Common use of LENDER REQUIRED REPAIRS Clause in Contracts

LENDER REQUIRED REPAIRS. Seller agrees to make any repairs required by the lending institution not to exceed $ ($0.00 if left blank). If such repairs exceed this amount and Seller refuses to pay the excess, Buyer may pay the excess, or (if not prohibited by Xxxxx's lender) accept the Property with the limited repairs, or accept the above-specified amount at closing as a reduction of the Purchase Price, or Buyer may cancel this Contract by notifying Seller in writing within hours (24 hours if left blank) of Xxxxx being informed of Xxxxxx's refusal to pay the excess cost of repairs. Should Buyer fail to cancel this Contract after being informed of Xxxxxx's refusal to pay the excess cost of repairs the Contract shall be closed as scheduled.

LENDER REQUIRED REPAIRS. Seller agrees to make any repairs required by the lending institution not to exceed $ ($0.00 if left blank). If such repairs exceed this amount and Seller Xxxxxx refuses to pay the excess, Buyer Xxxxx may pay the excess, or (if not prohibited by Xxxxx's lender) accept the Property with the limited repairs, or accept the above-specified amount at closing as a reduction of the Purchase Price, or Buyer may cancel this Contract by notifying Seller in writing within hours (24 hours if left blank) of Xxxxx Buyer being informed of XxxxxxSeller's refusal to pay the excess cost of repairs. Should Buyer fail to cancel this Contract after being informed of Xxxxxx's refusal to pay the excess cost of repairs the Contract shall be closed as scheduled.