Title Commitment and Survey Clause Samples
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Title Commitment and Survey. (a) Buyer has received and reviewed a copy of the Title Commitment and the Existing Survey. Buyer is solely responsible for obtaining any updated title commitments, surveys, or any other title related matters Buyer desires with respect to the Assets at Buyer’s sole cost and expense. Buyer shall have until not later than 5:00 p.m. Eastern Time on the date that is no later than ten (10) days prior to the end of the Due Diligence Period (the “Title Report Objection Date”), to notify Seller’s attorney in writing (the “Title Report Objection Notice”) as to any items shown on the Title Commitment (as updated if applicable) that Buyer believes are not Permitted Exceptions. Buyer’s failure to timely deliver the Title Report Objection Notice on or prior to the 5:00 p.m. Eastern Time on the Title Report Objection Date shall constitute Buyer’s irrevocable acceptance of the Title Commitment and Buyer shall be deemed to have unconditionally waived any right to object to any matters set forth therein. If Buyer timely delivers a Title Report Objection Notice, Seller shall have seven (7) days after receipt of such notice to notify Buyer (i) that Seller will remove or cause to be removed such objectionable exceptions from title on or before the Closing, in which case the provisions of subsection 8.3(b) shall apply; or (ii) that Seller elects not to cause such exceptions to be removed at which time Buyer may elect, prior to the end of the Due Diligence Period, to accept the Title in its current condition or terminate this Agreement in which event the Deposit shall be promptly delivered to Seller and the parties shall have no further obligations to each other except for those that expressly survive the termination of this Agreement. Nothing in this subsection shall require Seller, despite any election by Seller to attempt to discharge any title exceptions, to take or bring any action or proceeding or any other steps to remove any title exception or to expend any moneys therefor, other than with respect to the Pre-Effective Date Seller Encumbrances, Post Effective Date Monetary Encumbrances and Post Effective Date Seller Encumbrances (as hereinafter defined) pursuant to Section 8.3 of this Agreement.
Title Commitment and Survey. 3.1. Attached hereto as Exhibit D is a copy of a title commitment for an owner's standard title insurance policy issued by First American Title Insurance Company (hereinafter referred to as "Title Insurer") dated July 12, 1996 as to real property located in Fulton County, Georgia and Augus▇ ▇▇, 1996 as to real property located in DeKalb County, Georgia for the Property (the "Title Commitment"). For purposes of this Agreement, "Permitted Exceptions" shall mean: (a) general real estate taxes, association assessments, special assessments, special district taxes and related charges not yet due and payable for any tax years of the Closing Date or thereafter; (b) matters shown on the "Survey" (hereinafter defined); (c) matters caused by the actions of Purchaser; and (d) the title exceptions set forth in Schedule B Part II of the Title Commitment as Numbers 7 and 9 through 16 inclusive, to the extent that same affect the Property. All other exceptions to title shall be referred to as "Unpermitted Exceptions". On the Closing Date, it will be a condition of Purchaser's obligation to close that Title Insurer shall deliver to Purchaser a standard title policy in conformance with the previously delivered Title Commitment, subject only to Permitted Exceptions and Unpermitted Exceptions waived by Purchaser (the "Title Policy"). Seller and Purchaser shall each pay for one-half of the costs of the Title Commitment and the Title Policy and Purchaser shall pay for the cost of any endorsements to, or extended coverage on, the Title Policy. It shall also be a condition of Purchaser's obligation to close hereunder that the Title Company agree to issue those endorsements and special coverage requested by Purchaser set forth on Exhibit S.
Title Commitment and Survey. Owner JV has received, reviewed, accepted and approved (i) a commitment for title insurance or preliminary title report from the Title Company with respect to the Property (the “Title Commitment”), and (ii) a survey of the Property (the “Survey”).
Title Commitment and Survey. 3.1. Attached hereto as Exhibit D is a copy of a title commitment for an owner's standard title insurance policy issued by Charter Title Company on behalf of Lawyers Title Insurance Corporation (hereinafter referred to as "Title Insurer") with an effective date of March 2, 1997 for the Property (the "Title Commitment"). For purposes of this Agreement, "Permitted Exceptions" shall mean: (a) the general printed exceptions contained in the standard title policy to be issued by Title Insurer based on the Title Commitment; (b) general real estate taxes, association assessments, special assessments, special district taxes and related charges not yet due and payable; (c) matters shown on the "Existing Survey" (hereinafter defined); (d) matters caused by the actions of Purchaser; and (e) the title exceptions set forth in Schedule B of the Title Commitment as Numbers 2, 3, 4, 9, to the extent that same affect the Property. All other exceptions to title shall be referred to as "Unpermitted Exceptions". The Title Commitment shall be conclusive evidence of good title as therein shown as to all matters to be insured by the title policy, subject only to the exceptions therein stated. On the Closing Date, Title Insurer shall deliver to Purchaser a standard title policy in conformance with the previously delivered Title Commitment, subject to Permitted Exceptions and Unpermitted Exceptions waived by Purchaser (the "Title Policy"). Seller and Purchaser shall each pay for one-half of the costs of the Title Commitment and Title Policy including one half of the cost of the survey endorsement.
Title Commitment and Survey. (i) As soon as reasonably practicable following the date of this Agreement, the Sellers and the Investor shall use commercially reasonable efforts to cause one or more title companies reasonably acceptable to Investor (collectively, the “Title Company”), to furnish Investor and its counsel a current owner’s standard form Texas title policy commitment (the “Title Commitment”) describing and covering each fee owned portion of the Company Real Property (each such property covered by a Title Commitment, the “Insured Property”), listing Marine Transportation as the prospective named insured, showing title in the respective Seller, and committing to issue an owner’s standard form Texas title policy underwritten by a title insurance company or companies acceptable to Investor in the amount of the value of the land and improvements located thereon. The Sellers shall cause the Title Company to deliver to Marine Transportation clear and legible copies of all instruments listed or referenced in each Title Commitment as exceptions or encumbrances to title to each Insured Property at the time each Title Commitment is delivered.
(ii) As soon as reasonably practicable following the date of this Agreement, the Sellers shall deliver to Investor, Investor’s counsel and the Title Company a copy of a survey plat prepared, at the Investor’s expense, by a registered public surveyor approved by the Title Company and the Investor, reflecting the results of a new or updated on the ground survey (the “Survey”) of each Insured Property. Each Survey shall be in form and substance acceptable to Investor and shall be in form and substance acceptable to the Title Company as a basis for issuing the form of owner’s title insurance policy that the Title Company is required to deliver to Investor at the Closing. Prior to the Closing, each Survey shall be certified to Investor and the Title Company and shall contain such form of ALTA or similar certification as Investor and the Title Company may require.
(iii) The Sellers shall use reasonable efforts to cure Investor’s title objections.
(iv) Investor shall have the option to obtain, at or prior to Closing at Investor’s expense, an owner’s standard form Texas title policy or its equivalent) (the “Title Policies”) insuring good and infeasible title to any Insured Property from the applicable Title Company that issued a Title Commitment on such Insured Property, each of which Title Policies shall be on the prescribed form of TLTA Owner Policy o...
Title Commitment and Survey. With the exception of the survey referred to in Section 5(c) below which shall be obtained by the Purchaser, the Seller shall, at its expense, obtain within thirty (30) days after the Acceptance Date:
a) a commitment for an ALTA Form B owner's title insurance policy (the "Title Commitment') issued by the Title Company in the amount of the Purchase Price showing fee simple title to the Real Estate to be held by the Seller, with extended coverage over general exceptions 1 through 5 which extended coverage will be provided so long as the Purchaser obtains a survey satisfactory to the Title Company for purposes of such extended coverage;
b) legible copies of all recorded documents shown on Schedule B of the Title Commitment (the "Title Documents"); and
c) plat of survey of the Real Estate prepared by an Illinois registered lead surveyor, dated after the date of this Agreement (the "Plat of Survey"), certified as having been prepared for the Purchaser, the Purchaser's lender, and. the Title Company. The Plat of Survey shall incorporate and indicate:
i) the legal description of the Real Estate;
ii) the boundary lines of the Real Estate;
iii) the location of all improvements on the Real Estate;
iv) all easements, set back lines, and rights-of-way, (whether recorded or visible) and the recorded document numbers, if any, of the documents granting the same;
v) the location of any wetlands and flood plains;
vi) ingress and egress to public roads;
vii) the number of acres of the Purchased Land, exclusive of the rights of way of public roads and highways, fence line encroachments, and the number of acres in, and the location of, the Restricted Parcel.
Title Commitment and Survey. Within two (2) business days following the Effective Date, Seller shall deliver to Purchaser a title insurance commitment issued by the Title Company for the issuance of a 2006 ALTA Owner's Title Policy covering the Real Property (the "Title Commitment") together with copies of each of the Schedule A and Schedule B underlying title documents and/or exceptions set forth therein and a survey of the Real Property (the "Existing Survey"). Within ten (10) business days following the Effective Date, Seller shall deliver to Purchaser an update of the Existing Survey made in accordance with the current Minimum Standard Detail Requirements for ALTA/ACSM Title Land Surveys, jointly established and adopted by ALTA and NSPS and includes Items 1, 2, 3, 4, 6, 7, 8, 9, 10, 11(a), 14, 16, 17, 18 and 21 of Table A (the "Survey"). In the event the Survey is not delivered within such ten (10) business day period, the Title Exam Deadline (as hereinafter defined) shall be extended for one day for each day of such delay until such date that the Survey is delivered to Purchaser. Costs of the Title Commitment and Survey shall be paid as provided in Section 4.5 below.
Title Commitment and Survey. Purchaser shall, at its cost, cause to be prepared and issued: (i) a commitment for title insurance (the “Title Commitment”) issued by Title Company with respect to the Real Property, in the amount of the Purchase Price with Purchaser as the proposed insured; and (ii) a current survey of the Real Property (the “Survey”), addressed to Purchaser, Title Company and such other parties as Purchaser may specify.
Title Commitment and Survey. Purchaser may, at its sole cost and expense, elect to obtain a title insurance commitment and/or survey regarding the Property.
Title Commitment and Survey. Seller shall obtain, at Seller's sole cost and expense, and deliver to Purchaser the title commitment on or before the expiration of ________ (___) business days after the Effective Date. Purchaser may obtain, at Purchaser's sole cost and expense, the Survey. Purchaser shall deliver a copy of the Survey, if any, to Seller promptly upon Purchaser's receipt of the Survey. In the event the Survey or the Title Commitment shows any matters that are reasonably unacceptable to Purchaser, Purchaser shall within three (3) business days after its receipt of the last of the title commitment and Survey (or receipt of the title commitment if Purchaser elects not to obtain a Survey) notify Seller of any such objections (and if no such objections are so made, title and Survey (if any) will be deemed acceptable for all purposes hereof).