Reso 2023-3589 - Laserfiche WebLink

Home Browse Search

(B) In the event the Purchaser should fail to consummate the transaction contemplated herein for any reason except for (i) any permissible reasons set forth herein or (ii) Seller's default, Seller may demand the Escrow Agent to pay any deposit, such sum being agreed upon 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 Agreement and because the difficulty, inconvenience and uncertainty of ascertaining actual damages, and no other damages, rights or remedies shall in any case be collectible, enforceable or available to Seller other than as provided in this paragraph. (C) Seller and Purchaser shall not be required to perform any obligation under this Agreement or be liable to each other for damages so long as the performance or nonperformance of the obligation is delayed, caused, or prevented by an act of God of force majeure. An "act of God" or "force majeure" is defined as hurricanes, earthquakes, floods, fire, unusual transportation delays, wars, insurrections, and any other cause not reasonably in the control of the claiming party and which by exercise of due diligence the non-performing party is unable- in whole or in part to prevent or overcome. 13. BROKERS. Seller and Purchaser each warrants to each other that no persons, firms, corporations or other entities are entitled to a real estate commission or other fees as a result of this Agreement or subsequent closing, except as accurately disclosed below: Seller: None Purchaser: None Seller shall and Purchaser shall to the extent permitted by applicable law indemnify and hold harmless each other harmless from any and all such claims under this paragraph, whether disclosed or undisclosed. However, Seller and Purchaser agree that this provision shall not have the effect of waiving sovereign immunity or the provisions of section 768.28, Florida Statutes. 14. ESCROW AGENT AND ESCROW PROCEDURE. Escrow Agent, as specified in paragraph 1(C), by acceptance of the funds deposited by Purchaser hereunder, agrees to hold such funds and to disperse the same only in accordance with the terms and conditions of this Agreement. In the event of a termination of this Agreement or a default under this Agreement, the deposit (inclusive of the interest accrued thereon) shall be delivered or disbursed by Escrow Agent as provided in this Agreement. If either party shall declare the other party in default under this Agreement and such party makes demand (the "Demand") upon Escrow Agent for possession of the deposit, said party must provide the other party with a copy of such Demand made upon Escrow Agent. Except with respect to Demands for the deposit made by Purchaser prior to or on the expiration of the investigation period provided in paragraph 4. (in which event Escrow Agent shall promptly deliver the deposit to Purchaser upon demand), Escrow Agent shall not disburse the deposit in accordance with the Demand until the demanding party delivers to Escrow Agent evidence (e.g., returned receipt from U.S. Postal Service) of the 8 _Sptj rchaser��Seller 236