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SECTION 18 - REMEDIES 18.01 In the event Buyer fails to comply with any or all of the obligations, covenants, warranties or agreements to be performed, honored or observed by Buyer under and pursuant to the terms and provisions oftrus Agreement and such default is not cured within thirty (30) days after written notice (other than Buyer's failure to tender the Purchase Price on the date of Closing, a default for which no notice is required), then Seller may (i) terminate this Agreement or (ii) seek an action for specific performance against Buyer to enforce the provisions of this Agreement. 18.02 The failure of either party to act upon a default of the other in any of the terms, conditions or obligations under this Agreement shall not be deemed a waiver of any subsequent breach or default under the terms, conditions or obligations hereof by such defaulting party. 18.03 In the event Seller fails to comply with any or all of the obligations, covenants, warranties or agreements to be performed, honored or observed by Seller under and pursuant to the terms and provisions oftrus Agreement, and such default is not cured within thirty (30) days after written notice, Buyer may either (i) terminate this Agreement or (ii) seek an action for specific performance against Seller to enforce the provisions of this Agreement. SECTION 19 ~ MISCELLANEOUS 19.01 This Agreement shall be binding upon and inure to the benefit of and bind the parties hereto, their respective heirs, executors administrators, personal and/or legal representatives, successors and assigns. 19.02 All covenants, warranties, representations and agreements of Seller and Buyer contained in this Agreement or in any document executed by either party pursuant to this Agreement shall survive the execution and delivery of the Property Deed. 19.03 This Agreement constitutes the entire agreement between the parties and there are no representations, oral or written, relating to the Property or to this transaction which have not been incorporated herein. Any agreement hereafter made shall be ineffective to change, modify or discharge this Agreement in whole or in part unless such agreement is in writing and signed by the party against whom enforcement of any change, modification or discharge is sought. 19.04 The headings of Sections hereof have been inserted for convenience only and shall in no way modifY or restrict any provisions hereof or be used to construe any such provisions. 19.05 If two or more persons constitute the Sellers, "Seller" shall be construed as if it reads "Sellers" throughout this Agreement. 19.06 If two or more persons constitute the Buyers, "Buyer" shall be construed as ifit reads Buyers" throughout this Agreement. C:\Documents and Settings\TBenderILocal Settings\Temporary Internet Files\OLK3DlJ>urchase and Sale of vacant lot_ 07-22-04.doc 8