12-20-2006 Council Agenda - Laserfiche WebLink

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(c) Undertake proceedings to correct the objections to title; (2) Rescission of this Purchase Agreement by notice as provided herein, in which case the Purchase Agreement shall be void and all earnest money paid hereunder shall be refunded to Buyer; (3) Damages from Sellers together with costs and reasonable attorneys' fees, as permitted by law; (4) Specific performance within six months after such right of action arises. c. If title is marketable, or is made marketable as provided herein, and Sellers default in any of the agreements herein, Buyer may, as permitted by law: (1) Seek damages from Sellers including costs and reasonable attorneys' fees; and /or (2) Seek specific performance within six months after such right of action arises. TIME IS OF THE ESSENCE FOR ALL PROVISIONS OF THIS AGREEMENT. 15. Notice. Any notice required or permitted by this Purchase Agreement or the purchase money mortgage shall be considered to have been given and received if personally delivered to the parties or their agents personally or deposited in the United States mail postage prepaid by certified or registered mail addressed to the parties at the following addresses: Seller: Purchaser: Mr. Walter Wegleitner 431 Belmont Lane East Maplewood, MN 55117 City of Little Canada Attn: City Administrator 515 Little Canada Road East Little Canada, MN 55117 16. Indemnification. Sellers agree to indemnify and hold Buyer, its successors and assigns, harmless of and from any and all liabilities, claims, causes of action, penalties, demands and expenses of any kind or nature whatsoever (except those items which by this Agreement specifically become the obligation of Buyer) arising out of, resulting from, relating to, or incident to the property up to and including the date of closing or which are in any way related to the ownership, maintenance or operation of the property, and all expenses related thereof, including, without limitation, court costs and attorney's fees, except to the extent cause by an act or omission of Buyer, its agents, employees or contractors. Buyer agrees to indemnify and hold Sellers, its successors and assigns, harmless of and from any and all liabilities, claims, causes of action, penalties, demands and expenses of any kind or nature whatsoever (except those items which by this Agreement specifically become the obligation of the Sellers) arising out of activities of Buyer on property from the date of execution of this Agreement to the date of closing. 17. Minnesota Law. This contract shall be governed by the laws of the State of Minnesota. -4- 5