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10.2 Purchase Agreement - HOTGL Hotel
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10.2 Purchase Agreement - HOTGL Hotel
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7 <br />c. The Consequences of Failing to Cure Title Objections. If said objections are <br />not remedied within sixty (60) days from the date of Seller's receipt of said <br />objections, then Buyer shall have the following two alternatives: <br /> <br />i. Buyer may accept title to said Real Property subject to said objections; or <br /> <br />ii. Buyer may declare this entire transaction to be null and void. <br /> <br />If Buyer declares this transaction to be null and void pursuant to this Section, all <br />Earnest Money paid by Buyer to Seller shall be immediately refunded by Seller to <br />Buyer. <br /> <br />9. ENTIRE AGREEMENT; MODIFICATION. This written Agreement constitutes the <br />complete agreement between the Parties and supersedes any prior oral or written <br />agreements between the Parties regarding the Real Property. There are no verbal <br />agreements that change this Agreement and no waiver of any of its terms will be effective <br />unless in writing executed by the Parties. <br /> <br />10. BINDING EFFECT. This Agreement binds and benefits the Parties and their <br />successors and assigns. <br /> <br />11. CONTROLLING LAW. The Parties acknowledge and agree that each has been given <br />the opportunity to independently review this Agreement with legal counsel, and/or has <br />the requisite experience and sophistication to understand, interpret, and agree to the <br />particular language of this Agreement. The Parties have equal bargaining power, and <br />intend the plain meaning of the provisions of this Agreement. In the event of an <br />ambiguity in or dispute regarding the interpretation of this Agreement, the ambiguity or <br />dispute shall not be resolved by application of any rule that provides for interpretation <br />against the drafter of the Agreement. This Agreement has been made under the laws of <br />the State of Minnesota, and such laws will control its interpretation. <br /> <br />12. DATES AND TIME PERIODS. Should the date for the giving of any notice, the <br />performance of any act, or the beginning or end of any period provided for herein fall on <br />a Saturday, Sunday or legal holiday, such date shall be extended to the next succeeding <br />business day which is not a Saturday, Sunday or legal holiday. <br /> <br />13. NOTICES. Any notice required or permitted to be given by any party upon the other is <br />given in accordance with this Agreement if it is directed to Seller by delivering it <br />personally to an officer of Seller; or if it is directed to Buyer, by delivering to a partner of <br />Buyer; or if mailed by United States registered or certified mail; return receipt requested, <br />postage prepaid; or if deposited cost paid with a nationally recognized, reputable <br />overnight courier, properly addressed as follows: <br /> <br />If to Buyer: Montgomery Jensen, Its Owner <br /> Northern Hospitality Development Group PL LLC <br /> 3062 Ni Gig Trail NW
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