Agenda - Council - 02/23/1999 - Laserfiche WebLink

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i I I I i I I I I I I I I I I I I i I 0~×17×99 15:25 L~W OFFICES 2140 4TH AUE ~ 612 42? 5545 N0.46~ _manner as the original litie objections, the closing shall take place within te~ (l 0)busine~ days or on the scheduled dosing date, whichever is late~:. 4.3 If notice is given add SELLER proceeds ia good faith to make title marketable but the 120 day period expires without title being made ma~rketable, BUYER may declare this Agreement void by notice to SE~.I.~.R, neither paw/shall liable for ~tama£es ~re-under to the other, and earnest money s~ll be refunded to BUYER. 4,4 If SELLER does not give notice ofiatenflon xo make fide marketable, oF i.f not;.ce is given but the i20 day I~efiofl expi~s without title being made m~.rketable due to SELLEP.'s fail~axe to In'~:ecl in faith, BrdYER ~.~ay seeic, as permitted by law, one or more of the following: a Proceed to clos/ng with. out waiver ot merger i.~. the deed of the o~ectio~$ to fi~le and withouz waiver of any r~aedies, and may: (i) seeh:damages, costs, ~.~cl ~asonable attorneys' fees from SELLE~ as by law (damages un,et this s~abpaxagraph (i) shall be li~:~ited to the co~'~ curing objections to fl0e, and consequential damages are excluded); or (ii) Un/let'take proceedings to conect the objectio~s to fl0e; b, Rescission of this Puxchase Agreement, ia which case the Purchase Agreement shall be null and void and all earnest money paid hereunder ~ha~l be refunded to BUYER. c. Damages from SELLER togethe~ with costs and reasonable attorneys' fees, as pexraiued by law; d. Specific performance within six months after such right of action arises. 4.5 If title is n~_axketable, or is made marketable as p~ovided as provided herein, and BUYER defaults in any of the agteemems he,in, SELLER may elect either of the following options, as permitied by law: a. Cancel thie conLract as provided by statute and retain all payments made he~eundex as liqui~ted damages;