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which contingencies shall be satisfied, or waived at the option of Buyer, on or before the Date of Closing. If said contingencies are not so satisfied or waived on or before the Date of Closing, all earnest money paid hereunder by Buyer to Seller shall be retained by Seller as its sole property in consideration of the execution and delivery hereof, and thereafter neither party shall have any liability to the other hereunder, except for the Indemnifications. 9. Buyer agrees to hold harmless and indemnify the Seller from and against any and all damages, claims, liens (including mechanic's lien) suits, causes of action and all other liabilities and obligations arising out of Buyer's (or its agent's, employees' or contractor's) activities on the Property or from its activities relative to the satisfaction or attempted satisfaction of any contingency herein described. / ')-f day ,�D 10. L/Seller shall have until 4 : 00 O'clock p. m. on -y, g9, ''P j. Kej October -3-, 1985 to execute and return this Purchase Agreement and the required earnest money; in the event Seller fails to do so, the offer to purchase herein contained shall be automatically null and void. 11. All notices permitted or required to be made herein shall be given at the following addresses: Seller: 1850 University Avenue Saint Paul, Minnesota 55104 Buyer: 1611 West Larpenteur Falcon Heights, Minnesota 55113 12. Buyer has executed and delivered herewith a quit claim deed covering the Property to be held by Seller, which will be deemed to have been delivered to Seller in the event this Purchase Agreement is not performed because of the failure of Buyer to sat- isfy, or waive at its option, the contingencies herein described. 13. Buyer's rights under this Purchase Agreement are not assignable without Seller's prior written consent, except that on the Date of Closing Buyer may assign the rights hereunder to a partnership to be formed by Buyer, provided that said assignee shall simultaneously perform all of Buyer's obligations hereunder. 14. Seller hereby grants to Buyer the right to enter upon the Property at reasonable times during the period hereof for the purpose of inspection, engineering studies, surveying, soil borings and limited excavation for the purposes of determining whether the Property is a suitable site for building. In the conduct of such activities, Buyer shall be conducting the same not on behalf of Seller, and Buyer shall be solely responsible for all 2