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04/05/11 Work Session
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04/05/11 Work Session
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7/18/2025 10:59:29 AM
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4/1/2011 12:43:18 PM
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Meetings
Meeting Document Type
Agenda
Document Title
Housing & Redevelopment Authority - Work Session
Document Date
04/05/2011
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must also mail a copy of the notice of termination to the Parties respective attorneys as <br />provided for in Section 22 below. <br />d. If the Non - Terminating Party disputes the Terminating Party's right to <br />terminate this Agreement, the Non - Terminating Party must so notify the Terminating <br />Party, in writing, within five (5) business days of the Non - Terminating Party's receipt of <br />the Terminating Party's notice of termination. <br />e. If the Non - Terminating Party does not dispute the Terminating Party's <br />right to terminate the Agreement, Buyer must execute and delivery to Seller a recordable <br />quit claim deed conveying the Property to Seller, and on the receipt of such a quit claim <br />deed, Seller and Buyer must instruct Title to return the Earnest Money to the Party that is <br />or the Parties that are entitled to the Earnest Money under the terms of this Agreement. <br />f. If the Parties dispute the validity of an attempted termination of this <br />Agreement, either Party may initiate a civil action in a court of competent jurisdiction to <br />determine the status of this Agreement, and the Party that prevails in any such action is <br />entitled to recover the costs and reasonable attorneys' fees which such Party incurs in the <br />action from the non - prevailing Party. <br />20. Survival. The representations, covenants, agreements and indemnities set forth in <br />this Agreement will remain operative and will survive Closing and the execution and delivery of <br />the deed and will not be merged therein. <br />21. Assignment. The terms and conditions hereof inure to the benefit of and are <br />binding on the successors and assigns of both parties hereto. Buyer may not assign Buyer's <br />rights or obligations under this Agreement to any third party without Seller's consent which <br />consent Seller may grant or withhold in Seller's sole and absolute discretion. Notwithstanding <br />the foregoing, Buyer may assign Buyer's rights and obligations under this Agreement to a limited <br />liability company or other entity that Buyer controls or that Buyer's members control upon notice <br />to but without the consent of Seller. Such an assignment will not relieve Buyer from liability <br />pursuant to Section 18(a)(ii) for a prior or subsequent default in the performance of the Buyer's <br />obligations referenced in that Section. . <br />22. Notice. Any notice to be given or served upon any party hereto in connection <br />with this Agreement must be in writing, and delivered to the other parties (i) in person; (ii) by <br />facsimile transmission (with confirmation of transmission available upon request from the non - <br />sending party); (iii) by a nationally recognized overnight delivery service; or (iv) by certified <br />mail, return receipt requested. If notice is given in person or via facsimile transmission, notice is <br />deemed to have been given when personal delivery was received by the party or when the <br />facsimile transmission was transmitted. If notice is given by a nationally recognized overnight <br />delivery service, notice is deemed to have been given the day following delivery to the delivery <br />service of such notice. If notice is given by certified mail, notice is deemed to have been given <br />three (3) days after a certified letter containing such notice, properly addressed with postage <br />prepaid, is deposited in the United States mail. Notices should be sent to the parties at the <br />following addresses: <br />2650680v4 <br />09/13/10 <br />-16- <br />
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