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8 <br />Cass Lake, MN 56633 <br /> <br /> If to Seller: Angie Duus, City Administrator <br /> City of Pequot Lakes <br />4638 Main Street <br />Pequot Lakes, MN 56472 <br /> <br />Notices shall be deemed effective on the earlier of the date of receipt or the date of <br />deposit as aforesaid; provided, however, that if notice is given by deposit, that the time <br />for response to any notice by the other party shall commence to run two (2) business days <br />after any such deposit. Any party may change its address for the service of notice by <br />giving written notice of such change to the other party, in any manner above specified. <br /> <br />14. REMEDIES. If Buyer defaults under this Agreement, Seller shall have the right to <br />terminate this Agreement by giving written notice to Buyer. If Buyer fails to cure such <br />default within thirty (30) days after receipt of such written notice, this Agreement will <br />terminate, and upon such termination Seller will retain the Earnest Money as liquidated <br />damages, time being of the essence of this Agreement. The termination of this <br />Agreement and retention of the Earnest Money will be the sole remedy available to Seller <br />for such default by Buyer, and Buyer will not be liable for damages. If Seller defaults <br />under this Agreement, Buyer may terminate the Agreement upon thirty (30) days’ written <br />notice to Seller (Seller having cure rights during the 30-day period), and upon such <br />termination, the Earnest Money shall be refunded to Buyer and thereafter, neither party <br />shall have any further rights or obligations hereunder. <br /> <br />15. MISCELLANEOUS PROVISIONS. <br /> <br />a. Voluntary and Knowing Action. The Parties, by executing this Agreement, <br />state that they have carefully read this Agreement and understand fully the <br />contents thereof; that in executing this Agreement they voluntarily accept all <br />terms described in this Agreement without duress, coercion, undue influence, or <br />otherwise, and that they intend to be legally bound thereby. <br /> <br />b. Authorized Signatories. The Parties each represent and warrant to the other that <br />(1) the persons signing this Agreement are authorized signatories for the entities <br />represented, and (2) no further approvals, actions or ratifications are needed for <br />the full enforceability of this Agreement; each party indemnifies and holds the <br />other harmless against any breach of the foregoing representation and warranty. <br /> <br />c. Data Practices. The parties acknowledge that this Agreement is subject to the <br />requirements of Minnesota’s Government Data Practices Act, Minnesota Statutes, <br />Section 13.01 et seq. <br /> <br />d. Assignment. This Agreement may not be assigned by either Party without the <br />written consent of the other Party, which consent shall not be unreasonably <br />withheld, conditioned or delayed.