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<br />shall not postpone-the due date of the installments to be paid pursuant to this contract or <br />changeLhe -amount of such installments. The balance of insurance proceeds, if any, shall ae <br />the property of Purchaser. <br /> <br />(b) PURCHASER'S ELECTION TO REBUILD. If Purchaser is not in default under-this <br />contract, or after curing any such default, and if the mortgagees in any prior mortgages -and <br />sellers in any prior contracts for deed do notJequire otherwise, Purchaser may eject to have <br />that portion of such insurance proceeds necessary to repair, replace, or restore the damaged <br />Property (the repair work) deposited in escrow with a .bank or title insurance company <br />qualified to do business in the State of Minnesota, or such .other party as may be mutually <br />agreeable to Seller and Purchaser. The election may only be made by written notice-to <br />Seller within sixty days after the damage occurs. Also, the electiori\vill only be permitted if <br />the plans amLspecifications and contracts for the repair work arellpproved by Seller, which <br />approval Seller shall not unreasonable withhold or delay. If such a permitted election is <br />made by Purchaser, Seller and Purchaser shall jointly deposit, when paid, such insurance <br />proceeds into..5Uch escrow. If-such insurance proceeds are insufficient Tor the repair work, <br />Purchaser ..shall, before the commencement of repair work, deposit into such escrow <br />sufficient additional money to insure the full payment for the repair work. Even if the <br />insurance.proceeds are unavailable or are insufficient to pay the cost of the repair work, <br />Purchaser shall at all times be responsible to pay-the full COSt of the repair work. All <br />escrowed _funds shalI JJe disbursed by the escrowee in accordance with generally accepted <br />sound construction disbursement procedures. The costs incurred or to be incurred on <br />account of such escrow shall be deposited by Purchaser into such escrow before the <br />commencement of the repair work. J>urchaser shall complete the repair work as soon as <br />reasonably possible and in a good and workmanlike manner, and in any event the n:pair <br />work-shall be completed by Purchaser within one year after the damage occurs. If, <br />following the.completion of and payment for the ~pair wol'k, there remain any undisbursed <br />escrow.funds, such funds shall be applied to payment ofLhe amounts payable by Purchaser <br />under this contract in accordance with paragrl!Ph 8(a) above. <br /> <br />9. INJURY OR DAMAGE OCCURRING ON THE PROPERTY. <br /> <br />(a) LIABIUTY. Seller shall be free from liability and claims for damages by ureason of injuries <br />occurring on or after the date of this contract to any person or persons or property while .on <br />or about the Property. Purchaser shall defend and indemnify Seller _from all liability, loss, <br />costs, and obligations, including reasonable attorneys' Tees, on account .of or arising out of <br />any -such injuries. Howe\ler, Purchaser -shall have no liability or obligation to Seller fur such <br />injuries which are caused-by the negligence or intentional wrongful acts or omissions of <br />Seller. <br /> <br />(b) LIABILITY INSURANCE. Purchaser-shall, at Purchaser's own expense, procure and <br />maintain liability insurance against claims for bodily injury, death, and property damage <br />occurring on or about the Pro~erty in amounts reasonably satisfactory to Seller and naming <br />Seller as an additional insured. <br /> <br />4 <br />