Laserfiche WebLink
7. Default. <br />(a) Default by Seller. In the event that Seller should fail to consummate the <br />transactions contemplated herein for any reason, except for a default by <br />Buyer, Buyer may: <br />(i) Terminate this Agreement, in which event the earnest money shall <br />forthwith be returned to Buyer; or <br />(ii) Enforce the specific performance of this Agreement and, in such <br />action, shall have the right to recover damages suffered by Buyer <br />by reason of the delay in the acquisition of the property provided <br />that such action is commenced within six (6) months of the date <br />of this Agreement; or <br />(iii) Bring suit for damages for breach of this Agreement. <br />No delay or omission in the exercise of any right or remedy accruing to <br />Buyer upon any breach by Seller under this Agreement shall impair such <br />right or remedy or be construed as a waiver of any such breach <br />theretofore or thereafter occurring. The waiver by Buyer of any <br />condition or of any subsequent breach of the same or any other term, <br />covenant, or condition herein contained shall not be deemed to be a <br />waiver of any other condition or of any subsequent breach of the same <br />or any other term, covenant, or condition herein contained. All right, <br />powers, options or remedies afforded to Buyer either hereunder or by <br />iaw shall be cumulative and not alternative, and the exercise of one right, <br />power, option or remedy shall not bar other rights, powers, options or <br />remedies allowed herein or by law. <br />(b) Default by Buyer. In the event that Buyer should fail to consummate the <br />transactions contemplated herein for any reason, except for a default by <br />Seller, Seller may: <br />(i) Enforce the specific performance of this Agreement and, in such <br />action, shall have the right to recover damages suffered by Seller <br />by reason of the delay in the sale of the Property; or <br />(ii) Bring suit for damages for breach of this Agreement; or <br />(iii) Cancel this Purchase Agreement and retain the earnest money. <br />No delay or omission in the exercise of any right or remedy accruing to <br />Seller upon any breach by Buyer under this Agreement shall impair such <br />right or remedy or be construed as a waiver of any such breach <br />theretofore or thereafter occurring. The waiver by Seller of any <br />-4- <br />