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RISK OF LOSS OR DAMAGE - The risk of loss or damage to the
Premises, or to the fixtures, equipment and personal property included in this sale,
by fire or other cause, until the time of the closing, is assumed by Seller, but
without any obligation on the part of Seller, except at Seller's option, to repair
or replace any such loss or damage. Seller shall have the option to elect to make
either repair or replacement. Seller shall notify Buyer of the loss or damage within
________ (____) days after the occurrence or by the date of closing, whichever occurs
first. Seller's notice to Buyer will also advise Buyer whether or not Seller will
repair or replace the loss or damage and if Seller elects to do so, that he will
complete the repair or replacement within _________ (____) days and the closing will
be adjourned for this purpose and without cost or penalty to either Seller or Buyer.
If Seller elects to make repair/replacement, Seller's notice will also state the
adjourned date for the closing.
About this file:
This file was originally uploaded to AOL as "freeware" by Russ Nolte . You are encouraged to contact Russ for 56 pages covering 35 forms on Demands, Notes, Guarantees, Joint Property, Letter of Credit, Power of Attorney, Capital Investment, etc., which may be ordered for $6 with delivery by diskett (Macintosh format ) or EMail (IBM or Mac).
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