7.4. HRSR 04-06-2020 - Laserfiche WebLink

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and the Closing Date, for any reason including fire, vandalism, flood, earthquake, or act of God, the risk of loss shall be on the Sellers. 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 Sellers agree to sign a cancellation of Agreement. 13. Default/Remedies. If the Buyer defaults in any of the covenants herein, the Sellers may terminate this Agreement, and on such termination all payments made hereunder shall be retained by the Sellers 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 559.2 1, the termination period shall be thirty (30) days as permitted by Minn. Stat., Section 559.21, Subd. 4. 14. 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: Jaime and David Swenson 419 3rd Street NW Elk River, MN 55330 BUYER: Housing and Redevelopment Authority of the City of Elk River Attn: Amanda Othoudt 13065 Orono Parkway Elk River, MN 55330 BUYER'S COUNSEL: Kennedy & Graven, Chartered ATTN: Sarah Sonsalla 470 U.S. Bank Plaza 200 South Sixth Street Minneapolis, MN 55402 15. Relocation Benefits. The Sellers acknowledge that the Sellers initiated negotiations with Buyer for the transaction contemplated by this Purchase Agreement, and that this transaction is not made under threat of condemnation by the Buyer. The Sellers agree to waive any and all relocation benefits, assistance, and services to which the Sellers might otherwise be eligible. The Sellers agree to provide to the Buyer at closing an executed waiver of relocation benefits in substantially the form of the attached Exhibit C. 16. Entire Agreement. This Agreement, exhibits, and other amendments signed by the parties, shall constitute the entire Agreement between the Sellers and the Buyer and supersedes any other written or oral agreements between the parties relating to the Property. This Agreement can