Common use of Casualty Loss Clause in Contracts

Casualty Loss. If any part of the Property is damaged or destroyed by fire or other casualty after the Time Reference Date of this Contract, Seller shall restore the Property to its previous condition as soon as reasonably possible, but in any event, by the Closing Date. If Seller fails to do so due to factors beyond Seller’ control, Buyer may: (a) terminate this Contract and the Xxxxxxx Money will be refunded to Buyer; (b) extend the time for performance up to 15 days and the Closing Date will be extended as necessary; or (c) accept the Property in its damaged condition with an assignment of insurance proceeds and receive credit from Seller at closing in the amount of the deductible under the insurance policy. Seller obligations under this paragraph are independent of any obligations of Seller under the Acceptance of Property Paragraph 8.

Casualty Loss. If any part of the Property is damaged or destroyed by fire or other casualty after the Time Reference Date effective date of this Contractcontract, Seller shall restore the Property to its previous condition as soon as reasonably possible, but in any event, event by the Closing Date. If Seller fails to do so due to factors beyond Seller’ ’s control, Buyer may: may (a) terminate this Contract contract and the Xxxxxxx Money xxxxxxx money will be refunded to Buyer; Buyer (b) extend the time for performance up to 15 days and the Closing Date will be extended as necessary; necessary or (c) accept the Property in its damaged condition with an assignment of insurance proceeds and receive credit from Seller at closing in the amount of the deductible under the insurance policy. Seller Seller’s obligations under this paragraph are independent of any other obligations of Seller under the Acceptance of Property Paragraph 8this contract.

Casualty Loss. If any part of the Property is damaged or destroyed by fire or other casualty loss after the Time Reference Date effective date of this Contractthe contract, Seller shall restore the Property to its previous condition as soon as reasonably possible, but in any event, event by the Closing Date. If Seller fails to do so due to factors beyond Seller’ ’s control, Buyer may: may either (a) terminate this Contract contract and the Xxxxxxx Money xxxxxxx money will be refunded to Buyer; Buyer (b) extend the time for performance up to 15 days and the Closing Date will be extended as necessary; necessary or (c) accept the Property in its damaged condition with and accept an assignment of insurance proceeds and receive credit from Seller at closing in the amount of the deductible under the insurance policyproceeds. Seller Seller’s obligations under this paragraph are independent of any obligations of Seller under the Acceptance of Property Paragraph 87.

Casualty Loss. If any part of the Property is damaged or destroyed by fire or other casualty after the Time Reference Date effective date of this Contractcontract, Seller shall restore the Property to its previous condition as soon as reasonably possible, but in any event, event by the Closing Date. If Seller fails to do so due to factors beyond Seller’ ’s control, Buyer may: may (a) terminate this Contract contract and the Xxxxxxx Money xxxxxxx money will be refunded to Buyer; Buyer (b) extend the time for performance up to 15 45 days and the Closing Date will be extended as necessary; necessary or (c) accept the Property in its damaged condition with an assignment of insurance proceeds and receive credit from Seller at closing in the amount of the deductible under the insurance policy. Seller Seller’s obligations under this paragraph are independent of any other obligations of Seller under the Acceptance of Property Paragraph 8this contract.

Casualty Loss. If any part of the Property is damaged or destroyed by fire or other casualty after the Time Reference Date effective date of this Contractcontract, Seller shall restore the Property to its previous condition as soon as reasonably possible, but in any event, event by the Closing Date. If Seller fails to do so due to factors beyond Seller’ ’s control, Buyer may: may (a) terminate this Contract contract and the Xxxxxxx Money xxxxxxx money will be refunded to Buyer; Buyer (b) extend the time for performance up to 15 days and the Closing Date will be extended as necessary; necessary or (c) accept the Property in its damaged condition with an assignment of insurance proceeds and receive credit from Seller at closing in the amount of the deductible under the insurance policy. Seller Seller’s obligations under this paragraph are independent of any other obligations of Seller under the Acceptance of Property Paragraph 8this contract. 15.

Casualty Loss. If any part of the Property is damaged or destroyed by fire or other casualty after the Time Reference Date effective date of this Contractcontract, Seller shall restore the Property to its previous condition as soon as reasonably possible, but in any event, event by the Closing Date. If Seller fails to do so due to factors beyond Seller’ ’s control, Buyer may: may (a) terminate this Contract contract and the Xxxxxxx Money exxxxxx money will be refunded to Buyer; Buyer (b) extend the time for performance up to 15 days and the Closing Date will be extended as necessary; necessary or (c) accept the Property in its damaged condition with an assignment of insurance proceeds and receive credit from Seller at closing in the amount of the deductible under the insurance policy. Seller Seller’s obligations under this paragraph are independent of any obligations of Seller under the Acceptance of Property Paragraph 87.

Casualty Loss. If any part of the Property is damaged or destroyed by fire or other casualty after the Time Reference Date of this Contract, Seller shall restore the Property to its previous condition as soon as reasonably possible, but in any event, by the Closing Date. If Seller fails to do so due to factors beyond Seller’ ’s control, Buyer may: (a) terminate this Contract and the Xxxxxxx Money will be refunded to Buyer; (b) extend the time for performance up to 15 days and the Closing Date will be extended as necessary; or (c) accept the Property in its damaged condition with an assignment of insurance proceeds and receive credit from Seller at closing in the amount of the deductible under the insurance policy. Seller obligations under this paragraph are independent of any obligations of Seller under the Acceptance of Property Paragraph 8.

Casualty Loss. If any part of the Property is damaged or destroyed by fire or other casualty after the Time Reference Date effective date of this Contractcontract, Seller shall restore the Property to its previous condition as soon as reasonably possible, but in any event, event by the Closing Date. If Seller fails to do so due to factors beyond Seller’ 's control, Buyer may: may (a) terminate this Contract contract and the Xxxxxxx Money xxxxxxx money will be refunded to Buyer; Buyer (b) extend the time for performance up to 15 days and the Closing Date will be extended as necessary; necessary or (c) accept the Property in its damaged condition with an assignment of insurance proceeds and receive credit from Seller at closing in the amount of the deductible under the insurance policy. Seller Seller's obligations under this paragraph are independent of any other obligations of Seller under the Acceptance of Property Paragraph 8this contract.