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<br />shall not postpOne1he due date of the installments to be paid pursuant to this contract or <br />change-rhe -amount of such installments. The balance of insurance proceeds, if any, shall be <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 />seHers in any prior contracts for deed do nOLIequire otherwise, Purchaser may elcct 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 complUlY <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"1o <br />Seller within sixty days after the damage occurs. Also. lhe election will only be permitted if <br />the plans and ,-specifications and contracts for the repair work are -approved by Seller. which <br />approval Seller shall not unreasonable withhold or delay. If such a pennitted election is <br />made by Purchaser, Seller and Purchaser shall jointly deposit, wben paid, such insurance <br />proceeds into.$\Ich escrow. If~uch insurance proceeds are insufficientfor the repair work, <br />Purchaser .shall, before the conunencement 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 shaH at all times be responsible to pay1he full cost of the repair work. All <br />escrowed 1unds shall.be 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. .Purchaser shall complete the repair worlc-as soon as <br />reasonably possible and in a good and workmanlike manner, and in any event the repair <br />work-shall be completed by Purchaser within one yearaftcr the damage occurs. If, <br />fonowing thc.completion of and payment for the I'q)air wo1'lc, there remain any undisbursed <br />escrow.funds, such funds shall be applied to payment of~e amounts payable by Purchaser <br />under this contract in accordance with paragr~h 8(a) above. <br /> <br />9. INJURY OR DAMAGE OCCURRING ON THE PROPERTY. <br /> <br />(a) liABIliTY. Seller shall be free from liability and claims for damages by nreason of injuries <br />occurring on or after lhe date of this contract to any person or persons or property while ,on <br />or about the Property. Purchaser shall defend and indemnify Seller lrom all liability , loss, <br />costs, and obligations, inclUding reasonable attorneys'fees, on account .of or arising out of <br />any -such injuries. Howev.er, Purchaser -shall have no liability or obligation to Seller for such <br />injuries which are caused-by the negligence or intentional wrongful acts or omissions of <br />Seller. <br /> <br />(b) liABILITY INSURANCE. Purchasenhall, at Purcba-ser's own expense, procure and <br />maintain liability insurance against claims for bodily injury, death. and property damage <br />occurring on or about the Property in amounts reasonably satisfactory to Seller and naming <br />Seller as an additional insured. <br /> <br />4 <br />