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16. JOINT VENTURE. Seller and Buyer,by entering into this Agreement and completing <br /> the transactions described herein, shall not be considered joint venturers or partners, <br /> 17. CAPTIONS. The paragraph headings or captions appearing in this Agreement are for <br /> convenience only,are not a part of this Agreement, and are not to be considered in <br /> interpreting this Agreement. <br /> 18. ENTIRE AGREEMENT/MODIFICATION. This written Agreement constitutes the <br /> complete agreement between the parties and supersedes any prior oral or written <br /> agreements between the parties regarding the Property. There are no verbal agreements <br /> that change this Agreement and no waiver or modification of any of its terms will be <br /> effective unless in writing executed by the parties. <br /> 19. BINDING EFFECT. This Agreement binds and benefits the Parties and their <br /> successors and assigns. <br /> 20. CONTROLLING LAW. This Agreement is made under the laws of the State of <br /> Minnesota and such laws will control its interpretation. <br /> 21.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 10 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 declare this Agreement terminated in which <br /> case Escrow Agent and, if applicable, Seller, shall refund the Earnest Money to <br /> Buyer, or, in the alternative, Buyer may have this Agreement specifically <br /> enforced. <br /> 22.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 /> 23. 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 /> Page 8of11 <br />