Laserfiche WebLink
Seller may terminate this Agreement pursuant to Minnesota <br />Statutes, Section 559.21 <br />ii Seller and the City may commence an action in a court of <br />competent jurisdiction seeking a judgment terminating this <br />Agreement and awarding damages to Seller. In any such action for <br />damages, Seller's and the City's damages shall be limited to the <br />recovery of amounts spent by Seller and the City in the planning, <br />consideration, negotiation and documentation of this transaction <br />and in the exercise of Seller's rights and the performance of Seller's <br />obligations under this Agreement. In any such action, Seller may <br />also recover Seller's reasonable attorneys' fees and costs; or <br />iii initiate a civil action to compel Buyer's specific performance of <br />Buyer's obligations under this Agreement provided that Seller <br />commences the action within three (3) months of the date of <br />Buyer's default. In any such action for specific performance, <br />Seller may also recover Seller's attorneys fees and costs. <br />The remedies set forth in this Section 17(a) are Seller's and the City's sole and exclusive <br />remedies in the event of Buyer's default or a misrepresentation by Buyer. <br />b. Seller's Default. If Seller defaults in the performance of any of Seller's <br />obligations under this Agreement, Buyer may: <br />terminate this Agreement pursuant to Section 18, below, <br />ii commence an action in a court of competent jurisdiction seeking a <br />judgment terminating this Agreement and awarding damages to <br />Buyer. In any such action for damages, Buyer's damages shall be <br />limited to the recovery of amounts spent by Buyer in the planning, <br />consideration, negotiation and documentation of this transaction <br />and in the exercise of Buyer's rights and the performance of <br />Seller's obligations under this Agreement. In any such action, <br />Buyer may also recover Buyer's reasonable attorneys' fees and <br />costs;; or <br />iii initiate a civil action to compel Seller's and the City's specific <br />performance of their Obligations under this Agreement provided <br />that Buyer commences such action within three (3) months of the <br />date of the default. In any such action for specific performance, <br />Buyer may also recover Buyer's attorneys fees and costs. <br />The remedies set forth in this Section 17(b) are Buyer's sole and exclusive remedies in the event <br />of Seller's. <br />18. Termination of this Agreement. Sections 10, 12, 14, 16 and 17(b)(allow Buyer <br />to terminate this Agreement under certain conditions. Sections 15 and 16 of this Agreement <br />-13- <br />2707737v5 <br />11/18/10 <br />