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$15,000 as the amount of Seller's liquidated damages due to the difficulty and uncertainty <br />of determining Seller's actual damages. Notwithstanding the foregoing, if one or more of <br />the representations of Buyer in Section 12 is inaccurate, when made, or if Buyer defaults <br />in the performance of Buyer's obligations under Section 13, the liquidated damage <br />agreement above shall not apply, and Seller may commence an action against Buyer in <br />Sherburne County District Court to recover Seller's actual damages. If Seller prevails in <br />any such action, Seller is entitled to recover from Buyer Seller's reasonable attorneys fees <br />and costs. The remedies set forth in this Section 18(a) are Seller's sole and exclusive <br />remedies in the event of Buyer's default. <br />b. Seller's Default. If Seller defaults in the performance of any of Seller's <br />obligations under this Agreement, Buyer may: <br />(i) terminate this Agreement pursuant to Section 19 below; or <br />(ii) initiate an action in Sherburne County District Court to compel <br />Seller's specific performance of Seller's obligations under this Agreement <br />provided that Buyer commences such action within six (6) months of the date of <br />Seller's default. If Buyer prevails in any such action for specific performance, <br />Buyer may also recover Buyer's reasonable attorneys fees and costs; or <br />(iii) If any one or more of the representations set forth in Section 11 are <br />inaccurate, when made, Buyer may commence an action for damages against <br />Seller in Sherburne County District Court, and if Buyer prevails in such action, <br />Buyer may also recover from Seller Buyer's reasonable attorneys fees and costs. <br />The remedies set forth in this Section 18(b) are Buyer's sole and exclusive remedies in <br />the event of Seller's default. <br />19. Termination of this Agreement. Sections 10, 14, 16 and 18(b)(i) of this <br />Agreement allow Buyer to terminate this Agreement under certain conditions. Section 15 allows <br />Seller to terminate this Agreement under certain conditions. The following procedures govern <br />the exercise of those termination rights. Section 18(a) allows Seller to terminate this Agreement <br />under certain conditions, but a termination pursuant to Section 18(a) is governed solely by <br />Minnesota Statutes Section 559.21 and not by this Section 19. <br />a. The party that desires to terminate this Agreement (the "Terminating <br />Party") must notify the other party (the "Non-Terminating Party"), in writing, of the <br />Terminating Party's intent to terminate this Agreement. <br />b. The Terminating Party's notice must recite the Section of this Agreement <br />that authorizes the Terminating Party's termination of this Agreement and must describe <br />the facts and circumstances which the Terminating Party asserts justify termination under <br />the referenced Section. <br />c. The Terminating Party's notice of termination is effective as of the date <br />the Terminating Party deposits the notice of termination with the United States Postal <br />Service, with all necessary postage paid, for delivery to the Non-Terminating Party via <br />2150570v4 9 <br />