Agenda - Council - 09/25/2007 - Laserfiche WebLink

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19. BROKERS. Each party represents that they are not obligated to any real estate or business broker as a result of this transaction. Each party hereby indemnifies the other for any broker's or agent's fees. 20. MINNESOTA LAW. Tbis Agreement shall be governed by the laws of the State of Minnesota. 21. CONTINGENCY. a. BUYER'S purchase price funds in the amount of $495,000.00 are from a Metropolitan Council RALF loan program. This Agreement is contingent upon BUYER'S receipt, prior to the Closing Date the purchase funds from the Metropolitan Council to fund BUYER'S purchase. In the event said funds are not received by ~UYER by the Closing Date, this Agreement will be null and void and the earnest money paid herein will be refunded to BUYER. b. This Agreement is contingent upon approval of the Ramsey City Council on or before September 25,2007. In the event said approval is not granted by said date this Agreement will be null and void and all earnest money paid hereunder shall be returned to BUYER. 22. MISCELLANEOUS. a. TIME IS OF THE ESSENCE FOR ALL PROVISIONS OF THIS AGREEMENT. 23. ADDITIONAL TERMS. a. If any part of this Agreement or any part or any provision thereof shall be adjudicated to be void or invalid, then the remaining provisions hereof not specifically so adjudicated to be invalid shall be executed without reference to the part or portion so adjudicated, insofar as such remaining provisions are capable of execution. b. The headings of the paragraph and subparagraphs of this Agreement are for convenience and reference only, and do not form a part hereof and in no way interpret or construe such paragraphs and subparagraphs. c. Words of pronoun shall be interchangeable with respect to gender and singular or plural as the context of application requires. If two or more parties are referred to collectively under designation, the liability of each shall be joint and several. 10 -360-