2022.03.07 CC Packet - Laserfiche WebLink

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14. Default. (a) Buyer Default. IF BUYER FAILS TO CLOSE THE PURCHASE OF THE PROPERTY FOR ANY REASON OTHER THAN SELLER’S DEFAULT OR PURSUANT TO A REASON LISTED THIS AGREEMENT, THEN SELLER MAY, AT ITS SOLE DISCRETION, TERMINATE THIS AGREEMENT AND RETAIN THE EARNEST MONEY AS LIQUIDATED DAMAGES. (b) Seller Default. IF SELLER FAILS TO CLOSE THE SALE OF THE PROPERTY FOR ANY REASON OTHER THAN BUYER’S DEFAULT, THEN BUYER MAY, AT ITS SOLE DISCRETION, TERMINATE THIS AGREEMENT AND HAVE THE EARNEST MONEY RETURNED. 15. General Provisions. The parties further agree as follows: (a). Time. Time is of the essence for this Agreement. (b) Entire Agreement. No change or modification of this Agreement shall be valid unless the same is in writing and signed by the parties hereto. This Agreement contains the entire agreement between the parties relating to the purchase and sale of the Property. All prior negotiations between the parties are merged in this Agreement and there are no promises, agreements, conditions, undertakings, warranties or representations, oral or written, express or implied, between the parties other than as set forth herein. (d) Governing Law. This Agreement shall be construed and enforced in accordance with laws of the State of Minnesota. (e) Survival. All of the parties’ representations, warranties, covenants and agreements hereunder, to the extent not fully performed or discharged through the Closing, shall not be deemed merged into any instrument delivered at that Closing and shall remain fully enforceable thereafter and shall survive Closing to the extent and subject to the limitations otherwise provided in this Agreement. This shall include any provision of Paragraph 16 hereof. (f) Notices. All notices, demands or other communications required or permitted to be given hereunder shall be in writing, in person, by mail with postage prepaid or by overnight courier service, at the following addresses: