Reso 2009-1478 - Laserfiche WebLink

Home Browse Search

any petroleum or petroleum derivative products. To Sellers best knowledge, without limiting the foregoing Seller further covenants and warrants unto Purchaser that during the period in which Seller has had an interest in the Property: (i) no asbestos or similar materials now or at any time in the past have been located upon the Property; (ii) no petroleum, or any petroleum derivative products have ever been stored or disposed on the Property. Seller hereby discloses to Purchaser that radon is a naturally occurring radioactive gas, that, when it has accumulated in a building in sufficient quantities may present health risks to persons who are exposed to it over time. Levels of radon have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county public health unit. To the best of Seller's knowledge no radon contamination exists or has existed on the Property. (e) Seller will execute such affidavits and undertakings reasonably required by the Title Company to issue the Title Policy at Closing to Purchaser in the amount of the Purchase Price, subject only to the Acceptable Exceptions (f) Seller shall not at any time while this Agreement is in effect, make or permit any contract or agreement or impose or allow to impose any new lien, encumbrance or other matter affecting title to the Property or grant or allow to be granted any right in or on or to the Property without the prior written consent of Purchaser, which consent may be withheld by Purchaser (g) The entering into this Agreement (and the sale of the Property to Purchaser) (i) shall not constitute a violation or breach by Seller of: (A) any contract, agreement, understanding or instrument to which it is a party or by which Seller or the Property is subject or bound; or (B) any judgment, order, writ, injunction or decree issued against or imposed upon them; and (ii) will not result in the violation of any applicable law, order, rule or regulation of any governmental or quasi-governmental authority. (h) Seller and any related party effectuating the transaction contemplated herein shall provide Purchaser at Closing an affidavit in full compliance with Section 286.23, Florida Statutes. The prOVISIons of this Paragraph 6 shall survIve the Closing or the earlier termination of this Agreement. 7. Default. In the event of a default by Purchaser hereunder not cured by Purchaser within thirty (7) days after written notice thereof to Purchaser, Seller may as its sole and exclusive remedy terminate this Agreement by giving written notice to Purchaser and immediately receive from Purchaser the amount of ONE HUNDRED THOUSAND DOLLARS ($100,000) ("the Liquidated Sum"), as agreed upon liquidated damages and in full settlement of all claims of the Seller against the Purchaser arising from or related to this Agreement. Seller and Purchaser specifically understand and agree that (i) the foregoing remedy is intended to operate as a liquidated damages clause and not as a penalty or forfeiture provision; (ii) the actual damages that Seller may suffer if Purchaser defaults are impossible to ascertain precisely and, therefore, the Liquidated Sum represents the parties' reasonable estimate of such damages considering all of the circumstances existing on the date of this Agreement; (iii) the Liquidated Sum is intended to fully compensate Seller for entering into this Agreement and, therefore, Seller shall not be entitled to bring any action at law or in equity against Purchaser for Agreement of Purchase and Sale 16200 Collins Ave. 5