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12. Binding Effect, This Agreement binds and benefits the parties and their <br />successors and signs. <br />13. Controlling Law. This Agreement has been mode under the laws of the State of <br />Minnesota, and such laws will control its interpretation. <br />14. Agreement as to Status of Credits. Seller and Buyer agree that the Credits are <br />personal property. Seller and Buyer agree that, by virtue of the execution of this Agreement and <br />the transfer of the Credits, Buyer shall not the deemed to have obtained an interest in the Land. <br />Neither this Agreement nor the Bill of Sale shall be recorded or filed in the real property records <br />of the county where the Land is located. <br />Money will be the sole remedy available to Seller for default by Buyer, and Buyer will <br />not be liable for specific performance. If Seller defaults under this Agreement, Buyer shall have <br />no right to seek damages from Seller for Seller's defaults hereunder. The foregoing shall not <br />preclude Buyer from recovering the Earnest Money in the event of Seller's default or from <br />obtaining recovery from Seller with respect to Seller's express obligations hereunder to <br />indemnify and hold harmless Buyer. <br />Seller and Buyer have executed this Agreement as of the date first written above. <br />SELLER: <br />WALLS BROTHERS FARMS <br />DK}i/W ails/purchase.agree <br />6 <br />By <br />Robert Walls <br />Its <br />BUYER: <br />CITY OF LINO LAKES <br />By <br />Mayor <br />By <br />Clerk <br />