Destruction of Improvements. (a) If, prior to Closing, any of the Improvements on any of the properties that comprise the Property are damaged or destroyed such that the cost of repair or replacement of such improvements is material (“Material Damage”), or a condemnation proceeding is commenced or threatened in writing by a governmental or quasi-governmental agency with the power of eminent domain (“Condemnation”), then:
Appears in 21 contracts
Samples: Single Family Homes (Reven Housing REIT, Inc.), Real Estate Purchase and Sale Agreement (Reven Housing REIT, Inc.), Real Estate Purchase and Sale Agreement (Reven Housing REIT, Inc.)