2. HRSR 04-14-2020 - 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 Seller.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 Seller agrees to sign a cancellation of Agreement. 13.Default/Remedies.If the Buyerdefaults in any of the covenants herein,theSeller may terminate this Agreement, and on such termination all payments made hereunder shall be retained bytheSelleras 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 eventtheBuyerdefaults in its performance of the terms of this Agreement and Notice of Cancellation is served upontheBuyerpursuant to Minn. Stat. Section 559.21, 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 thesame 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:Cora Smith Trust Attn:Tim Smith, Secretary/Treasurer 406 Main 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’SKennedy & Graven, Chartered COUNSEL:ATTN: Sarah Sonsalla 470 U.S. Bank Plaza 200 South Sixth Street Minneapolis, MN 55402 15.Relocation Benefits. The SelleracknowledgesthattheSellerinitiated negotiations with the Buyer for the transaction contemplated by this Purchase Agreement, and that this transaction is not made under threat of condemnation bytheBuyer. The Seller agreesto waive any and all relocation benefits, assistance and services to whichtheSellermight otherwise be eligible. The Selleragreesto provide totheBuyer 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 Seller and the Buyer and supersedes any 8