Res 2013-075/Approving a contract with Robert Peyton for the purchase 1.18 acres of land

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within ninety days after closing, Seller and Purchaser will make postclosing adjustments to correct the errors within fifteen days of receipt of notice of the errors. ARTICLE VI EARNEST MONEY For the purpose of securing the performance of Purchaser under the terms and provisions of this Contract, Purchaser will deliver to the Title Company the sum of One Thousand Dollars ($1,000.00), the Earnest Money, which shall be paid by the Title Company to Seller in the event Purchaser breaches this Contract as provided in Article VIII hereof. At the closing, the Earnest Money shall be paid over to Seller and applied to the cash portion of the Purchase Price. ARTICLE VII BREACH BY SELLER In the event Seller shall fail to fully and timely perform any of its obligations hereunder or shall fail to consummate the sale of the Property for any reason, except Purchaser's default, Purchaser may as Purchaser's sole remedies: (1) enforce specific performance of this Contract; or (2) request that the Earnest Money shall be forthwith returned by the Title Company to Purchaser. ARTICLE VIII BREACH BY PURCHASER In the event Purchaser should fail to consummate the purchase of the Property, the conditions to Purchaser's obligations set forth in Article III having been satisfied and Purchaser being in default and Seller not being in default hereunder, Seller shall have the right to receive the Earnest Money from the Title Company, the sum being agreed on as liquidated damages for the failure of Purchaser to perform the duties, liabilities, and obligations imposed upon it by the terms and provisions of this Contract, and Seller agrees to accept and take this cash payment as its total damages and relief and as Seller's sole remedy hereunder in such event. ARTICLE IX MISCELLANEOUS 9.01. Notice. Any notice required or permitted to be delivered hereunder shall be deemed received when sent by United States mail, postage prepaid, certified mail, return receipt requested, addressed to Seller or Purchaser, as the case may be, at the address set forth opposite the signature of the party or upon delivery of email messages to such email address as provided by the receiving party. 9.02. Texas Law. This Contract shall be construed under and in accordance with the laws of the State of Texas, and all obligations of the parties created hereunder are performable in Hays County, Texas. 9.03. Successors and Assigns. This Contract shall be binding upon and inure to the 3