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A. If the Buyer is the defaulting party the Seller may, as its sole remedy, terminate this Agreement in accordance with Minnesota Statutes §559.21, whereupon the Earnest Money shall be delivered to Seller as liquidated damages. B. If the Seller is the defaulting party, the Buyer may (i) terminate this Agreement whereupon the Earnest money shall be returned to Buyer, or (ii) seek specific performance of this"Agreement, but Buyer agrees it will not site the Seller for damages. Notwithstanding anything to the contrary contained herein, the parties acknowledge and agree that any liability of the parties to the other under the covenants, representations, warranties and indemnification contained in Sections 7, 8, 10 and 14 shall not be limited or affected by the foregoing provisions of this Section. 14. Physical 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 and examining the Property. Buyer shall pay all costs and expenses of such surveying, placing of boundary monumentation, inspecting, investigating and testing, and Buyer will. subject to the provisions and limitations of Minn. Stat. Chapter 466, indemnify, defend, and hold Seller harmless from all claims, liens, costs, expenses, and attorneys' fee related to such actions by Buyer. 15. Conditions to Closing. The Buyer's 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. B. The Seller shall have performed and satisfied each of the Seller's obligations under this Agreement. C. The Buyer is able to obtain an Owner's Policy of Title Insurance issued by the Title 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. D. There has been no change in the physical condition of the Property between the date the Buyer signs this Agreement and Closing. In the event any of the foregoing conditions are not satisfied on the Closing Date, Buyer will have no obligation to proceed to Closing and, unless Buyer delivers written notice to Seller that Buyer has waived any unsatisfied condition and will proceed to Closing, this Agreement, upon notice from Buyer to Seller will cease and terminate, and the Earnest Money will be returned and paid to Buyer. 8