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be given or served by the parties, shall be deemed to have been given or served on the date the same <br />is personally served upon one of the following indicated recipients for notices or is deposited in <br />the United States Mail, registered or certified, return receipt requested, postage prepaid and <br />addressed as follows: <br />SELLERS: <br />BUYER: Elk River Economic Development Authority <br />Attn: Amanda Othoudt <br />13065 Orono Parkway <br />Elk River, MN 55330 <br />AGENT: Kennedy & Graven, Chartered <br />ATTN: Jenny Boulton <br />470 U.S. Bank Plaza <br />200 South Sixth Street <br />Minneapolis, MN 55402 <br />16. Entire Agreement. This Agreement, Exhibits, and other amendments signed by <br />the parties, shall constitute the entire Agreement between the Sellers and the Buyer and supersedes <br />any other written or oral agreements between the parties relating to the Property. This <br />Agreement can be modified only in a writing properly signed on behalf of the Sellers and the <br />Buyer; except that the Closing Date may be extended up to six months by written agreement of the <br />Sellers and the Buyer without further approval by Buyer's City Council. The Buyer's staff is hereby <br />authorized to execute agreements to extend the Closing Date up to six months from the Closing Date <br />at paragraph 7 above. <br />17. Survival. Notwithstanding any other provisions of law or court decision to the <br />contrary, the provisions of this Agreement shall survive closing. <br />18. Binding Effect. This Purchase Agreement binds and benefits the parties and their <br />heirs, successors and assigns. <br />9 <br />503326v3 JSB ELI85-52 <br />