Common use of Review of Title Commitment Clause in Contracts

Review of Title Commitment. Buyer shall have until sixty (60) days after it has received the Title Commitment (or if Buyer or the Title Company requires a Survey, Title Commitment and Survey (the “Review Period”) in which to notify Seller in writing of any objections Buyer has to any matters shown or referred to in the Title Commitment or Survey (“Buyer’s Objections”). Any exceptions or other items that are set forth in the Title Commitment or Survey and to which Buyer does not object within the Review Period shall be deemed to be permitted exceptions (“Permitted Exceptions”). With regard to items to which Buyer does object within the Review Period, Seller shall notify Buyer within fifteen (15) days after Seller receives Buyer’s Objections of any exceptions to title which Seller will not remove or otherwise resolve (“Seller’s Response”), and Buyer may, at Buyer’s option, either proceed to Closing and thereby waive the Buyer’s Objections not cured, in which case such exceptions to title shall be deemed and shall be included as Permitted Exceptions, or Buyer may terminate this Agreement by notice to Seller within ten (10) days after receipt of Seller’s Response. If the Title Company issues a supplement to the Title Commitment or Survey that identifies new exceptions, the procedure set forth in this Section 4.3 shall apply to such supplement, except that Buyer will have ten (10) days to make Buyer’s Objections to any new exception, Seller shall have seven (7) days to provide Seller’s Response, Buyer shall have ten (10) days to either terminate this Agreement by notice to Seller or proceed to Closing and thereby waive the Buyer’s Objections to the new exceptions not cured, in which case such exceptions to title shall be deemed and shall be included as Permitted Exceptions. The Closing Date will be extended for the period necessary to allow the procedures set forth herein to be completed with regard to a timely objection.

Review of Title Commitment. Buyer shall be deemed to have until sixty (60) days after it has received accepted the Title Commitment (or if Commitment, and all exceptions thereto, unless Buyer or the Title Company requires a Survey, Title Commitment and Survey (the “Review Period”) in which shall give Notice to notify Seller in writing of any objections Buyer has to any matters shown or referred to disapproved exceptions in the Title Commitment or Survey within thirty (“Buyer’s Objections”). Any exceptions or other items that are set forth in the Title Commitment or Survey and to which Buyer does not object within the Review Period shall be deemed to be permitted exceptions (“Permitted Exceptions”). With regard to items to which Buyer does object within the Review Period, Seller shall notify Buyer within fifteen (1530) days after Seller receives Buyer’s Objections of receipt thereof. If Buyer so objects to any exceptions to title which in the Preliminary Commitment, Seller will not remove or otherwise resolve (“Seller’s Response”)shall, and Buyer may, at Buyer’s option, either proceed to Closing and thereby waive the Buyer’s Objections not cured, in which case such exceptions to title shall be deemed and shall be included as Permitted Exceptions, or Buyer may terminate this Agreement by notice to Seller within ten (10) days after receipt receiving Buyer’s Notice of objections, deliver to Buyer Notice that either (a) Seller will, at Seller’s Responseexpense, cause some or all of the exception(s) to which Xxxxx has objected to be removed at or prior to Closing, or (b) Seller is unwilling or unable to eliminate such exception(s). If the Title Company issues a supplement Seller fails to the Title Commitment so notify Buyer or Survey that identifies new exceptions, the procedure set forth in this Section 4.3 shall apply is unwilling or unable to remove any such supplement, except that Buyer will have ten (10) days exception at or prior to make Buyer’s Objections to any new exception, Seller shall have seven (7) days to provide Seller’s ResponseClosing, Buyer shall have ten (10) days may elect to either terminate this Agreement by notice Notice to Seller or proceed to Closing and thereby waive delivered no later than five (5) days after the Buyerdeadline for Seller’s Objections to 10-day notice as described in the new exceptions not curedimmediately preceding sentence, in which case such exceptions event the full Xxxxxxx Money shall be refunded to title Buyer, and Buyer and Seller shall have no further obligations under this Agreement. If Buyer does not terminate this Agreement pursuant to the immediately preceding sentence, then Buyer shall be deemed to have waived, and at Closing shall receive and accept title to the Property subject to, any objectionable exceptions that Seller has not agreed to remove, all of which exceptions shall be included as Permitted Exceptions. If any new title matters are disclosed in a supplemental title report (a “Supplemental Report”) or related document, the proceeding objection, Seller response and termination / waiver provisions shall apply to the new title matters, except that Buyer's Notice of objections must be delivered within seven (7) days of delivery of the Supplemental Report or document and Seller’s response must be delivered within five (5) days of Buyer's Notice of objections. The Closing Date will shall be extended to the extent necessary to permit time for the period necessary to allow the procedures set forth herein foregoing Notices. If Seller gives Notice that it will cause one or more objectionable non-monetary exception to be completed removed but fails to remove any of them on or before the Closing Date, Buyer will have the right in its sole discretion to either (A) proceed with regard the purchase and take the Property subject to a timely objectionthose non- monetary exceptions not approved by Buyer, with reduction of the Purchase Price equal to the actual cost of removing from title those exceptions, or (B) terminate this Agreement in which case Buyer shall promptly be refunded the full Xxxxxxx Money.

Review of Title Commitment. Buyer shall have until sixty ten (6010) business days after it has received the receipt of the Title Commitment (or if Buyer or and a survey of the Title Company requires a Survey, Title Commitment and Survey Real Property (the “Review Period”) in which to notify Seller in writing of any objections Buyer has to any matters shown or referred to in the Title Commitment or Survey such survey (“Buyer’s Objections”). Any exceptions or other items that are set forth in the Title Commitment or Survey and to which Buyer does not object within the Review Period shall be deemed to be permitted exceptions (“Permitted Exceptions”). With regard to items to which Buyer does object within the Review Period, Seller shall notify Buyer within fifteen ten (1510) days after Seller receives Buyer’s Objections of any exceptions to title which Seller will not remove or otherwise resolve (“Seller’s Response”), and Buyer may, at Buyer’s option, either proceed to Closing and thereby waive the Buyer’s Objections not cured, in which case such exceptions to title shall be deemed and shall be included as Permitted Exceptions, or Buyer may terminate this Agreement by notice to Seller within ten (10) days after receipt of Seller’s Response. In the event of such termination, the Deposit shall be returned to Buyer and the Parties shall have no further obligations hereunder. If the Title Company issues a supplement to the Title Commitment or Survey that identifies new exceptions, with the exception of the Sound Transit Instruments, the procedure set forth in this Section 4.3 shall apply to such supplement, except that Buyer will have ten seven (107) days to make Buyer’s Objections to any new exception, Seller shall have seven five (75) days to provide Seller’s Response, Buyer shall have ten (10) days to either terminate this Agreement by notice to Seller or proceed to Closing and thereby waive the Buyer’s Objections to the new exceptions not cured, in which case such exceptions to title shall be deemed and shall be included as Permitted Exceptions. The Closing Date will be extended for the period necessary to allow the procedures set forth herein to be completed with regard to a timely objection.

Review of Title Commitment. Buyer shall have until sixty (60) days after it has received the Title Commitment (or if Buyer or the Title Company requires a Survey, Title Commitment and Survey (the “Review Period”) in which give written notice to notify Seller in writing of any objections Buyer has to any matters shown or referred to disapproved exceptions in the Title Commitment or Survey (“Buyer’s Objections”)Commitment. Any If Buyer so objects to any exceptions or other items that are set forth in the Title Commitment or Survey and to which Buyer does not object within the Review Period shall be deemed to be permitted exceptions (“Permitted Exceptions”). With regard to items to which Buyer does object within the Review PeriodCommitment, Seller shall notify Buyer shall, within fifteen (15) days after Seller receives receiving Buyer’s Objections written notice of any exceptions objections, deliver to title which Buyer written notice that either (a) Seller will not remove or otherwise resolve (“will, at Seller’s Response”)expense, and Buyer may, cause some or all of the exception(s) to which Xxxxx has objected to be removed at Buyer’s option, either proceed or prior to Closing and thereby waive the Buyer’s Objections not cured, in which case such exceptions to title shall be deemed and shall be included as Permitted ExceptionsClosing, or (b) Seller is unable to eliminate such exception(s). If Seller so fails to notify Buyer or is unable to remove any such exception at or prior to Closing, Buyer may elect to terminate this Agreement by written notice to Seller within delivered no later than ten (10) days after receipt of the deadline for Seller’s Response. If 15- day notice as described in the Title Company issues a supplement to the Title Commitment or Survey that identifies new exceptionsimmediately preceding sentence, the procedure set forth in this Section 4.3 shall apply to such supplement, except that which event Buyer will have ten (10) days to make Buyer’s Objections to any new exception, and Seller shall have seven (7) days to provide Seller’s Response, no further obligations under this Agreement. If Buyer shall have ten (10) days to either does not terminate this Agreement by notice to Seller or proceed to Closing and thereby waive the Buyer’s Objections pursuant to the new exceptions not curedimmediately preceding sentence, in which case such exceptions to title then Buyer shall be deemed to have waived, and at Closing shall receive and accept title to the Property subject to, any objectionable exceptions that Seller is unable to remove, all of which exceptions shall be included as Permitted Exceptions. If any new title matters are disclosed in a supplemental title report issued by the Title Company (a “Supplemental Report”) or related document, the proceeding objection, Seller response and termination / waiver provisions shall apply to the new title matters, except that Xxxxx's written notice of objections must be delivered within seven (7) days of delivery of the Supplemental Report or document and Seller’s response must be delivered within five (5) days of Buyer's written notice of objections. The Closing Date will (as defined below) shall be extended to the extent necessary to permit time for the period necessary to allow the procedures set forth herein foregoing notices. If Seller gives written notice that it will cause one or more objectionable non-monetary exceptions to be completed removed but is unable to remove any of them on or before the Closing Date, Buyer will have the right in its sole discretion to either (A) proceed with regard the purchase and take the Property subject to a timely objectionthose non-monetary exceptions not approved by Buyer, or (B) terminate this Agreement in which case Buyer shall have no further liability hereunder.

Review of Title Commitment. Buyer shall be deemed to have until sixty (60) days after it has received accepted the Title Commitment (or if Commitment, and all exceptions thereto, unless Buyer or the Title Company requires a Survey, Title Commitment and Survey (the “Review Period”) in which shall give Notice to notify Seller in writing of any objections Buyer has to any matters shown or referred to disapproved exceptions in the Title Commitment or Survey within thirty (“Buyer’s Objections”). Any exceptions or other items that are set forth in the Title Commitment or Survey and to which Buyer does not object within the Review Period shall be deemed to be permitted exceptions (“Permitted Exceptions”). With regard to items to which Buyer does object within the Review Period, Seller shall notify Buyer within fifteen (1530) days after Seller receives Buyer’s Objections of receipt thereof. If Buyer so objects to any exceptions to title which in the Preliminary Commitment, Seller will not remove or otherwise resolve (“Seller’s Response”)shall, and Buyer may, at Buyer’s option, either proceed to Closing and thereby waive the Buyer’s Objections not cured, in which case such exceptions to title shall be deemed and shall be included as Permitted Exceptions, or Buyer may terminate this Agreement by notice to Seller within ten (10) days after receipt receiving Buyer’s Notice of objections, deliver to Buyer Notice that either (a) Seller will, at Seller’s Responseexpense, cause some or all of the exception(s) to which Buyer has objected to be removed at or prior to Closing, or (b) Seller is unwilling or unable to eliminate such exception(s). If the Title Company issues a supplement Seller fails to the Title Commitment so notify Buyer or Survey that identifies new exceptions, the procedure set forth in this Section 4.3 shall apply is unwilling or unable to remove any such supplement, except that Buyer will have ten (10) days exception at or prior to make Buyer’s Objections to any new exception, Seller shall have seven (7) days to provide Seller’s ResponseClosing, Buyer shall have ten (10) days may elect to either terminate this Agreement by notice Notice to Seller or proceed to Closing and thereby waive delivered no later than five (5) days after the Buyerdeadline for Seller’s Objections to 10-day notice as described in the new exceptions not curedimmediately preceding sentence, in which case such exceptions event the full Xxxxxxx Money shall be refunded to title Buyer, and Buyer and Seller shall have no further obligations under this Agreement. If Buyer does not terminate this Agreement pursuant to the immediately preceding sentence, then Buyer shall be deemed to have waived, and at Closing shall receive and accept title to the Property subject to, any objectionable exceptions that Seller has not agreed to remove, all of which exceptions shall be included as Permitted Exceptions. If any new title matters are disclosed in a supplemental title report (a “Supplemental Report”) or related document, the proceeding objection, Seller response and termination / waiver provisions shall apply to the new title matters, except that Buyer's Notice of objections must be delivered within seven (7) days of delivery of the Supplemental Report or document and Seller’s response must be delivered within five (5) days of Buyer's Notice of objections. The Closing Date will shall be extended to the extent necessary to permit time for the period necessary to allow the procedures set forth herein foregoing Notices. If Seller gives Notice that it will cause one or more objectionable non-monetary exception to be completed removed but fails to remove any of them on or before the Closing Date, Buyer will have the right in its sole discretion to either (A) proceed with regard the purchase and take the Property subject to a timely objectionthose non- monetary exceptions not approved by Buyer, with reduction of the Purchase Price equal to the actual cost of removing from title those exceptions, or (B) terminate this Agreement in which case Buyer shall promptly be refunded the full Xxxxxxx Money.

Review of Title Commitment. Buyer shall have until sixty (60) days after it has received the Title Commitment (or if Buyer or the Title Company requires a Survey, Title Commitment and Survey (the “Review Period”) in which give written notice to notify Seller in writing of any objections Buyer has to any matters shown or referred to disapproved exceptions in the Title Commitment or Survey (“Buyer’s Objections”)Commitment. Any If Buyer so objects to any exceptions or other items that are set forth in the Title Commitment or Survey and to which Buyer does not object within the Review Period shall be deemed to be permitted exceptions (“Permitted Exceptions”). With regard to items to which Buyer does object within the Review PeriodCommitment, Seller shall notify Buyer shall, within fifteen (15) days after Seller receives receiving Buyer’s Objections written notice of any exceptions objections, deliver to title which Buyer written notice that either (a) Seller will not remove or otherwise resolve (“will, at Seller’s Response”)expense, and cause some or all of the exception(s) to which Buyer may, has objected to be removed at Buyer’s option, either proceed or prior to Closing and thereby waive the Buyer’s Objections not cured, in which case such exceptions to title shall be deemed and shall be included as Permitted ExceptionsClosing, or (b) Seller is unable to eliminate such exception(s). If Seller so fails to notify Buyer or is unable to remove any such exception at or prior to Closing, Buyer may elect to terminate this Agreement by written notice to Seller within delivered no later than ten (10) days after receipt of the deadline for Seller’s Response. If 15- day notice as described in the Title Company issues a supplement to the Title Commitment or Survey that identifies new exceptionsimmediately preceding sentence, the procedure set forth in this Section 4.3 shall apply to such supplement, except that which event Buyer will have ten (10) days to make Buyer’s Objections to any new exception, and Seller shall have seven (7) days to provide Seller’s Response, no further obligations under this Agreement. If Buyer shall have ten (10) days to either does not terminate this Agreement by notice to Seller or proceed to Closing and thereby waive the Buyer’s Objections pursuant to the new exceptions not curedimmediately preceding sentence, in which case such exceptions to title then Buyer shall be deemed to have waived, and at Closing shall receive and accept title to the Property subject to, any objectionable exceptions that Seller is unable to remove, all of which exceptions shall be included as Permitted Exceptions. If any new title matters are disclosed in a supplemental title report issued by the Title Company (a “Supplemental Report”) or related document, the proceeding objection, Seller response and termination / waiver provisions shall apply to the new title matters, except that Buyer's written notice of objections must be delivered within seven (7) days of delivery of the Supplemental Report or document and Seller’s response must be delivered within five (5) days of Buyer's written notice of objections. The Closing Date will (as defined below) shall be extended to the extent necessary to permit time for the period necessary to allow the procedures set forth herein foregoing notices. If Seller gives written notice that it will cause one or more objectionable non-monetary exceptions to be completed removed but is unable to remove any of them on or before the Closing Date, Buyer will have the right in its sole discretion to either (A) proceed with regard the purchase and take the Property subject to a timely objectionthose non-monetary exceptions not approved by Buyer, or (B) terminate this Agreement in which case Buyer shall have no further liability hereunder.