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The Design & Publishing Center Presents: Russ Nolte: Business Instruments Russ Nolte has provided this document as a sample of his collection of 56 pages covering 35 forms on Demands, Notes, Guarantees, Joint Property, Letter of Credit, Power of Attorney, Capital Investment, ETC. This collection may be ordered for $6 with delivery by diskett (Macintosh format) or EMail (IBM or Mac). Russ Nolte, P.O.Box 1033 Torrance, CA 90505 The following is for your free use. * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * CONTRACT CLAUSE PROPERTY DAMAGED OR DESTROYED 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. If Seller does not elect to make repair/replacement, or if Seller elects to make repair/replacement but fails to complete same before the adjourned closing date, Buyer shall advise Seller of Buyer's option of either: (i) declaring this agreement cancelled in which event the deposit or down-payment paid by Buyer shall be refunded to Buyer without interest and neither party shall have any further obligation or liability to the other; or (ii) completing the purchase in accordance with this agreement without reduction in the purchase price except that if Seller's insurance covers the loss or damage, Seller shall turn over to Buyer at the closing the net proceeds (after legal and other expenses of collection) actually collected by Seller under the provisions of any insurance policies to the extent that they are attributable to the loss or damage to any property included in this sale and if Seller has not received such proceeds Seller shall assign (without recourse to Seller) Seller's insurance attributable to the loss or damage to any property included in this sale, less any sums expended by Seller. Buyer's option, whether resulting from either: (i) Seller's election to not make repair/replacement, or (ii) Seller's failure, within the time provided, to make repair/replacement despite having elected to do so, shall be exercised within ______ (__) days of the earlier of: (i) Seller having advised Buyer of Seller's election to not make repair/replacement, or (ii) Seller's assignment of any insurance proceeds. Buyer's option resulting from Seller's failure to timely make repair/replacement shall be exercised within ______ (__) days of the adjourned closing date. [FORM L-8F] 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). Russ Nolte, P.O.Box 1033, Torrance, CA 90505

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