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other shall be deemed given or served in accordance with the <br /> provisions of this Agreement if said notice or election is <br /> mailed in a sealed wrapper in the United States registered or <br /> certified mail , postage prepaid, property addressed as follows : <br /> If to the Owner : c/o Mr . Dan Engelsma <br /> Kraus-Anderson, Incorporated <br /> 523 South Eighth Street <br /> Minneapolis, Minnesota 55404 <br /> If to HRA: 3301 N.E. Silver Lake Road <br /> St . Anthony, Minnesota 55418 <br /> Each notice shall be deemed given to , or served upon, the party <br /> to whom addressed on the date the notice is deposited in the <br /> United States registered or certified mail , postage prepaid, <br /> properly addressed in the manner above provided . <br /> 14 . Binding Effect . All covenants , agreements , <br /> warranties and provisions of this Agreement shall be binding <br /> upon and inure to the benefit of the parties hereto and their <br /> respective heirs , representatives , successors and assigns . <br /> 15 . Closing With Redeveloper . Notwithstanding <br /> • anything to the contrary hereinabove contained, this Purchase <br /> Agreement is expressly contingent upon the simultaneous closing <br /> of the sale of the Property to the Redeveloper . The Date of <br /> Closing provided for herein shall be extended to such later <br /> date as may be dictated by operation of the provisions hereof . <br /> If the sale to the Redeveloper has not occurred on or before <br /> February 1 , 1989 , then Owner and the HRA shall each have the <br /> right , at their option, to terminate this Agreement by written <br /> notice to the other party, in which event neither the HRA nor <br /> Owner shall be further liable hereunder . <br /> 16 . [ Intentionally Omitted] <br /> 17 . Release of Other Interests . Owner , as the owner <br /> of Owner ' s Remaining Real Estate, is or may be a beneficiary of <br /> various easements and other interests encumbering portions of <br /> the parcel of land that the HRA will be selling to the <br /> Redeveloper . On the Date of Closing, in exchange for the <br /> payment of the purchase price hereunder and without any <br /> requirement of additional consideration, Owner will release any <br /> rights which it has in the easements and other interests listed <br /> in Exhibit D attached hereto and made a part hereof . <br /> 18 . Reimbursement for Parking Lot Repairs . The HRA <br /> agrees to reimburse Owner for up to $10 , 000 in expenses <br /> • incurred by Owner after the date hereof for ( i) repairing the <br /> -8- <br />