Selections. Buyer(s) shall be permitted to make, as is reasonably possible and where Xxxxx(s) has a choice, selections of color, feature, style and material for the Home by mortgage commitment date or within eighteen (18) days after the effective date of this Contract, whichever occurs first. If these selections are not made within such time, Buyer(s) hereby authorizes Contractor to make such selections for the Property as Contractor deems advisable. In the event Buyer(s) makes selections, requests, changes or orders “extras” which result in a net increase in cost (excess of charges over credits), the additional cost shall be paid in full and in cash by Xxxxx(s) to Contractor at the time such selections or requests are made, and such selections or requests shall not be deemed to have been made unless and until payment therefor is received by Contractor. If Buyer(s) defaults or in any way terminates this Agreement, including the invocation of any statutory right to do so, such payments are not and shall not be refundable, whether or not the subject selections or changes are wholly or partially executed, and any such payments so retained by Contractor shall be separate from and in addition to liquidated damages, if any, as defined elsewhere in this Agreement. If selections or requests made by Buyer(s) result in a net credit (excess of credits over charges), such credit shall be applied to reduce the balance due from Buyer(s) at closing.
Appears in 6 contracts
Samples: Administrative Services Addendum, Administrative Services Addendum of Additional Terms, Administrative Services Addendum of Additional Terms
Selections. Buyer(s) shall be permitted to make, as is reasonably possible and where Xxxxx(sBuyer(s) has a choice, selections of color, feature, style and material for the Home by mortgage commitment date or within eighteen twenty-five (1825) days after the effective date of this Contract, whichever occurs first. If these selections are not made within such time, Buyer(s) hereby authorizes Contractor to make such selections for the Property as Contractor deems advisable. In the event Buyer(s) makes selections, requests, changes or orders “extras” which result in a net increase in cost (excess of charges over credits), the additional cost shall be paid in full and in cash by Xxxxx(sBuyer(s) to Contractor at the time such selections or requests are made, and such selections or requests shall not be deemed to have been made unless and until payment therefor is received by Contractor. If Buyer(s) defaults or in any way terminates this Agreement, including the invocation of any statutory right to do so, such payments are not and shall not be refundable, whether or not the subject selections or changes are wholly or partially executed, and any such payments so retained by Contractor shall be separate from and in addition to liquidated damages, if any, as defined elsewhere in this Agreement. If selections or requests made by Buyer(s) result in a net credit (excess of credits over charges), such credit shall be applied to reduce the balance due from Buyer(s) at closing.
Appears in 5 contracts
Samples: Addendum to Agreement of Sale, Addendum to Agreement of Sale, Addendum to Agreement of Sale
