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6. EDSR 03-11-2013
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6. EDSR 03-11-2013
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3/7/2013 12:00:53 PM
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City Government
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3/11/2013
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a. The party that desires to terminate this Agreement (the"Terminating <br /> Party")must notify the other party(the"Non-Terminating Party"), in writing, of the <br /> Terminating Party's intent to terminate this Agreement. <br /> b. The Terminating Party's notice must recite the Section of this Agreement <br /> that authorizes the Terminating Party's termination of this Agreement and must describe <br /> the facts and circumstances which the Terminating Party asserts justify termination under <br /> the referenced Section. <br /> c. The Terminating Party's notice of termination is effective as of the date <br /> the Terminating Party deposits the notice of termination with the United States Postal <br /> Service, with all necessary postage paid, for delivery to the Non-Terminating Party via <br /> certified mail, return receipt requested, at the address set forth in Section 1. If the <br /> Terminating Party delivers a notice of termination in a different manner than described in <br /> the preceding sentence,the notice of termination is effective as of the date the Non- <br /> Terminating Party actually receives the notice of termination. The Terminating Party <br /> must also mail a copy of the notice of termination to the Parties respective attorneys as <br /> provided for in Section 26 below. <br /> d. If the Non-Terminating Party disputes the Terminating Party's right to <br /> terminate this Agreement,the Non-Terminating Party must so notify the Terminating <br /> Party, in writing, within five(5)business days of the Non-Terminating Party's receipt of <br /> the Terminating Party's notice of termination. <br /> e. If the Non-Terminating Party does not dispute the Terminating Party's <br /> right to terminate the Agreement, Buyer must execute and deliver to Seller a recordable <br /> quit claim deed or other recordable instrument evidencing the termination of Buyer's <br /> rights in the Property, and upon the receipt of such a quit claim deed or other instrument, <br /> Seller must return the Earnest Money to Buyer. <br /> f. If the Parties dispute the validity of an attempted termination of this <br /> Agreement, either Party may initiate a civil action in a court of competent jurisdiction to <br /> determine the status of this Agreement, and the Party that prevails in any such action is <br /> entitled to recover its reasonable attorneys' fees and costs in the action from the non- <br /> prevailing Party. <br /> 24. Time. Time is of the essence for all provisions of this Agreement. <br /> 25. Survival of Terms. The Parties' obligations under this Agreement survive <br /> Seller's delivery of a deed to Buyer and the closing of this transaction. <br /> 26. Notices. All notices provided for in this Agreement must be in writing. The <br /> notice must be effective as of the date two days after the Party sending such notice deposits the <br /> notice with the United States Postal Service with all necessary postage paid, for delivery to the <br /> other Party via certified mail,return receipt requested, at the address set forth in Section 1 above. <br /> If Party delivers a notice provided for in this Agreement in a different manner than described in <br /> the preceding sentence, notice must be effective as of the date the other party actually receives <br /> 8 <br />
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