Common use of Causes of Loss, Insurance Clause in Contracts

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 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 XxxxxBuyer’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 679 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 680 the 660 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance 681 proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under 682 § 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 683 Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance 684 proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus 685 the amount of any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event 686 Seller has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the 687 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 688 acceptable to Seller’s 668 insurance company and XxxxxBuyer’s lender; or (2) the parties may enter into a written agreement prepared by the 689 parties or their attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and 690 will receive due to such 670 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the 691 insurance claim.

Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss 659 733 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 660 734 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 661 735 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.124.1., on 736 or 662 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect 737 to 663 carry out this Contract despite such Property Damage, Xxxxx Buyer is entitled to a credit at Closing for all insurance proceeds that were 664 738 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 665 739 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 666 740 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 667 741 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 668 742 insurance company and Xxxxx’s lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney 669 743 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive due to such 670 744 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 659 671 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 660 672 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 661 673 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.1, on or 662 674 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect to 663 675 carry out this Contract despite such Property Damage, Xxxxx Buyer is entitled to a credit at Closing for all insurance proceeds that were 664 676 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 665 677 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 666 678 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 667 679 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 668 680 insurance company and Xxxxx’s lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney 669 681 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive due to such 670 682 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 697 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 698 the 660 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance 699 proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under 700 § 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 701 Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx Buyer is entitled to a credit at Closing for all insurance 702 proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus 703 the amount of any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event 704 Seller has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the 705 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 706 acceptable to Seller’s 668 insurance company and XxxxxBuyer’s lender; or (2) the parties may enter into a written agreement prepared by the 707 parties or their attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and 708 will receive due to such 670 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the 709 insurance claim.

Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of 619 loss 659 prior to Closing (Property Damage) in an amount of not more than ten percent of the total Purchase Price (Property Damage), and if the repair of 620 the 660 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance 621 proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under 622 § 25.1, on or 662 before Closing Date, Date if the Property is not repaired before Closing Date, Date or if the damage exceeds such sum. Should 623 Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance 624 proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus 625 the amount of any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event 626 Seller has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the 627 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 628 acceptable to Seller’s 668 insurance company and Xxxxx’s lender; or (2) the parties may enter into a written agreement prepared by the 629 parties or their attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and 630 will receive due to such 670 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the 631 insurance claim.

Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss 659 676 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 660 677 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 661 678 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.1, on or 662 679 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect to 663 680 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance proceeds that were 664 681 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 665 682 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 666 683 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 667 684 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 668 685 insurance company and Xxxxx’s lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney 669 686 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive due to such 670 687 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 648 loss 659 prior to Closing (Property Damage) in an amount of not more than ten percent of the total Purchase Price (Property Damage), and if the repair of 649 the 660 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance 650 proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under 651 § 25.1, on or 662 before Closing Date, Date if the Property is not repaired before Closing Date, Date or if the damage exceeds such sum. Should 652 Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance 653 proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus 654 the amount of any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event 655 Seller has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the 656 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 657 acceptable to Seller’s 668 insurance company and Xxxxx’s lender; or (2) the parties may enter into a written agreement prepared by the 658 parties or their attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and 659 will receive due to such 670 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the 660 insurance claim.

Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss 659 782 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 660 783 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 661 784 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.124.1., on 785 or 662 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect 786 to 663 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance proceeds that were 664 787 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 665 788 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 666 789 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 667 790 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 668 791 insurance company and Xxxxx’s lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney 669 792 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive due to such 670 793 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 659 778 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 660 779 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 661 780 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.12524.1,., 781 on or 662 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer 782 elect to 663 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance proceeds that 783 were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of 784 any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not 785 received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired 786 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 787 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 788 attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive due to 789 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 512 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 513 the 660 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance 514 proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under 515 § 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 516 Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance 517 proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus 518 the amount of any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event 519 Seller has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the 520 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 521 acceptable to Seller’s 668 insurance company and XxxxxBuyer’s lender; or (2) the parties may enter into a written agreement prepared by the 522 parties or their attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and 523 will receive due to such 670 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the 524 insurance claim.

Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of 735 loss 659 prior to Closing (Property Damage) in an amount of not more than ten percent of the total Purchase Price (Property Damage), 736 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 737 of the insurance proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to 738 Terminate under § 25.1, on or 662 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds 739 such sum. Should Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for 740 all insurance proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and 741 Inclusions, plus the amount of any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. 742 In the event Seller has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to 743 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 744 Closing, if acceptable to Seller’s 668 insurance company and Xxxxx’s lender; or (2) the parties may enter into a written agreement 745 prepared by the parties or their attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has 746 received and will receive due to such 670 damage, not exceeding the total Purchase Price, plus the amount of any deductible that 747 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 659 prior to Closing (Property Damage) in an amount of not more than ten percent of the total Purchase Price (Property Damage), 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, Date if the Property is not repaired before Closing Date, Date or if the damage exceeds such sum. Should Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx Buyer 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 XxxxxBuyer’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 loss 659 prior to Closing (Property Damage) in an amount of not more than ten percent of the total Purchase Price and 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 § 25.124.1., 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 Buyer 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 XxxxxBuyer’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 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, Date if the Property is not repaired before Closing Date, 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 XxxxxBuyer’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 loss 659 747 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 660 748 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 661 749 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.124.1., on 750 or 662 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect 751 to 663 carry out this Contract despite such Property Damage, Xxxxx Buyer is entitled to a credit at Closing for all insurance proceeds that were 664 752 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 665 753 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 666 754 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 667 755 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 668 756 insurance company and Xxxxx’s lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney 669 757 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive due to such 670 758 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 634 loss 659 prior to Closing (Property Damage) in an amount of not more than ten percent of the total Purchase Price (Property Damage), and if the repair of 635 the 660 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance 636 proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under 637 § 25.1, on or 662 before Closing Date, Date if the Property is not repaired before Closing Date, Date or if the damage exceeds such sum. Should 638 Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx Buyer is entitled to a credit at Closing for all insurance 639 proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus 640 the amount of any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event 641 Seller has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the 642 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 643 acceptable to Seller’s 668 insurance company and XxxxxBuyer’s lender; or (2) the parties may enter into a written agreement prepared by the 644 parties or their attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and 645 will receive due to such 670 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the 646 insurance claim.

Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of 551 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 552 the 660 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance 553 proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under 554 § 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 555 Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance 556 proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus 557 the amount of any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event 558 Seller has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the 559 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 560 acceptable to Seller’s 668 insurance company and Xxxxx’s lender; or (2) the parties may enter into a written agreement prepared by the 561 parties or their attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and 562 will receive due to such 670 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the 563 insurance claim.

Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss 659 384 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 660 385 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 661 386 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.124.1., on 387 or 662 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect 388 to 663 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance proceeds that were 664 389 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 665 390 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 666 391 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 667 392 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 668 393 insurance company and Xxxxx’s lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney 669 394 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive due to such 670 395 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 659 674 prior to Closing (Property Damage) in an amount of not more than ten percent of the total Purchase Price (Property Damage) and if 675 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 676 insurance proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate 677 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. 678 Should Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx Buyer is entitled to a credit at Closing for all insurance 679 proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus 680 the amount of any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller 681 has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property 682 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 683 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 684 their attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive 685 due to such 670 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the insurance claim. 686 19.

Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss 659 478 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 660 479 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 661 480 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.1, on or 662 481 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect to 663 482 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance proceeds that were 664 483 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 665 484 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 666 the 485 insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 667 Closing 486 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 487 company and Xxxxx’s lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney 669 requiring 488 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 489 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 659 671 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 660 672 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 661 673 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.1, on or 662 674 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect to 663 675 carry out this Contract despite such Property Damage, Xxxxx Buyer is entitled to a credit at Closing for all insurance proceeds that were 664 676 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 665 677 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 666 678 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 667 679 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 668 680 insurance company and XxxxxBuyer’s lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney 669 681 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive due to such 670 682 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 659 780 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 660 781 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 661 782 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.124.1., on 783 or 662 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect 784 to 663 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance proceeds that were 664 785 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 665 786 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 666 787 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 667 788 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 668 789 insurance company and Xxxxx’s lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney 669 790 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive due to such 670 791 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 659 681 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 660 682 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the 683 insurance proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to 684 Terminate under § 25.1, on or 662 before Closing Date, if the Property is not repaired before Closing Date, Date or if the damage exceeds such 685 sum. Should Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx is Buyer i s entitled to a credit at Closing for all 686 insurance proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, 687 plus the amount of any 665 deductible provided for in the such insurance policy. This credit may not exceed the Purchase Price. In the event 688 Seller has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the 689 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 690 acceptable to Seller’s 668 insurance company and XxxxxBuyer’s lender; or (2) the parties may enter into a written agreement prepared by the parties or 691 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 692 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 659 prior to Closing (Property Damage) in an amount of not more than ten percent of the total Purchase Price (Property Damage), and if the repair of 619 the 660 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance 620 proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under 621 § 25.1, on or 662 before Closing Date, Date if the Property is not repaired before Closing Date, Date or if the damage exceeds such sum. Should 622 Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx Buyer is entitled to a credit at Closing for all insurance 623 proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus 624 the amount of any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event 625 Seller has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the 626 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 627 acceptable to Seller’s 668 insurance company and XxxxxBuyer’s lender; or (2) the parties may enter into a written agreement prepared by the 628 parties or their attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and 629 will receive due to such 670 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the 630 insurance claim.

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 Buyer 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 XxxxxBuyer’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 697 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 698 the 660 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance 699 proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under 700 § 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 701 Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance 702 proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus 703 the amount of any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event 704 Seller has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the 705 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 706 acceptable to Seller’s 668 insurance company and XxxxxBuyer’s lender; or (2) the parties may enter into a written agreement prepared by the 707 parties or their attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and 708 will receive due to such 670 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the 709 insurance claim.

Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss 659 723 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 660 724 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 661 725 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.1, on or 662 726 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect to 663 727 carry out this Contract despite such Property Damage, Xxxxx Buyer is entitled to a credit at Closing for all insurance proceeds that were 664 728 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 665 729 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 666 730 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 667 731 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 668 732 insurance company and Xxxxx’s lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney 669 733 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive due to such 670 734 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 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 Buyer 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 SAMPLE 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 XxxxxBuyer’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 loss 659 378 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 660 379 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, 661 380 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.124.1., on 381 or 662 before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect 382 to 663 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance proceeds that were 664 383 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any 665 384 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received 666 385 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to 667 386 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 668 387 insurance company and XxxxxBuyer’s lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney 669 388 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive due to such 670 389 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 692 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 693 the 660 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance 694 proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under 695 § 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 696 Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx is entitled to a credit at Closing for all insurance 697 proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus 698 the amount of any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event 699 Seller has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the 700 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 701 acceptable to Seller’s 668 insurance company and XxxxxBuyer’s lender; or (2) the parties may enter into a written agreement prepared by the 702 parties or their attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and 703 will receive due to such 670 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the 704 insurance claim.

Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss 659 674 prior to Closing (Property Damage) in an amount of not more than ten percent of the total Purchase Price (Property Damage) and if 675 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 676 insurance proceeds, 661 will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate 677 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. 678 Should Buyer elect to 663 carry out this Contract despite such Property Damage, Xxxxx Buyer is entitled to a credit at Closing for all insurance 679 proceeds that were 664 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus 680 the amount of any 665 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller 681 has not received 666 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property 682 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 683 to Seller’s 668 insurance company and XxxxxBuyer’s lender; or (2) the parties may enter into a written agreement prepared by the parties or 684 their attorney 669 requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive 685 due to such 670 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the insurance claim. 686 19.