Title to the Property. Borrower will warrant and defend (a) the title to the Property and every part thereof, subject only to Liens permitted hereunder (including Permitted Encumbrances) and (b) the validity and priority of the Liens of the Mortgage and the Assignment of Leases on the Property, subject only to Liens permitted hereunder (including Permitted Encumbrances), in each case against the claims of all Persons whomsoever. Borrower shall reimburse Lender for any losses, costs, damages or expenses (including reasonable attorneys' fees and court costs) incurred by Lender if an interest in the Property, other than as permitted hereunder, is claimed by another Person.
Title to the Property. Each Borrower owns either good, indefeasible and marketable fee simple or leasehold title to the applicable Individual Properties which it owns, free and clear of all Liens, other than the Permitted Encumbrances applicable to such Individual Property. There are no outstanding options to purchase or rights of first refusal affecting any Individual Property. The Permitted Encumbrances do not and are not likely to materially and adversely affect (i) the ability of any Borrower to pay in full all sums due under the Notes or any of its other obligations in a timely manner or (ii) the use of any Individual Property for the use currently being made thereof, the operation of such Individual Property as currently being operated or the value of any Individual Property.
Title to the Property. Title to the Property will be held in the name of the Company. No Member will individually have any ownership interest or rights in the Property, except indirectly by virtue of such Member’s ownership of a Membership Interest. The Members agree that the Property is not and will not be suitable for partition. Accordingly, each of the Members hereby irrevocably waives any and all right such Member may have to maintain any action for partition of any of the Property. No Member will have any right to seek or obtain a partition of the Property, nor will any Member have the right to any specific assets of the Company upon the liquidation of or any Distribution from the Company.
Title to the Property. (a) Borrower has and will continue to have good and marketable title in fee simple absolute to the Land and the Improvements and good and marketable title to the Fixtures and Personal Property, all free and clear of liens, encumbrances and charges except the Permitted Exceptions. To Borrower’s knowledge, there are no facts or circumstances that might give rise to a lien, encumbrance or charge on the Property.
Title to the Property. Good and marketable fee simple record --------------------- title to the Land and Improvements shall be conveyed by Seller to Purchaser by Special Warranty Deed, free and clear of all liens, easements, restrictions, and encumbrances whatsoever, excepting only the matters set forth on Exhibit "I" attached hereto and by this reference made ---------- a part hereof (hereinafter referred to as the "Permitted Exceptions"). Seller covenants and agrees that Seller, at its sole cost and expense, shall, within five (5) days after the effective date of this Agreement, cause Chicago Title Insurance Company (herein referred to as "Title Company") to deliver to Purchaser its commitment (herein referred to as the "Title Commitment") to issue to Purchaser upon the recording of the Special Warranty Deed conveying title to the Land and Improvements from Seller to Purchaser, the payment of the Purchase Price, and the payment to the Title Company of the policy premium therefor, an ALTA owner's policy of title insurance, in the amount of the Purchase Price, insuring good and marketable fee simple record title to the Land and Improvements to be in Purchaser. The Title Commitment shall not contain any exception for mechanic's or materialmen's liens or any exception for unpaid taxes other than and exception for taxes for years subsequent to 2001 not yet due or payable. Such Title Commitment shall not contain any exception for rights of parties in possession other than an exception for the rights of the Tenant (as hereinafter defined), as tenant only, under the Lease. The Title Commitment shall not contain an exception for the state of facts which would be disclosed by a survey of the Property or an "area and boundaries" exception, and in lieu thereof, the Title Commitment shall contain an exception only for the matters shown on the as-built survey to be provided by Seller to Purchaser in accordance with Paragraph 9(e) hereof. The Title Commitment shall also contain such other special endorsements available to be issued in Florida as Purchaser shall reasonably require (the "Endorsements"). Seller shall also cause to be delivered to Purchaser together with such Title Commitment, legible copies of all documents and instruments referred to therein. Purchaser, upon receipt of the Title Commitment and the copies of the documents and instruments referred to therein, shall then have until the date of Closing during which to examine same after which Purchaser shall notify Seller of any d...
Title to the Property a. At the Closing, Seller shall convey to Purchaser indefeasible and insurable fee simple title to the Land and the Improvements, by one or more duly executed and acknowledged special warranty deeds in the form attached hereto as Exhibit C (collectively, the "Deed"). Evidence of delivery of indefeasible and insurable fee simple title shall be the issuance by Title Company to Purchaser of a Texas Owner's Policy of Title Insurance (Form T-1) in the amount of the Purchase Price (the "Title Policy"), insuring fee simple title to the Land and the Improvements in Purchaser, subject only to such exceptions as Purchaser shall approve pursuant to Subparagraph 5(a) below (the "Permitted Exceptions"). The Title Policy shall contain such special endorsements as Purchaser may reasonably require, including, without limitation, the amendment of the survey exception to read "shortages in area" only (the "Endorsements"). The Title Company shall also provide for reinsurance with direct access with such companies and in such amounts as Purchaser shall reasonably request.