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DocuSign Envelope ID:368077B5-648E-48A2-ABF6-2F3D8743222B <br /> i <br /> a. Termination; Liquidated Damages. Buyer may terminate this contract by <br /> giving notice to Seller on or before the Closing Date and Closing Time and <br /> have the Earnest Money returned to Buyer, provided Seller will retain the <br /> $1,000.00 Inspection Period Fee. Unless Seller's Default relates to the <br /> untruth or incorrectness of Seller's representations for reasons not <br /> reasonably within Seller's control,if Seller's Default occurs after Buyer has <br /> incurred costs to investigate the Property after the Effective Date and Buyer <br /> terminates this contract in accordance with the previous sentence, Seller <br /> will also pay to Buyer as liquidated damages the lesser of Buyer's actual <br /> out-of-pocket expenses incurred to investigate the Property after the <br /> Effective Date or the amount of Buyer's Liquidated Damages, within ten <br /> days after Seller's receipt of an invoice from Buyer stating the amount of <br /> 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 60 days after the breach or alleged breach of this contract. If title <br /> to the Property is awarded to Buyer, the conveyance will be subject to the <br /> 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 and <br /> have the Earnest Money paid to Seller.If Buyer's Default occurs after Seller <br /> has incurred costs to perform its obligations under this contract and Seller <br /> terminates this contract in accordance with the previous sentence, Buyer <br /> will also reimburse Seller for the lesser of Seller's actual out-of-pocket <br /> expenses incurred to perform its obligations under this contract or the <br /> 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 /> b. Specific Performance. Subject to section M,15, Seller may enforce specific <br /> performance of Buyer's obligations under this contract. If title to the <br /> Property is awarded to Buyer,the conveyance will be subject to the matters <br /> stated in the Title Commitment. <br /> 3. Liquidated Damages. The parties agree that just compensation for the harm that <br /> would be caused by a default by either party cannot be accurately estimated or would be very <br /> difficult to accurately estimate and that Buyer's Liquidated Damages or the Earnest Money and <br /> Seller's Additional Liquidated Damages are reasonable forecasts of just compensation to the <br />