Common use of Title Insurance Commitment Clause in Contracts

Title Insurance Commitment. A current title insurance commitment issued by the Title Company, including the best available copies of all recorded exceptions to title referred to therein (collectively, the “Title Commitment”), showing marketable title to the Real Property to be vested in Seller and committing to insure such title to the Real Property in Purchaser by the issuance of a 2021 ALTA form of extended coverage policy of owner’s title insurance, with the standard printed exceptions deleted, in the amount of the Purchase Price, subject to the satisfaction of the requirements of the instruments to be delivered at the Closing as contemplated hereby and any affidavits and agreements of Purchaser and Seller which the Title Company requires in connection with deletion of the standard printed exceptions. Purchaser will review the Title Commitment as part of its investigation of the Property during the Inspection Period. Purchaser will have the right to negotiate with Title Company in order to cause Title Company to modify the Title Commitment to reflect only those exceptions to title that are acceptable to Purchaser. Seller hereby agrees to cooperate with any of Purchaser’s negotiations with the Title Company. If Purchaser does not terminate this Agreement pursuant to Section 3.2 hereof, then the exceptions to title disclosed in the Title Commitment, excluding (a) any delinquent taxes or assessments, (b) any monetary liens or encumbrances which are not a result of the action of Purchaser, its representatives, agents or contractors, and (c) any standard printed exceptions (provided that Purchaser obtains the Survey), will be the “Permitted Exceptions” hereunder.

Title Insurance Commitment. A current title insurance commitment issued by Purchaser has obtained from Commonwealth Land Title Insurance Company (the “Title Company”) a title commitment for the Real Property, Order No. GF#2711000981, including the best available copies of all recorded exceptions to title referred to therein (collectively, the “Title Commitment”), showing marketable title to the Real Property to be vested in Seller and committing to insure such title to the Real Property in Purchaser by the issuance of a 2021 ALTA form of extended coverage policy of owner’s title insurance, with the standard printed exceptions deleted, in the amount of the Purchase Price, subject to the satisfaction of the requirements of the instruments to be delivered at the Closing as contemplated hereby and any affidavits and agreements of Purchaser and Seller which the Title Company requires in connection with deletion of the standard printed exceptions. Purchaser will review has reviewed the Title Commitment as part of its investigation of and negotiated with the Property during the Inspection Period. Purchaser will have the right to negotiate with Title Company in order to cause the Title Company to modify the Title Commitment to reflect only those exceptions to title that are acceptable to Purchaser. Seller hereby agrees to cooperate with any of Purchaser’s negotiations with the Title Company. If Purchaser does not terminate this Agreement pursuant to Section 3.2 hereof, then the The exceptions to title disclosed in the Title CommitmentCommitment (i.e., excluding (a) including any delinquent taxes endorsements or assessmentssupplements to the Title Commitment that the Title Company has agreed to issue prior to such expiration), (b) including any monetary liens or encumbrances which are not a result of the action of Purchaser, its representatives, agents or contractors, and (c) any standard printed exceptions (provided that Purchaser obtains the Survey)survey matters, will be the “Permitted Exceptions” hereunder, excluding (i) any delinquent taxes or assessments, (ii) any monetary liens or encumbrances created by, through or under Seller, or (iii) any standard printed exceptions concerning parties in possession, mechanics’ liens or claims therefor and matters first appearing in the public records after the date of the Title Commitment but before Closing. At or prior to Closing, Seller will provide such affidavits to the Title Company as may be necessary to delete such standard printed exceptions and Seller will cause any delinquent taxes or assessments and any monetary liens or encumbrances created by, through or under Seller and any mechanics’ liens or claims and any other encumbrances resulting from Seller’s breach of its covenants under this Agreement (any such item being a “Non-Permitted Exception”) to be removed of record. Except as specifically provided in this Section 3.2(a), Seller will have no obligation to cure or remove any exceptions shown on the Title Commitment unless Seller agrees in writing to do so.

Title Insurance Commitment. A current title insurance commitment issued by the Title Company, including the best available copies of all recorded exceptions to title referred to therein (collectively, the “Title Commitment”), showing marketable title to the Real Property to be vested in Seller and committing to insure such title to the Real Property in Purchaser by the issuance of a 2021 2006 ALTA form of extended coverage policy of owner’s title insurance, with the standard printed exceptions deleted, in the amount of the Purchase Price, subject to the satisfaction of the requirements of the instruments to be delivered at the Closing as contemplated hereby and any affidavits and agreements of Purchaser and Seller which the Title Company requires in connection with deletion of the standard printed exceptions. Purchaser will review the Title Commitment as part of its investigation of the Property during the Inspection Period. Purchaser will have the right to negotiate with Title Company in order to cause Title Company to modify the Title Commitment to reflect only those exceptions to title that are acceptable to Purchaser. Seller hereby agrees to cooperate with any of Purchaser’s negotiations with the Title Company. If Purchaser does not terminate this Agreement pursuant to Section 3.2 hereof, then the exceptions to title disclosed in the Title Commitment, excluding (a) any delinquent taxes or assessments, or (b) any monetary liens or encumbrances which are not a result of the action of Purchaser, its representatives, agents or contractors, and (c) any standard printed exceptions (provided that Purchaser obtains the Survey), will be the “Permitted Exceptions” hereunder.

Title Insurance Commitment. A current title insurance commitment issued by the Title Company, including the best available copies of all recorded exceptions to title referred to therein (collectively, the “Title Commitment”), showing marketable title to the Real Property to be vested in Seller and committing to insure such title to the Real Property in Purchaser by the issuance of a 2021 2006 ALTA form of extended coverage policy of owner’s title insurance, with the standard printed exceptions deleted, in the amount of the Purchase Pricedesignated by Purchaser, subject to the satisfaction of the requirements of the instruments to be delivered at the Closing as contemplated hereby and any affidavits and agreements of Purchaser and Seller which the Title Company requires in connection with deletion of the standard printed exceptions. Purchaser will review the Title Commitment as part of its investigation of the Property during the Inspection Period. Purchaser will have the right to negotiate with Title Company in order to cause Title Company to modify the Title Commitment to reflect only those exceptions to title that are acceptable to Purchaser. Seller hereby agrees to cooperate with any of Purchaser’s negotiations with the Title Company. If Purchaser does not terminate this Agreement pursuant to Section 3.2 III.3 hereof, then the exceptions to title disclosed in the Title CommitmentCommitment and approved by Purchaser in writing, excluding (a) any delinquent taxes or assessments, (b) any monetary liens or encumbrances which are not a result of the action of Purchaser, its representatives, agents or contractors, and (c) any standard printed exceptions (provided that Purchaser obtains the Survey)exceptions, will be the “Permitted Exceptions” hereunder.