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Authentisign ID:92CCDA7D-4AA5-F011-8E61-002248330C80 <br /> Agreement within three (3) months after such right arises. Buyer and Seller agree that it would <br /> be impractical and extremely difficult to estimate the damages which Seller would suffer if the <br /> purchase and sale contemplated by this Purchase Agreement is not consummated by reason of <br /> Buyer's failure to perform its obligations under this Purchase Agreement. Buyer and Seller <br /> further agree that the Earnest Money constitutes a reasonable estimate of the total net detriment <br /> which Seller would suffer in the event of such a default by Buyer. Accordingly, if the purchase <br /> and sale contemplated by this Purchase Agreement is not consummated by reason of Buyer's <br /> failure to perform its obligations under this Purchase Agreement, then Seller shall be entitled to <br /> receive the Earnest Money as Seller's exclusive remedy (whether at law or in equity) as the full, <br /> agreed upon and liquidated damages which Seller is entitled to for such breach of this Purchase <br /> Agreement by Buyer. <br /> 22. Broker Commissions. Seller represents to Buyer that it has engaged Greatland <br /> Real Estate Services LLC as a broker in commission with the transaction contemplated by this <br /> Agreement and agrees to pay its broker a commission per a separate listing agreement at <br /> successful closing. Buyer represents to Seller that it has engaged Small Bay Properties <br /> ("Buyer's Broker") as a broker in connection with the transaction contemplated by this <br /> agreement and Seller agrees to pay Buyer's Broker a commission of 3.0% of the purchase price <br /> at successful closing. <br /> 23. Notices. Any notice permitted or required pursuant to this Purchase Agreement <br /> shall be in writing and shall be deemed given or served in accordance with the provisions of this <br /> Purchase Agreement if personally delivered or if sent by email, with a confirming copy mailed <br /> by United States mail, certified mail, postage prepaid, addressed to the parties as follows: <br /> If to Seller: Andrei Bortnov <br /> BBAK Ventures LLC <br /> 5821 Cedar Lake Rd S, Suite 350 <br /> St. Louis Park, MN 55416 <br /> andrei@greatlandres.com <br /> If to Buyer: Brian Scholten <br /> 5491 Adams LLC <br /> 22630 Xerxes Ave <br /> Lakeville, MN 55044 <br /> brian@smallbayproperties.com <br /> Each such notice will be deemed to have been given when personally delivered or emailed, as <br /> applicable, as above provided. <br /> 24. Successors and Assigns. This Purchase Agreement shall be binding upon and <br /> inure to the benefit of the parties and their respective successors and assigns. Upon prior written <br /> notice to Seller, Buyer may assign its interest in this Purchase Agreement to another entity <br /> provided that Buyer first give written notice of such transfer promptly after such transfer. Buyer <br /> may assign its rights in writing under this Agreement prior to Closing to an entity organized or <br /> incorporated by Buyer to perform Buyer's obligations under this Agreement. Buyer shall <br /> 9 <br />