Pirtle bought a historic building with a mortgage and insured it with Rockford Mutual Insurance Co. (RMIC). The building was damaged by an accidental fire, and Pirtle made a claim on his insurance. The independent adjuster hired by RMIC estimated the damage to be $79,907, and RMIC authorized a settlement of $80,000. Pirtle rejected it because it was not enough to cover the mortgage or repair the building, and the policy limit was $193,000. Because of the damage, he was unable to lease the building. A contractor hired by Pirtle estimated the damages to be $232,915. 

A second RMIC claims supervisor accepted that estimate after noticing that no other contractor would do the work for $80,000 and offered Pirtle the $193,000 limit on his policy but said he had to repair the building first. When Pirtle hired an attorney, RMIC offered him $69,875, which it considered to be the actual cash value of the building. Pirtle sued for breach of contract, but accepted $86,147 while continuing to contest the actual cash value. Is Pirtle bound by the condition precedent to repair the building in order to receive payment under the insurance policy? Why?