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11 419290v2 LN140 -109 (a) First, to reimburse the EDA for all costs and expenses incurred by the EDA, including but not limited to salaries of personnel, in connection with the recapture, management, and resale of the Property or part thereof (but less any income derived by the EDA from the property or part thereof in connection with such management); all taxes, assessments, and water and sewer charges with respect to the Property (or, in the event th e Property is exempt from taxation or assessment or such charge during the period of ownership thereof by the EDA, an amount, if paid, equal to such taxes, assessments, or charges (as determined by the EDA assessing official) as would have been payable if the Property were not so exempt); any payments made or necessary to be made to discharge any encumbrances or liens existing on the Property or part thereof at the time of revesting of title thereto in the EDA or to discharge or prevent from attaching or be ing made any subsequent encum brances or liens due to obligations, defaults or acts of the Developer, its successors or transferees; any expenditures made or obligations incurred with respect to the making or completion of the Minimum Improvements or any p art thereof on the Property; and any amounts otherwise owing the EDA by the Developer and its successor or transferee; and (b) Any balance remaining after such reimbursements up to the amount of the Purchase Price shall be returned to the Developer. 1 5 .5. No Remedy Exclusive . No remedy herein conferred upon or reserved to the any party in this Agreement is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient. In order to entitle the EDA to exercise any remedy reserved to it, it shall not be necessary to give notice, other than such notice as may be required in this Section. 1 5 .6. No Additional Waiver Implied by One Waiver . In the event any agreement contained in this Agreement should be breached by any party and thereafter waived by another party, such waiver shall be limited to the p articular breach so waived and shall not be deemed to waive any other concurrent, previous or subsequent breach hereunder. 1 6 .0. Miscellaneous . The following general provisions govern this Agreement. 1 6 .1. Time is of the Essence . The Date of Clos ing is of the absolute essence. In the event this transaction does not close on the Date of Closing because the EDA is unable to perform as required by this Agreement, the Agreement shall be null and void and the Purchase Price deposited by Developer unde r Section 3.0 shall be immediately refunded to Developer. In the event this transaction does not close on the Date of Closing because the Developer is unable to perform as required by this Agreement, this Agreement shall be null and void and all Earnest M oney shall be delivered to the EDA as liquidated damages.