7.1 SR 10-05-2020 - Laserfiche WebLink

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14.1. Buyer's Remedies. If the EDA fails to consummate this Agreement for any reason except the Buyer's default or the termination of this Agreement pursuant to a right to terminate given herein, the Buyer, as its sole and exclusive remedy, terminate this Agreement by giving 30 days' written notice to the EDA, pursuant to Minnesota Statutes Section 559.21, as amended from time to time, in which event the earnest money shall be promptly released to the Buyer and upon such release, neither party shall be further obligated to the other (except for the Buyer's and the EDA's indemnities set forth in this Agreement). The Buyer specifically waives any right to make a claim against the EDA for compensatory or consequential damages or any other type of monetary claim, except for the indemnity obligations set forth in this Agreement. 14.2. EDA's Remedy. If the Buyer fails to consummate this Agreement for any reason except the EDA's default or the termination of this Agreement pursuant to a right to terminate given herein, the EDA's sole and exclusive remedy shall be to terminate this Agreement by giving 30 days' written notice to the Buyer, pursuant to Minnesota Statutes Section 559.21, as amended from time to time, in which case, the earnest money shall be retained by the EDA. 14.3 Indemnification Remedy. Notwithstanding the foregoing provisions of this Section 14, in the event of any default by the Buyer or the EDA under or in connection with any indemnification pursuant to this Agreement, and in the event of any failure by the defaulting party to cure such default within 30 days after the date of notice of default by the non -defaulting party to the defaulting party, the non - defaulting party shall be entitled to seek and recover all legal and equitable relief available under applicable law, including, without limitation, monetary damages. 15. ASSIGNMENT. The Buyer may not assign the Buyer's rights under this Agreement, without prior consent of the EDA. 16. SURVIVAL. All of the terms of this Agreement and warranties and representations herein contained shall survive and be enforceable after the Closing. 17. NOTICES. Any notice required or permitted hereunder shall be given by personal delivery upon an authorized representative of a party hereto; or if mailed by United States mail postage prepaid; or if transmitted by facsimile copy followed by mailed notice; or if deposited cost paid with a nationally recognized, reputable overnight courier, properly addressed as follows: If to the EDA: Elk River Economic Development Authority Attn: Executive Director 13065 Orono Parkway Elk River, MN 55330 If to the Buyer: Shoot Steel, Inc. Attn: Evan Moyer 32428 N Center Lane Center City, M 55012-5501 457530v2 SJS EL185-33