Common use of Damage or Destruction of Property Clause in Contracts

Damage or Destruction of Property. Risk of loss to the Property shall be borne by Seller until Closing. If the Property is substantially damaged or destroyed prior to Closing either party may rescind this Purchase Agreement.

Damage or Destruction of Property. Risk of loss to the Property shall be borne by Seller until Closing. If the Property is substantially damaged or destroyed prior to Closing Closing, either party may rescind this Purchase Agreement.