Destruction of Improvements. If the improvements of the property are destroyed, materially damaged, or found to be materi- ally defective as a result of such damage pr ior to close of escrow, Buyer may terminate this Agreement by written notice delivered to Seller or his or her Broker, and all unused deposits will be returned. In the event Buyer does not elect to terminate this Agree- ment, Buyer will be entitled to receive, in addition to the property, any insurance proceeds payable on account of the damage or destruction.
Appears in 3 contracts
Samples: Residential Purchase Agreement, Residential Purchase Agreement, Residential Purchase Agreement
Destruction of Improvements. If the improvements of the property are destroyed, materially damaged, or found to be materi- ally materially defective as a result of such damage pr ior prior to close of escrow, Buyer may terminate this Agreement by written notice delivered to Seller or his or her Broker, and all unused deposits will be returned. In the event Buyer does not elect to terminate this Agree- mentAgreement, Buyer will be entitled to receive, in addition to the property, any insurance proceeds payable on account of the damage or destruction.
Appears in 2 contracts
Samples: Residential Purchase Agreement, Commercial/Investment Purchase Agreement (Tenfold Corp /Ut)
Destruction of Improvements. If the improvements of the property are destroyed, materially damaged, or found f ound to be materi- ally defective as a result of such damage pr ior prior to close of escrow, Buyer may terminate this Agreement by written notice delivered to Seller or his or her Broker, and all unused deposits will be returned. In the event Buyer does not elect to terminate this Agree- mentAgreement, Buyer will be entitled to receive, in addition to the property, any insurance proceeds payable on account of the damage or destruction.
Appears in 1 contract
Samples: Residential Purchase Agreement
