Title/Survey Sample Clauses

Title/Survey. A▇▇▇▇▇▇▇ has ordered a commitment for title insurance (as the same may be updated from time to time, collectively the “Title Commitment”) from a nationally recognized title company selected by Acquiror (the “Title Company”) and may order a survey (as the same may be updated from time to time, collectively, the “Survey”) with respect to the Owned Real Property. As promptly as practicable, but in any event at least thirty (30) Business Days prior to the Closing Date, Acquiror shall deliver to MGEX a notice (as the same may be supplemented from time to time, the “Title Objection Notice”) setting forth any objectionable items disclosed on the Title Commitment or the Survey which, in Acquiror’s reasonable discretion, is necessary to cure prior to Closing (each a “Title Objection”) in order for Acquiror to obtain an owner’s and/or lender’s policy of title insurance, with such endorsements as reasonably required by Acquiror or any such lender, with respect to the Owned Real Property in a form reasonably acceptable to Acquiror. MGEX shall use commercially reasonable business efforts to cure each Title Objection, whether by the payment of monies or in a manner otherwise acceptable to Acquiror. If any updates to the Title Commitment or Survey are issued subsequent to the date of the initial Title Commitment and/or Survey and contain exceptions other than those in the initial Title Commitment and/or Survey, Acquiror will be entitled to object to such new exceptions by delivering a notice to MGEX of Title Objections disclosed in such updates and such notice shall constitute a Title Objection Notice and MGEX shall use commercially reasonable business efforts to cure any Title Objections noted therein in accordance with the terms and provisions of this Section. If MGEX fails on or before five (5) Business Days prior to Closing to cure any Title Objection, MGEX shall provide a good faith estimate of the cost to cure the uncured Title Objections (“Title Cure Amount”). MGEX shall cause to be delivered to the Title Company such affidavits, certificates, organizational documents and other instruments, including, but not limited to, affidavits relating to non-imputation (collectively, the “Title Deliverables”), as may be customarily and reasonably required by the Title Company in order for the Title Company to issue an owner’s and/or lender’s policy of title insurance, with such endorsement as reasonably required by Acquiror or any such lender, with respect to the Owned Real ...

Title/Survey. The Collateral Agent shall have received title insurance policies with respect to each Real Property Asset from Lawyers Title Insurance Company or another title company reasonably acceptable to the Collateral Agent and real property surveys with respect to the Real Property Assets, all in form and substance reasonably satisfactory to the Collateral Agent.

Title/Survey. Each Title Commitment and the related Title Documents (as such terms are defined in Section 4.2) and the most recent survey in Seller’s possession with respect to the Land and Improvements for each of the Facilities (collectively, the “Existing Surveys”).

Title/Survey. Paragraph 6 of the Agreement is hereby deleted in its entirety. Any and all references in the Agreement to Paragraph 6 shall mean and refer to Paragraph 5 of the Agreement. Paragraph 5 of the Agreement is hereby amended and restated in its entirety as follows:

Title/Survey. 6.1 Seller shall not, at any time during the Term, alter or encumber title to the Property or otherwise suffer or permit any further encumbrances or liens to attach to the Property (other than the Permitted Title Exceptions). Seller shall convey marketable and insurable title to the Property to Purchaser by a special warranty deed, which shall be subject only to the Permitted Title Exceptions (the “Deed”). In no event shall the Property be subject to any (i) mortgage, deed to secure debt, deed of trust, security agreement, judgment, lien or claim of lien, or any other title exception or defect that is monetary in nature, Seller hereby agreeing to pay and satisfy of record any such title defects or exceptions prior to or at Closing at Seller’s expense or terminate this Agreement by the deadline for Closing hereunder, or (ii) any leases, rental agreements or other rights of occupancy of any kind, whether written or oral (the items described in (i) and (ii) are referred to herein collectively as the “Seller Defects”). Purchaser may, at its expense obtain a title insurance commitment for the Property (the “Title Commitment”), issued by the Title Company and naming Purchaser as the proposed insured. In the event the Title Commitment discloses any Seller Defects or any exceptions to title other than the Permitted Title Exceptions, Seller shall, at its expense, either (A) cause the same to be removed as encumbrances to the Property prior to Closing or (B) terminate this Agreement. The obligation of Purchaser to proceed with Closing shall be subject to the condition precedent that the Title Company must issue to Purchaser at the Closing a Title Policy, subject to payment by Purchaser of the premium for such policy, and Seller shall reasonably cooperate with Purchaser’s efforts to cause the Title Company to issue such Title Policy. 6.2 As used in Paragraph 6.1, “insurable title” shall mean title insurable at standard rates by the Title Company with a Title Policy. 6.3 Purchaser may, at its expense, cause the Property to be surveyed by a reputable registered land surveyor prior to giving the Closing (the “Survey”). In the event Purchaser does cause the Property to be so surveyed, the property description to be included in the Deed shall be prepared from the Survey (to the extent consistent with the deed into Seller, and then only if such Survey is certified to Seller).

Title/Survey. Good and marketable title in fee simple to the Residual City Parcel shall be conveyed by City to Developer at the Developer Option Closing, free and clear from all liens, encumbrances, covenants and restrictions except for the Permitted Encumbrances and in the same Developable Condition as existed on the date of the ▇▇▇▇▇▇/▇▇▇▇ Parcels Closing. In connection therewith, Developer, at its option, may obtain at any time during the Developer Option Period at Developer’s sole cost and expense, an additional ALTA/ACSM survey of the Residual City Parcel together with a title insurance commitment relative to the Residual City Parcel prepared and issued, respectively, by a surveyor and a title insurance company selected by Developer.

Title/Survey. City will take title to the Land subject only to 1) matters of plat, existing zoning and government regulations, 2) oil, gas and mineral rights of record if there is no expressed or implied right of entry, 3) current taxes, 4) terms and conditions of that certain Parking Easement encumbering the Gulfshore Tract, dated November 19, 2004, and recorded at O.R. Book 3695, Page 1383, as amended in O.R. Book 5442, Page 1807, of the Public Records of ▇▇▇▇▇▇▇ County and as may be amended in the future by the City and the easement holder, and encumbrances that Landowners will discharge at or before Closing and any matters of record or visible upon the inspection of the Land and not objected to as provided below. City shall obtain a title commitment from a title agent selected by City within thirty (30) days of the date that the Replat is recorded. Further, Landowners will provide City a copy of the boundary survey prepared by Landowners in connection with the replat, which will be certified to City, and show all schedule B-2 exceptions listed on City’s title commitment. Within forty-five (45) days after the Replat is recorded, City will notify Landowners in writing of any objections in title revealed by the title commitment or survey which would, in City’s reasonable determination, prevent use of the Parking Garage Parcel for purposes of constructing a public parking garage for use by the general public, consistent with the terms and conditions of this Agreement (“Title and Survey Objections”). Landowners will make diligent, good faith efforts to remove said Title and Survey Objections prior to Closing, at Landowners’ expense. If, after diligent good faith efforts, Landowners cannot remove the Title and Survey Objections prior to Closing and provide notice to the City in writing of the same, then the parties may agree to extend the Closing in order to grant Landowners’ additional time necessary to remove or resolve the defects, the City may elect to accept the title as it then is and proceed to Closing, or the City may elect to terminate this Agreement by written notice to Landowners.

Title/Survey. No later than October 24, 2003, Seller shall deliver or cause to be delivered to Purchaser an as-built survey of the Property prepared by a surveyor licensed in the State of Oklahoma (the "Survey") certified to Purchaser, Purchaser's lender, if any, the Title Insurer and such other parties as Purchaser shall designate in writing to Seller prior to delivery of the Survey, and prepared in accordance with the Accuracy Standards and Minimum Standard Detail Requirements for ALTA-ACSM Land Title Surveys as adopted by the American Land Title Association, the American Congress on Surveying and Mapping and the National Society of Professional Surveyors in 1999, and prepared in accordance with the items set forth in the Surveyor's Certificate and other requirements attached hereto as EXHIBIT "F" and made a part hereof. Seller shall be responsible to pay for the costs of the Survey up to a total cost of $1,000. Purchaser shall pay the costs of the Survey in excess of $1,000. Notwithstanding the foregoing, if the cost of the Survey is expected to exceed the amount that Seller is obligated to pay, then, prior to ordering the same, Seller shall obtain Purchaser's prior approval of the cost thereof. Any and all references contained in this Agreement to the "Survey" and the "As-Built Survey" shall mean and refer to the Survey. No later than three (3) days after the Effective Date, Purchaser shall, at Seller's sole cost and expense, order from the Title Insurer (as defined hereinbelow) a commitment for an ALTA Owner's Title Insurance Policy (the "Title Commitment") for the Property, together with legible copies of any and all title exception documents referenced therein, issued by Chicago Title Insurance Company (the "Title Insurer") in the amount of the Purchase Price of the Property, showing Seller as owner of the Property in fee simple, subject only to the title exceptions approved or deemed approved by Purchaser pursuant to this Paragraph 5 (each a "PERMITTED EXCEPTION"), and other exceptions pertaining to liens or encumbrances of a definite or ascertainable amount (which, in the aggregate, do not exceed that portion of the Purchase Price payable to Seller on the Closing Date) which may be removed by the payment of money at closing and which Seller shall so remove, and providing for full extended coverage over all general title exceptions contained in such Title Commitment and the following special endorsements (collectively, the "SPECIAL TITLE ENDORSEMENTS"): Zoning E...

Title/Survey. Within ten (10) days of the date hereof, the Seller shall provide to the Purchaser the following title documents (the "Title Documents"): A copy of Seller's existing fee policy of title insurance and a copy of Seller's most recent survey (Seller is not obligated to obtain a new survey). Within thirty (30) days after receiving the Title Documents and updated survey of the Property, Purchaser shall notify the Seller of objections Purchaser has to title and survey matters. Within ten (10) days after such notification, the Seller shall notify the Purchaser whether the Seller is willing to cure such defects. If the Seller is willing to cure such defects, the Seller shall act promptly and diligently to cure such defects at its expense. If such defects consist of deeds of trust, mortgages, mechanics' liens, tax liens or other liens or charges in a fixed sum or capable of computation as a fixed sum, the Seller shall pay and discharge or shall bond off with a bonding company acceptable to the Purchaser (and the Escrow Agent is authorized to pay and discharge at Closing) such defects at Closing. If Purchaser's title commitment discloses title defects affecting marketability of title or adversely affecting access to or use of the Property as hotels, which defects are not capable of computation as a fixed sum, then Seller shall use its best efforts to cure such defect. If the Seller is unwilling or unable to cure any other such defects by Closing, the Purchaser shall elect (1) to waive such defects and proceed to Closing without any abatement in the Purchase Price or (2) to terminate this Agreement and receive a full refund of the ▇▇▇▇▇▇▇ Money and cancellation of the Letter of Credit (as hereinafter defined). The Seller shall not, after the date of this Agreement, subject the Property to any liens, encumbrances, covenants, conditions, restrictions, easements or other title matters or seek any zoning changes or take any other action which may affect or modify the status of title without the Purchaser's prior written consent. All title matters revealed by the Purchaser's title examination and not objected to by the Purchaser as provided above shall be deemed Permitted Title Exceptions. If Purchaser shall fail to examine title and notify the Seller of any such title objections as set forth herein, all such title exceptions (other than those rendering title unmarketable and those that are to be paid at Closing as provided above) shall be deemed Permitted Title Exceptions...