Agenda - Economic Development Authority - 02/05/2015

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relative to receipt, escrow, investment and disbursement of the Earnest Money. Failure of Escrow Agent to execute this Agreement shall not affect the validity of this Agreement as between Seller and Buyer. 30. TIME FOR ACCEPTANCE. The Agreement, when duly executed by all of the parties hereto, shall be binding upon the parties hereto, their heirs, representatives, successors and assigns. In the event this Agreement has not been duly executed by Seller and delivered to Buyer or its agent on or before February II' JanuaFy-24 2015 at 5:00 p.m. Central Formatted: Superscript standard time, then the offer herein made by Buyer shall automatically and unconditionally terminate and this Agreement shall be null and void, and Escrow Agent shall immediately return to Buyer the Earnest Money. 31. MISCELLANEOUS. The following general provisions govern the Agreement: A. No Waivers The waiver by either party hereto of any condition or the breach of any term, covenant or condition herein contained shall not be deemed to be a waiver of any other condition or of any subsequent breach of the same or of any other term, covenant or condition herein contained. >?uye i n i s o l e di e tio ; �l.,,tl 1., ho ...,,.70 J R,,.,o,- g g S . ,-:4 .�., 444i0o s .,:4:.,.,11., deser-ibif+g the fig-14 vffiived. B. Time of Essence Time is of the essence of this Agreement. C. Governing Law This Agreement is made and executed under and in all respects to be governed and construed by the laws of the State of Minnesota and the parties hereto hereby agree and consent and submit themselves to any court of competent jurisdiction situated in the State of Minnesota. D. Notices All notices and demands given or required to be given by any party hereto to any other party shall be deemed to have been properly given if and when delivered in person, the next business day after being sent by reputable overnight commercial courier (e.g. U_P.S. or Federal Express), sent by facsimile (with verification of receipt) or three (3) business days after having been deposited in any U.S. Postal Service and sent by registered or certified mail, postage prepaid, addressed as follows (or sent to such other address as any party shall specify to the other party pursuant to the provisions of this Section): TO SELLER: TO BUYER: City Administrator Derek West City of Ramsey 24 Restore 7550 Sunwood Drive N.W. 6615 141 Ave. N.W. Ramsey, MN 55303 Ramsey, MN 55303 In the event either party delivers a notice by facsimile, as set forth above, such party agrees to deposit the originals of the notice in a post office, branch post office, or mail depository maintained by the U.S. Postal Service, postage prepaid and addressed as set forth above. Such deposit in the U-S. Mail shall not affect Page 12 of 16