Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss 659 prior to Closing (Property Damage) in an amount of not more than ten percent of the total Purchase Price and if the repair of the 660 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.1, on or 662 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 667 Closing or, at the option of Buyer, (1) Seller must assign to Buyer the right to the proceeds at Closing, if acceptable to Seller’s 668 insurance company and Xxxxx’s lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive due to such 670 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the insurance claim.
Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of 618 loss prior to Closing in an amount of not more than ten percent of the total Purchase Price (Property Damage), Seller is obligated 619 to repair the same before Closing Date (§ 3). Buyer has the Right to Terminate under § 25.1, on or before Closing Date (§ 3), if 620 the Property Damage is not repaired before Closing Date (§ 3) or if the damage exceeds such sum. Should Buyer elect to carry out 621 this Contract despite such Property Damage, Buyer is entitled to a credit at Closing for all insurance proceeds that were received 622 by Seller (but not the Association, if any) resulting from such damage to the Property and Inclusions, plus the amount of any 623 deductible provided for in such insurance policy. Such credit must not exceed the Purchase Price. In the event Seller has not 624 received such insurance proceeds prior to Closing, the parties may agree to extend the Closing Date (§ 3) or, at the option of 625 Buyer, Seller must assign such proceeds at Closing, plus credit Buyer the amount of any deductible provided for in such insurance 626 policy, but not to exceed the total Purchase Price.
Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of 562 loss prior to Closing in an amount of not more than ten percent of the total Purchase Price (Property Damage), Seller shall be 563 obligated to repair the same before Closing Date (§ 3). In the event such damage is not repaired within said time or if the damage 564 exceeds such sum, this Contract may be terminated at the option of Buyer. Buyer shall have the Right to Terminate under § 25.1, 565 on or before Closing Date (§ 3), based on any Property Damage not repaired before Closing Date (§ 3). Should Buyer elect to 566 carry out this Contract despite such Property Damage, Buyer shall be entitled to a credit at Closing for all insurance proceeds that 567 were received by Seller (but not the Association, if any) resulting from such damage to the Property and Inclusions, plus the 568 amount of any deductible provided for in such insurance policy. Such credit shall not exceed the Purchase Price. In the event Seller 569 has not received such insurance proceeds prior to Closing, the parties may agree to extend the Closing Date (§ 3) or, at the option 570 of Buyer, Seller shall assign such proceeds at Closing, plus credit Buyer the amount of any deductible provided for in such 571 insurance policy, but not to exceed the total Purchase Price.
Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss prior to Closing 448 in an amount of not more than ten percent of the total Purchase Price, Seller shall be obligated to repair the same before Closing Date (§ 2.3). In the 449 event such damage is not repaired within said time or if the damage exceeds such sum, this Contract may be terminated at the option of Buyer by 450 delivering to Seller written notice of termination on or before Closing. Should Buyer elect to carry out this Contract despite such damage, Buyer 451 shall be entitled to a credit at Closing for all insurance proceeds that were received by Seller (but not the Association, if any) resulting from such 452 damage to the Property and Inclusions, plus the amount of any deductible provided for in such insurance policy. Such credit shall not exceed the 453 Purchase Price. In the event Seller has not received such insurance proceeds prior to Closing, then Seller shall assign such proceeds at Closing, plus 454 credit Buyer the amount of any deductible provided for in such insurance policy, but not to exceed the total Purchase Price.
Causes of Loss, Insurance. CONDITION OF, DAMAGE TO PROPERTY AND INCLUSIONS AND WALK-THROUGH. Except as otherwise provided in this Contract, the Property, Inclusions or both shall be delivered in the condition existing as of the date of this Contract, ordinary wear and tear excepted.
Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss prior to Closing in an amount of not more than ten percent of the total Purchase Price (Property Damage), and if the repair of the damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.1, on or before Closing Date if the Property is not repaired before Closing Date or if the damage exceeds such sum. Should Buyer elect to carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance proceeds that were received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to Closing or, at the option of Buyer, (1) Seller must assign to Buyer the right to the proceeds at Closing, if acceptable to Seller’s insurance company and Buyer’s lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller 925 926 927 928 929 930 931 932 933 934 935 936 937 938 939 940 941 942 943 944 945 946 947 948 949 950 951 952 953 954 955 956 957 958 959 960 961 962 963 964 965 966 967 968 969 970 971 972 973 974 975 976 977 978 979 980 981 982 983 984 985 986 987 988 989 990 has received and will receive due to such damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the insurance claim.
Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss prior to Closing in an amount of not more than ten percent of the total Purchase Price (Property Damage), Seller is obligated to repair the same before Closing Date (§ 3). Buyer has the Right to Terminate under § 25.1, on or before Closing Date (§ 3), if the Property Damage is not repaired before Closing Date (§ 3) or if the damage exceeds such sum. Should Buyer elect to carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance proceeds that were received by Seller (but not the Association, if any) resulting from such damage to the Property and Inclusions, plus the amount of any deductible provided for in such insurance policy. Such credit must not exceed the Purchase Price. In the event Seller has not received such insurance proceeds prior to Closing, the parties may agree to extend the 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 1015 1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 1026 1027 1028 1029 1030 1031 1032 1033 1034 1035 1036 1037 1038 1039 1040 1041 1042 1043 1044 1045 1046 1047 1048 1049 1050 1051 1052 1053 1054 1055 1056 1057 1058 1059 1060 1061 1062 1063 1064 1065 1066 1067 1068 1069 1070 1071 1072 1073 1074 1075 1076 1077 1078 1079 1080 1081 1082 1083 1084 1085 1086 1087 1088 Closing Date (§ 3) or, at the option of Buyer, Seller must assign such proceeds at Closing, plus credit Buyer the amount of any deductible provided for in such insurance policy, but not to exceed the total Purchase Price.
