Agenda - Council - 10/09/2001 - Laserfiche WebLink

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Anoka, MN 55303 Telephone: (763) 421-5424 Telecopier: (763) 421-4213 20. INTERPRETATION This Agreement shall be governed by the laws of the state in which the Property is located. The paragraph headings are inserted for convenience only and are in no way intended to interpret, define or limit the scope or content of this Agreement or any provision hereof. If any party is made up of more than one person or entity, then all such persons and entities shall be included jointly and severally, even though the defined term for such party is used in the singular in this Agreement. If any right of approval or consent by a party is provided for in this Agreement, the party shall exercise the right promptly, in good faith and reasonably, unless this Agreement expressly gives such party the right to use its ~sole discretion. The term "Business Day" shall mean Monday through Friday excluding holidays recognized by the state government of the State in which the Property is located. If any time period under this Agreement ends on a day other than a Business Day, then the time period shall be extended until the next Business Day. If a time period under this Agreement is five (5) days or less, it shall mean five (5) Business Days. Facsimile signatures shall be deemed original signatures. 21. SURVIVAL AND TERMINATION The provisions of this Agreement shall not survive Closing unless and to the extent expressly provided otherwise. The provisions of this Agreement concerning disbursement of the Earnest Money Deposit, brokerage commissions, Purchaser's entering upon the Property and any other expressly so indicated shall survive termination. "Terminate" or "Termination" shall mean the termination of this Agreement pursuant to a right to do so provided herein. Upon Termination, the Earnest Money Deposit shall be disbursed as provided herein, and the parties shall have no further rights or duties under this Agreement except as expressly provided herein. 22. ASSIGNMENT This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns. The rights of Purchaser under this Agreement may not be assigned to any person or entity that is not related to or under the direct financial management of the Purchaser without the express written consent of Seller, which consent may be withheld by Seller at its sole discretion. Any such assignment shall be in writing, and the assignee shall assume and agree to observe and perform all of the obligations and duties of Purchasers under this Agreement; provided, however, that Purchaser shall remain fully and primarily liable hereunder. Any request for assignment shall include the assignee's address, true and complete copies (certified as such by Purchaser and 9 -139-