Common use of BUYER’S ELECTION TO ACCEPT TITLE Clause in Contracts

BUYER’S ELECTION TO ACCEPT TITLE. The Buyer shall have the election, at either the original or any extended time for performance, to accept such title as the Seller can deliver to the Unit in its then condition and to pay therefor the purchase price without deduction, in which case the Seller shall convey title, except that in the event of such conveyance in accordance with the provisions of this section, if the Unit shall have been damaged by fire or casualty insured against by the organization of unit owners or by the Seller, then the Seller shall, on delivery of the Deed, unless the Unit has previously been restored to its former condition, pay over or assign to the Buyer all amounts recovered or recoverable by the Seller on account of such insurance, and give the Buyer a credit against the purchase price equal to any amounts otherwise so recoverable which are retained by the holder of a mortgage on the Unit, less any amounts reasonably expended by the Seller for any partial restoration.

BUYER’S ELECTION TO ACCEPT TITLE. The Buyer BUYER shall have the election, at either the original or any extended time for performance, to accept such title as the Seller SELLER can deliver to the Unit said premises in its their then condition and to pay therefor therefore the purchase price without deduction, in which case the Seller SELLER shall convey such title, except that in the event of such conveyance in accordance accord with the provisions of this sectionclause, if the Unit said premises shall have been damaged by fire or casualty insured against by the organization of unit owners or by the SellerSELLER, then the Seller SELLER shall, on delivery of the Deeddeed, unless the Unit has said premises have previously been restored to its their former condition, pay over or assign to the Buyer BUYER all amounts recovered or recoverable by the Seller SELLER on account of such insurance, and give the Buyer BUYER a credit against the purchase price equal to any amounts otherwise so recoverable which are retained by the holder of a mortgage on the Unit, less any amounts reasonably expended by the Seller SELLER for any partial restoration.

BUYER’S ELECTION TO ACCEPT TITLE. The Buyer BUYER shall have the election, at either the original or any extended time for performance, to accept such title as the Seller SELLER can deliver to the said Unit in its their then condition and to pay therefor therefore the purchase price without deduction, in which case the Seller SELLER shall convey such title, except that in the event of such conveyance in accordance with the provisions of this sectionclause, if the said Unit shall have been damaged by fire or casualty insured against by the organization of unit owners or by the SellerSELLER, then the Seller SELLER shall, on delivery of the Deeddeed, unless the said Unit has been previously been restored to its their former condition, pay over or assign to the Buyer BUYER all amounts recovered or recoverable by the Seller SELLER on account of such insurance, and give the Buyer BUYER a credit against the purchase price equal to any amounts otherwise so recoverable which are retained by the holder of a mortgage on the Unit, less any amounts reasonably expended by the Seller SELLER for any partial restoration.