Common use of Risk of Loss and Insurance Clause in Contracts

Risk of Loss and Insurance. Prior to closing, risk of loss, damage, or destruction of premises shall be assumed solely by the Seller until the Deed is delivered to Buyer at closing. Seller shall maintain insurance on the property. If the premises are destroyed more than 70% of its value prior to closing, Buyer may choose to terminate this agreement and be refunded the down payment. Seller may also choose to terminate this agreement and refund the down payment to Buyer.

Risk of Loss and Insurance. Prior Until the Deed is delivered to Buyer at closing, risk of loss, damage, or destruction of premises shall be assumed solely by the Seller until the Deed is delivered to Buyer at closingSeller. Seller shall maintain insurance on the property. If the premises are destroyed more than 70% of its value prior to closing, Buyer and/or Seller may choose to terminate this agreement and be refunded the down payment. Seller may also choose to terminate this agreement Agreement and refund the down payment to Buyerpayment.

Risk of Loss and Insurance. Prior to closing, risk of loss, damage, or destruction of premises shall be assumed solely by the Seller until the Deed is delivered to Buyer at closing. Seller shall maintain insurance on the property. If the premises are destroyed more than 70% of its value prior to closing, Buyer may choose to terminate this agreement and be refunded the down payment. Seller seller may also choose to terminate this agreement and refund the down payment to Buyer.

Risk of Loss and Insurance. Prior Until the Deed is delivered to Buyer at closing, risk of loss, damage, or destruction of premises shall be assumed solely by the Seller until the Deed is delivered to Buyer at closingSeller. Seller shall maintain insurance on the property. If the premises are destroyed more than 70% of its value prior to closing, Buyer and/or Seller may choose to terminate this agreement and be refunded the down payment. Seller may also choose to terminate this agreement Agreement and refund the reservation payment and down payment to Buyerpayment.

Risk of Loss and Insurance. Prior to closing, risk of loss, damage, or destruction of premises shall be assumed solely by the Seller until the Deed is delivered to Buyer at closing. Until the delivery of the Deed, Seller shall maintain fire and extended coverage insurance on the propertyunit. If the premises are destroyed more than 70% of its value prior to closing, Buyer may choose to terminate this agreement and be refunded the down payment. Seller may also choose to terminate this agreement and refund the down payment to Buyer.