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 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. 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 PricePrice (Property Damage), Seller shall be is obligated to repair the same before Closing Date (§ 2.33). In Buyer has the 449 event such damage Right to Terminate under § 25.1, on or before Closing Date (§ 3), if the Property Damage is not repaired within said time before Closing Date (§ 3) 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 damageProperty Damage, Buyer 451 shall be 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 452 damage to the Property and Inclusions, plus the amount of any deductible provided for in such insurance policy. Such credit shall must not exceed the 453 Purchase Price. In the event Seller has not received such insurance proceeds prior to Closing, then the parties may agree to extend the Closing Date (§ 3) or, at the option of Buyer, Seller shall must 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. 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. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss prior to Closing 448 449 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 449 450 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 450 451 delivering to Seller written notice of termination on or before Closing. Should Buyer elect to carry out this Contract despite such damage, Buyer 451 452 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 452 453 damage to the Property and Inclusions, plus the amount of any deductible provided for in such insurance policy. Such credit shall not exceed the 453 454 Purchase Price. In the event Seller has not received such insurance proceeds prior to Closing, then Seller shall assign such proceeds at Closing, plus 454 455 credit Buyer the amount of any deductible provided for in such insurance policy, but not to exceed the total Purchase Price.