![]() ![]() on the Insurance Contingency Date indicated in paragraph 5, whereupon all obligations of the parties under this Agreement shall cease and BUYER’s deposits shall be promptly returned in full. ![]() Should the BUYER be unable to obtain a satisfactory insurance binder despite diligent efforts, BUYER may cancel this Agreement by submitting a written cancellation notice and a copy of proof of insurance application to the Listing Broker or Seller’s Attorney, no later than 5:00 p.m. The requirements and cost of homeowner and flood insurance include, but are not limited to, property attributes, risk ratings, applicant’s credit rating and policy limits and must be individually determined by the insurance carrier. Past coverage or premiums paid by the SELLER are not an indication of the BUYERs insurance obligations for the property. BUYER’s mortgage lender may require the purchase of additional flood insurance if they determine the property is located in Special Flood Hazard Area ( SFHA). BUYER should consult with their lender and insurance carrier to determine the insurance coverage required for the Property and the premiums for such insurance coverage. INSURANCE CONTINGENCY. The BUYER’s obligations hereunder are contingent upon the BUYER’s satisfaction with the insurability of the property. ![]()
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