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b. Waiving any defects in title and proceeding to close the transaction <br />contemplated by this Agreement. <br />If the title to the Property is marketable or is made marketable by the Closing Date, and <br />BUYER defaults in any of the agreements on its part to be performed under this Agreement and <br />continues in default for a period of five (5) days after written notice thereof is given to BUYER <br />by SELLER, then SELLER shall have the remedies described below or under Minnesota law. <br />15. DEFAULT. If either party, defaults in the performance of any obligation under <br />this Agreement, the non - defaulting party may, after a five (5) day written notice to the defaulting <br />party, suspend performance of its obligations under this Agreement and the rights of the non- <br />defaulting party are as follows: <br />a. BUYER'S Default. If BUYER defaults in the performance of any of the <br />BUYER'S obligations under this Agreement, SELTZER shall have the <br />following rights: <br />(i) Except as set forth at (i�) below, 'if BUYER defaults in the <br />performance of any of BUYER'S obligations under this <br />Agreement ,SELLER'S sole and. exclusive rights shall be to retain <br />the Earnest Money as liquidd*i i -- damages and to seek a <br />Cancellation of 1'ui$ase Agreement.` <br />(ii) If BUYER breaches a warranty or either before or <br />ftex closing, SELLER shall_ have the right to recover direct <br />damages reasonably, related to such breach but not incidental or <br />consequential damages or punitive damages. SELLER shall have <br />no right to seek rescission of the conveyance. <br />bi - S SELL` S, Default: '"If :SELLER defaults in the performance of any of <br />the LE � <br />S EL'. obligations under this Agreement, BUYER shall have the <br />following rights: <br />(i) - 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 rights shall be to receive <br />a return of the Earnest Money and to seek a Cancellation of <br />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 />W <br />