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terms hereof. I 21.5 Binding Effect.This Agreement is binding upon and inures to the benefit of the parties hereto and their respective heirs,executors, administrators, legal representatives, successors and assigns,subject to the provisions of Section 18, 21,6 Amendments. No amendment to this Agreement will be binding on either of the parties hereto unless such amendment is in writing and is signed by both parties. 21.7 Date For Performance. If the time period by which any right,option or election provided under this Agreement must be exercised,or by which any act required hereunder must be performed,or by which the Closing must be held,expires on a Saturday,Sunday or legal or bank holiday,then such time period will be automatically extended through the close of business on the next regularly scheduled business day. 21.8 Recording.Seller and Buyer will not record this Agreement or a short-form or memorandum of this Agreement without the consent of the other party. 21.9 Countetparts/Facsimile/E-mailed Signatures. This Agreement may be executed in any number of counterparts,each of which will be deemed to be an original,but all of which,when taken together, constitute the same instrument. Seller and Buyer agree that the delivery of an executed copy of this Agreement by facsimile or by attachment to an e-mail shall be binding on the transmitting party and shall have the same force and effect as if an original executed copy of this Agreement had been delivered. 21.10 Time of the Essence. Time is of the essence of this Agreement and each and every term and condition hereof. 2 1,11 Severability. This Agreement is intended to be performed in accordance with,and only to the extent permitted by,all applicable laws,ordinances,rules,and regulations,and is intended,and will for all purposes be deemed to be,a single,integrated document setting forth all of the agreements and understandings of the parties hereto,and superseding all prior negotiations,understandings and agreements of such parties.If any term or provi- sion of this Agreement or the application thereof to any person or circumstance is,for any reason and to any extent, field to be invalid or unenforceable, then such term or provision will be ignored,and to the maximum extent possible, this Agreement will continue in full force and effect,but without giving effect to such term or provision. 22. Default and Remedies, 22.1 Buyer's Default.If Buyer defaults under this Agreement,Seller will have the right to tertninate this Agreement, after written notice of cancellation as provided under Minnesota Statutes Section 559.21. Upon such termination, Seller will retain the Earnest Money as liquidated damages,time being of the essence of this Agreement. Seller and Buyer agree that Seller's economic detriment resulting fiom the removal of the Property from the market and the carrying and other costs incurred thereafter and associated therewith, including any costs to be incurred by Seller in order to satisfy 'the conditions of escrow set forth herein, is impracticable or extremely difficult to ascertain. Seller and Buyer agree that the Earliest Money is a reasonable estimate of such damages in the event of Buyer's failure to perform according to the provisions of this Agreement. Such payment is intended to be liquidated damages and not intended to be a forfeiture or penalty.The tennhlation of this Agreement and retention of the Earnest Money will be the sole remedy available to Seller for default by Buyer, and Buyer will not be liable for damages or specific perfortinance. Seller and Buyer acknowledge and agree that any liability of Buyer to Seller under the indemnity provided for un Section 4.2 hereof will not be limited by this liquidated damages provision. Page 25 of 38