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 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 562 550 loss prior to Closing in an amount of not more than ten percent of the total Purchase Price (Property Damage), Seller shall be 563 551 obligated to repair the same before Closing Date (§ 3). In the event such damage is not repaired within said time or if the damage 564 552 exceeds such sum, this Contract may be terminated at the option of Buyer. Buyer shall have the Right to Terminate under § 25.1, 565 553 on or before Closing Date (§ 3), based on any Property Damage not repaired before Closing Date (§ 3). Should Buyer elect to 566 554 carry out this Contract despite such Property Damage, Buyer shall be entitled to a credit at Closing for all insurance proceeds that 567 555 were received by Seller (but not the Association, if any) resulting from such damage to the Property and Inclusions, plus the 568 556 amount of any deductible provided for in such insurance policy. Such credit shall not exceed the Purchase Price. In the event Seller 569 557 has not received such insurance proceeds prior to Closing, the parties may agree to extend the Closing Date (§ 3) or, at the option 570 558 of Buyer, Seller shall assign such proceeds at Closing, plus credit Buyer the amount of any deductible provided for in such 571 559 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 562 561 loss prior to Closing in an amount of not more than ten percent of the total Purchase Price (Property Damage), Seller shall be 563 562 obligated to repair the same before Closing Date (§ 3). In the event such damage is not repaired within said time or if the damage 564 563 exceeds such sum, this Contract may be terminated at the option of Buyer. Buyer shall have the Right to Terminate under § 25.1, 565 564 on or before Closing Date (§ 3), based on any Property Damage not repaired before Closing Date (§ 3). Should Buyer elect to 566 565 carry out this Contract despite such Property Damage, Buyer shall be entitled to a credit at Closing for all insurance proceeds that 567 566 were received by Seller (but not the Association, if any) resulting from such damage to the Property and Inclusions, plus the 568 567 amount of any deductible provided for in such insurance policy. Such credit shall not exceed the Purchase Price. In the event Seller 569 568 has not received such insurance proceeds prior to Closing, the parties may agree to extend the Closing Date (§ 3) or, at the option 570 569 of Buyer, Seller shall assign such proceeds at Closing, plus credit Buyer the amount of any deductible provided for in such 571 570 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 562 615 loss prior to Closing in an amount of not more than ten percent of the total Purchase Price (Property Damage), Seller shall be 563 616 obligated to repair the same before Closing Date (§ 3). In the event such damage is not repaired within said time or if the damage 564 617 exceeds such sum, this Contract may be terminated at the option of Buyer. Buyer shall have the Right to Terminate under § 25.1, 565 618 on or before Closing Date (§ 3), based on any Property Damage not repaired before Closing Date (§ 3). Should Buyer elect to 566 619 carry out this Contract despite such Property Damage, Buyer shall be entitled to a credit at Closing for all insurance proceeds that 567 620 were received by Seller (but not the Association, if any) resulting from such damage to the Property and Inclusions, plus the 568 621 amount of any deductible provided for in such insurance policy. Such credit shall not exceed the Purchase Price. In the event Seller 569 622 has not received such insurance proceeds prior to Closing, the parties may agree to extend the Closing Date (§ 3) or, at the option 570 623 of Buyer, Seller shall assign such proceeds at Closing, plus credit Buyer the amount of any deductible provided for in such 571 624 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 562 551 loss prior to Closing in an amount of not more than ten percent of the total Purchase Price (Property Damage), Seller shall be 563 552 obligated to repair the same before Closing Date (§ 3). In the event such damage is not repaired within said time or if the damage 564 553 exceeds such sum, this Contract may be terminated at the option of Buyer. Buyer shall have the Right to Terminate under § 25.1, 565 554 on or before Closing Date (§ 3), based on any Property Damage not repaired before Closing Date (§ 3). Should Buyer elect to 566 555 carry out this Contract despite such Property Damage, Buyer shall be entitled to a credit at Closing for all insurance proceeds that 567 556 were received by Seller (but not the Association, if any) resulting from such damage to the Property and Inclusions, plus the 568 557 amount of any deductible provided for in such insurance policy. Such credit shall not exceed the Purchase Price. In the event Seller 569 558 has not received such insurance proceeds prior to Closing, the parties may agree to extend the Closing Date (§ 3) or, at the option 570 559 of Buyer, Seller shall assign such proceeds at Closing, plus credit Buyer the amount of any deductible provided for in such 571 560 insurance policy, but not to exceed the total Purchase Price.