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12. Buyer's Election to Accept Title: The Buyer shall have the election, at either the <br /> original or any extended time for performance to accept such title as the Seller can <br /> deliver to the said premises in their then condition and to pay therefore the <br /> purchase price without deduction, in which case the Seller shall convey such title, <br /> except that in the event of such conveyance in accord with the provisions of this <br /> clause, if the said premises shall have been damaged by fire or casualty insured <br /> against, then the Seller shall, unless the Seller has previously restored the <br /> premises to their former condition, either <br /> (a) pay over or assign to the Buyer, on delivery of the deed, all amounts <br /> recovered or recoverable on account of such insurance, less any amounts <br /> reasonably expended by the Seller for any partial restoration; or <br /> (b) if a holder of a mortgage on said premises shall not permit the insurance <br /> proceeds or a part thereof to be used to restore the said premises to their <br /> former condition or to be so paid over or assigned, give to the Buyer a <br /> credit against the purchase price, on delivery of the deed, equal to said <br /> amounts so recovered or recoverable and retained by the holder of the said <br /> mortgage less any amounts reasonably expended by the Seller for any <br /> partial restoration. <br /> 13. Acceptance of Deed. The acceptance of a deed by the Buyer or his nominee as <br /> the case may be, shall be deemed to be a full performance and discharge of every <br /> agreement and obligation herein contained or expressed, except such as are,by <br /> the terms hereof, to be performed after the delivery of said deed. <br /> 14. Use of Money to Clear Title: To enable the Seller to snake conveyance as herein <br /> provided, the Seller may, at the time of delivery of the deed,use the purchase <br /> money or any portion thereof to clear the title of any or all encumbrances or <br /> interests, provided that all instruments so procured are recorded simultaneously <br /> with the delivery of said deed,unless arrangements have been made to obtain <br /> such documentation subsequent to closing consistent with standard conveyancing <br /> practices. <br /> 15. Insurance: Until the delivery of the deed, the Seller shall maintain insurance on <br /> said premises as follows: <br /> Type of insurance Amount of coverage <br /> (a) Fire and extended coverage As presently insured <br /> (b) Builders Risk As presently insured <br />