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Draft 2.10.2022 10. DEFAULT: If the title to the Premises be found marketable or be so made within said time, and Buyer shall default in any of the covenants contained in this Agreement and continue into default for a period of ten (10) days, then and in that case, Sellers may terminate this Agreement and on such termination all the payments made under this Agreement shall be retained by Sellers as liquidated damages, time being of the essence hereof. This provision shall not deprive either party of the right of enforcing the specific performance of this Agreement provided this Agreement shall not be terminated as aforesaid, and provided action to enforce such specific performance shall be commenced within six months after such right of action shall arise. 11. CONTINGENCIES: This Agreement is subject to the following contingencies: A. Inspection of Proert . This Agreement is contingent upon an inspection and approval of the Property by the Buyer at the Buyer's expense. Such inspection must be conducted within thirty (30) days of the signing and acceptance of this Agreement by all parties. Sellers hereby grant to Buyer, its agents and designated representatives the right to enter upon the Property at reasonable times and from time to time after the date of this Agreement for the purposes of inspecting the Property. B. Environmental ins ection. This Agreement is contingent upon Buyer approving the environmental condition of the Property not later than thirty (30) days of the signing and acceptance of the Agreement by all parties, pursuant to paragraph 14 of this Agreement. C. General Inspection. This Agreement is contingent upon Buyer's inspection of the Property disclosing, in the Buyer's sole discretion, no unsatisfactory conditions, not later than thirty (30) days of the signing and acceptance of the Agreement by all parties. Buyer and Buyer's agents shall have a reasonable right of access to the Property at reasonable times prior to closing, solely for the purpose of inspecting the Property. D. Sewer Inspection. The Buyer shall be responsible for any sewer line inspections. E. A roval of Board. This Agreement is contingent upon approval of this Agreement by the Mounds View Economic Development Authority Board of Commissioners. F. Leases. Sellers to supply Buyer with a copy of all written leases and a list of any outstanding verbal agreements regarding leasehold agreements and evidence that such leases or agreements have been terminated. G. Waiver of Relocation Assistance. Buyer's approval of the Waiver of Relocation Assistance, Services, Payments and Benefits Agreement with Sellers as more fully set forth in paragraph 23. Upon the approval of Buyer's governing body, the Buyer shall provide written notice to Sellers that the contingencies set forth above are satisfied. Until Sellers receive such 4 DOCSOPEN\MU205\57\776768. v5-1 /28/22