Res 2006-014 - Laserfiche WebLink

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I I I ARTICLE 9 Real Estate Commission Section 9.1 Commission. Seller and Purchaser covenant and agree one with the other that no real estate commissions, finders' fees or brokers' fees have been or will be incurred in connection with the Contract or the sale contemplated hereby. Section 9.2 INDEMNITY. EACH PARTY HERETO REPRESENTS TO THE OTHER THAT SUCH RESPECTNE PARTY HAS NOT AUTHORIzED ANY BROKER OR FINDER TO ACT ON SUCH PARTY'S BEHALF IN CONNECTION WITH THE SALE AND PURCHASE HEREUNDER. EACH PARTY HERETO AGREES TO INDEMNIFY AND HOLD HARMLESS THE OTHER PARTY FROM AND AGAINST ANY AND ALL CLAIMS, LOSSES, DAMAGES, COSTS OR EXPENSES OF ANY KIND OR CHARACTER ARISING OUT OF OR RESULTING FROM ANY AGREEMENT, ARRANGEMENT OR UNDERSTANDING ALLEGED TO HAVE BEEN MADE BY SUCH PARTY WITH ANY BROKER OR FINDER IN CONNECTION WITH TIllS CONTRACT OR THE TRANSACTION CONTEMPLATED HEREBY. THIS OBLIGATION SHALL SURVIVE THE CLOSING OR ANY EARLIER TERMINATION OF TInS CONTRACT. Section 9.3 Title. Purchaser acknowledges that, at the time of execution of this Contract, Purchaser was advised by Seller to have the abstract covering the Property examined by an attorney of Purchaser's own selection or that Purchaser should be furnished with or obtain a policy of title insurance. ARTICLE 10 Remedies of Default Section 10.1 Seller Default. In the event all conditions of this Contract are satisfied by Purchaser (if Purchaser's obligation) or waived and in the event all covenants and agreements to be performed by Purchaser prior to Closing are fully performed, and in the further event that performance of this Contract is tendered by the Purchaser and the sale is not consummated through default on the part of the Seller on the Closing Date, then Purchaser shall be entitled to either (i) enforce specific performance hereunder, or (ii) terminate this Contract and receive a return of the Earnest Money. In no event or circumstance shall Purchaser ever be entitled to bring an action for any type of damages against Seller, Purchaser hereby waiving all rights to do so. Section 10.2 Purchaser Default. In the event of Purchaser's default hereunder, Purchaser shall immediately deliver to Seller, without warranties, copies of all studies or tests, including, but without limitation, soil tests, topographical information, structural tests, engineering and economic feasibility studies, or other similar preliminary work. In the further event that the sale is not consummated through default on the part of the Purchaser, the Earnest Money shall in such event be retained by Seller or paid to the Seller by the Title Company, as the case may be, as liquidated damages for the Purchaser's default and as Seller's sole and exclusive remedy hereunder. Such amount is agreed upon by and between the Seller and the Purchaser as -12- L