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2022-07-13_REVISION - M1983164
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2022-07-13_REVISION - M1983164
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Entry Properties
Last modified
7/14/2022 9:04:17 AM
Creation date
7/14/2022 8:59:00 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
M1983164
IBM Index Class Name
Revision
Doc Date
7/13/2022
Doc Name
Issuance Documents
From
DRMS
To
Conejos County Government
Type & Sequence
SO4
Email Name
CCW
THM
SMS
Media Type
D
Archive
No
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CRRCo4rtie as Gaunary Cleat an01�6bRecorder Page: 12 of 17 <br /> Mlno ee 10 OC p�M Rciec Fee: $0.00 <br /> J <br /> 12.1. Causes of Loss, Insurance. In the event the Property or <br /> Inclusions are damaged by fire, other perils or causes of loss <br /> prior to Closing (Property Damage) in an amount of not more than <br /> ten percent of the total Purchase Price and if the repair of the <br /> damage will be paid by insurance (other than the deductible to <br /> be paid by Seller) , then Seller, upon receipt of the insurance <br /> proceeds, will use Seller's reasonable efforts to repair the <br /> Property before Closing Date. Buyer has the Right to Terminate, <br /> on or before Closing Date, if the Property is not repaired <br /> before Closing Date, or if the damage exceeds such sum. Should <br /> Buyer elect to carry out this Contract despite such Property <br /> Damage, Buyer is not entitled to a credit at Closing for all <br /> insurance proceeds that were received by Seller (but not the <br /> Association, if any) resulting from damage to the Property and <br /> Inclusions. Seller and Buyer may agree to extend the Closing <br /> Date to have the Property repaired prior to Closing. <br /> 12.2. Damage, Inclusions and Services. Should any Inclusion or <br /> service (including utilities and communication services) , <br /> system, component or fixture of the Property (collectively <br /> Service) (e.g. , heating or plumbing) , fail or be damaged between <br /> the date of this Contract and Closing or possession, whichever <br /> is earlier, then Seller is liable for the repair or replacement <br /> of such Inclusion or service with a unit of similar size, age <br /> and quality, or an equivalent credit, but only to the extent <br /> that the maintenance or replacement of such Inclusion or Service <br /> is not the responsibility of the Association, if any, less any <br /> insurance proceeds received by Buyer covering such repair or <br /> replacement. If the failed or damaged Inclusion or Service is <br /> not repaired or replaced on or before Closing or possession, <br /> whichever is earlier, Buyer has the Right to Terminate, on or <br /> before Closing Date, or, at the option of Buyer, Buyer is <br /> entitled to a credit at Closing for the repair or replacement of <br /> such Inclusion or Service. Such credit must not exceed the <br /> Purchase Price. If Buyer receives such a credit, Sellers right <br /> for any claim against the Association, if any, will survive <br /> Closing. <br /> 12.3. Condemnation. In the event Seller receives actual notice <br /> prior to Closing that a pending condemnation action may result <br /> in a taking of all or part of the Property or Inclusions, Seller f <br /> must promptly notify Buyer, in writing, of such condemnation <br /> action. Buyer has the Right to Terminate, on or before Closing <br /> Date, based on such condemnation action, in Buyer's sole <br /> subjective discretion. Should Buyer elect to consummate this <br /> Contract despite such diminution of value to the Property and <br /> i <br /> Page 12 of 16 <br />
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