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17. The following remedies shall be available to thi3 respebtive non -defaulting party:
<br />a. In the event of default. hereunder * yi:Purchaser, Seller's remedies shall include, in addition to specific
<br />performance and other remedies,favailebie=•t� law: or in equity, terminating this Contract upon written notice to
<br />Purchaser, in which event Seller ,4ay.retfiin kh`e eerhest money at its option as liquidated damages, and Seller or
<br />Purchaser shall thereafter have *further. claim against or liability to the other and this Contract shall be inoperative
<br />and void, except for the Surviving ovenants.
<br />b. In the event of default hereunder_ by jSeller, Purchaser's remedies shall include, specific performance or the
<br />right to terminate this ,Contract pa on.:wrftten#'ntticq to Seller, in which event Seller expressly agrees to refund to
<br />Purchaser the earnest (Honey de0d4it, anti -Seger or Purchaser shall thereafter have no further claim or liability against
<br />the other and•this Contract shall be inoperative and.vold; except for the Surviving Covenants.
<br />18. All notices required or sent heret4nder.shell be in writing and delivered in person, by messenger or other express
<br />delivery service, or by U.S. Mail Certified,'Retum .f eceipt Requested, to the address of the other party as set forth in the first
<br />paragraph of this Contract, or to such otheraddtessas the parties may from time to time designate. A copy of any notice to
<br />Seller shall also be sent to Larkin Hoffman Paiy _& ljridgreni:Ltd., Attention: Tom Alexander, 7900 Xerxes Avenue South,
<br />Suite 1500, Minneapolis, Minnesota 55431 `Each:bitch]- rloiice (shall be deemed served and effective on the date of delivery or
<br />refusal, if delivered personally, on the dateikf the deliveryreceipt, if delivered by messenger or express service; or the date of
<br />mailing shown on the certified mail receipt, If. delivered 6y certifiiad mail.
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<br />19. Purchaser acknowledges that Seller has made : no representations or warranties to Purchaser regarding (I) the
<br />economic viability, profitability _or busines potential pf. the- Property; (ii) the condition or suitability of any assets sold to
<br />Purchaser for operating Purchaser's businees or for ariy:otheriuse; or (iii) the environmental condition or status (except to the
<br />extent expressly stated herein) of the Property.
<br />20. Upon termination of this Contract, neither Seller nor. Purchaser shall have any further rights or obligations under this
<br />Contract, except for the covenants set 'forth: in. PaE'agraph0 5 and 16 of this Contract, and the remedies provided in
<br />Paragraph 17 of this Contract, all of which ehall', survive termination of this Contract, whether such termination is effected by
<br />Seller or Purchaser (the "Surviving Covenants"): •
<br />21. Subject to the terms and condition of this:Contract, including without limitation the rights of Seller under Paragraph 12
<br />of this Contract and the Right-of_Entry, legal possession of the Property shall be delivered to Purchaser on the date of closing.
<br />22. If any provisions or portions of this Contract, Pr- ,the'application thereof to any. person or circumstance shall, to any
<br />extent, be invalid or unenforceable, the reminder of thIS Contract or the application of such provision, or portion thereof, to any
<br />other persons or circumstances shall be valid and enforbeable to the fullest extent permitted by law.
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<br />23. This Contract shall be deemed to have been'n,ade_ in Anoka.County, Minnesota, and shall be construed in accordance
<br />with the laws of the State of Minnesota. ' All actions br.proc edings relating, directly or indirectly, to this Contract, whether
<br />sounding in contract or tort, shall be litigata`d-only in'ttie�°circult court located in Anoka County, Minnesota. All parties to this
<br />Contract hereby subject themselves to the J irisdiction of the circuit court for Anoka County, Minnesota. .
<br />24. This Contract shall be dated and effective.an4.bindirag as. of the date of. the last execution. Notwithstanding anything
<br />to the contrary contained herein, this Co tract shall< be -nut! and void unless it is executed by the second party and a
<br />fully -executed original is returned to the flrst�party no later; than ten (10) days after the date of execution by the first party.
<br />25, Both parties have contributed to the drafting.of.this. Contract. In the event of a controversy, dispute or contest over the
<br />meaning, interpretation, validity'or enforceability of'thls<.Contrajct or any of its terms or conditions, there shall be no inference,
<br />presumption or conclusion drawn whatsoeier against eitheri party by virtue of that party having drafted this Contract or any
<br />portion thereof.
<br />26. Either party may elect to use the Property as part of ar~ exchange for/with other real estate of a like kind in accordance
<br />with Section 1031 of the, Internal RevenueCode of 1986, as amended, or a reverse exchange in accordance with Revenue
<br />Procedure 2000-37, as amended. To the' e)dent possible,.°the' provisions of this section shall be interpreted consistently with
<br />this intent, To exercise any rights under ttiie Section; the party seeking to consummate the exchange shall provide the other
<br />party with a written statement stating its int1e'nt to: enter into, anexchange at least two (2) business days prior to closing. Such
<br />party's election to exchange the Property fogwith otherjreal estate of a like kind shall be at no cost or liability to the other party
<br />and shall not extend any time periods setTorth herein or.chahge any obligations, and shall include such indemnities as the
<br />other party may reasonably require. In no' event:shall Purchaser be required to take title to any property- other than the
<br />Property.
<br />27, This Contract, Attachments #1 and 02and Expibits Aithrough D annexed hereto contain the entire understanding and
<br />agreement between the parties hereto relat(Ve to the eUbjecf Matter hereof. No representations or statements, other than those
<br />expressly set forth herein, were relied upon;fty the .part es in r tering into this Contract. No modification, waiver of, addition to,
<br />or deletion from the terms of this Contracts ail be.effetltive:urless reduced to writing and signed by Seller and Purchaser, each
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