Agenda Packets - 1997/10/06 - Laserfiche WebLink

Home Browse Search

FILE No. 038 10/41 '97 15:58 ID:TOLD DEVELOPMENT 612 420 7574 PAGE 18 ', contested, between the parties upon final • of closing, and, if the valuation should bereadjusted determination of the actual year of closing taxes. 6.2.2 Buyer shall pay the premium for Buyer's title insurance policy including all required endorsements and the cost of the Survey. Buyer and Seller shall each pay for one-half of any closing fees. 6.2.3 Seller shall pay for any deed stamp tax or transfer tax due with respect to the warranty deed. Buyer shall pay all recording fees. 7. RIGHT OF ENTRY: IIVEMNITY. During the term hereof, Buyer, its agents and employees shall have the right to enter upon the Property for the purposes described in Sections 3 and 4 hereof and for any other reasonable purpose. Buyer agrees to indemnify and hold Seller harmless from and against any claim, loss or expense, including reasonable attorneys' fees, to the extent such are caused by Buyer pursuant to this Section 7. 8. DEFAULT:TERMINATION. If either party shall default in any of its respective obligations under this Agreement, the other party may, by written notice to such defaulting party specifying the nature of the default and the date on which this Agreement shall terminate (which date shall be not less than twenty (20) days after the giving of such notice), terminate this Agreement and upon such date, unless the default so specified shall have been cured, this Agreement shall terminate. If this Agreement is terminated by Seller for Buyer's default, the earnest money shall be forfeited to and retained fio by Seller as agreed final liquidated damages and shall become the sole and exclusive property of Seller and Buyer shall deliver to Seller copies of all reports (other than prospective tenants) to Seller. If this Agreement is terminated by Buyer for Seller's default or as otherwise provided in this Agreement, such earnest money shall thereupon be returned to Buyer and Buyer shall have the right to seek all remedies available at law or in equity including without limitation, specific performance. Seller agrees that Buyer is entitled to specific performances of the Agreement. If any litigation or other legal action results from a breach of this Agreement, the losing or defaulting party shall pay the prevailing or non-defaulting party an amount equal to the prevailing or non-defaulting party's reasonable attorneys' fees and other reasonable costs in connection therewith. The provisions of Section 8 shall survive closing. 9. MISCELLANEOUS. 9.1 Wherever in this Agreement it shall be required that notice or demand be given by either party to this Agreement to or on the other, such notice or demand shall not be deemed given or served unless in writing and forwarded by registered or certified mail, postage prepaid or by confirmed facsimile transmission, addressed as follows: (The date of transmission of the facsimile or the date deposited in the U.S. mail or with an expedited delivery carrier, shall be deemed the date of notice. Any date of performance falling on a Saturday, Sunday or holiday shall be deemed to occur on the first non- holiday weekday, next occurring.) -6-