Laserfiche WebLink
COMMERCIAL PURCHASE AGREEMENT <br /> 271. Page 7 Date 10/06/14 <br /> 272. Property located at 7087 20th Avenue South Centerville <br /> 273. CONDEMNATION: If, prior to the closing date, condemnation proceedings are commenced against all or any part <br /> 274. of the Property, Seller or licensee representing or assisting Seller, shall immediately give written notice to Buyer, or <br /> 275. licensee representing or assisting Buyer,of such fact and Buyer may,at Buyer's option(to be exercised within thirty(30) <br /> 276. days after Seller's notice),declare this Purchase Agreement canceled by written notice to Seller or licensee representing <br /> 277. or assisting Seller, in which case this Purchase Agreement is canceled and neither party shall have further obligations <br /> 278. under this Purchase Agreement. In the event Buyer declares the Purchase Agreement canceled, Buyer and Seller <br /> 279. shall immediately sign a written cancellation confirming such cancellation and directing all earnest money paid <br /> 280. hereunder to be refunded to Buyer. If Buyer fails to give such written notice,then Buyer shall be bound to proceed with <br /> 281. closing, subject to any other contingencies to this Purchase Agreement. In such event, there shall be no reduction in <br /> 282. the purchase price, and Seller shall assign to Buyer at the closing date all of Seller's rights, title and interest in and to <br /> 283. any award made or to be made in the condemnation proceedings. Prior to the closing date, Seller shall not designate <br /> 284. counsel,appear in,or otherwise act with respect to,the condemnation proceedings without Buyer's prior written consent. <br /> 285. MUTUAL INDEMNIFICATION: Seller and Buyer agree to indemnify each other against,and hold each other harmless <br /> 286. from, all liabilities (including reasonable attorneys' fees in defending against claims) arising out of the ownership, <br /> 287. operation or maintenance of the Property for their respective periods of ownership. Such rights to indemnification will <br /> 288. not arise to the extent that (a) the party seeking indemnification actually receives insurance proceeds or other cash <br /> 289. payments directly attributable to the liability in question (net of the cost of collection, including reasonable attorneys' <br /> 290. fees);or(b) the claim for indemnification arises out of the act or neglect of the party seeking indemnification. If, and <br /> 291. to the extent that, the indemnified party has insurance coverage, or the right to make claim against any third party for <br /> 292. any amount to be indemnified against, as set forth above, the indemnified party will, upon full performance by the <br /> 293. indemnifying party of its indemnification obligations, assign such rights to the indemnifying party or, if such rights are <br /> 294. not assignable, the indemnified party will diligently pursue such rights by appropriate legal action or proceeding and <br /> 295. assign the recovery and/or right of recovery to the indemnifying party to the extent of the indemnification payable made <br /> 296. by such party. <br /> 297. ENTIRE AGREEMENT: This Purchase Agreement and any addenda or amendments signed by the parties shall <br /> 298. constitute the entire agreement between Buyer and Seller.Any other written or oral communication between Buyer and <br /> 299. Seller, including, but not limited to, e-mails, text messages, or other electronic communications are not part of this <br /> 300. Purchase Agreement.This Purchase Agreement can be modified or canceled only in writing signed by Buyer and <br /> 301. Seller or by operation of law.All monetary sums are deemed to be United States currency for purposes of this Purchase <br /> 302. Agreement. <br /> 303. ELECTRONIC SIGNATURES:The parties agree the electronic signature of any party on any document related to this <br /> 304. transaction constitute valid, binding signatures. <br /> 305. FINAL ACCEPTANCE: To be binding, this Purchase Agreement must be fully executed by both parties and a copy <br /> 306. must be delivered. <br /> 307. SURVIVAL: All warranties and representations in this Purchase Agreement shall survive the delivery of the deed or <br /> 308. contract for deed and be enforceable after the closing. <br /> 309. OTHER: <br /> 310. <br /> 311. <br /> 312. <br /> 313. <br /> 314. <br /> 315. <br /> 316. <br /> 317. <br /> 318. <br /> MNC:PA-7(8/14) <br /> Jnctarvfa-�,f <br />