2010.06.14 EDA Packet - Laserfiche WebLink

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5.19.10 Draft by United States registered or certified mail, return receipt requested, postage prepaid; or if deposited cost paid with a nationally recognized, reputable overnight courier, properly addressed as follows: If to Seller: The City of Hugo 14669 Fitzgerald Avenue North Hugo, MN 55038 Attn: Bryan Bear With Copy to Eckberg Lammers Law Firm 1809 Northwestern Avenue Stillwater, MN 55082 Attn: David K. Snyder If to Buyer: Mark Finnemann _2145 Ford Parkway #301 SaintPaul,Minnesota 55 l 16 Notices shall be deemed effective on the earlier of the date of receipt or the date of deposit, as aforesaid; provided, however, that if notice is given by deposit, the time for response to any notice by the other party shall commence to run one business day after any such deposit. Any party may change its address for the service of notice by giving notice of such change 10 days prior to the effective date of such change. 15. Miscellaneous. The paragraph headings or captions appearing in this Agreement are for convenience only, are not a part of this Agreement, and are not to be considered in interpreting this Agreement. This written Agreement constitutes the complete agreement between the parties and supersedes any prior oral or written agreements between the parties regarding the Property. There are no verbal agreements that change this Agreement, and no waiver of any of its terms will be effective unless in a writing executed by the parties. This Agreement binds and benefits the parties and their successors and assigns. This Agreement has been made under the laws of the State of Minnesota, and such laws will control its interpretation. 16. Remedies. If Buyer defaults under this Agreement, Seller shall have the right to terminate this Agreement in accordance with the applicable Minnesota statutes. If Buyer fails to cure such default within the statutory cure period, this Agreement will terminate, and upon such termination Seller will retain the Earnest Money as liquidated damages, time being of the essence of this Agreement. If Seller defaults under this Agreement, Buyer shall have the right to commence an action for specific performance of this Agreement as Buyer's sole and exclusive remedy under this Agreement. IN WITNESS WHEREOF, Setter and Buyer have executed this Agreement effective as of the Effective Date. -6-