Survey and Title Review Sample Clauses

Survey and Title Review. 5.1 Purchaser shall have a period until the date of Closing in which to review and approve the Title Commitment and the Survey (the "Title Inspection Period"). If the information to be provided pursuant to Sections 4.1(a) and (b) reflects or discloses any defect, exception, or other matter affecting the Property ("Title Defects") that is unacceptable to Purchaser, then prior to the expiration of the Title Inspection Period, Purchaser shall provide Seller with written notice of Purchaser's objections. Seller may, at its sole option, elect to cure or remove the objections raised by Purchaser; provided, however, that Seller shall have no obligation to do so, except Seller must remove each of the following (the "Mandatory Cure Matters"): any deeds of trust securing borrowed money against the Property and each conveyance of an interest in any of the Property made after September 15, 2000 by Seller. Should Seller elect to attempt to cure or remove the objections, Seller shall have ten (10) days from the date of Purchaser's written notice of objections (the "Cure Period") in which to accomplish the cure. In the event Seller either elects not to cure or remove the objections or is unable to accomplish same prior to the expiration of the Cure Period, then Purchaser shall be entitled, as Purchaser's sole and exclusive remedy, either to terminate this Contract by providing written notice of termination to Seller within five (5) days from the date of expiration of the Cure Period or waive the objections and close the sale of the Property as otherwise contemplated herein. The Title Inspection Period shall be deemed to be extended through the Cure Period and the five (5) day period thereafter during which time Purchaser has the right to terminate the Contract. Should Purchaser terminate the Contract due to Title Defects during such five (5) day period, Purchaser shall receive a refund of the Xxxxxxx Money. If the Purchaser shall fail to notify Seller in writing of any objections to the state of Seller's title to the Property as shown by the Title Commitment and the Survey to be provided to Purchaser pursuant to Sections 4.1(a) and (b) hereof, then Purchaser shall be deemed to have no objections to the state of Seller's title to the Property as shown by the Title Commitment and the Survey, and any exceptions to Seller's title which have not been objected to by Purchaser and which are shown on the Survey or described in the Title Commitment shall be considered to be "Perm...
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Survey and Title Review. Within ten (10) days of the receipt by Buyer of the later of the Title Commitment or the Existing Survey (but in no event later than five (5) Business Days prior to the expiration of the Evaluation Period) (the “Title Objection Date”), Buyer shall notify Seller in writing of any matters appearing on the Title Commitment or the Existing Survey that are objectionable to Buyer (the “Title Objections”). If Buyer does not so notify Seller of its Title Objections on or before 5:00 p.m. Central Time on the Title Objection Date, Buyer shall be deemed to have accepted all matters referenced in the Title Commitment and all matters shown on the Existing Survey. Any matters contained in the Title Commitment and all matters shown on the Existing Survey to which Buyer does not object shall be deemed to be additional Permitted Exceptions. Buyer shall have three (3) Business Days from receipt of the Updated Survey (but in any event not later than five (5) Business Days prior to the expiration of the Evaluation Period) (the “Updated Survey Objection Date”) to notify Seller in writing of any new matters not appearing in the Existing Survey that are objectionable to Buyer (“New Survey Objections”). If Buyer does not notify Seller of any New Survey Objections on or before 5:00 p.m. Central Time on the Updated Survey Objection Date, Buyer shall be deemed to have accepted all matters shown on the Updated Survey. Any matters shown on the Updated Survey to which Buyer does not object shall be deemed to be additional Permitted Exceptions. Agreement of Sale and Purchase
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Survey and Title Review 
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Related to Survey and Title Review

  • Title Review Seller shall be obligated to clear any and all encumbrances of title of an ascertainable monetary amount (“Seller Liens”), which Seller’s Liens Seller shall cause to be satisfied and or released at or prior to Closing (with Seller having the right to apply the Purchase Price or a portion thereof for such purpose). Notwithstanding the foregoing, prior to the Due Diligence Date, Purchaser shall give notice (“Purchaser’s Title Notice”) to Seller of the existence of any encumbrances and defects in title to which Purchaser objects and that are not Permitted Encumbrances (“Title Objections”). Seller shall, within five (5) business days from receipt of Purchaser’s Title Notice, notify Purchaser of those Title Objections that Seller elects not to attempt to remove or correct, provided that failure of Seller to give said notice shall be deemed to mean that Seller shall remove or correct all of Purchaser’s Title Objections. In the event Seller elects to attempt to remove or correct Title Objections(s) and by the later of the Due Diligence Date or the date which is thirty (30) business days following Seller’s receipt of Purchaser’s Title Notice, Seller has not arranged for removal or correction of said Title Objections, then Purchaser shall either (i) terminate this Agreement in which event the Deposit shall be returned to Purchaser and the parties hereto shall have no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof, or (ii) accept the condition of the title to the Property as it then is, without diminution of the Purchase Price. If Purchaser fails to elect (i) above, then Purchaser shall be deemed to have elected (ii) above. Encumbrances and defects to title that are not included in Purchaser’s Title Objections and those Title Objections that are accepted pursuant to this subsection shall be deemed to be Permitted Encumbrances. Notwithstanding anything herein to the contrary, Seller’s Liens shall not be deemed Permitted Encumbrances. Recording fees for recording documents to discharge Title Objections and Seller’s Liens shall be borne by Seller.

  • Survey Buyer may obtain a survey of the Property before the Closing to assure that there are no defects, encroachments, overlaps, boundary line or acreage disputes, or other such matters, that would be disclosed by a survey ("Survey Problems"). The cost of the survey shall be paid by the Buyer. Not later than business days prior to the Closing, Buyer shall notify Seller of any Survey Problems which shall be deemed to be a defect in the title to the Property. Seller shall be required to remedy such defects within business days and prior to the Closing. If Seller does not or cannot remedy any such defect(s), Buyer shall have the option of canceling this Agreement, in which case the Xxxxxxx Money shall be returned to Buyer.

  • Title Report If no Additional Mortgage Policy is required with respect to such Additional Mortgaged Property, a title report issued by the Title Company with respect thereto, dated not more than 30 days prior to the date such Additional Mortgage is to be recorded and satisfactory in form and substance to Administrative Agent;

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