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(k) material misrepresentation by the Purchaser.
<br />In the event the Seller elects to terminate this Agreement as a result of (a), (b), (c), (d), (e), (f), (i) or (j) above, the
<br />Seller shall return the Purchaser's earnest money deposit.
<br />19. Remedies for Default:
<br />(a) In the event of the Purchaser's default, material breach or material misrepresentation of any fact under the
<br />terms of this Agreement, the Seller, at its option, may retain the earnest money deposit and any other funds
<br />then paid by the Purchaser as liquidated damages and /or invoke any other remedy available to Seller at law
<br />and /or equity and the Seller is automatically released from the obligation to sell the Property to the Purchaser
<br />and neither the Seller nor its representatives, agents, attorneys, successors, or assigns shall be liable to the
<br />Purchaser for any damages of any kind as a result of the Seller's failure to sell and convey the Property.
<br />(b) In the event of the Seller's default or material breach under the terms of the Agreement or if the Seller
<br />terminates the Agreement as provided under the provisions of Paragraph 18 (a), (b), (c), (d), (e), (f), (i) or (j)
<br />of this Addendum, the Purchaser shall be entitled to the return of the earnest money deposit as Purchaser's
<br />sole and exclusive remedy at law and /or equity. The Purchaser waives any rights to file and maintain an
<br />action against the Seller for specific performance and the Purchaser acknowledges that a return of its earnest
<br />money deposit can adequately and fairly compensate the Purchaser. Upon return of the earnest money deposit
<br />to the Purchaser, this Agreement shall be terminated, and the Purchaser and the Seller shall have no further
<br />liability or obligation, each to the other in connection with this Agreement.
<br />(c) The Purchaser agrees that the Seller shall not be liable to the Purchaser for any special, consequential or
<br />punitive damages whatsoever, whether in contract, tort (including negligence and strict liability) or any other
<br />legal or equitable principle, including but not limited to any cost or expense incurred by the Purchaser in
<br />selling or surrendering a lease on a prior residence, obtaining other living accommodations, moving, storage
<br />or relocation expenses or any other such expense or cost arising from or related to this Agreement or a
<br />breach of this Agreement.
<br />(d) Any consent by any party to, or waiver of, a breach by the other, whether express or implied, shall not
<br />constitute consent to, waiver of, or excuse for any different or subsequent breach.
<br />(e) In the event either party elects to exercise its remedies as described in this Section 19 of this Addendum and
<br />this Agreement is terminated, the parties shall have no further obligation under this Agreement except as to
<br />any provision that survives the termination of this Agreement pursuant to Section 24 of this Addendum.
<br />20. Indemnification: The Purchaser agrees to indemnify and fully protect, defend, and hold the Seller, its officers,
<br />directors, employees, shareholders, servicers, representatives, agents, attorneys, tenants, brokers, successors or
<br />assigns harmless from and against any and all claims, costs, liens, loss, damages, attorney's fees and expenses of
<br />every kind and nature that may be sustained by or made against the Seller, its officers, directors, employees,
<br />shareholders, servicers, representatives, agents, attorneys, tenants, brokers, successors or assigns, resulting from or
<br />arising out of:
<br />(a) inspections or repairs made by the Purchaser or its agents, employees, contractors, successors or assigns;
<br />(b) claims, liabilities, fines or penalties resulting from the Purchaser's failure to timely obtain any Certificate of
<br />Occupancy or to comply with equivalent laws and regulations;
<br />claims for amounts due and owed by the Seller for taxes, homeowner association dues or assessment or any
<br />other items prorated under Section 10 of this Addendum, including any penalty or interest and other charges,
<br />arising from the proration of such amounts for which the Purchaser received a credit at closing under Section
<br />10 of this Addendum; and
<br />(d) the Purchaser's or the Purchaser's tenants, agents or representatives use and /or occupancy of the Property prior
<br />to closing and /or issuance of required certificates of occupancy.
<br />21. Risk of Loss: In the event of fire, destruction or other casualty loss to the Property after the Seller's acceptance of
<br />this Agreement and prior to closing, the Seller may, at its sole discretion, repair or restore the Property, or the Seller
<br />may terminate the Agreement. If the Seller elects to repair or restore the Property, then the Seller may, at its
<br />(c)
<br />PURCHASER (Initials)
<br />SELLER (Initials)
<br />NPDC FORM 001 Letter 11 -30 -2009
<br />REO# CIOO1iF4
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