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6 <br />LA515\146\976162.v3 <br />regulations of any government or other body, except as stated above. Buyer acknowledges and <br />agrees that Seller has not made and does not make any representations, warranties, or covenants <br />of any kind or character whatsoever, whether expressed or implied, with respect to warranty of <br />income potential, operating expenses, uses, habitability, tenant ability, or suitability for any <br />purpose, merchantability, or fitness of the Sale Parcel for a particular purpose, all of which <br />warranties Seller hereby expressly disclaims, except as stated above. <br /> <br />13. POSSESSION. Seller shall transfer possession of the Sale Parcel to Buyer on the Closing <br />Date. Seller agrees to remove from the Sale Parcel any personal property no later than the Closing <br />Date. Items not removed by that date will become property of the Buyer after closing and may <br />thereafter be disposed of by Buyer, in its sole discretion and at the Seller’s cost. <br /> <br />14. BROKER COMMISSIONS. Seller represents and warrants to Buyer that Seller is <br />represented by Anne Smith of Metrohomesmarket.com. With this exception, Seller has not <br />involved any other broker in this transaction or agreed to pay commission to any other broker. <br />Buyer represents and warrants to Seller that Buyer has not involved a broker in this transaction or <br />agreed to pay commission to any broker. Each party agrees to indemnify, defend, and hold each <br />other harmless for any and all claims for brokerage commissions or finders' fees in connection <br />with negotiations for purchase of the Sale Parcel in accordance with this Agreement. <br /> <br />15. DEFAULT. If Seller, through no fault of Buyer, defaults in her obligations hereunder in any <br />manner, Buyer may, by notice upon Seller, (i) terminate this Agreement, in which event all Earnest <br />Money paid hereunder shall immediately be delivered to Buyer, or (ii) avail itself of an action for <br />specific performance. If Buyer shall default in the performance of any of its obligations hereunder, <br />then Seller shall be entitled to terminate this Agreement and, upon such termination, Seller shall <br />retain all Earnest Money paid hereunder, as and for her liquidated damages and sole remedy for <br />said breach, and not as a penalty or forfeiture, actual damages being difficult or impossible to <br />measure, and no party hereto shall have any further claim against the other hereunder. <br /> <br />16. NO MERGER OF REPRESENTATIONS, WARRANTIES. All representations and <br />warranties contained in this Agreement shall not be merged into any instruments or conveyance <br />delivered at Closing, and the parties shall be bound accordingly. <br /> <br />17. ENTIRE AGREEMENT; AMENDMENTS. This Agreement constitutes the entire <br />agreement between the parties, and no other agreement prior to this Agreement or <br />contemporaneous herewith shall be effective except as expressly set forth or incorporated herein. <br />Any purported amendment shall not be effective unless it shall be set forth in writing and executed <br />by both parties or their respective successors or assigns. <br /> <br />18. BINDING EFFECT; ASSIGNMENT. This Agreement shall be binding upon and inure to <br />the benefit of the parties and their respective heirs, executors, administrators, successors, and <br />assigns. <br /> <br />19. NOTICE. Any notice, demand, request, or other communication which may or shall be given <br />or served by the parties shall be deemed to have been given or served on the date the same is <br />deposited in the United States Mail, registered or certified, postage prepaid and addressed as