Common use of Repair Limitation Clause in Contracts

Repair Limitation. Seller agrees to make repairs which may be required by the lender and/or under Paragraph 8 and/or 9 hereof and to pay for such repairs up to but not to exceed an aggregate total cost of Dollars ( $ ). If the estimated aggregate total cost of such repairs for the above exceeds this amount, and if Seller refuses to pay such excess cost, Purchaser has the option to: (a) accept property with the limited repairs made and paid for by Seller (but if such repairs are required by lender, Purchaser must pay such excess cost of the repairs if the sale is to close); or (b) terminate this Contract, in which case all Xxxxxxx Money shall be refunded to Purchaser. Purchaser shall make his election within twenty- four (24) hours after Purchaser has been notified by Seller or Seller's agent or representative that Xxxxxx has refused to pay such excess cost of the repairs. If Purchaser fails to make this election within the time limit provided herein, then it shall be deemed to be Purchaser's election to accept Property with limited repairs and the sale shall be closed under the terms and conditions provided for in this Contract.

Repair Limitation. Seller agrees to make repairs which may be required by the lender and/or under Paragraph 8 and/or 9 hereof and to pay for such repairs up to but not to exceed an aggregate total cost of Dollars ( $ ). If the estimated aggregate total cost of such repairs for the above exceeds this amount, and if Seller refuses to pay such excess cost, Purchaser has the option to: (a) accept property with the limited repairs made and paid for by Seller (but if such repairs are required by lender, Purchaser must pay such excess cost of the repairs if the sale is to close); or (b) terminate this Contract, in which case all Xxxxxxx Money shall be refunded to Purchaser. Purchaser shall make his election within twenty- four (24) hours after Purchaser has been notified by Seller or Seller's agent or representative that Xxxxxx Seller has refused to pay such excess cost of the repairs. If Purchaser fails to make this election within the time limit provided herein, then it shall be deemed to be Purchaser's election to accept Property with limited repairs and the sale shall be closed under the terms and conditions provided for in this Contract.