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17. ' The following remedies shall be available to the respective non-defaulting party:
<br /> a. In the event of default.hereunder~l~YiPurC~haser Seller's remedies shall include, in addition to specific
<br /> this upon written notice to
<br /> performance and other remedies~iavai!abie :~tJ law: br in eqUity, terminating Contract
<br /> Purchaser, in which e</ent Selle~ SaY ref~in ~'e a~rhest money at its option as liquidated damages, and Seller or
<br /> Purchaser shall thereafter have neffurther claim against or liability to the other, and this Contract shall be inoperative
<br /> and void, except for the Surviving ¢ovenants~
<br />
<br /> b. In the event of default hereunder by Belier,. Purchaser's remedies shall include, specific performance or the
<br /> right to terminate this,Contract Upon Wrjttenin°tice ~o Seller, in which event Seller expressly agrees to refund to
<br /> Purchaser the earnest money deP0~it, and Seller? 0r P.iJrchaser shall thereafter have no further claim or lability aga nst
<br /> the other and this Contract shall be inoperative and void, except for the Surviving Covenants.
<br />
<br /> 18. All notices required or sent hereunder shell be in wdfing and delivered in person, by messenger or other express
<br /> delivery service, or by U.S. Mail Certified,~etum 'Receipt Re, qL~ested, to the address of the other party as set forth in the first
<br /> paragraph of this Contract, or tO such other!addreSS a~ the parties may from time to time designate. A copy of any notice to
<br /> Seller shall also be sent to LarkJn Hoffrna8 Da!Y A ~l.jndgren!.Ltd., Attention: Tom Alexander, 7900 Xerxes Avenue South,
<br /> Suite 1500, Minneapolis, MinneSota 55431; ;Eachsuctl qotice :shall be deemed served and effective on the date of delivery or
<br /> refusal, if delivered personally On the date!~f the d~liv~rY receipt, if delivered by messenger or express service; or the date of
<br /> mailing shown on the certified mail receipt~ Ifldelivered by certlflrre, d ~ail. .
<br />
<br /> 19. Purchaser acknowledges that Seller has m~ade:n0i representations or warranties to Purchaser regarding (i)the
<br /> economic viability, profitability or busines~i potential 0fr the'.-Property; (ii)the condition or suitability of any aSsets sold· to
<br /> Purchaser for operating Purcha.seds busin~l~s or for artyother;use; or (iii) the environmental Condition or status (except to the
<br /> extent expressly stated herein) Of the Propei'~y.
<br />
<br /> 20. Upon termination of this Contract,lneither seller nor Purchaser shall have any further dghts or Obligations under this
<br /> Contract, except for the covenants set ¢0rtJ1 in Paiagraph~ 5 and 16 of this Contract, and the remedies provided in
<br /> Paragraph 17 of this Contract, all of which;~hall' surviv, e.termihation of this Contract, whether such termination is effected by
<br /> Se~ler or Purchaser (the "Surviving Covenants");
<br />
<br />21. Subject to the terms and conditions:of thiS,contract including without limitation the rights of Seller under Paragraph 12
<br />of this Contract and the R~ght-of-Entry, legal possess~ort o.'f the Property shall be dehvered to Purchaser on the date of closing.
<br />
<br />22. If any provisions or portions of thls contract, lor' the ,application thereof to any person or circumstance shall, to any
<br />extent, be invalid or unenforceable, the remainder of thJJs COntract or the application of such provision, or portion thereof, to any
<br />other persons or circumstances shall be vaild and enforceable to the fullest extent permitted by law.
<br />
<br />23. This Contract shall be deemed to have been n~adein Anoka.County, Minnesota, and shall be construed in accordance
<br />with the laws of the State of Minnesota. ~ AI_-I actiOns ~r p!oCCedings relating, directly or indirectly, to this Contract, whether'
<br />sounding in contract or tort, shall be litigat{~l only in the:'cirdult court located in Anoka County, Minnesota. All parties to this
<br />Contract hereby subject themselves to the jOHsdiCtion of the' cirCUit court for Anoka County, Minnesota.
<br />
<br />24. This Contract shall be dated and effective and .binding as of the date of the last execution. Notwithstanding anything
<br />to the contrary contained herein, this CO~tract shall~ be null and Void unless it is executed by the second party and a
<br />fully-executed odginat is returned to the firSt'party n° lafer than, i[en (10) days after the date of execution by the first party.
<br />
<br />25. Both parties have contributed to the drafting of this Co.nb-act..In the event of a controversy, dispute or contest over the
<br />meaning, interpretation, validib/.or enforceability of thl~ ContrarCt or any of its terms or conditions, there shall be no inference,
<br />presumption or conclusion drawn whatsoei/er against !either!Party by virtue of that party having drafted this Contract or any
<br />portion thereof.
<br />
<br />26. Either party may elect to use the Pi'operty aS Part of an exchange for/with other real estate of a like kind in accordance
<br />with Section 1031 of the Internal RevenuelCOde of 1~86, as amended, or a reverse exchange in accordance with Revenue
<br />Procedure 2000-37, as amended. To the: ~:Xtent poSs!ble, the, provisions of this section shall be interpreted consistently with
<br />this intent. To exercise any rights under this SeCtion; ~e party seeking to consummate the exchange shall provide the other
<br />party with a written statement stating its integer to enter~int° amexchange at least two (2) business days prior to closing. Such
<br />party's election to exchange the Property fOrr/W th: otherireal eS_bate of a like kind shall be at no cost or liability to the other party
<br />and shall not extend any time periods set,forth here!~ 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 />
<br />27. This Contract, Att..achmf~nt~ #1 an~ ~2, and ~xhibits. A;througl~ D annexed hereto contain the entire understanding and
<br />agreement between the parties hereto relat~.,e to the Sdbject rn~tter hereof. No representations or statements, other than those
<br />expressly set forth herein, were relied upon,.by the pa~e~i:in' enitering into this Contract. No modification, waiver of, addition to,
<br />or deletion from the terms of this Contract s~ll be effe(jtNe ~ur~less reduced to wdting and signed.by Seller and Purchaser, each
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