Common use of Title Examination Clause in Contracts

Title Examination. Buyer shall have 5 days after receipt of Title Commitment to examine it and notify Seller in writing specifying defect(s), if any, that render title unmarketable. If Seller provides Title Commitment and it is delivered to Buyer less than 5 days prior to Closing Date, Buyer may extend Closing for up to 5 days after date of receipt to examine same in accordance with this STANDARD A. Seller shall have 30 days (“Cure Period”) after receipt of Buyer’s notice to take reasonable diligent efforts to remove defects. If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted title as it then is. If Seller cures defects within Cure Period, Seller will deliver written notice to Buyer (with proof of cure acceptable to Buyer and Buyer’s attorney) and the parties will close this Contract on Closing Date (or if Closing Date has passed, within 10 days after Buyer’s receipt of Seller’s notice). If Seller is unable to cure defects within Cure Period, then Buyer may, within 5 days after expiration of Cure Period, 329 330 331 332 333 334 335 336 337 338 339 16. 340 341 342 343 344 345 346 347 348 349 350 351 17. 352 353 354 355 356 357 18. 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 STANDARDS FOR REAL ESTATE TRANSACTIONS (“STANDARDS”) CONTINUED 383 deliver written notice to Seller: (a) extending Cure Period for a specified period not to exceed 120 days within which 384 Seller shall continue to use reasonable diligent effort to remove or cure the defects (“Extended Cure Period”); or 385 (b) electing to accept title with existing defects and close this Contract on Closing Date (or if Closing Date has 386 passed, within the earlier of 10 days after end of Extended Cure Period or Buyer’s receipt of Seller’s notice), or (c) 387 electing to terminate this Contract and receive a refund of the Deposit, thereby releasing Buyer and Seller from all 388 further obligations under this Contract. If after reasonable diligent effort, Seller is unable to timely cure defects, and 389 Buyer does not waive the defects, this Contract shall terminate, and Buyer shall receive a refund of the Deposit, 390 thereby releasing Buyer and Seller from all further obligations under this Contract.

Title Examination. Buyer shall have 5 days after receipt of Title Commitment to examine it and notify Seller in writing specifying defect(s), if any, that render title unmarketable. If Seller provides Title Commitment and it is delivered to Buyer less than 5 days prior to Closing Date, Buyer may extend Closing for up to 5 days after date of receipt to examine same in accordance with this STANDARD A. Seller shall have 30 days (“Cure Period”) after receipt of Buyer’s notice to take reasonable diligent efforts to remove defects. If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted title as it then is. If Seller cures defects within Cure Period, Seller will deliver written notice to Buyer (with proof of cure acceptable to Buyer and Buyer’s attorney) and the parties will close this Contract on Closing Date (or if Closing Date has passed, within 10 days after Buyer’s receipt of Seller’s notice). If Seller is unable to cure defects within Cure Period, then Buyer may, within 5 days after expiration of Cure Period, deliver written notice to Seller: (a) extending Cure Period for a specified period not to exceed 120 days within which Seller shall continue to use reasonable diligent effort to remove or cure the defects (“Extended Cure Period”); or (b) electing to accept title with existing defects and close this Contract on Closing 326 327 328 329 330 331 332 333 334 335 16. 336 337 338 339 16. 340 341 342 343 344 345 346 347 17. 348 349 350 351 17. 352 353 18. 354 355 356 357 18. 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 STANDARDS FOR REAL ESTATE TRANSACTIONS (“STANDARDS”) CONTINUED 383 deliver written notice to Seller: (a) extending Cure Period for a specified period not to exceed 120 days within which 384 Seller shall continue to use reasonable diligent effort to remove or cure the defects (“Extended Cure Period”); or 385 (b) electing to accept title with existing defects and close this Contract on Closing 382 Date (or if Closing Date has 386 passed, within the earlier of 10 days after end of Extended Cure Period or Buyer’s 383 receipt of Seller’s notice), or (c) 387 electing to terminate this Contract and receive a refund of the Deposit, thereby 384 releasing Buyer and Seller from all 388 further obligations under this Contract. If after reasonable diligent effort, Seller 385 is unable to timely cure defects, and 389 Buyer does not waive the defects, this Contract shall terminate, and Buyer 386 shall receive a refund of the Deposit, 390 thereby releasing Buyer and Seller from all further obligations under this 387 Contract.

Title Examination. Buyer shall have 5 days after receipt of Title Commitment to examine it and notify Seller in writing specifying defect(s), if any, that render title unmarketable. If Seller provides Title Commitment and it is delivered to Buyer less than 5 days prior to Closing Date, Buyer may extend Closing for up to 5 days after date of receipt to examine same in accordance with this STANDARD A. Seller shall have 30 days (“Cure Period”) after receipt of Buyer’s notice to take reasonable diligent efforts to remove defects. If Buyer Xxxxx fails to so notify Seller, Buyer shall be deemed to have accepted title as it then is. If Seller cures defects within Cure Period, Seller will deliver written notice to Buyer (with proof of cure acceptable to Buyer and BuyerXxxxx’s attorney) and the parties will close this Contract on Closing Date (or if Closing Date has passed, within 10 days after BuyerXxxxx’s receipt of Seller’s notice). If Seller is unable to cure defects within Cure Period, then Buyer may, within 5 days after expiration of Cure Period, deliver written notice to Seller: (a) extending Cure Period for a specified period not to exceed 120 days within which Seller shall continue to use reasonable diligent effort to remove or cure the defects (“Extended Cure Period”); or (b) electing to accept title with existing defects and close this Contract on Closing 326 327 328 329 330 331 332 333 334 335 16. 336 337 338 339 16. 340 341 342 343 344 345 346 347 17. 348 349 350 351 17. 352 353 18. 354 355 356 357 18. 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 STANDARDS FOR REAL ESTATE TRANSACTIONS (“STANDARDS”) CONTINUED 383 deliver written notice to Seller: (a) extending Cure Period for a specified period not to exceed 120 days within which 384 Seller shall continue to use reasonable diligent effort to remove or cure the defects (“Extended Cure Period”); or 385 (b) electing to accept title with existing defects and close this Contract on Closing 382 Date (or if Closing Date has 386 passed, within the earlier of 10 days after end of Extended Cure Period or Buyer’s 383 receipt of Seller’s notice), or (c) 387 electing to terminate this Contract and receive a refund of the Deposit, thereby 384 releasing Buyer and Seller from all 388 further obligations under this Contract. If after reasonable diligent effort, Seller 385 is unable to timely cure defects, and 389 Buyer Xxxxx does not waive the defects, this Contract shall terminate, and Buyer 386 shall receive a refund of the Deposit, 390 thereby releasing Buyer and Seller from all further obligations under this 387 Contract.

Title Examination. Buyer shall have 5 days after receipt of Title Commitment to examine it and notify Seller in writing specifying defect(s), if any, that render title unmarketable. If Seller provides Title Commitment and it is delivered to Buyer less than 5 days prior to Closing Date, Buyer may extend Closing for up to 5 days after date of receipt to examine same in accordance with this STANDARD A. Seller shall have 30 days (“"Cure Period”") after receipt of Buyer’s 's notice to take reasonable diligent efforts to remove defects. If Buyer Xxxxx fails to so notify Seller, Buyer shall be deemed to have accepted title as it then is. If Seller cures defects within Cure Period, Seller will deliver written notice to Buyer (with proof of cure acceptable to Buyer and Buyer’s Xxxxx's attorney) and the parties will close this Contract on Closing Date (or if Closing Date has passed, within 10 days after Buyer’s Xxxxx's receipt of Seller’s 's notice). If Seller is unable to cure defects within Cure Period, then Buyer may, within 5 days after expiration of Cure Period, 329 330 331 332 333 334 335 336 337 338 339 16. 340 341 342 343 344 345 346 347 348 349 350 351 17. 352 353 354 355 356 357 18. 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 STANDARDS FOR REAL ESTATE TRANSACTIONS (“"STANDARDS”") CONTINUED 383 deliver written notice to Seller: (a) extending Cure Period for a specified period not to exceed 120 days within which 384 Seller shall continue to use reasonable diligent effort to remove or cure the defects (“"Extended Cure Period”"); or 385 (b) electing to accept title with existing defects and close this Contract on Closing Date (or if Closing Date has 386 passed, within the earlier of 10 days after end of Extended Cure Period or Buyer’s Xxxxx's receipt of Seller’s 's notice), or (c) 387 electing to terminate this Contract and receive a refund of the Deposit, thereby releasing Buyer and Seller from all 388 further obligations under this Contract. If after reasonable diligent effort, Seller Xxxxxx is unable to timely cure defects, and 389 Buyer does not waive the defects, this Contract shall terminate, and Buyer shall receive a refund of the Deposit, 390 thereby releasing Buyer and Seller from all further obligations under this Contract. 391 B. SURVEY: If Survey discloses encroachments on the Real Property or that improvements located thereon 392 encroach on setback lines, easements, or lands of others, or violate any restrictions, covenants, or applicable 393 governmental regulations described in STANDARD A (i)(a), (b) or (d) above, Buyer shall deliver written notice of 394 such matters, together with a copy of Survey, to Seller within 5 days after Xxxxx's receipt of Survey, but no later 395 than Closing. If Buyer timely delivers such notice and Survey to Seller, such matters identified in the notice and 396 Survey shall constitute a title defect, subject to cure obligations of STANDARD A above. If Seller has delivered a 397 prior survey, Seller shall, at Xxxxx's request, execute an affidavit of "no change" to the Real Property since the 398 preparation of such prior survey, to the extent the affirmations therein are true and correct.