08-22-2001 Council Agenda - Laserfiche WebLink

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(i) Terminate this Agreement pursuant to Minnesota Statutes, Section 559.21; or (ii) commence an action in a court of competent jurisdiction seeking a judgment terminating this Agreement and awarding damages to Seller. In any such action for damages, Seller may also recover Seller's attorneys' fees and costs. The remedies set forth in this Section 18(a) are Seller's sole and exclusive remedies in the event of Buyer's default. b. Seller's Default. If Seller defaults in the performance of any of Seller's obligations under this Agreement, Buyer may: (i) terminate this Agreement by written notice to Seller; or (ii) initiate a civil action to compel Seller's specific performance of Seller's obligations under this Agreement provided that Buyer commences such action within six (6) months of the date of Seller's default. In any such action for specific performance, Buyer may also recover Buyer's attorney's fees and costs. The remedies set forth in this Section 18(b) is Buyer's sole and exclusive remedy in the —event of Seller's d fault.default except for a default in Seller's obligations under Paragraph 7 and Paragraph 13 of this Agreement 19. Time. Time is of the essence for all provisions of this Agreement. 20. Notices. All notices provided for in this Agreement must be in writing. The 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. If Party delivers a notice provided for in this Agreement in a different manner than described in the preceding sentence, notice is effective as of the date the other party actually receives the notice. 21. Non - Merger. The terms of the Development Agreement are not intended to and do not merge into the terms of this Agreement or into the terms of the Deed Seller delivers to Buyer pursuant to Section 8 of this Agreement. Except as expressly set forth herein, the terms of this Agreement are not intended to and do not merge into the terms of the Deed Seller delivers to Buyer pursuant to Section 8 of this Agreement. 22. Governing Law. This Agreement has been made under the laws of the State of Minnesota and such laws shall control its interpretation. Dated: 1316963v1 SELLER: CITY OF LITTLE CANADA By Page 93