Agenda - Council - 02/22/2005 - Laserfiche WebLink

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Notices shall be deemed effective on the earlier of the date of receipt or the date of deposit, as aforesaid; provided, however, that if notice is given by deposit, the time for response to any notice by the other party shall commence to run one business day after any such deposit. Any party may change:its address for the service of notice by giving notice of such change 10 days prior to the effective date of such change. l 5. Captions. The paragraph headings or captions appearing in this Agreement are for convenience only, are no~ a part of this Agreement and are not to be considered in interpreting this Agreement., 16. Entire Agreement; ModifiCation. This written Agreement constitutes the complete agreement between the Parties a~d supersedes any prior oral or written agreements between the parties regarding thegrantingiofan Option with respect to the Property. There are no oral agreements that change this Agreement and no waiver of any of its terms will be effective unless in a writing exeeuted by the parties. 17. Binding Effect~ ThiS Agreement binds and benefits the parties and their successors and assigns. 18. Controlling Law. This Agreement has been made under the laws of the State of Minnesota, and such laws will control its interpretation. 19. Remedies.: If, after exercise of this Option, Buyer defaults under this Agreement, Seller shall have the right to terminate this Agreement by giving written notice to Buyer. If Buyer fails to cure such default within 15 days of the date of such notice, this Agreement will terminate, time being ofthe essence of this Agreement. In addition to the foregoing, Seller and BUyer shall retain all remedies available at law and in equity. Seller and Buyer have execUted this Agreement as of the date first written above. CITY OF RAMSEY, a Minnesota municipal corporation By: Name: Thomas G. Gamec Its: Mayor By: Name: James E. Norman Its: City Administrator