07/23/2007 Council Packet (2) - Laserfiche WebLink

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• • (j) Purchaser shall pay any trunk sewer and water charges, if any, payable in respect to the Land in connection with Purchaser's development of the Subject Property or otherwise. 13. Remedies. In the event Seller shall default in the performance of any of its obligations hereunder prior to Closing and continues in default for a period of ten (10) days after written notice of such default from Purchaser to Seller, Purchaser shall have the right to terminate this Agreement, in which event Seller shall return to Purchaser the entire Earnest Money Deposit and all payments theretofore made to or for the benefit of Seller. Notwithstanding anything contained in this Agreement to the contrary, such right and remedy of Purchaser shall not deprive Purchaser of the right of commencing legal proceedings for damages. Such damages for pre - closing breach of this Agreement shall not exceed the sum of (a) the amount of the Earnest Money Deposit and (b) all costs of "due diligence" and development expenses incurred by Purchaser in connection with its Proposed Facility, which sum shall in no event exceed $60,000.00. Purchaser shall also have the option of enforcing specific performance of this Agreement, provided this Agreement has not been terminated as aforesaid and provided action to enforce such specific performance is commenced within six (6) months after any such right of action arises. In the event Purchaser shall default in the performance of any of its obligations under this Agreement prior to Closing, Seller shall have the right (after written notice of default from Seller and failure of Purchaser to cure the default or commence to cure the default within thirty (30) days after such notice) to terminate this Agreement, in which event Seller shall be entitled to the Earnest Money Deposit and all prior payments hereunder to Seller, as liquidated damages and not as a penalty. Purchaser agrees that, in the event of a default by Purchaser hereunder, Seller's damages would be difficult or impossible to determine and that an amount equal to the Earnest