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consequential damages or punitive damages. SELLER shall have <br />no right to seek rescission of the conveyance. <br />b. SELLER'S Default. If SELLER defaults in the performance of any of the <br />SELLER'S. obligations under this Agreement, BUYER shall have the <br />following rights: <br />(ij Except as set forth at (ii) below, if SELLER defaults in the <br />performance of any "~of SELLER'S obligations under this <br />Agreement, BUYER'S sole and exclusive right shall be to seek a <br />Cancellation of Purchase Agreement. <br />(ii) If SELLER breaches a warranty. or representation either before or <br />after closing, BUYER shall have the right to recover direct <br />damages reasonably related to such breach but not incidental or <br />consequential damages or punitive damages. BUYER shall have <br />no right to seek rescission of the conveyance <br />16. NOTICES. All notices required herein shall be in writing and delivered <br />per~onally_or mailed to the .address as shown_above and, _if mailed, are effective as of the date.Qf.. _ _ __ . _.. __ .__ ___ _. <br />mailing. <br />17. REMOVAL OF CYCLONE FENCE. SELLER shall have the right to remove <br />the cyclone fence from the property. <br />18. BROKERS. Each party represents that they are not obligated to any real estate or <br />business broker as a result of this transaction. Each party hereby indemnifies the other for any <br />broker's or agent's fees. <br />19. MINNESOTA LAW. This Agreement shall be governed by the laws of the State <br />of Minnesota.. <br />20. CONTINGENCY. <br />a. BUYER'S purchase price funds in the amount of $900,000.00 are from a <br />Metropolitan Council RALF loan program. This Agreement is contingent <br />upon BUYER'S receipt, prior to the Closing Date of the purchase funds <br />from the Metropolitan Council to fund BUYER'S purchase. In the event <br />said funds are not received by BUYER by the Closing Date, this <br />Agreement will be null and void and the earnest money paid herein will be <br />refunded to BUYER <br />b. This Agreement is contingent upon approval of the Ramsey City Council <br />on or before May 12, 2009. In the event said approval is not granted by <br />said date this Agreement will be null and void and all earnest money paid <br />hereunder shall be returned to BUYER. <br />_22_ <br />