Common use of Casualty Clause Clause in Contracts

Casualty Clause. if the improvements on the Property are damaged by casualty before closing and the estimated loss of repair is less than 10% of the purchase price, then Seller shall repair the damage. If the estimated cost of repair is greater than 10% of the purchase price, or if repairs cannot be completed by closing, then the parties will bargain in good faith to renegotiate the contract. If renegotiation is unsuccessful, then either Buyer or Seller may cancel this contract.

Casualty Clause. if If the improvements on the Property are damaged by casualty before closing and the estimated loss of repair is less than 10% of the purchase price, then Seller shall repair the damage. If the estimated cost of repair is greater than 10% of the purchase price, or if repairs cannot be completed by closing, then the parties will bargain in good faith to renegotiate the contract. If renegotiation is unsuccessful, then either Buyer or Seller may cancel this contract.

Casualty Clause. if If the improvements on the Property are damaged by casualty before closing and the estimated loss of repair is less than 10% of the purchase price, then Seller shall repair the damage. If the estimated cost of repair is greater than 10% of the purchase price, or if repairs cannot be completed by closing, then the parties will bargain in good faith to renegotiate the contractAgreement. If renegotiation is unsuccessful, then either Buyer or Seller may cancel this contractAgreement and Xxxxx’s xxxxxxx money shall be returned in full.