Title Insurance Policy

Title Insurance Policy. Means, in relation to each parcel of Real Estate subject to a Deed of Trust, an ALTA standard form (or if the Real Estate is not in a state that issues ATLA policies, in the equivalent standard form for such state) title insurance policy issued by the Title Insurance Company (with such reinsurance or co-insurance as the Agents may require, any such reinsurance to be with direct access endorsements) in such amount as may be determined by the Agents (not ... exceeding $65 million) insuring the priority of the Deed of Trust of such Real Estate and that one of the Loan Parties holds marketable (or in Texas, indefeasible) fee simple or leasehold title to such Real Estate, subject only to the encumbrances permitted by such Deed of Trust and which shall not contain exceptions for mechanics liens, persons in occupancy or matters which would be shown by a survey (except as may be permitted by such Deed of Trust), shall not insure over any matter except to the extent that any such affirmative insurance is acceptable to the Agents in their reasonable discretion, and shall contain such endorsements and affirmative insurance as the Agents in their reasonable discretion may require, including but not limited to (a) comprehensive endorsement, (b) variable rate of interest endorsement, (c) usury endorsement, (d) revolving credit endorsement, (e) tie-in endorsement, and (f) doing business endorsement. 7 View More

Title Insurance Policy. Shall mean a standard 1992 ALTA owner's policy of title 25 insurance with respect to the Property, in the form customary in the county in which the Property is located, showing title to the Property to be vested in Buyer, subject only to the Permitted Encumbrances, with affirmative insurance as to contiguity of lots and the absence of any gaps and gores (if the Property includes more than one lot), with additional coverage to the effect that no financing statements or other... personal property liens or encumbrances shall have been filed or recorded against those portions of the Property that constitute personal property under applicable law, and with a coverage amount equal to the Purchase Price. View More