Common use of Title Material Clause in Contracts

Title Material. Promptly following the Effective Date, Seller will obtain and deliver to Buyer a current preliminary title report ("Title Report") for the Real Property prepared by the Title Company, together with a copy of the documents listed as exceptions therein. Buyer, at its cost, shall obtain a survey ("Survey") of the Real Property prepared by a licensed engineer or surveyor, which Survey shall be sufficient to provide the basis for an ALTA owner's policy of title insurance. Buyer shall deliver a copy of the Survey to the Title Company and to Seller.