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by SELLER within said ten (10) day period, BUYER shall then have the option to do <br />either of the following: <br /> <br /> a. terminate this Agreement and receive a refund of the Eamest <br />Money, whereupon neither party shall have any rights or obligations to the other <br />under this Agreement and each party shall forthwith execute a written termination <br />of this Agreement; or <br /> <br /> b. waive the survey objections, take title to the Property subject to <br />any such objections and proceed to Closing in accordance with the terms and <br />provisions of this Agreement. <br /> <br /> Should SELLER notify BUYER that SELLER will not cure a noticed objection, <br />BUYER shall then have ten (10) days from the receipt of such notice from SELLER to <br />notify Seller of BUYER'S election to either terminate this Agreement or to waive the <br />objection and proceed to Closing. <br /> <br /> 15. DEFAULT. If either party defaults in the performance of any obligation <br />under this Agreement, the non-defaulting party may, after a five (5) day written notice to <br />the defaulting party, suspend performance of its obligations under this Agreement and the <br />rights of the non-defaulting party are as follows: <br /> <br /> a. BUYER'S Default. If BUYER defaults in the performance of any <br />of the BUYER'S obligations under this Agreement, SELLER shall have the <br />following rights: <br /> <br /> (I) If BUYER defaults in the performance of any of BUYER'S <br />obligations under this Agreement, SELLER'S sole and exclusive right <br />shall be to seek a Cancellation of Purchase Agreement and retain the <br />$5,000.00 Earnest Money as liquidated damages. The termination of this <br />Agreement and retention of the Earnest Money will be the sole remedy <br />available to SELLER for such default by BUYER and BUYER will not be <br />liable for damages or specific performance. <br /> <br /> b. SELLER'S Default. If SELLER defaults in the performance of any <br />of the SELLER'S obligations under this Agreement, BUYER shall have the <br />following rights: <br /> <br /> (1) Except as set forth at (2) below, if SELLER defaults in the <br />performance of any of SELLER'S obligations under this Agreement, <br />BUYER'S sole and exclusive right shall be to seek a Cancellation of <br />Purchase Agreement. <br /> <br /> (2) If SELLER breaches a warranty or representation either <br />before or after Closing, BUYER shall have the right to recover direct <br />damages reasonably related to such breach but not incidental or <br /> <br />8 <br /> 121131046v3 820716 4/20/06 <br /> <br /> <br />