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Ow <br /> • 15. Complete Agreement. This is a final agreement between the parties and <br /> contains their entire agreement and supersedes all previous understandings and <br /> agreements, oral or written, relative to the subject matter of this Purchase Agreement. <br /> 16. Time of the Essence. Time is of the essence in the performance of this <br /> Purchase Agreement. <br /> 17. Controlling Law. This Purchase Agreement has been made and entered <br /> into under the laws of the State of Minnesota, and said laws shall control the <br /> interpretation hereof. <br /> 18. Captions. The paragraph headings or captions appearing in this <br /> Purchase Agreement are for convenience only, are not a part of this Purchase <br /> Agreement, and are not to be considered in interpreting this Purchase Agreement. <br /> 19. Binding Effect. This Purchase Agreement shall be binding upon and <br /> enforceable against each of the parties hereto when and only if executed by the party <br /> against whom enforcement of this Purchase Agreement is sought. <br /> IN WITNESS WHEREOF, the parties have executed this Purchase Agreement <br /> on the date first above written. <br /> • Seller: <br /> ECONOMIC DEVELOPMENT IN AND FOR <br /> THE CITY OF ELK RIVER <br /> By <br /> Its <br /> Buyer: <br /> David S. Ripplinger <br /> Carole A. Ripplinger <br /> • <br /> -6- <br />