainable amount and, in such case, the Seller shall convey the premises Property as agreed.

Appears in 1 contract

Samples: Agreement

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises Property in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are Property is located, or _X_ DRAFT: Non-Executable X A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premisesProperty, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the propertyProperty, and (j) the standard title exceptions. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises Property as agreed.

Appears in 1 contract

Samples: Purchase Agricultural Land

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises Property in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are Property is located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premisesProperty, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the propertyProperty. Xxxxx has received a copy of the title insurance commitment prior to auction. Seller shall cause the title insurance commitment to be updated by on or before September 22, 2023 to reflect the Buyer as the proposed insured, or such other individual or entity which Buyer may select, and to reflect the contract purchase price as the Proposed Policy Amount on the title insurance commitment. Buyer or his attorney has reviewed the title insurance commitment before bidding. Buyer waives any objection to matters disclosed on the title insurance commitment issued prior to auction. Buyer shall within 10 business days after only be permitted to object to matters which may be added to the title insurance receiving such a revised title evidenceinsurance commitment to, deliver to Seller or his attorney, together with such evidence, attorney a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises Property as agreedthe agreed commitment by revision issued after the date of auction, and in such instance Buyer or his attorney shall within 10 business days after.

Appears in 1 contract

Samples: Purchase Agricultural Land

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises Property in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are Property is located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premisesProperty, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the propertyProperty. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises Property as agreed.

Appears in 1 contract

Samples: Real Estate Contract

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premisesProperty, if any, which do not unreasonably interfere with BuyerXxxxx’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, and (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the propertyProperty. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material materials objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void voided and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises Property as agreed.

Appears in 1 contract

Samples: Real Estate Contract

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). DRAFT: Non-Executable An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises Property in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are Property is located, or _X_ X A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premisesProperty, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the propertyProperty. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises Property as agreed.

Appears in 1 contract

Samples: Purchase Agricultural Land

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises Property in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are Property is located, or _X_ X A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premisesProperty, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the propertyProperty. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises Property as agreed.

Appears in 1 contract

Samples: Purchase Agricultural Land

Title Evidence. Upon acceptance of this Contract, Seller shall within a reasonable period furnish at Seller’s expense: (Check expense:(Check appropriate statement). An abstract of title continued within 30 days before final payment hereunder, showing merchantable title of record to said premises in the Seller or the party who will execute the transactional instrument on Seller’s behalf, according to the Rules and standards of the Bar of the County in which said premises are located, or _X_ A commitment and an Owners Title Guaranty Policy issued by a Company licensed to issue the same in the State of Illinois for the amount of the purchase price. Seller shall pay the initial title search charge and title insurance premium. Buyer shall pay the search charge as to Buyer, the cost of mortgagee’s title insurance policy, if any, and the cost of all necessary endorsements to the title insurance policy. Buyer and Seller shall furnish immediately upon request all information legally required for financing or transfer of title. Policy subject only to the following: (a) all taxes and special assessments now a lien, levied, or confirmed after the date hereof, (b) building, use and occupancy or restrictions, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (c) zoning laws and ordinances, (d) easements of record or in place affecting the premises, if any, which do not unreasonably interfere with Buyer’s intended use of the property, (e) drainage ditches, feeders and laterals, if any, (f) conveyances or reservations of coal, minerals and mining rights, if any, of record, (g) mortgage or other lien that may be eliminated at closing by application of the purchase price, (h) rights of tenants in possession if any, and (i) matters which can only be discovered by a survey of the property. Buyer or his attorney shall within 10 business days after receiving such title evidence, deliver to Seller or his attorney, together with such evidence, a report in writing specifying any objections made to the title. In case such title evidence is not delivered to Buyer or his attorney within a reasonable time, or material objections made to the title in such report are not cured with sixty (60) days after such report is so delivered, this Contract shall, at Buyer’s option, be void and all xxxxxxx money shall be returned to Buyer. Buyer may, nevertheless, elect to take such title as it then is, and may deduct from the purchase price the amounts of liens and encumbrances and, in such case, the Seller shall convey the premises as agreed.

Appears in 1 contract

Samples: Purchase Agricultural Land

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