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05-19-99 13:48 From-KENNEDY & GRAVEN +6123379310 T-806 P.15/31 F-170 Developer, 19,0. Miscellaneous. The following general provisions govern this Agreement. 19.1. Time is of the Essence. The Date of Closing is of the absolute essence. In the event this transaction does not close on the Date of Closing because the Authority is unable to perform as required by this Agreement, the Agreement shall be null and void and all Earnest Money 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 Money shall be delivered to the Authority as liquidated damages. 19.2. Governing Law. This Agreement is made and executed under and in all respects is to be governed and construed under the laws of the State of Minnesota. 19.3. Notices and Demands. Except as otherwise expressly provided in this Agreement, a notice,demand,or other communication under this Agreement by either party to the other shall be sufficiently given or delivered if it is dispatched by registered or certified mail, postage prepaid, return receipt requested, or delivered personally to the parties as follows: Authority: The Mounds View Economic Development 2401 Highway 10 Mounds View,MN 55112-1499 Developer: Marquis Builders,Inc. 1211 old Highways NW New Brighton,MN 55112 or at such other address with respect to either such party as that party may, from time to time,designate in writing and forward to the other as provided in this Section. 19.4. Construction. The captions and headings of the various sections of this Agreement are for convenience only and are nor to be construed as defining or as limiting in any way the scope or intent of the provisions hereof. Wherever the context requires or permits, the singular shall include the plural, the plural shall include singular, and the, masculine,feminine and neuter shall be freely interchangeable. 19 5. Assignability. This Agreement and the rights set out herein may be assigned by Developer upon notice to Authority,provided, however, any assignment shall not release Developer from any liability under this Agreement. 19.6. Entire Agreement. This Agreement sets forth the entire understanding of the parties and may be amended, modified or terminated only by an instrument signed by the parties. 19.7. Counterparts. For the convenience of the parties, any number of counterparts umm-02543 13 MU205-2