4.7. SR 07-01-2019 - Laserfiche WebLink

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Page 7 of 11 ____________ ____________ ____________ ____________ Initials Initials Initials Initials Agreement null and void by notice to Seller, neither party shall be liable for damages hereunder to the other, and earnest money shall be refunded to Buyer. C. If Seller does not give notice of intention to make title marketable, or if notice is given but the 120- day period expires without title being made marketable due to Seller’s failure to proceed in good faith, Buyer may seek, as permitted by law, any one or more of the following: 1. Proceed to closing without waiver or merger in the deed of the objections to title and without waiver of any remedies, and may: (a) Seek damages, costs, and reasonable attorney’s fees from Seller as permitted by law (damages under this subparagraph (a) shall be limited to the cost of curing objections to title, and consequential damages are excluded); or, (b) Undertake proceedings to correct the objections to title; 2. Rescission of this Purchase Agreement by notice as provided herein, in which case the Purchase Agreement shall be null and void and all earn est money paid hereunder shall be refunded to Buyer; 3. Damages from Seller including costs and reasonable attorney’s fees, as permitted by law; 4. Specific performance within six months after such right of action arises. D. If title is marketable, or is made marketable as provided herein, and Buyer defaults in any of the agreements herein, Seller may elect either of the following options, as permitted by law: 1. Cancel this contract as provided by statute and retain all payments made hereunder as liquidated damages. The parties acknowledge their intention that any note given pursuant to this contract is a down payment note, and may be presented for payment notwithstanding cancellation; 2. Seek specific performance within six months after such right of action arises, including costs and reasonable attorney’s fees, as permitted by law. E. If title is marketable, or is made marketable as provided herein, and Seller defaults in any of the agreements herein, Buyer may, as permitted by law: 1. Seek damages from Seller including costs and reasonable attorney’s fees; 2. Seek specific performance within six months after such right of action arises. TIME IS OF THE ESSENCE FOR ALL PROVISIONS OF THIS CONTRACT. 19. NOTICES. All notices required herein shall be in writing and delivered personally or mailed to the address as shown on Exhibit 2 to this Agreement and if mailed, are effective as of the date of mailing. 20. AGENCY DISCLOSURE. (Name of selling agent or selling broke r) ____N/A_______________ DISCLOSES HE OR SHE IS REPRESENTING THE (BUYER OR SELLER) IN THIS TRANSACTION. THE LISTING AGENT OR BROKER DISCLOSES THAT HE OR SHE IS REPRESENTING THE SELLER IN THIS TRANSACTION.