5.7. SR 04-04-2011 - Laserfiche WebLink

Home Browse Search

17. Captions. The paragraph headings or captions appearing in this Agreement are for convenience only, are not a part of this Agreement and are not to be considered in interpreting this Agreement. 18. Entire Agreement; Modification. This written Agreement constitutes the complete agreement betvaeen the parties and supersedes any prior oral or written agreements between the parties regarding the Property. There are no verbal agreements that change this Agreement and no waiver of any of its terms will be effective unless in a writing executed by the parties. 19. Binding Effect. This Agreement binds and benefits the parties and their successors and assigns. 20. Controlling Law. Minnesota law will govern this Agreement. 21. Remedies. Seller's Remedies: If Buyer defaults under this Agreement, Seller shall have the right to terminate this Agreement by giving thirty (30) days written notice to Buyer. If Buyer fails to cure the default within thirty (30) days of service of the notice, this Agreement will then terminate. Upon such termination, Seller may retain the Earnest Money and interest, if any, as liquidated damages as a result of the cancellation. Alternatively, Seller may bring suit against Buyer to specifically perform this Agreement. The termination of this Agreement and retention of Earnest Money as provided herein, or the suit for specific performance will be the exclusive remedies available to Seller for any default by Buyer, and in no case will Buyer be liable for any other damages or lost profits. Buyer's Remedies: If Seller defaults under this Agreement, Buyer shall have the right terminate this Agreement by giving thirty (30) days written notice to Seller. If Seller fails to cure the default within thirty (30) days of service of the notice, this Agreement will then terminate. Upon such termination, the Earnest Money and interest, if any, shall be refunded to Buyer. Alternatively, Buyer may bring suit against Seller to specifically perform this Agreement. The termination of this Agreement and reimbursement of Earnest Money provided herein, or the suit for specific performance will be the exclusive remedies available to Buyer for any default by Seller, and in no case will Seller be liable for any other damages or lost profits. 22. Counterparts. This Agreement may be executed in any number of Counterparts, all of which together shall constitute the Agreement, and facsimile signatures shall be sufficient. 23. Seller's Contingeney. This Purchase Agreement and sale are contingent upon Seller securing the consent for the sale from FTN Financial. Seller shall provide notice and copies of said consent to Buyer within thirty (30) days of the date of this Agreement. If consent is not received within the 30-day period, this Agreement may be declared void by either party upon written notice and Seller shall return the earnest money to Buyer and shall reimburse Buyer for Buyer's actual out-of-pocket costs for title work, survey and attorney's fees. GP:2945285 v4 11