Common use of Title Work Clause in Contracts

Title Work. The DDA shall provide, at its expense, an owner’s policy of title insurance in the amount of $10,000 for the South 303 Abbot Parcel and the North 303 Abbot Parcel. Upon the execution of this Agreement, the Developer shall order, on the DDA’s behalf, a commitment for an owner’s policy of title insurance for the South 303 Abbot Parcel and the North 303 Abbot Parcel. Upon receipt of said commitment, the Developer and the City shall notify the DDA of any objections to the condition of the title, including any conditions reflected in the commitment which render title unmarketable, and, thereafter, the DDA shall have fourteen