AG 1999 02 15 - Laserfiche WebLink

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Frank W. Clifton, Jr. County Manager Cabarrus County P. O. Box 707 Concord, NC 29026-0707 9. Seller and Buyer represent and warrant that there are no real estate brokers due a commission in regard to this transaction other than Jeffrey Carpenter, and each will indemnify the other from claims from any brokers. Buyer is responsible for a commission to Carpenter. 10. In the event of default by Seller, Buyer shall have available all legal and equitable remedies, including specific performance. 11. In the event of a default by Buyer, Seller shall be entitled to keep all monies paid hereunder as liquidated damages, as its sole remedy. 12. Buyer may enter upon the Property at any time during the term of this Contract to conduct such engineering or other tests or studies as Buyer may desire, provided that Buyer repair any material damages to the Property if the Contract is not exercised. 13. In the event a title search by Buyer's attorneys reveals a defect in title which renders title to the property uninsurable without exception or otherwise unsuitable to Buyer, then Buyer shall have the option to either: a) cancel this contract, wherein all deposits will be paid to Buyer, or b) cure such defect, if capable of being cured by the expenditure of money, and deduct the costs thereof from the Purchase Price at closing, or c) proceed to closing hereunder with an equitable reduction in the Purchase Price. 14. In the evem Seller's cooperation or effort is needed or deemed advisable in the site planning or permitting, curing of any title defect, changing any other condition of the Property deemed advisable by Buyer, Seller shall render such effort(s) in good faith and in a timely manner. 15. This Contract constitutes the entire agreement between the parties and shall be binding upon and inure to the benefit of the parties and their respective heirs, successors and assigns. This Contract shall not be binding until both parties have signed hereinbelow. 16. Time is of the essence of this contract. 17. This contract must be fully accepted and executed by Seller by no later than 5:00 p.m. November 30, 1998 and if not executed on or before said date, the contract shall be null and void. 18. This Agreement shall be binding upon, and inure to the benefit of, the parties hereto, their respective successors, assigns and legal representatives. This Agreement is freely assignable by Buyer without the prior consent of Seller.