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<br />e <br /> <br />e. <br /> <br />. <br /> <br />If to Sellers: <br /> <br />Earl and Lorraine Hohlen <br />39 Main Street <br />Elk River, MN 55330 <br /> <br />With a copy to: <br /> <br />John Mac Gibbon, Esq. <br />261 East Broadway <br />P.O. Box 999 <br />Monticello, MN 5532 <br /> <br />If to Buyer: <br /> <br />Associated Developers of the Twin Cities, Inc. <br />6801 West 150th Street <br />Apple Valley, MN 55124 <br /> <br />With a copy to: <br /> <br />Anthony J. Gleekel, Esq. <br />Siegel, Brill, Greupner & Duffy, P.A. <br />100 Washin~ton Square, Suite 1300 <br />Minneapolis, MN 55401 <br /> <br />Any party may chan~e its address for the service of notice by g~v~ng written <br />notice of such change to the other party in any manner above specified. <br /> <br />18. Captions. The paragraph headings or captions appearing in this <br />Agreement are for convenience only, are not a part of this Agreement and are <br />not to be considered in interpreting this Agreement. <br /> <br />19. Entire Agreement; Modification. This written Agreement constitutes <br />the complete agreement between the parties and supersedes any prior oral or <br />written agreements between the parties regarding the Property. There are <br />no verbal agreements that change this Agreement and no waiver of any of its <br />terms will be effective unless in a writing executed by the parties. <br /> <br />20. Binding Effect. This Agreement binds and benefits the parties <br />and their heirs, repre~entatives, successors and assigns. <br /> <br />21. Governing Law. This Agreement has been entered into in the State <br />of Minnesota and shall be governed by and construed in accordance with the <br />laws of the State of Minnesota. <br /> <br />22. Remedies. If Buyer defaults under this Agreement, Sellers shall <br />have the right to terminate this Agreement by giving thirty (30) days written <br />notice to Buyer. If Buyer fails to cure such.default within thirty (30) days <br />of the date of such notice, this Agreement will terminate, and upon such <br />termination, Sellers shall retain the earnest money as liquidated damages, <br />time being of the essence of this Agreement. The termination of this Agreement <br />and retention of the earnest money will be the sole remedy available to Sellers <br />for such default by Buyer, and Buyer will not be liable for damages or specific <br />performance. If Sellers default under this Agreement, buyer may terminate <br />this Agreement by giving fifteen (15) days written notice to Sellers. If <br />Sellers fail to cure such defriult within said fifteen (15) days of the date <br /> <br />-12- <br />