Evidence of Title. Evidence that title to a REO is held by the Trustee shall be submitted by the Servicer to the Master Servicer and, if applicable, to the Primary Mortgage Insurer and/or the Pool Insurer, within ten Business Days after marketable title to such REO has been acquired.
Evidence of Title. Within twenty (20) days after the Effective Date, or ten (10) days prior to the Closing Date, whichever is earlier, SELLER agrees to deliver to BUYER a title insurance commitment from a company authorized to insure titles in the state where the Property is located. Unless there is a defect in title to the Property that is not corrected prior to the Closing Date, BUYER may not object to untimely delivery of the title commitment. The title commitment shall commit to insure a marketable fee simple title in the BUYER upon the recording of the deed or other documents of conveyance. However, title to the Property shall be subject to the conditions in this Contract and to customary covenants, declarations, restrictions, zoning laws, easements, party wall agreements, special assessments, and community contracts of record as of the effective date of the title commitment. (“Permitted Exceptions”). BUYER shall have ten (10) days after receipt of the title commitment to notify SELLER in writing of any valid objections to title to the Property. SELLER shall then make a good faith effort to rectify any objections. If any valid title objections cannot be rectified by SELLER before the Closing Date and BUYER does not elect to waive the objections or extend the Closing Date, a reasonable time, not to exceed sixty (60) days, this Contract shall be canceled and the Xxxxxxx Money shall be returned to BUYER. SELLER agrees to provide and pay for an owner’s title insurance policy in the amount of the Purchase Price insuring marketable fee simple title in BUYER, subject to the Permitted Exceptions and with the exception of any liens, encumbrances on other matters affecting title to the Property created by BUYER or arising by virtue of BUYER’S activities or ownership. Mechanic’s Lien Coverage. If the applicable box in Paragraph 11 is checked, the policy shall also insure BUYER, as of the date of recording of the deed or other document of conveyance, against any lien, or right to a lien, for services, labor or material imposed by law and not shown by the public records. SELLER agrees to execute all affidavits and indemnities required by the title company for issuance of this coverage.
Evidence of Title. Seller shall deliver to Buyer a commitment to issue 32 an Owner’s Policy of Title Insurance issued by Xxxxxxx Abstract Company, 115 S. 00 Xxxxxxxx Xxxxxx, Xxxxxxxxxx, Xxxxxxxx, in the amount of purchase price, naming Buyer as 34 the insured, written by a title insurance company licensed in Missouri under the 35 provisions of Chapter 381 of the Revised Statutes of the State of Missouri, which policy 36 shall insure the owner’s title to be in the condition called for by this contract and which 37 commitment shall provide that said policy shall be issued forthwith after the Seller’s deed 38 shall be placed of record. After delivery of said title insurance commitment, Buyer shall 39 have 10 days to examine said title insurance commitment and notify Seller in writing of 40 any objections thereto. If there be any objections, Seller shall, within a reasonable time, 41 furnish to Buyer a new or amended title insurance commitment satisfying any such 42 objections, but if such commitment shall not be furnished within 15 days after said notice, 43 then Buyer, at Buyer’s election, may void this contract by written notice to the Seller prior 44 to the furnishings of such commitment, in which case all down-payment paid by the 45 Buyer shall be returned to the Buyer by the Seller. If the title defects are not corrected, or 46 if the failure to furnish said title commitment is due to the fact that the title defects cannot 47 be corrected to the satisfaction of either the Buyer or the Buyer’s examining attorney, then 48 this contract shall be void and the down payment shall be returned to Buyer, unless Buyer 49 gives notice to Seller in writing of Buyer’s election to waive such defects. 50
Evidence of Title. Not less than ten (10) days prior to closing, Selling Lessor shall obtain a commitment for an ALTA owner's policy of title insurance dated within thirty (30) days of the closing date, issued by a nationally recognized title insurance company selected by Selling Lessor (the "Title Company") in the amount of the Purchase Price determined pursuant to subparagraph (C)(i) above, naming Lessee as the proposed insured, and covering the fee simple title to the Leased Premises, and showing Selling Lessor vested with good title to portion of the Leased Premises being sold, subject only to the matters affecting title which were of record at the time Selling Lessor came into title to the Leased Premises and those matters which Lessee created, suffered or permitted to accrue during the term hereof. Such title commitment shall be conclusive evidence of good title. If Lessee shall make objection to the marketability of title, Selling Lessor shall have no obligation to make title marketable, but may withdraw Lessor's notice of intent to market the Premises.
Evidence of Title. Seller shall provide Buyer with a 2006 ALTA form title commitment (“Title Commitment”) for a 2006 ALTA Form Owner’s Title Insurance Policy, including extended coverage (“Title Policy”) issued by Chicago Title Insurance Company or such other reputable title insurance company as the parties agree (“Title Insurer”), covering the Premises in the amount of the Purchase Price showing merchantable record title to the Premises to be in Seller. At Closing, Seller shall cause the Title Insurer to issue the Title Policy to Buyer (in accordance with the Title Commitment provided for in this Section 9), subject only to the Permitted Objections and other matters approved or waived in writing by the Buyer. Within ten (10) days after Xxxxx’s receipt of the aforesaid Title Commitment, Buyer shall furnish to Seller written notification of any objections to or defects in title of record set forth in the Title Commitment. If Xxxxx fails to give said notice within said ten (10) day period, Buyer shall be deemed to have accepted all matters then affecting title to the Premises set forth in the Title Commitment (“Permitted Objections”). If Xxxxx does give said notice, Buyer shall be deemed to have accepted all matters set forth in the Title Commitment not set forth in the notice. After receipt of said notice, Seller shall have the right, at its election, to endeavor to cure such objections to or defects in title set forth therein and shall notify Buyer of such election within five (5) days. If Seller does elect to endeavor to cure such objections to or defects in title, it shall promptly commence and diligently pursue efforts to cure such objections. In the event Seller fails to cure Buyer’s objections to or defects in title within ten (10) days of receiving notice of such objections to or defects in title, or if Seller shall determine that its efforts to cure will not be successful, Buyer may either (i) waive such title objections to or defects in title and proceed with closing hereunder or (ii) terminate this Contract as provided in Section 11(g).
Evidence of Title. Not less than ten (10) days prior to closing, Lessee shall obtain a commitment for an TLTA owner's policy of title insurance dated within thirty (30) days of the closing date, issued by a nationally recognized title insurance company selected by Lessor (the "Title Company") in the amount of the Purchase Price determined pursuant to subparagraph (C)(i) above, naming Lessee as the proposed insured, and covering the fee simple title to the Leased Premises, and showing Lessor vested with good title to the Leased Premises subject only to the matters affecting title which were of record at the time Lessor came into title to the Leased Premises and those matters which Lessee created, suffered or permitted to accrue during the term hereof. Such title commitment shall be conclusive evidence of good title.
Evidence of Title. Seller shall deliver to Buyer a minimum of fifteen (15) days prior to Closing, a written commitment for title insurance in the amount of the purchase consideration disclosing merchantable title to the Real Estate in Seller, subject only to easements of record; taxes for 2021 and subsequent years; severed mineral ownership interests or leases granting the right to explore, mine or remove oil, gas or coal (all of Seller’s rights under any such leases will be assigned to Buyer, at Closing); the standard exceptions in title policies acceptable in the community; any liens which may be removed by Seller prior to or at closing; and acts done or suffered by or through Buyer; all of which matters shall not be deemed objections to Seller’s title (“Permitted Exceptions”). Buyer shall have ten (10) days after the delivery of a copy of the commitment to Buyer to cause said title commitment to be examined by an attorney and raise any title objections disclosed thereby which are not Permitted Exceptions. If there are such non- Permitted Exceptions, Buyer may terminate this Contract, receive a return of the xxxxxxx money and neither party shall have any further obligation to the other. After closing, Buyer shall be responsible for having the title policy issued. Seller shall pay all expenses relating to the title search, commitment for title insurance, and premiums for the Owner’s Policy insuring title in the Buyer in the amount of the Purchase Price. Buyer shall pay the costs of buyer’s search and exam additional premium(s) for any loan or mortgagee’s policy acquired for Buyer’s benefit, and any other extended coverage or endorsements requested by Buyer or Buyer’s Lender.
Evidence of Title. Not less than fourteen (14) days prior to closing, Seller will furnish Buyer with written commitment from a title insurance company duly authorized to do business in Illinois, showing title to said premises subject only to matters to which this sale is subject by the terms hereof and to the customary exceptions contained in owners policies issued by such company. If written commitment discloses defects in title other than matters to which this sale is subject by the terms hereof and the customary exceptions in such policies, then Seller shall have until date for delivery of deed to correct such defects. Owners title policy, in amount of the purchase price for said premises, will be paid for by the Seller and issued to Buyer after delivery of deed.
Evidence of Title. Xxxxxx agrees to furnish buyer, at Seller’s expense, unless the parties agree in writing to a different 263 arrangement, a current commitment and an owner’s title insurance policy in an amount equal to the Purchase Price as specified in 264 the Sale contract, or if this box is checked, An Abstract of Title certified to a current date.
Evidence of Title. Within a reasonable period after execution of this Contract and before closing, Seller shall provide Buyer an updated commitment to issue an ALTA title insurance policy in the amount of the purchase price, by First American Title Insurance Company (“Title Company”). Permissible exceptions to title shall be all matters and exceptions set forth on that certain commitment for title insurance with an effective date of and issued by the Title Company. If Buyer or Xxxxx’s lender requires title evidence of a type other than that which Seller chose to provide, then the additional cost, if any, occasioned by the title evidence required shall be at Buyer’s expense and no additional cost shall be chargeable to Seller.
