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10 <br />and Buyer's Closing Documents; such documents have been duly authorized by all <br />necessary action; such documents are valid and binding obligations of Buyer, and are <br />enforceable in accordance with their terms. <br /> <br />14. Damage. If, prior to the Closing Date, any part of the Property located at 167 South <br />Owasso is <br />substantially damaged by fire, casualty, the elements or any other cause, Seller shall <br />immediately give notice to Buyer of such fact and at Buyer's option (to be exercised within 30 <br />days after Seller's notice). This Agreement shall terminate, in which event neither party will <br />have any further obligations under this Agreement and the earnest Money, together with any <br />accrued interest, shall be refunded to Buyer. If Buyer fails to elect to terminate despite such <br />damages, or if the Property is damaged but not substantially, Seller shall promptly <br />commence to repair such damage or destruction and return the property to its condition prior <br />to such damage. If such damage shall be completely repaired prior to the Closing Date then <br />there shall be no reduction in the Purchase Price and Seller shall retain the proceeds of all <br />insurance related to such damage. If such damage shall not be completely repaired prior to <br />the Closing Date but seller is diligently proceeding to repair, then Seller shall complete the <br />repair after the Closing Date and shall be entitled to receive the proceeds of all insurance <br />related to such damage after repair is completed, provided, however, Buyer shall have the <br />right to delay the Closing Date until repair is completed. If Seller shall fail to diligently <br />proceed to repair such damage then Buyer shall have the right to require a closing to occur <br />and the Purchase Price (and specifically the cash portion payable at the Closing Date) shall <br />be reduced by the cost of such repair, or at Buyer's option, the Seller shall assign to Buyer all <br />right to receive the proceeds of all insurance related to such damage and the Purchase Price <br />shall remain the same. For purposes of this section, the words "substantially damaged" mean <br />damage that would cost $100,000.00 or more to repair. <br /> <br />15. Condemnation. If, prior to the Closing Date, eminent domain proceedings are <br />commenced against all or any part of the Property, Seller shall immediately give notice to <br />Buyer of such fact and at Buyer's option (to be exercised within 30 days after the date of <br />Seller's notice), this Agreement shall terminate, in which event neither party will have further <br />obligations under this Agreement and the Earnest Money, together with any accrued interest, <br />shall be refunded to Buyer. If Buyer shall fail to give such notice then there shall be no <br />reduction in the Purchase Price, and Seller shall assign to Buyer at the Closing Date all of <br />Seller's right, title and interest in and to any award made or to be made in the condemnation <br />proceedings. Prior to the Closing date, Seller shall not designate counsel, appear in, or <br />otherwise act with respect to the condemnation proceedings without Buyer's prior written <br />consent. <br /> <br />16. Broker's Commission. If the transaction contemplated by this Agreement is <br />consummated in the time and manner required by this Agreement, Seller agrees to pay a <br />sales commission of Ten Percent (10%) of the gross sale price. The Seller is being <br />represented by Bruce Bahneman of Avison and Young and the Buyer is being represented <br />by Jeff Nordness of Essence Real Estate Services, Inc. Said commission shall be paid from <br />closing proceeds and divided equally between Avison and Young and Essence Real Estate <br />Services, Inc. Seller and Buyer represent and warrant to each other that they have dealt with <br />no other brokers, other than or the like in connection with this transaction, and agree to <br />indemnify each other and to hold each other harmless against all claims, damages, costs or <br />expenses of or for any other such fees or commissions resulting from their actions or <br />agreements regarding the execution or performance of this Agreement, and will pay all costs <br />of defending any action or lawsuit brought to recover any such fees or commissions incurred <br />by the other party, including reasonable attorneys' fees. <br /> <br />17. Mutual Indemnification. Seller and Buyer agree to indemnify each other against,