Laserfiche WebLink
-3- <br /> <br />complete this transaction shall be deposited with Minnesota <br />Title Company as escrow agent, on or before June 15, 1966, <br />and said escrow agent is instructed to complete this trans- <br />action as soon as all necessary documents and funds are <br />deposited and the escrow agent may attach its usual condi- <br />tions of acceptance of escrow hereto. Each party will pay <br />one-half of the escrow fee. VENDEE to pay the cost of <br />recording deed° VENDOR agrees to pay the cost of revenue <br />stamps. <br /> <br />If the title to said premises shall not be marketable, then <br />the VENDOR shall refund to the VENDEE the earnest money paid <br />to the VENDOR and the same shall he accepted by the VENDEE in <br />full satisfaction and discharge of all claims and demands of <br />the VENDEE arising or in any manner growing out of this agree- <br />ment and thereupon this agreement shall be null and void and <br />both parties released from the obligations thereof° <br /> <br /> In the event the VENDEE fails to perform this contract of <br /> purchase and sale as hereinbefore provided, the VESTDOR may, <br /> at its election, either pursue its rights at law and in equity <br /> or it may retain the earnest money aforesaid paid in the sum <br /> of Three Hundred Dollars ($300.00) to apply toward the pur- <br /> chase price as liquidated damages. <br /> SIGNATURES <br /> Section 3. That this ordinance is hereby <br />declared to be an emergency measure for the reasons stated <br />in the preamble hereof and providing it receives the affirma- <br />tive vote of two-thirds of all members elected to Council, it <br />shall take effect and be in force immediately upon its adoption <br />and approval by the Mayor. <br /> <br />Adopted: <br /> <br />Approved: <br /> <br />Mayor <br /> <br /> <br />