Common use of Risk of Loss and Damage Clause in Contracts

Risk of Loss and Damage. In case the Property is wholly or substantially damaged by fire, storm or other casualty, Purchaser may elect, within twenty (20) days after receiving written notice thereof, to proceed hereunder with a mutually agreed adjustment in the terms of this Contract, or terminate this Contract and receive back all money deposited hereunder.

Risk of Loss and Damage. In case the Property is wholly or substantially damaged by fire, storm or other casualty, Purchaser may elect, within twenty (20) 20 days after receiving written notice thereof, to proceed hereunder with a mutually agreed adjustment in the terms of this Contract, or terminate this Contract and receive back all money deposited hereunder. In the event the Property is damaged by the Purchaser, or by any person upon the Property on the Purchaser's behalf (i.e. , inspector), such damage shall be repaired at Purchaser’s expense.

Risk of Loss and Damage. In case the Property is wholly or substantially partially damaged by fire, storm or other casualty, Purchaser may elect, within twenty (20) business days after receiving written notice thereof, to proceed hereunder with a mutually agreed adjustment in the terms of this Contract, or terminate this Contract and receive back all money deposited hereunder. In the event the Property is damaged by the Purchaser, or by any person upon the Property on the Purchaser's behalf (i.e. , inspector), such damage shall be repaired at Purchaser’s expense.

Risk of Loss and Damage. In case the Property is wholly or substantially damaged by fire, storm or other casualty, Purchaser may elect, within twenty (20) days after receiving written notice thereof, to proceed hereunder with a mutually agreed adjustment in the terms of this Contract, or terminate this Contract and receive back all money deposited hereunder. In the event the Property is damaged by the Purchaser, or by any person upon the Property on the Purchaser’s behalf (i.e., inspector, etc.), such damage shall be repaired at Purchaser’s expense.