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02/09/23
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02/09/23
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(d) If the transaction contemplated hereby fails to close due to a default by Buyer, the <br />Earnest Money (and the Additional Deposit, if applicable) shall be paid to Seller as <br />liquidated damages hereunder (and not as a penalty) as Seller's sole and exclusive <br />remedy, it being understood that Seller's actual damages in the event of such default <br />are difficult to ascertain and that the Earnest Money (and the Additional Deposit, if <br />applicable) represent the parties' best current estimate of the amount of such <br />damages, and both parties shall be fully released from all further liability and <br />obligations hereunder; <br />(e) If the transaction contemplated hereby fails to close due to the default of Seller, <br />the Earnest Money (and the Additional Deposit, if applicable) shall be returned to <br />Buyer, and Buyer may terminate this Agreement, without prejudice, however, to all <br />rights and remedies which Buyer may have against Seller, at law or in equity; <br />The provisions of this Section 3.04 shall survive the termination of this Agreement. <br />3.05 ECR. With respect to the easements to be obtained by Buyer pursuant to Section <br />3.02(f) above, Buyer and Seller (and any lender who holds a mortgage or other security interest <br />on Seller's Residual) shall agree in writing on the terms and conditions of an easement and <br />restriction agreement (the "ECR") between the Property and Seller's Residual, the form of which <br />shall be prepared by Buyer, providing for, inter alia, <br />(a) A perpetual, non-exclusive easement from Seller, for the benefit of the Property, <br />over and across the driveways and walkways on Seller's Residual (including but <br />not limited to the "Critical Access Drives" depicted on the Site Plan, which <br />Seller shall not alter, relocate, or close without the prior written consent of <br />Buyer),for the purpose of vehicular (including Buyer's delivery tractor trailers) and <br />pedestrian ingress, egress and access between and among the Property, Seller's <br />Residual and the public roads; <br />(b) A perpetual, non-exclusive easement from Buyer, for the benefit of Seller's <br />Residual, over and across the driveways and walkways that are situated on the <br />Property, for the purpose of vehicular and pedestrian ingress, egress and access <br />between and among the Property, Seller's Residual and the public roads; <br />(c) If and to the extent necessary, perpetual, non-exclusive easements over and <br />across Seller's Residual for the benefit of the Property for the purposes of <br />installing, using, maintaining, repairing and replacing service lines, connections <br />and related improvements to provide utility services to the Property; <br />(d) Intentionally deleted; <br />(e) A perpetual, non-exclusive easement over and across Seller's Residual for the <br />benefit of the Property for the purpose of maintaining the visibility of Buyer's <br />building and signage on the Property, whereby the portion of Seller's Residual, <br />generally depicted on the Site Plan, as the "No -Build Area" shall be restricted <br />4 <br />B: <br />S: <br />
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