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05/05/16
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05/05/16
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21. CONTROLLING LAW. This Agreement is made under the laws of the State of <br />Minnesota and such laws will control its interpretation. <br />22. REMEDIES. <br />a. If Buyer fails to perform any of the terms or conditions of this Agreement within <br />the specified time limits, Seller may declare this Agreement terminated pursuant <br />to Minnesota Statutes section 559.21. Seller's sole remedy in the event of <br />Buyer's default is retention of the Earnest Money, unless Buyer defaults under <br />Section 7 or 12 of this Agreement, in which case Seller may retain the Earnest <br />money or suspend the performance of its obligations under this Agreement and <br />commence an action in Anoka County District Court to recover its actual damages <br />arising from the default. <br />b. If Seller fails to perform any of the terms or conditions of this Agreement within <br />the specified time limits, Buyer may, as its sole remedy, declare this Agreement <br />terminated in which case Escrow Agent and, if applicable, Seller, shall refund the <br />Earnest Money (both the Initial Disbursement and the Remaining Earnest Money) <br />to Buyer, or, in the alternative, Buyer may have this Agreement specifically <br />enforced. Buyer waives all claims for consequential damages against Seller based <br />on Seller's breach or alleged default hereunder. <br />23. WAIVER. Failure of Seller or Buyer to insist upon the performance of any of the <br />covenants, agreements and/or conditions of this Agreement or to exercise any right or <br />privilege herein shall not be deemed a waiver of any such covenant, condition or right. <br />24. SURVIVAL OF TERMS AND CONDITIONS. The terms and conditions of this <br />Agreement shall survive and be in full force and effect after the delivery of the deed, and <br />shall not be deemed to have merged therein. <br />25. SEVERABILITY. Each provision of this Agreement shall apply to the extent permitted <br />by applicable law and is intended to be severable. If any provision is illegal or invalid for <br />any reason whatsoever, such illegality or invalidity shall not affect the legality or validity <br />of the remainder of the Agreement. <br />26. CONSTRUCTION. The Parties acknowledge that this Agreement was initially <br />prepared by Seller solely as a convenience and that all Parties and their counsel hereto <br />have read and full negotiated all the language used in this Agreement. The Parties <br />acknowledge that because all Parties and their counsel participated in negotiating and <br />drafting this Agreement, no rule of construction shall apply to this Agreement to construe <br />ambiguous or unclear language in favor of or against any Party. <br />27. COUNTERPARTS; DIGITAL COPIES. This Agreement may be executed in any <br />number of counterparts and the signature pages of the separate counterparts combined <br />into a single copy of this Agreement which will then constitute a fully executed version <br />Coastal PA, v05032016, G>EDA>Accounts>Coastal Living Land and Homes 9 <br />
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