Common use of Price Escalation Clause Clause in Contracts

Price Escalation Clause. Buyer and Seller acknowledge COVID 19 and other market conditions have caused dramatic material and labor shortages. Consequently, material and labor suppliers have at times substantially increased prices. Therefore, Buyer and Seller agree that if Seller experiences a $2,000 or more increase in the costs of material or labor to be used in the construction of Property, Seller may request an increase in the purchase price of Property. Buyer shall have the right to refuse the increase, and Seller shall cancel Agreement if Buyer refuses the increase. Buyer agrees to accept or reject the price increase within five (5) calendar days of notification to Buyer or Buyer's agent. If Buyer does not agree to accept price increase or fails to respond by the end of the notification period, Seller shall cancel Agreement. Seller shall have the right to ask for a price increase at any and all times that increases are greater than $2,000 in the costs of material or labor. BUYER BUYER

Price Escalation Clause. Buyer and Seller acknowledge COVID 19 and other market conditions have caused dramatic material and labor shortages. Consequently, material and labor suppliers have at times substantially increased prices. Therefore, Buyer and Seller agree that if Seller experiences a $2,000 or more increase in the costs of material or labor to be used in the construction of Property, Seller may request an increase in the purchase price of Property. Buyer shall have the right to refuse the increase, and Seller shall cancel Agreement if Buyer Xxxxx refuses the increase. Buyer Xxxxx agrees to accept or reject the price increase within five (5) calendar days of notification to Buyer or BuyerXxxxx's agent. If Buyer Xxxxx does not agree to accept price increase or fails to respond by the end of the notification period, Seller shall cancel Agreement. Seller shall have the right to ask for a price increase at any and all times that increases are greater than $2,000 in the costs of material or labor. BUYER BUYER

Price Escalation Clause. Buyer Owner and Seller Builder acknowledge COVID 19 and other market conditions have caused dramatic material and labor shortages. Consequently, material and labor suppliers have at times substantially increased prices. Therefore, Buyer Owner and Seller Builder agree that if Seller Builder experiences a $2,000 or more increase in the costs of material or labor to be used in the construction of Propertythe home, Seller Builder may request an increase in the purchase build price of Propertyhome. Buyer Owner shall have the right to refuse the increase, and Seller the Builder shall cancel Agreement if Buyer Owner refuses the increase. Buyer Owner agrees to accept or reject the price increase within five (5) calendar days of notification to Buyer Owner or Buyer's Owner’s agent. If Buyer Owner does not agree to accept price increase or fails to respond by the end of the notification period, Seller Builder shall cancel Agreement. Seller Builder shall have the right to ask for a price increase at any and all times that increases are greater than $2,000 2000 in the costs of material or labor. [ ] BUYER BUYER[ ] BUYER [ ] BUYER [ ] BUYER [ ] SELLER HAVE READ THIS PAGE