Laserfiche WebLink
assessments which are a lien, but not yet due and payable, and <br />(2) such other encumbrances, reservations and' exceptions, if <br />any, as are permitted in the title guarantee described below. <br /> <br /> b) TITLE GUARANTEE.. 'Seller shall provide Title <br />Guarantee sufficient' to obtain Owner's Title Insurance~ <br />commitment for an Owner's Title Insurance (Alta Form B) at the <br />time of title transfer with Schedule B general and printed <br />exceptions deleted issued by Chicago Title Insurance Company or:~ <br />other Title Insurance Company ac6eptable to Buyer, in the amount <br /> <br />of the purchase price guaranteeing marketable title to Buyer <br />free and clear of all title defects, encumbrances, reservations <br />and exceptions whatsoever, except: (1) zoning ordinances, if <br />any, (2) taxes and assessments which are a lien, but not yet~'-due <br />and payable, (3).. SUch restrictions,, conditions, easements <br />(hOwever created) and encroachments as do not materially <br />adversely affect the use or value of the Property. <br /> <br /> 5. CURE OF TITLE DEFECTS, ENCUMBRANCES, RESERVATIONS <br /> <br /> AND EXCEPTIONS. If Seller is unable to comply with the <br /> requirements of subparagraphs 3 (a) and 3 (b) above, then Seller <br /> shall have 30 days after receipt of notice thereof to remove <br /> said defect(s) and to provide Buyer with evidence thereof. If <br /> Seller is~unable to remove said defect(s) within such 30 da~· <br /> period, then Buyer may either: (1) accept title to the Property <br /> <br /> subject to said defect(s) without any reduction in the total <br /> purchase price, or (2) terminate~ this Agreement by written <br /> notice to Seller and thereupon have returned all items and funds <br /> theretofore paid or deposited hereunder, in which event Seller <br /> shall pay all nonrefundable escrow and title costs theretofore <br /> incurred and Seli~r and Buyer shall be relieved of further <br /> liability hereunder. <br /> <br /> <br />