Agenda - Council - 09/09/1997 - Laserfiche WebLink

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0~/0~×~? 1~:0~ LAW OFFICES ~140 ~TH Dated: September 6" 1997 Page 5 of Pages settle any such claim without the consent of the other (which consent shall not be unreasonably withheld, conditioned or delayed), unless such settlement requires no admission of liability on the part of the other and no assumption of any obligation or monetary payment for which BUYER has not been fully indemnified. SELLER will indemnify BUYER, its successors and assigns, against, and will hold BUYER, its successors and assigns, harmless from, any expenses or damages, including reasonable attorneys' fees, that BUYER incurs because of the breach of any of the above representations and warranties, whether such breach is discovered before or after closing. Each of the representations and warranties herein contained shall survive the Closing. Wherever herein a representation is made "to the best knowledge of SELLER", such representations is limited to the actual knowledge of SELLER. Except as herein expressly stated, BUYER is purchasing the Property based upon its own investigation and inquiry and is not relying on any representation of SELLER or other person and is agreeing to accept and purchase the Property "as is, where is." subject to the conditions of examination herein set forth and the express warranties herein contained. Consummation of this Agreement by BUYER with knowledge of any such breach by SELLER will not constitute a waiver or release by BUYER of any claims due to such breach. 14. DEFAULT: If title is marketable or is corrected as provided herein, and BUYER defaults in any of the agreements herein, SELLER may terminate this Purchase Agreement and payments made hereunder may be retained by SELLER. This provision shall not deprive either BUYER or SELLER of the right to recover damages for a breach of this Agreement or of the right of specific performance of this Agreement, provided this Purchase Agreement is not terminated, and further provided, as to specific performance, such action is commenced within sir months after such right of ~ction arises. 15. TIME OF ESSENCE: Agreement. Time is of the essence in this Purchase 16. ENTIP. E AGREEMENT: This Purchase Agreement, any attached exhibits and any addenda or amendments signed by the parties, shall constitute the entire Agreement between SELLER and BUYER, and supersedes any other written or oral agreements between SELLER and BUYER. This Purchase Agreement 'can be modified only in writing signed by SELLER and BUYER. 17. POSSESSION: SELLER shall deliver possession of the Property pending possession by BUYER on or before May 15, 1998, the date of possession. The SELLER agrees to pay rent for the Property at a rate of $1,000.00 per month. The parties hereto agree at closing that they will enter into a written lease agreement for the Property using standard lease terms.