7.2. HRSR 06-04-2018 - Laserfiche WebLink

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testing of groundwater monitoring wells, as the Buyer shall elect; provided, that the Selle;: kSellers are given at least 24 hours' notice. 12. Relocation Benefits; Indemnification. The Seller aeknowledges5geRem acknowledee that the Seller —isSellers are being displaced from the Property as a result of the transaction contemplated by this Purchase Agreement and that the Seller is$elleIs maybe eligible for relocation assistance and benefits and that the Purchase Price includes compensation for any and all relocation assistance and benefits for which the Se}lerSellers may be eligible and the Seller agreesSellers aeree to waive any and all further relocation assistance benefits. The provisions of this paragraph shall survive closing of the transaction contemplated by this Purchase Agreement. 13. Risk of Loss. If there is any loss or damage to the Property between the date hereof and the Closing Date, for any reason including fire, vandalism, flood, earthquake or act of God, the risk of loss shall be on the Seller eller . If the Property is destroyed or substantially damaged before the Closing Date, this Agreement may become null and void, at the Buyer's option. At the request of the Buyer, the Sellef a rees=SS=1=1ers asree to sign a cancellation of Agreement. 14. Default/Remedies. If the Buyer defaults in any of the covenants herein, the SellerSellers may terminate this Agreement, and on such termination all payments made hereunder shall be retained by the SelleFSellers as liquidated damages, time being of the essence. This provision shall not deprive either party of the right to enforce specific performance of this Agreement, provided this Agreement has not terminated and action to enforce specific performance is commenced within six months after such right of action arises. In the event the Buyer defaults in its performance of the terms of this Agreement and Notice of Cancellation is served upon Buyer pursuant to Minn. Stat. Section 559.21, the termination period shall be thirty (30) days as permitted by Minn. Stat., Section 559.2 1, Subd. 4. 15. Notice. Any notice, demand, request or other communication which may or shall be given or served by the parties, shall be deemed to have been given or served on the date the same is personally served upon one of the following indicated recipients for notices or is deposited in the United States Mail, registered or certified, return receipt requested, postage prepaid and addressed as follows: SELLER: ATP Inye,,.., eRt 6 T G ^ •tn:Ronald J. and Lori L. Touchette 7078 EEast Fish Lake Road Maple Grove, MN 55311 BUYER: Housing and Redevelopment Authority of the City of Elk River Attn: Amanda Othoudt 13065 Orono Parkway Elk River, MN 55330 525535v2 SIS ELI 85-48