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