AG 2002 05 13 (Recessed) - Laserfiche WebLink

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Seller, elect to cancel this Agreement. In the event that the Purchaser shall so elect, both padies shall be relieved and released of and from any further liability hereunder,' and the Seller or, Escrow Agent shall forthwith return to Purchaser the earnest money. Unless this Agreement is so canceled, it shall remain in full force and effect, and the Seller shall assign, - transfer and set over to Purchaser all the Seller's rights, title and interest in and to any awards that may be made for such taking. 16. Riohts in Event of'Defag~. Should Purchaser default under the terms of this Agreement, all non-refundable earnest money paid pursuant to Paragraph 2 to Seller or Escrow Agent hereunder shall be .and represent liquidated damages for any default on the part of the Purchaser or its assignee, which liquidated damages shall be the full extent of liability of the Purchaser with respect to any default hereunder and Seller shall have no other right, claim or cause of action against Purchaser or its assignee. In the event Seller shall fail to comply with or perform any of the conditions to be complied with or any other obligation to be performed by Seller under the terms and conditions of this Agreement, Purchaser shall be entitled to exercise any and .al rights or remedies available to it at law or in equity, including, without limitation (a) an action at law against Seller for damages incurred by Purchaser by reason thereof, (b) an action in equity against Seller for the specific performance by Seller of the terms and provisions of this Agreement, and (c) the right to terminate this Agreement by giving written notice of such termination to Seller, whereupon all earnest money paid to Seller or Escrow Agent shall be immediately refunded to Purchaser. 17. No Waste. During the existence of this Agreement Seller shall permit no waste upon the Proper~y, including, but not limited to, cutting of trees and removal of any improvements without the consent of Purchaser. and Seller shall maintain the Prope~y in as good condition as it is now, usual wear and tear excepted. 18. Governmental AoDroval~. Seller hereby agrees to sign necessary documents allowing Purchaser to obtain Site Plan Approval including, but not limited to, rezoning 'application, variance applications, access encroachment permits, and preliminary subdivision plats. 19. Tax Deferred Exchange, n the event Purchaser or Seller desires to effect a tax-deferred exchange in connection with the conveyance of the Property, Purchaser and Seller agree to cooperate in affecting such exchange; provided, however, that the exchanging party shal'l be responsible for all additional costs associated with such exchange, and provided further, that a non-exchanging party shall not assume any additional liability with respect to such tax-deferred exchange. Seller and Purchaser shall execute such additional documems, at no cost to the non-exchanging party, as shall be required to give effect to this prowslon.