Common use of Casualty Loss Clause in Contracts

Casualty Loss. If any part of the Property is damaged or destroyed by fire or other casualty loss after the effective date of the contract, Seller shall restore the Property to its previous condition as soon as reasonably possible. If Seller fails to do so due to factors beyond Seller’s control, Buyer may either (a) terminate this contract and the xxxxxxx money will be refunded to Buyer, (b) extend the time for performance and the Closing Date will be extended as necessary, or (c) accept the Property in its damaged condition and accept an assignment of insurance proceeds.

Casualty Loss. If any part of the Property property is damaged or destroyed by fire or other casualty loss after the effective date of the contractloss, Seller shall restore the Property property to its previous condition as soon as reasonably possible. If In any event, by the Closing Date, if the Seller fails is unable to do so due to factors beyond Seller’s controlwithout fault, Buyer may either (a) terminate this contract and contract, receiving the xxxxxxx money will be refunded to BuyerBuilder Deposit, or (b) extend the time for performance as needed and the Closing Date will be extended as necessary, or (c) accept the Property in its damaged condition and accept an assignment of insurance proceedsaccordingly.

Casualty Loss. If any part of the Property is damaged or destroyed by fire or other casualty loss after the effective date of the contract, Seller shall restore the Property to its previous condition as soon as reasonably possible. If Seller fails to do so due to factors beyond Seller’s control, Buyer may either (a) terminate this contract and the xxxxxxx money will be refunded to Buyer, (b) extend the time for performance and the Closing Date will be extended as necessary, or (c) accept the Property in its damaged condition and accept an assignment of insurance proceeds.,

Casualty Loss. If any part of the Property is damaged or destroyed by fire or other casualty loss after the effective date of the contract, Seller shall restore the Property to its previous condition as soon as reasonably possible. If Seller fails to do so due to factors beyond Seller’s 's control, Buyer may either (a) terminate this contract and the xxxxxxx money will be refunded to Buyer, (b) extend the time for performance and the Closing Date will be extended as necessary, or (c) accept the Property in its damaged condition and accept an assignment of insurance proceeds.