Common use of Xxxxx's Election to Accept Title Clause in Contracts

Xxxxx's Election to Accept Title. The Buyer shall have the election at either the original or the extended time period for performance to accept such title as the Seller can deliver to the said premises in their then condition and to pay therefore the purchase price without deductions, in which case the Seller shall convey such title except that in the event of such conveyance, in accordance with the provisions of this clause, if the said premises shall have been damaged by fire or casualty, insured against, then Seller shall, unless the Seller has previously restored the premises to their former condition, pay over or assign to the Buyer on delivery of the deed, all insurance amounts recovered, or recoverable on account of such damage less any amount reasonably expended by the Seller for any partial restoration together with a credit from Seller to Buyer equal to any deductible involved.