Common use of TITLE SEARCH Clause in Contracts

TITLE SEARCH. The Purchaser shall examine the title to the Property at his own expense, and shall not call for the production of any surveys, title deeds, abstracts of title, grading, certificates, occupancy permits or certificates, nor any other proof or evidence of the title or occupiability of the Property, except such copies thereof as are in the Vendor’s possession. The Purchaser shall satisfy himself that the Property may be occupied in accordance with applicable municipal requirements and shall be allowed to submit his requisitions as to title and any other matters contemplated hereby, until fifteen (15) days prior to the Title Closing Date, and if within that time the Purchaser shall furnish the Vendor in writing with any valid objection to title, or to any outstanding work order, which the Vendor shall be unable or unwilling to remove, and which the Purchaser will not waive, then this Agreement shall, notwithstanding any intervening acts or negotiations, be null and void, and the deposits paid shall be returned without interest and without deduction save for any extras or changes ordered by the Purchaser and as yet unpaid, and the Vendor shall have no further obligation hereunder and shall not be liable for any costs or damage to the Purchaser. Save as to any valid objection so made within such time, the Purchaser shall be conclusively deemed to have accepted the title to the Property. The Purchaser further agrees to accept title from the registered owner of the Property and to accept such owner’s title covenants in lieu of the Vendor’s in the event that the Vendor is not the registered owner of the Property on the Title Closing Date. The Vendor shall be entitled to insert in the Transfer/Deed specific covenants by the Purchaser pertaining to any or all of the restrictions, easements, covenants and agreements referred to in this Agreement, and in such case, the Purchaser may be required to execute the Transfer/Deed prior to the Title Closing Date, and the Vendor may require in addition that the Purchaser deliver his separate written covenant on the Title Closing Date. The Purchaser shall not register, or cause to be registered, this Agreement on title to the Property and/or the Lands, nor any notice thereof, nor any caution or lis pendens with respect thereto, nor any certificate of pending litigation or other similar court process, until after the Title Closing Date, and any registration thereof in contravention of this provision shall constitute a fundamental breach of this Agreement, entitling the Vendor to the rights, remedies and provisions hereinafter set forth. The Purchaser acknowledges that prior to the Title Closing Date, the Building Department for the municipality shall verbally advise that the Unit is occupiable but that a final inspection shall not be conducted until the entire Condominium is substantially complete.

TITLE SEARCH. The Purchaser shall examine (e) Provided the title is good and free from all encumbrances except as herein provided, and except as to building and other restrictions, and to any easement or right of way granted or to be granted for installation and/or maintenance of services, T.V. transmission system, mutual driveways, environmental easements, easements for noise and vibration and for maintenance of adjoining dwellings, if applicable. Furthermore, title to the Property at his own expensemay be subject to encroachments by portions of the buildings located on abutting lands, including xxxxx, eavestroughing, or other attachments to the roofs, and shall the Purchaser further acknowledges that portions of the Dwelling may encroach onto abutting lands where the right to do so exists. The Purchaser further acknowledges that the Property may be subject to possible fence encroachments. The Purchaser is not to call for the production of any surveys, title deeds, abstracts of title, grading, certificates, occupancy permits abstract or certificates, nor any other proof or evidence of the title or occupiability of the Property, except such copies thereof as are in the possession of the Vendor’s possession. The Purchaser shall satisfy himself that the Property may be occupied in accordance with applicable municipal requirements and shall is to be allowed to submit his requisitions as to title and any other matters contemplated hereby, until fifteen thirty (1530) days prior to the Title Closing Date, to examine the title at his own expense and if if, within that time the Purchaser shall furnish the Vendor in writing with time, any valid objection to title, or title is made in writing to any outstanding work order, the Vendor which the Vendor shall be unable or unwilling to remove, remove and which the Purchaser will not waive, then waive this Agreement shallshall (except for the Purchaser's obligations for extras or changes), notwithstanding any intervening acts intermediate act or negotiations, negotiations be null and void, void and the deposits paid deposit monies shall be returned returned, without interest and without deduction save for any extras or changes ordered by the Purchaser and as yet unpaidinterest, and the Vendor shall have no further obligation hereunder and the Broker shall not be liable for any damages or costs whatsoever, including, without limiting the generality of the foregoing, loss of bargain, relocation costs, loss of income, professional fees and disbursements and any amount paid to third parties on account of decoration, construction or damage to the Purchaserfixturing costs. Save as to any valid objection so made within such time, the Purchaser shall be conclusively deemed to have accepted the title to the Property. The Purchaser further agrees to accept title from the registered owner of the Property and to accept such owner’s title covenants in lieu of the Vendor’s in the event that the Vendor is not the registered owner of the Property on the Title Closing Date. The Vendor shall be entitled to insert in the Transfer/Deed specific covenants by the Purchaser pertaining to any or all of the restrictions, easements, covenants and agreements referred to in this Agreement, and in such case, the Purchaser may be required to execute the Transfer/Deed prior to the Title Closing Date, and the Vendor may require in addition that the Purchaser deliver his separate written covenant on the Title Closing Date. The Purchaser shall not register, or cause to be registered, this Agreement on title to the Property and/or the Lands, nor any notice thereof, nor any caution or lis pendens with respect thereto, nor any certificate of pending litigation or other similar court process, until after the Title Closing Date, and any registration thereof in contravention of this provision shall constitute a fundamental breach of this Agreement, entitling the Vendor to the rights, remedies and provisions hereinafter set forth. The Purchaser acknowledges that prior to the Title Closing Date, the Building Department for the municipality shall verbally advise that the Unit is occupiable but that a final inspection shall not be conducted until the entire Condominium is substantially completeProperty.

TITLE SEARCH. The Purchaser shall examine Provided that on the Closing Date, title to the Property at his own expenseshall be good and marketable in fee simple, free from all encumbrances, save and except for the instruments registered against title to the Property as of the date hereof and listed in Schedule “C” (the “Permitted Encumbrances”) and other items disclosed to the Purchaser pursuant to this Agreement or any easements or agreements for public utilities required for the supply of utilities to the Property registered or unregistered against title, provided the same have been complied with in all material respects. If, by the last day of the Conditional Period, any valid objection to title is made in writing to the Vendor, and the Vendor is unable or unwilling to remove, remedy or satisfy these objections to title and in the event that the Purchaser will not waive them, this Agreement, notwithstanding any intermediate acts or negotiations in respect of such objections, shall be at an end and all moneys, including the deposit and interest accrued thereon, shall forthwith be returned to the Purchaser without deduction, abatement or set-off whatsoever. Except as may be otherwise contemplated by this Agreement, the Purchaser shall not call for the production of any surveystitle deed, title deeds, abstracts of title, grading, certificates, occupancy permits abstract or certificates, nor any other proof or evidence of the title or occupiability of to the Property, except such copies thereof as are in the possession or control of the Vendor’s possession. The Purchaser shall satisfy himself that be allowed until 6:00 p.m. on the next day after the Conditional Period to examine the title to the Property may be occupied in accordance and to satisfy itself with applicable municipal requirements respect to the matters referred to above and shall be allowed make requisitions to submit his requisitions as to title and the Vendor’s solicitors, but except for any other matters contemplated hereby, until fifteen (15) days valid requisition made prior to the Title Closing Date, and if within that time the Purchaser shall furnish the Vendor in writing with any valid objection to title, or to any outstanding work order, which the Vendor shall be unable or unwilling to remove, and which the Purchaser will not waive, then this Agreement shall, notwithstanding any intervening acts or negotiations, be null and void, and the deposits paid shall be returned without interest and without deduction save for any extras or changes ordered by the Purchaser and as yet unpaid, and the Vendor shall have no further obligation hereunder and shall not be liable for any costs or damage to the Purchaser. Save as to any valid objection so made within such time, the Purchaser shall be deemed conclusively deemed to have accepted the title of the Vendor to the Property. The Purchaser further Vendor agrees to accept title from the registered owner of the Property discharge at its own expense all liens, charges and to accept such owner’s title covenants in lieu of the Vendor’s in the event that the Vendor is not the registered owner of mortgages affecting the Property on or before the Title Closing Date. The Vendor shall be entitled to insert in Date other than the Transfer/Deed specific covenants by the Purchaser pertaining to any or all of the restrictions, easements, covenants and agreements referred to in this Agreement, and in such case, the Purchaser may be required to execute the Transfer/Deed prior to the Title Closing Date, and the Vendor may require in addition that the Purchaser deliver his separate written covenant on the Title Closing Date. The Purchaser shall not register, or cause to be registered, this Agreement on title to the Property and/or the Lands, nor any notice thereof, nor any caution or lis pendens with respect thereto, nor any certificate of pending litigation or other similar court process, until after the Title Closing Date, and any registration thereof in contravention of this provision shall constitute a fundamental breach of this Agreement, entitling the Vendor to the rights, remedies and provisions hereinafter set forth. The Purchaser acknowledges that prior to the Title Closing Date, the Building Department for the municipality shall verbally advise that the Unit is occupiable but that a final inspection shall not be conducted until the entire Condominium is substantially completePermitted Encumbrances.

TITLE SEARCH. The Purchaser agrees to promptly obtain, at Purchaser’s sole cost and expense, a title report of the Property (the “Title Report”) from First American Title Insurance Company (the “Title Company”), and a survey of the Property (the “Survey”) by a licensed New Jersey Surveyor, and to furnish a copy of said title report and survey to Seller promptly after Purchaser receives each, but in no event later than the end of the Due Diligence Period. If anything in said Title Report or Survey constitutes a title defect (as determined by Purchaser in its sole discretion), then Purchaser shall examine promptly give notice thereof to Seller specifying in detail such title defect(s), but in no event later than 12:01 p.m. on the last day of the Due Diligence Period (time being of the essence with respect to said time and date) or Purchaser shall be deemed to have waived all objections based upon such title defect(s), or not cure, satisfy and/or discharge same. Furthermore, Purchaser shall be permitted to object to any matters first disclosed to Purchaser subsequent to the initial date of the Survey and/or Title Report by providing notice thereof to Seller no later than five (5) business days following receipt by Purchaser of the updated Survey and/or the updated Title Report, as applicable, which disclosed such new matter. If Seller elects by written notice delivered to Purchaser (which notice shall be delivered no later than five (5) business days following delivery by Purchaser of the applicable notice of title defects) not to cure, satisfy or discharge same, or fails to timely deliver such written notice, Purchaser’s sole right shall be to terminate this Agreement on written notice to Seller within five (5) business days after Seller shall notify Purchaser that it is unable or does not elect to cure, satisfy or discharge same, in which event the Deposit shall be returned to Purchaser by Escrow Agent, and neither party shall have any further rights or liabilities hereunder thereafter; provided, however, that if Purchaser shall not so terminate this Agreement, Purchaser shall accept title subject to such title defect(s) without reduction or abatement of the Purchase Price set forth above. If the Seller elects to cure, but fails to do so, Purchaser shall have its rights and remedies under paragraph 15 of this Agreement. It is distinctly understood and agreed that, except as otherwise provided in this Agreement, Seller shall not be required to bring any action or proceeding, take any steps, or otherwise incur any expense to remove or cure any title defect(s) or otherwise render title to the Property at his own expensemarketable. Notwithstanding anything contained herein to the contrary, and shall not call for (i) any matters first disclosed to Purchaser subsequent to the production of any surveys, title deeds, abstracts of title, grading, certificates, occupancy permits or certificates, nor any other proof or evidence date of the title Survey and/or Title Report that are caused or occupiability of the Propertyconsented to by Seller shall be removed and/or cured prior to Closing by Seller, except such copies thereof as are in the Vendor’s possession. The Purchaser (ii) Seller shall satisfy himself that discharge and remove any and all liens and encumbrances affecting the Property may be occupied in accordance with applicable municipal requirements which secure an obligation to pay money (other than installments of real and shall be allowed to submit his requisitions personal property taxes and liens for special improvements not due and payable as to title of Closing) and any other matters contemplated hereby, until fifteen (15iii) days prior to the Title Closing Date, and if within that time the Purchaser shall furnish the Vendor in writing with any valid objection to title, or to any outstanding work order, which the Vendor shall be unable or unwilling to remove, and which the Purchaser will not waive, then this Agreement shall, notwithstanding any intervening acts or negotiations, be null and void, and the deposits paid shall be returned without interest and without deduction save for any extras or changes ordered by the Purchaser and as yet unpaid, and the Vendor shall have no further obligation hereunder and shall not be liable for any costs or damage to the Purchaser. Save as to any valid objection so made within such time, the Purchaser shall be conclusively deemed to have accepted the title to the Property. The Purchaser further agrees to accept title from the registered owner of the Property and to accept such owner’s title covenants in lieu of the Vendor’s in the event that the Vendor is not the registered owner any title defect or other title matter arises as a result of the Property on the Title Closing Date. The Vendor shall be entitled to insert in the Transfer/Deed specific covenants a default by the Purchaser pertaining to any or all of the restrictions, easements, covenants and agreements referred to in Seller under this Agreement, and in such case, the Purchaser may be required to execute the Transfer/Deed prior to the Title Closing Date, and the Vendor may require in addition that the Purchaser deliver his separate written covenant on the Title Closing Date. The Purchaser shall not register, or cause to be registered, this Agreement on title to the Property and/or the Lands, nor any notice thereof, nor any caution or lis pendens with respect thereto, nor any certificate of pending litigation or other similar court process, until after the Title Closing Date, have its rights and any registration thereof in contravention of this provision shall constitute a fundamental breach remedies under paragraph 15 of this Agreement, entitling the Vendor to the rights, remedies and provisions hereinafter set forth. The Purchaser acknowledges that prior to the Title Closing Date, the Building Department for the municipality shall verbally advise that the Unit is occupiable but that a final inspection shall not be conducted until the entire Condominium is substantially complete.

TITLE SEARCH. The Purchaser Contributing Partners agree to provide to Home Properties the most recent title insurance policy and survey of the RGII Real Property in the possession of Contributing Partners. Home Properties agrees to promptly obtain at Home Properties' cost and expense a title report of the RGII Real Property from a New Jersey licensed title insurance company selected by Home Properties (the "Title Company") and a survey of the RGII Real Property by a licensed New Jersey surveyor and to furnish a copy of such title report and survey to Contributing Partners promptly after Home Properties receives the same, but in no event later than forty-five (45) days from the date hereof. If Home Properties deems anything in such title report or survey to constitute an objection to title of RGII in the RGII Real Property, then Home Properties shall examine give notice thereof to Contributing Partners, specifying such objection. If Contributing Partners elect not to cure any such objection, or in the event Contributing Partners are unable to cure any such objection within sixty (60) days from Home Properties' notice thereof, Home Properties' sole right shall be to terminate this Agreement on written notice to Contributing Partners within five (5) days after Contributing Partners shall notify Home Properties that they do not elect to cure such objection, or that they are unable to cure same, in which event the Deposit shall be returned to Home Properties, and no party shall have any further rights or liabilities hereunder or against each other thereafter; provided however, that if Home Properties shall not so terminate this Agreement, Home Properties shall accept the RGII Interests without reduction or abatement of the consideration set forth above. It is distinctly understood and agreed that Contributing Partners and/or RGII shall not be required to bring any action or proceeding, take any steps, or otherwise incur any expense to remove or cure such title defect or otherwise render RGII's title to the RGII Real Property at his own expense, and shall not call for the production marketable. If Home Properties fails to give Contributing Partners notice of any surveys, matter it deems to be an objection to title deeds, abstracts of title, grading, certificates, occupancy permits or certificates, nor any other proof or evidence by the date forty five (45) days from the date hereof (time being of the title or occupiability of the Propertyessence with respect to such date), except such copies thereof as are in the Vendor’s possession. The Purchaser shall satisfy himself that the Property may be occupied in accordance with applicable municipal requirements and shall be allowed to submit his requisitions as to title and any other matters contemplated hereby, until fifteen (15) days prior to the Title Closing Date, and if within that time the Purchaser shall furnish the Vendor in writing with any valid objection to title, or to any outstanding work order, which the Vendor shall be unable or unwilling to remove, and which the Purchaser will not waive, then this Agreement shall, notwithstanding any intervening acts or negotiations, be null and void, and the deposits paid shall be returned without interest and without deduction save for any extras or changes ordered by the Purchaser and as yet unpaid, and the Vendor shall have no further obligation hereunder and matter shall not be liable for any costs or damage deemed an objection to the Purchaser. Save as to any valid objection so made within such time, the Purchaser shall be conclusively deemed to have accepted the RGII's title to the RGII Real Property. The Purchaser further agrees to accept title from the registered owner of the Property and to accept such owner’s title covenants in lieu of the Vendor’s in the event that the Vendor is not the registered owner of the Property on the Title Closing Date. The Vendor shall be entitled to insert in the Transfer/Deed specific covenants by the Purchaser pertaining to any or all of the restrictions, easements, covenants and agreements referred to in this Agreement, and in such case, the Purchaser may be required to execute the Transfer/Deed prior to the Title Closing Date, and the Vendor may require in addition that the Purchaser deliver his separate written covenant on the Title Closing Date. The Purchaser following shall not register, or cause be deemed to be registered, this Agreement on title defects rendering RGII's title to the RGII Real Property and/or the Lands, nor any notice thereof, nor any caution or lis pendens with respect thereto, nor any certificate of pending litigation or other similar court process, until after the Title Closing Date, and any registration thereof in contravention of this provision shall constitute a fundamental breach of this Agreement, entitling the Vendor to the rights, remedies and provisions hereinafter set forth. The Purchaser acknowledges that prior to the Title Closing Date, the Building Department for the municipality shall verbally advise that the Unit is occupiable but that a final inspection shall not be conducted until the entire Condominium is substantially complete.unmarketable:

TITLE SEARCH. The Purchaser shall examine (e) Provided the title is good and free from all encumbrances except as herein provided, and except as to building and other restrictions, and to any easement or right of way granted or to be granted for installation and/or maintenance of services, T.V. transmission system, mutual driveways, environmental easements, easements for noise and vibration and for access to rear yards and for maintenance of adjoining dwellings, if applicable. Furthermore, title to the Property at his own expensemay be subject to encroachments by portions of the buildings located on abutting lands, including xxxxx, eavestroughing, or other attachments to the roofs, and shall the Purchaser further acknowledges that portions of the Dwelling may encroach onto abutting lands where the right to do so exists. The Purchaser further acknowledges that the Property may be subject to possible fence encroachments. The Purchaser is not to call for the production of any surveys, title deeds, abstracts of title, grading, certificates, occupancy permits abstract or certificates, nor any other proof or evidence of the title or occupiability of the Property, except such copies thereof as are in the possession of the Vendor’s possession. The Purchaser shall satisfy himself that the Property may be occupied in accordance with applicable municipal requirements and shall is to be allowed to submit his requisitions as to title and any other matters contemplated hereby, until fifteen thirty (1530) days prior to the Title Closing Date, to examine the title at his own expense and if if, within that time the Purchaser shall furnish the Vendor in writing with time, any valid objection to title, or title is made in writing to any outstanding work order, the Vendor which the Vendor shall be unable or unwilling to remove, remove and which the Purchaser will not waive, then waive this Agreement shallshall (except for the Purchaser's obligations for extras or changes), notwithstanding any intervening acts intermediate act or negotiations, negotiations be null and void, void and the deposits paid deposit monies shall be returned returned, without interest and without deduction save for any extras or changes ordered by the Purchaser and as yet unpaidinterest, and the Vendor shall have no further obligation hereunder and the Broker shall not be liable for any damages or costs whatsoever, including, without limiting the generality of the foregoing, loss of bargain, relocation costs, loss of income, professional fees and disbursements and any amount paid to third parties on account of decoration, construction or damage to the Purchaserfixturing costs. Save as to any valid objection so made within such time, the Purchaser shall be conclusively deemed to have accepted the title of the Vendor to the Property. The Purchaser further acknowledges and agrees to accept title from the registered owner of the Property and to accept such owner’s title covenants in lieu of the Vendor’s in the event that the Vendor is not the registered owner of the Property on the Title Closing Date. The Vendor shall be entitled to insert in the Transfer/Deed specific covenants by the Purchaser pertaining respond to any some or all of the restrictions, easements, covenants and agreements referred to in this Agreementrequisitions submitted by or on behalf of the Purchaser through the use of a standard title memorandum or title advice statement prepared by the Vendor’s Solicitors, and in such case, the Purchaser may be required to execute the Transfer/Deed prior to the Title Closing Date, and the Vendor may require in addition that the Purchaser deliver his separate written covenant on the Title Closing Date. The Purchaser shall not register, or cause to be registered, this Agreement on title to the Property and/or the Lands, nor any notice thereof, nor any caution or lis pendens with respect thereto, nor any certificate of pending litigation or other similar court process, until after the Title Closing Date, and any registration thereof in contravention of this provision same shall constitute a fundamental breach satisfactory manner of this Agreementresponding to the Purchaser’s requisitions, entitling thereby relieving the Vendor and the Vendor’s Solicitors of the requirement to respond directly or specifically to the rights, remedies and provisions hereinafter set forth. The Purchaser acknowledges that prior to the Title Closing Date, the Building Department for the municipality shall verbally advise that the Unit is occupiable but that a final inspection shall not be conducted until the entire Condominium is substantially completePurchaser’s requisitions.

TITLE SEARCH. The Purchaser shall examine (e) Provided the title is good and free from all encumbrances except as herein provided, and except as to building and other restrictions, and to any easement or right of way granted or to be granted for installation and/or maintenance of services, T.V. transmission system, mutual driveways, environmental easements, easements for noise and vibration and for access to year yards and for maintenance of adjoining dwellings, if applicable. Furthermore, title to the Property at his own expensemay be subject to encroachments by portions of the buildings located on abutting lands, including xxxxx, eavestroughing, or other attachments to the roofs, and shall the Purchaser further acknowledges that portions of the Dwelling may encroach onto abutting lands where the right to do so exists. The Purchaser further acknowledges that the Property may be subject to possible fence encroachments. The Purchaser is not to call for the production of any surveys, title deeds, abstracts of title, grading, certificates, occupancy permits abstract or certificates, nor any other proof or evidence of the title or occupiability of the Property, except such copies thereof as are in the possession of the Vendor’s possession. The Purchaser shall satisfy himself that the Property may be occupied in accordance with applicable municipal requirements and shall is to be allowed to submit his requisitions as to title and any other matters contemplated hereby, until fifteen thirty (1530) days prior to the Title Closing Date, to examine the title at his own expense and if if, within that time the Purchaser shall furnish the Vendor in writing with time, any valid objection to title, or title is made in writing to any outstanding work order, the Vendor which the Vendor shall be unable or unwilling to remove, remove and which the Purchaser will not waive, then waive this Agreement shallshall (except for the Purchaser's obligations for extras or changes), notwithstanding any intervening acts intermediate act or negotiations, negotiations be null and void, void and the deposits paid deposit monies shall be returned returned, without interest and without deduction save for any extras or changes ordered by the Purchaser and as yet unpaidinterest, and the Vendor shall have no further obligation hereunder and the Broker shall not be liable for any damages or costs whatsoever, including, without limiting the generality of the foregoing, loss of bargain, relocation costs, loss of income, professional fees and disbursements and any amount paid to third parties on account of decoration, construction or damage to the Purchaserfixturing costs. Save as to any valid objection so made within such time, the Purchaser shall be conclusively deemed to have accepted the title of the Vendor to the Property. The Purchaser further acknowledges and agrees to accept title from the registered owner of the Property and to accept such owner’s title covenants in lieu of the Vendor’s in the event that the Vendor is not the registered owner of the Property on the Title Closing Date. The Vendor shall be entitled to insert in the Transfer/Deed specific covenants by the Purchaser pertaining respond to any some or all of the restrictions, easements, covenants and agreements referred to in this Agreementrequisitions submitted by or on behalf of the Purchaser through the use of a standard title memorandum or title advice statement prepared by the Vendor’s Solicitors, and in such case, the Purchaser may be required to execute the Transfer/Deed prior to the Title Closing Date, and the Vendor may require in addition that the Purchaser deliver his separate written covenant on the Title Closing Date. The Purchaser shall not register, or cause to be registered, this Agreement on title to the Property and/or the Lands, nor any notice thereof, nor any caution or lis pendens with respect thereto, nor any certificate of pending litigation or other similar court process, until after the Title Closing Date, and any registration thereof in contravention of this provision same shall constitute a fundamental breach satisfactory manner of this Agreementresponding to the Purchaser’s requisitions, entitling thereby relieving the Vendor and the Vendor’s Solicitors of the requirement to respond directly or specifically to the rights, remedies and provisions hereinafter set forth. The Purchaser acknowledges that prior to the Title Closing Date, the Building Department for the municipality shall verbally advise that the Unit is occupiable but that a final inspection shall not be conducted until the entire Condominium is substantially completePurchaser’s requisitions.