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the "Permitted Exceptions." Notwithstanding the foregoing, Seller shall satisfy and discharge of <br />record any and all mortgages, deeds of trust and lines encumbering the Property and in no event <br />shall any such mortgage, deed of trust or lien be considered a Permitted Exception. <br />XI. <br />REMEDIES/TERMINATION <br />11.1 Seller's Remedies. If Purchaser defaults in performing its obligations hereunder <br />for any reason other than Seller's default, Seller's sole remedy shall be to terminate this Contract <br />and to retain the Option Fees full and complete liquidated damages hereunder. <br />11.2 Purchaser's Remedies. If Seller defaults in performing its obligations hereunder <br />for any reason other than Purchaser's default, Purchaser shall be entitled to terminate this <br />Contract and to receive a refund of the Option Fee, and Purchaser may, in addition to or in the <br />alternative, use all remedies available to it, including specific performance to obtain performance <br />of all the terms and conditions herein and suit for damages arising out of any breach of covenant <br />or representation or warranty by the Seller. <br />11.3 Cure of Default. No failure or default by Purchaser or Seller with regard to any <br />act required by it shall result in the termination or limitation of any right of such Party hereunder, <br />unless and until such Party shall have failed to remedy such failure or cure such default within <br />fifteen (15) days after the receipt of notice from the other Party specifying such failure or default. <br />11.4 Termination. If this Contract is terminated by mutual agreement of the Parties <br />hereto, Purchaser shall be entitled to the return of the Option Fee, and thereafter the parties <br />hereto shall have no further obligation or liability one to the other hereunder. <br />XII. <br />REAL ESTATE COMMISSION <br />The Parties hereby represent and warrant to each other that there are no real estate <br />commissions or finder's fees to be paid by the Purchaser as a result of the execution and /or <br />consummation of this Contract. Further, each party agrees to hold the other harmless and to <br />indemnify the other from any and all claims for real estate commissions and/or finders fees. <br />XIII. <br />NnTTCF C <br />13.1 Any notice, request or other communication given pursuant to this Contract shall <br />be in writing and shall be deemed delivered: <br />(A) five (5) days after deposit in the United States Mail, registered or certified <br />mail, return receipt requested, postage prepaid; <br />(B) when received if personally delivered; <br />7 <br />2013 Base Option <br />Attachment number 1 <br />G -9 <br />Page 205 <br />