2000-02-23 Packet - Laserfiche WebLink

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Copy: James Hoeft Barra, Ouzy, & Steffen, LTD 200 Coon Rapids Boulevard Minneapolis, MN 55433 -5894 Notices shall be deemed effective on the earlier of the date of receipt cr the date of deposit as aforesaid; provided, however, that if notice is given by deposit, tat the time for response to any notice by the other party shall commence to run one business day after any such deposit. Any party may change its address for the service of notice by giving written notice of such change to the other party in any manner above specified, 10 days prior to the effective date of such change. 18. Captions. The paragraph headings or captions appearing in this Agreement are for convenience only, ere not a part of this Agreement and are not to be considered in interpreting this Agreement. 19. Entire Agreement: Modification. This written Agreement constitutes the complete agreement between the parties and supersedes any prior oral or written agreements between the parties regarding the property. There are no verbal agreements that change this Agreement and no waiver of any of its terms will be effective unless in writing executed by the parries. 20. Binding Effeej. This Agreement binds and benefits the parties and their successors and assigns, 21. CQ11inz Law. This Agreement has been made under the laws of the State of Minnesota, and such laws will control its interpretation. 22. sa If Buyer defaults under this Agreement, Seller shall have the right to terminate this Agreement by giving written notice to Buyer. If Buyer fails to cure such default within 15 days of the date of such notice, this Agreement will terminate, and upon such termination Seller will retain the Earnest Money as liquidated damages, time being of the essence of this Agreement. The termination of the Agreement and retention of the Earnest Money will be the sole remedy available to Seller for such default by Buyer, and Buyer will not be liable for damages or specific performance. If Seller defaults under this Agreement, this y provision does not preclude Buyer from seeking and recovering from Seller [damages for nonperformance or] specific performance of this Agreement. [Buyer shall have no right to seek damages from Seller for Seller's defaults hereunder]. (If Seller defaults under this Agreement, Buyer shall have no right to seek damages from Seller for Buyer's loss of its bargain in failing to acquire the property, but Buyer shall recover as damages from Seller all of Buyer's out- of-pocket costs and fees including without limitation attorneys' fees, accountants' fees and other consultant's fees incurred by Buyer in preparing and negotiating this Agreement, preparing for 13