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L.. Default and Remedies <br />1. Seller's Default. If Seller fails to perform any of its obligations under this contract. <br />or if any of Seller's representations is not true and correct as of the Effective Date or on the <br />Closing Date O'Seller's Defaulf'), Buyer may. elect either of the following as its sole and <br />exclusive remedy: <br />Termination; Liquidated Damages. Buyer may terminate this contract by <br />giving notice to Seller on or before the Closing Date and Closing Time <br />and have the Earnest Money, less $100 as described above, returned to <br />Buyer, Unless Seller's Default relates to the untruth or incorrectness of <br />Seller's representations for reasons not reasonably v�ithin Seller's control, <br />if Seller's Default occurs after Buyer has incurred costs to investigate the <br />Property after the Effective Date and Buyer terminates this contract in <br />accordance with the previous sentence, Seller Will also pay to Buyer as <br />liquidated damages the lesser of Buyer's actual out-of-pocket expenses <br />incurred to investigate the Property after the Effective Date or the amount <br />of Buyer's Liquidated Damages,within ten days after ' ter Seller's receipt of an <br />invoice from Buyer stating the amount of Buyer's expenses. <br />b. Specific Performance. Unless Seller's Default relates to the untruth or <br />incorrectness of Seller's representations for reasons not reasonably within <br />Seller's control, Buyer may enforce specific performance of Seller's <br />obligations under this contract, but any such action must be initiated, if at <br />all, within -ninety days after the breach or alleged breach of this contract. If <br />title to the Property is awarded to Buyer, the conveyance will be subject to <br />the matters stated in the Title Commitment. <br />2. Buyer's Default. If Buyer fails to perform any of its obligations under this contract <br />("Buyer's Default"), Seller may elect either of the following as its sole and exclusive remedy: <br />a. Termination; Liquidated Damages. Seller may terminate this contract by <br />giving notice to Buyer on or before the Closing Date and Closing Time <br />and have the Earnest Money paid to Seller. If Buyer's Default occurs after <br />Seller has incurred costs to perform its obligations under this contract and. <br />Seller terminates this contract in accordance with the previous sentence, <br />Buyer will also reimburse Seller for the lesser of Seller's actual out-of- <br />pocket expenses incurred to perform its obligations under this contract or <br />the, amount of Seller's Additional Liquidated Damages, within ten days of <br />Buyer's receipt of an invoice from Seller stating the amount of Seller's <br />expenses. <br />3. Liquidated Damages. The parties agree that just compensation for the ham that <br />would be caused by a default by either party cannot be accurately estimated or would be . very <br />