Title Insurance Commitment. Seller shall obtain, and deliver to Purchaser, at Purchaser’s sole cost and expense, within twenty (20) days from the Execution Date a current standard commitment for an owner’s policy of title insurance (the “Commitment”), issued by the Title Company as agent for Chicago Title Insurance Company, under which Chicago Title Insurance Company shall agree to insure in the name of Purchaser fee simple title to the Property upon delivery of Seller’s aforesaid deed to Purchaser. The Commitment shall initially be in the minimum amount required by the Title Company for issuance without regard to the Purchase Price. The Property shall be subject only to current general real estate taxes not yet delinquent (and shall not otherwise be subject to any special taxes, assessments, levies, liens or charges made by any public agency or governmental body for any improvements installed on-site or off-site); the title exceptions set forth on Exhibit “B”, which is attached hereto, and by this reference, incorporated herein, title exceptions caused by Purchaser, title exceptions pertaining to liens or encumbrances of a definite or ascertainable amount, which may be removed by the payment of money at Closing, and which the Seller shall remove at that time by using the funds to be paid upon the delivery of the Deed (collectively, the “Permitted Exceptions”). With delivery of the Commitment, Seller shall also deliver or cause to be delivered to Purchaser at Purchaser’s expense copies of any easements, covenants or agreements benefiting or affecting the Property, whether or not of record, of which Seller has knowledge or control. At any time prior to the expiration of fifteen (15) days after receipt by Purchaser of the Commitment, Purchaser shall have the right to advise Seller of any defect or objection thereto. Seller shall then have until fifteen (15) days from the date of Purchaser’s objection to correct or satisfy all defects or objections. If such defects and objections are not corrected or satisfied within said period, then Purchaser, at its option, may elect to terminate this Agreement without liability to Seller by written notice to Seller, in which case, Seller shall promptly return the Option Price to Purchaser or, at Purchaser’s option, Purchaser may elect to accept title subject to such objections or defects and, without Seller having liability to Purchaser by reason of Purchaser accepting title to such objections or defects, if the Option is exercised, proceed to Closi...
Title Insurance Commitment. An American Land Title Association (“ALTA”) mortgagee’s title insurance commitment to be issued by the Title Insurance Company in such form as is acceptable to Lender.
Title Insurance Commitment. Purchaser acknowledges that Seller shall has obtained and delivered to Purchaser a commitment for an ALTA owner's title insurance policy from First American title Insurance Company (the “Title Company”), dated October 26, 2022, number NCS-1153917-CHI2 for the Property (the “Title Commitment”).
Title Insurance Commitment. Buyer is responsible for obtaining any title commitment or survey of the Property sufficiently in advance of each scheduled Closing Date in order to satisfy any title requirements of Buyer or Buyer's lender by the scheduled Closing Date, subject to extension for title clearance matters as provided below. Buyer shall pay for the cost of any survey and title commitment.
Title Insurance Commitment. Within ten (10) days after execution and acceptance of this Agreement by Seller, Seller shall deliver or cause to be delivered to Purchaser a title insurance commitment (the "Title Commitment", Exhibit B) issued by North American Title Company ("Title Company") together with copies of all recorded exceptions to title referred to therein (collectively with the Title Commitment, the "Title Documents"), showing merchantable title to the Property to be vested in Seller and committing to insure such title to the Property in Purchaser or Purchaser's agreed assignees or designees by the issuance as of the Closing date hereunder of its standard form owner's policy of title insurance in the amount of the Purchase Price, deleting there from the pre-printed Standard Exceptions and containing only such other exceptions as are not objected to by Purchaser as otherwise provided in this Agreement. Purchaser shall be entitled to review the Title Documents as part of its investigations hereunder, as further set forth herein.
Title Insurance Commitment. A commitment for an ALTA Owner’s (1970 Form B or the most recent revision thereof) policy of title insurance for each parcel of the Acquired Real Property, dated subsequent to the date hereof, which shall be issued by Commonwealth Land Title Insurance Company or another reputable national title insurance company reasonably acceptable to Purchaser (the “Commitment”). The Commitment shall show all exceptions to title including, but not limited to, all covenants, conditions, restrictions, reservations, easements, rights and rights-of-way, liens and other matters of record, and shall include proper searches for bankruptcies, judgments and State and Federal tax liens affecting the Acquired Real Property or Seller.
Title Insurance Commitment. Buyer shall have received the Title Insurance Commitment and the Survey with respect to the Related Real Property and the Redstone Arsenal Property, all in form and substance reasonably satisfactory to Buyer.
Title Insurance Commitment. Within ten (10) days following the Effective Date hereof, Seller shall cause Flagler County Abstract Company ("Title Company"), through its agent, Xxxx O’Day-Xxxx ("Title Agent"), to issue and deliver to City an A.L.T.A. Form B title commitment ("Title Commitment") accompanied by one (1) copy of each document supporting any exception shown on the Title Commitment to the Property. If the Title Commitment reflects matters other than the standard exception for ad valorem real estate taxes for the current year and those matters which will be discharged by the Seller at or prior to Closing, then the City shall give the Seller written notice thereof before the expiration of ten (10) business days after receipt of the Title Commitment. In such event, the City shall state which exceptions to the Title Commitment are objectionable, and the Seller shall undertake to eliminate such exceptions. In the event the Seller is unable with the exercise of due diligence to satisfy said objections prior to Closing, the City may, in its sole discretion, (i) accept title subject to the objections raised by it, in which event said objections shall be deemed to be waived for all purposes, or (ii) rescind this Agreement and this Agreement shall be of no further force and effect (except for any indemnifications which survive hereunder). Seller shall not be obligated to spend more than $5,000.00 to cure any title defects.
Title Insurance Commitment. Title to the Real Property shall be in fee simple, good and marketable and insurable at regular rates by a title insurance company reasonably acceptable to Buyer and licensed in the state the real property is located, pursuant to the standard stipulations and conditions of an ALTA policy of owner's title insurance, or its reasonable equivalent, prescribed by the applicable regulatory authorities for the state the real property is located, free and clear of all liens and encumbrances except Permitted Encumbrances, as hereinafter defined. For purposes hereof, "Permitted Encumbrances" shall mean (i) easements, restrictions, and other similar matters which will not adversely affect the use of the Real Property in the ordinary course of business, including the business of operating the Stations; (ii) liens for taxes not due and payable; (iii) mechanics, materialmen's, carriers', warehousemen's, landlords' or other similar liens in the ordinary course of business for sums not yet due; (iv) deposits or pledges to secure the performance of bids, tenders, contracts (other than for borrowed money), leases, statutory obligations, surety or appeal bonds or other deposits or pledges for purposes of a like general nature made or given in the ordinary course of business: and (v) liens or mortgages that will be released at Closing. All costs associated with obtaining the standard ALTA policy of title insurance shall be paid by Seller.
Title Insurance Commitment. Prior to the execution of this Agreement, the Seller shall have delivered to the Purchaser a copy of the Seller’s current title insurance policy (“Title Base”), and a copy of the Seller’s survey prepared for the Property (“Survey Base”). No later than five (5) business days after the Effective Date, the Purchaser shall, at the Purchaser’s expense, obtain and deliver to the Seller an ALTA marketability title insurance commitment (the “Title Commitment”) in an amount equal to the Purchase Price, issued through Old Republic National Title Insurance Company (“Underwriter”) and its agent, Xxxx, Xxxxx & Xxxxxxx, P.A. (“Title Agent”), with hard copies of all documents containing the exceptions. The Title Commitment shall show that the Seller is vested with and can convey to the Purchaser good, marketable, and insurable fee simple title to the Property, subject only to the title exceptions contained in the Approved Title, as defined in Section 3.5, or otherwise approved in writing by the Purchaser (“Permitted Exceptions”).
