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attributable to agricultural or special use valuation or any other deferred <br />taxes with respect to all Exchange Parcels, if any, shall be paid by the <br />transferring Party. <br /> <br />(4) <br /> <br />Special Assessments. All assessments that are levied, pending or <br />deferred as of the Closing Date with respect to all Exchange Parcels, if <br />any, shall be paid by the transferring Party. <br /> <br />13. DEFAULT. <br /> <br /> a. Horton's Remedies. If Elk River shall fail to consummate this Contract for any <br />reason except Horton's default or the termination of this Contract pursuant to a right to terminate <br />given herein, Horton may, as its sole and exclusive remedies, either enforce specific performance <br />of this Contract or terminate this Contract. <br /> <br /> b. Elk River's Remedies. If Horton shall fail to consummate this Contract for any <br />reason except Elk River's default or the termination of this Contract pursuant to a right to <br />terminate given herein, Elk River may, as its sole and exclusive remedies, either enforce specific <br />performance of this Contract or terminate this Contract. <br /> <br />14. TERMINATION. <br /> <br /> a. Termination by Notice. Termination of this Contract by Horton or Elk River <br />pursuant to Section 7b(2), 9, 11, 12 or 13 shall be effective upon notice to the other Party and <br />the Title Company. <br /> <br /> b. Automatic Termination. Termination of this Contract automatically upon <br />failure of Horton to give Notice of Suitability pursuant to Section 7.a.(2) shall be effective upon <br />expiration of the ten (10) day period after written notice from the transferring Party. <br /> <br /> c. Effect of Termination. In the event this Contract is terminated pursuant to this <br />Section 14, then upon such termination neither Elk River nor Horton shall have any further <br />rights, liabilities or obligations under this Contract, except that the representations, warranties <br />and covenants and the indemnification provisions in this Contract shall survive termination for a <br />period of one year. <br /> <br />15. COMMISSION. <br /> <br /> a. Brokers. Elk River and Horton each hereby warrant and represent to the other <br />that no brokers, agents, finders fees, commissions, or other similar fees are due or arising in <br />connection with the entering into of this Contract, the sale and purchase of the Exchange Parcels, <br />or the consummation of transactions contemplated herein, and Elk River and Horton each hereby <br />agree to indemnify and hold the other harmless from and against all liability, loss, cost, damage, <br />or expense (including, but not limited to, attorneys' fees and costs of litigation) which the other <br />Party shall suffer or incur because of any claim by a broker, agent, or finder claiming by, <br />through, or under such indemnifying Party, whether or not such claim is meritorious, for any <br />compensation with respect to the entering into of this Contract, the sale and purchase of the <br /> <br />2174122vl 1 1 <br /> <br /> <br />