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organizational documents or any judgment, order or decree of any court or arbiter <br />to which Buyer is a party <br />12.4. Upon execution, the Buyer's Closing Documents will be valid and binding <br />obligations of Buyer, and are enforceable in accordance with their terms, subject <br />to applicable bankruptcy, insolvency, reorganization, moratorium, creditor's rights <br />and other similar laws. <br />12.5. No consents or approvals from any third parties are required for Buyer to perform <br />its obligations under this Agreement. <br />12.6. Buyer has not engaged the services of any broker in connection with the sale and <br />purchase contemplated by this Agreement. Buyer is purchasing the Property for an <br />investment with the intent of making a profit. <br />13. Casualty; Condemnation. If all or any part of the Property is substantially damaged by <br />fire, casualty, the elements, or any other cause, Seller immediately shall give written <br />notice to Buyer, and Buyer shall have the right to terminate this Agreement by giving <br />written notice within thirty (30) days after Buyer receives written notice from Seller of the <br />same. If Buyer shall fail to give notice of termination, then the parties shall proceed to <br />Closing and Seller shall assign to Buyer all rights to insurance proceeds resulting from <br />such event. If eminent domain proceedings are threatened or commenced against all or <br />any part of the Property, Seller immediately shall give written notice to Buyer, and Buyer <br />shall have the right to terminate this Agreement by giving written notice within thirty (30) <br />days after Buyer receives written notice from Seller of the same. If Buyer shall fail to give <br />notice of termination, then the parties shall proceed to Closing and Seller shall assign to <br />Buyer all rights to appear in and receive any award from such proceedings. <br />14. Remedies. <br />14.1. If Buyer defaults in its obligation to proceed to the Closing in accordance with the <br />terms of this Agreement and fails to cure such default within ten (10) days after <br />being notified in writing thereof, Seller shall be entitled, as its sole and exclusive <br />remedy, to terminate this Agreement and to retain the Earnest Money as liquidated <br />damages. The parties agree that in the event of default by Buyer, subject to the <br />expiration of the cure period above, Seller's damages will be difficult or <br />impractical to ascertain and the Earnest Money will be deemed to constitute a <br />reasonable estimate of Seller's damages and shall not be deemed to constitute a <br />forfeiture or penalty. Seller shall not have the right to recover any other damages <br />of any kind from Buyer or to obtain other equitable adjustment to the terms of the <br />sale of the Property. <br />14.2. If Seller defaults on any of its material obligations under this Agreement and fails <br />to cure such default within ten (10) days after receiving written notice thereof, <br />Buyer shall be entitled to exercise any remedies available to Buyer at law or <br />equity for a default by Seller hereunder including, without limitation, (i) the <br />9 <br />