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Agenda - Council - 01/10/2006
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Agenda - Council - 01/10/2006
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3/19/2025 2:55:37 PM
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1/6/2006 3:35:49 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Date
01/10/2006
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DRAFT <br /> <br />(ii) <br /> <br />If BUYER breaches a warranty or representation either before or after <br />closing, SELLER shall have the right to recover direct damages <br />reasonably related to such breach but not incidental or consequential <br />damages or punitive damages. SELLER shall have no right to seek <br />rescission of the conveyance. <br /> <br />SELLER'S Default. If SELLER defaults in the pertbrmance of any of the <br />SELLER'S obligations under this Agreement, BUYER shall have the <br />following fights: <br /> <br />(i) <br /> <br />Except as set forth at (ii) below, if SELLER defaults in the <br />performance of any of SELLER'S obligations under this Agreement, <br />BUYER'S sole and exclusive fight shall be to seek a Cancellation of <br />Purchase Agreement. <br /> <br />(ii) <br /> <br />If SELLER breaches a warranty or representation either before or <br />after closing, BUYER shall have the right to recover direct damages <br />reasonably related to such breach but not incidental or consequential <br />damages or punitive damages. BUYER shall have no right to seek <br />rescission of the conveyance. <br /> <br /> 17. NOTICES. All notices required herein shall be in writing and delivered personally <br />or mailed to the address as shown above and, if mailed, are effective as of the date of mailing. <br /> <br /> 18. REMOVAL OF DEBRIS. BUYER agrees to remove ALL DEBRIS and all <br />personal property not included herein from the Property by the Closing Date. <br /> <br /> 19. BROKERS. Each party represents that they are not obligated to any real estate or <br />business broker as a result of this transaction. Each party hereby indemnifies the other for any <br />broker's or agent's fees. <br /> <br /> 20. <br />Minnesota. <br /> <br />MINNESOTA LAW. This Agreement shall be governed by the laws of the State of <br /> <br />21. MISCELLANEOUS. <br /> <br />TIME IS OF THE ESSENCE FOR ALL PROVISIONS OF THIS <br />AGREEMENT. <br /> <br />22. ADDITIONAL TER31S. <br /> <br />If any part of this agreement or any part or any provision thereof shall be <br />adjudicated to be void or invalid, then the remaining provisions hereof not <br />specifically so adjudicated to be invalid shall be executed without reference <br />to the part or portion so adjudicated, insofar as such remaining provisions are <br />capable of execution. <br /> <br /> 8 <br />-240- <br /> <br /> <br />
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