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ffd�� M City of Roseville Roseville City Hall 2660 Civic Center Drive V .L,% ^S,!7&vll 1 .V %.. Ifle, NINT 5.5 11 11 3 Attn: William J. Malinen, City Manager Notices shall be! deemed to have been given, delivered or received (as those terms are used 'in thf-W, 41 Agreement) on the date of receipt if delivered personally, upon the date of delivery if delivered Iy courier, or one it after deposit in the U.S. Mail, if mailed. Any party may change its address for the service of notice by giving written notice of such change to the other party, in th manner above specified, 10 days prior to the effective date of such change. 13. Defaults and Remedies. In the event of a default on the part of either party under this Agreement which continues for three (3) business days after recelpt of written notice from th�,Vl *ther party, the following shall apply., A. If the Buyer 'is the defaulting party the Seller may, as its sole remedy, terminate thi Agreement 'in accordance with Minnesota Statutes § 5 5 9.2 1, whereupon the Earnes Money shall be delivered to Seller as liquidated damages. i rwo. If the Seller is the defaulting party, the Buyer may as its sole remedies either: (i) ten--ninate this Agreement whereupon the Earnest money shall be returned to Buyer, or (ii) seek specific performance provided that such action shall be commenced within three months after such right of action shall arise. 114. Phy,s,i,c,al,,,,,,,,Inspection. Following the signing of this Agreement, the Seller shall allow Buyer access to the Property Without charge for the purpose of Buyer's surveying, placing boundary monumentation upon, and testing the Property. Buyer shall pay all costs and expenses of such surveying, placing of boundary monumentation, inspecting, 9 - investigating and testing. 15. Conditions to Closiqg. The Buyerls obligation to close on this Purchase Agreement is subject to the following conditions precedent-, A. The representations and warranties of the Seller contained in this Agreement are true and correct as of the date the Seller signs this Agreement and at the time of closing. igations B. The Seller shall have performed and satisfied each of the Seller's obl under this Agreement. The Buyer is able to obtain an Owner's Policy of Title Insurance issued by the Titk Company 'in the full amount of the Purchase Price, subject only to the Permitted Encumbrances, covering title to the Property, showing Buyer as owner of the Property and providing for full coverage over all standard title exceptions. rA