Common use of Unit Deed Clause in Contracts

Unit Deed. Upon full payment of the Total Purchase Price and all other payments required hereunder, Seller shall convey the Unit by Warranty Deed (the "Deed") running to Buyer, as joint tenants unless otherwise designated. The Deed shall convey a good and clear record and insurable title to the Unit, free of all liens and encumbrances, and insurable as such, except and subject to: (a) Provisions of (i) the Act, as the same may be amended from time to time and (ii) the Declaration as the same may be amended from time to time by instrument recorded in the Registry of Deeds; (b) Existing rights, obligations, approvals, easements, restrictions, licenses, covenants and conditions reserved or contained or referenced in the Declaration; (c) Such taxes and assessments allocable to the Unit for the then current fiscal year as are not due and payable on the date of delivery of the deed; (d) The laws and regulations of the State of Maine and municipal ordinances, including zoning restrictions, and the terms of land use approvals; (e) All utility easements of record and rights, restrictions, reservations and obligations as noted on any recorded plans and survey or in the Declaration; (f) All bylaws, rules and regulations established by the Condominium Association; and (g) Other matters, easements and encumbrances of record not adversely affecting the beneficial use and enjoyment of the Unit by Buyer or which may be affirmatively insured against forced removal, loss or damage by a national title insurance company without payment of an additional premium. Seller may use the purchase money or any portion thereof to clear the title of any or all encumbrances or interests. ▇▇▇▇▇ acknowledges and agrees that ▇▇▇▇▇▇ EDGE FARM CONDOMINIUMS is a phased condominium development. Buyer consents to such future phased development by Seller and its affiliated entities, and agrees not to oppose such future phased development, provided that Seller, and/or its affiliates, complies with its obligations to Buyer as set forth herein. In the event Buyer opposes such future phased development in violation of the terms of this Agreement, damages may not be an adequate remedy for the Seller, its successors and/or assigns, and its affiliates (the “Damaged Parties”), and therefore the Damaged Parties shall be entitled to an injunction prohibiting such persons from opposing such development.

Unit Deed. Upon full payment satisfaction of the Total Purchase Price and all other payments required hereunderBuyer’s obligations to Seller under this Agreement, Seller shall convey the Unit by Warranty Deed (the "Deed") running to Buyer, as joint tenants unless otherwise designatedBuyer on the Closing Date. The Deed shall convey a good and clear record and insurable title to the UnitUnit in fee simple with good and insurable title, free of all liens and encumbrances, and insurable as such, except and subject to: (a) Provisions of (i) the Act, as the same may be amended from time to time and (ii) the Declaration as the same may be amended from time to time by instrument recorded in the Cumberland County Registry of Deeds; (b) Existing rights, obligations, approvals, easements, restrictions, licenses, covenants and conditions reserved or contained or referenced in the Declaration; (c) Such taxes and assessments allocable to the Unit for the then current fiscal year as are not due and payable on the date of delivery of the deed; (d) The laws and regulations of the State of Maine Maine, and municipal ordinancesordinances and regulations, including zoning restrictions, and the terms of land use approvalsand zoning restrictions of the City of Westbrook, Maine; (e) All To any utility easements of record and rights, restrictions, reservations and obligations as noted on any recorded plans and survey or in the Declarationsurvey; (f) All bylaws, To all rules and regulations established by the Condominium Association; and (g) Other matters, easements and encumbrances of record not adversely affecting the beneficial use and an enjoyment of the Unit by Buyer. If Seller is unable to convey the Condominium in accordance with the provisions of this Section 10, then Seller in its sole discretion shall have a reasonable period of time, not to exceed thirty business days, from the ▇▇▇▇ ▇▇▇▇▇▇ receives written notice of the defect, unless otherwise agreed to in writing by the parties, to remedy the defect, after which time, if such defect is not corrected, Buyer either may within ten (10) days thereafter, at Buyer’s option, withdraw said amount held in the Escrow Account and neither party shall have any further obligation hereunder, or which Buyer may, at Buyer’s option close notwithstanding such uncured defects as may then exist. Such written notice of a title defect must be affirmatively insured against forced removal, loss or damage by given to Seller no later than ten (10) days prior to the Closing Date and failure to timely notify Seller shall be deemed a national title insurance company without payment waiver of an additional premiumany such defects. Seller may use the purchase money or any portion thereof to clear the title of any or all encumbrances or interests. ▇▇▇▇▇ acknowledges and agrees that ▇▇▇▇▇▇ EDGE FARM CONDOMINIUMS is a phased condominium development. Buyer consents to such future phased development by Seller and its affiliated entities, and agrees not to oppose such future phased development, provided that Seller, and/or its affiliates, complies with its obligations to Buyer as set forth herein. In the event Buyer opposes such future phased development in violation of the terms of this Agreement, damages may not be an adequate remedy for the Seller, its successors and/or assigns, and its affiliates (the “Damaged Parties”), and therefore the Damaged Parties shall be entitled to an injunction prohibiting such persons from opposing such development.