07-09-2014 Additions - Laserfiche WebLink

Home Browse Search

18. Remedies. If Buyer defaults under this Agreement, Seller shall have the right and option to terminate this Agreement by giving written notice to Buyer. If Buyer fails to cure such default within thirty (30) days of the date of such notice, this Agreement will terminate, and upon such termination Seller will retain the Earnest Money and accrued interest thereon as liquidated damages and not as a penalty, time being of the essence of this Agreement. The termination of this Agreement and retention of the Earnest Money will be the sole remedy available to Seller for such default by Buyer, and Buyer shall not be liable for damages or specific performance. If Seller defaults under this Agreement, this provision does not preclude Buyer from seeking and recovering from Seller damages for nonperformance and/or specific performance of this Agreement provided Buyer serves Seller notice of such default and commences legal action within six months of Seller's breach. if Buyer fails to serve notice on Seller of such default within six months of Seller's breach this provision shall become null and void., 19. Third Party Beneficiary. There are no third party beneficiaries of this Agreement, intended or otherwise. 20. No Joint Venture or Partnership. Seller and Buyer, by entering into this Agreement and completing the transactions described herein, shall not be considered joint venturers or partners. 21. Time Periods. If the time for performance of any obligations under this Agreement expires on a day that is not a business day, the time for performance shall be extended to the next business day. 22. Attorneys' Fees. If either Seller or Buyer files any action or brings any proceeding against the other arising out of this Agreement, or is made a party to any action or proceeding brought by a third party arising out of this Agreement without fault of the defending party, then as between Seller and Buyer, the prevailing party in any such action or proceeding shall be entitled to recover, as an element of its costs of suit and not as damages, reasonable attorneys' fees to be fixed by the Court. The "prevailing party" shall be the party who is entitled to recover its costs of suit, whether or not the suit proceeds to final judgment. A party not entitled to recover its costs shall not recover attorneys' fees. No sum for attorneys' fees shall be counted in calculating the amount of a judgment for purposes of determining whether a party is entitled to attorneys' fees. 23. Counterparts. For the convenience of the parties, any number of counterparts of this Agreement may be executed and each such executed counterpart shall be deemed an original, but all such counterparts together shall constitute one and the same agreement. Seller and Buyer have executed this Agreement effective as of the latest date opposite their signatures below. Dated: , 2014 SELLER City of Little Canada 12 Davis Real Estate/City of Little Canada