07-23-2003 Council Agenda - Laserfiche WebLink

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e. If the Non - Terminating Party does not dispute the Terminating Party's right to terminate this Agreement, Buyer must execute and deliver to Seller a recordable quit claim deed evidencing the termination of this Agreement. £ If the Non- Terminating Party disputes the Terminating Party's right to terminate this Agreement, either Party may initiate a civil action in a court of competent jurisdiction to determine the status of the Agreement, and the Party that prevails in any such action is entitled to recover the costs and attorney's fees the Party incurs in the action from the non prevailing Party. g. If Buyer terminates this Agreement pursuant to Section 14(b) or Section 16(b) or if Seller terminates this Agreement pursuant to Section 14(a), the Development Agreement automatically terminates with respect to the Property only. If Seller terminates this Agreement pursuant to Section 16(a) and Minn. Stat. Section 559.21, the Development Agreement automatically tot minates with respect to the Property only. 18. Time. Time is of the essence for all provisions of this Agreement. 19. Notices. All notices provided for in this Agreement must be in writing. A notice is effective as of the date two days after the Party sending such notice deposits the notice with the United States Postal Service, with all necessary postage paid, for delivery to the other Party via certified mail, return receipt requested, at the address set forth in Section 1 above or as of the date one day after the Party sending such notice deposits the notice with a same day courier service or overnight delivery service, with all necessary fees paid, for overnight delivery to the other Party at the address set forth in Section 1 above. If a Party delivers a notice provided for in this Agreement in a different manner than described in the preceding sentence, the notice is effective as of the date the other Party actually receives the notice. The Party sending the notice shall also fax or mail a copy of the notice to the Seller's attorney and Buyer's attorney at the addresses set forth below: Attorney for Seller: Attorney for Buyer Briggs and Morgan, P.A. 2200 First National Bank Building 332 Minnesota Street St. Paul, MN 55101 Fax No. 651-223-6450 Attn: Thomas L. Bray Faegre & Benson LLP 2200 Wells Fargo Center Minneapolis, MN 55402 Fax N. 612 -766 -7080 Attn: Peter J. Berrie 20. Full Agreement. The Parties acknowledge that this Agreement and the Development Agreement represent the full and complete agreement of the Parties relating to the purchase and sale of the Property and all matters related to the purchase and sale of the Property. 1455685v2 9