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-3- <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 be accepted by the VENDEE <br />in full satisfaction and discharge of all claims and demands <br />of the VENDEE arising or in any manner growing out of this <br />agreement and thereupon this agreement shall be null and void <br />and 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 VENDOR 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 One Thousand Dollars ($1,000,00) to apply toward the purchase <br />price as liquidated damages. <br /> <br />VENDOR agrees to waive the building set-back requirements <br />contained in Section 1135.01 of the Codified Ordinances of <br />the City of Lakewood and to permit construction of a build- <br />ing for branch banking purposes in accordance with plans <br />now on file with the City of Lakewood. <br /> <br />ThiS instrument contains the entire agreement between the <br />parties and said agreement shall inure to the benefit of <br />and be binding upon the respective parties, their successors <br />and assigns. <br /> <br /> Section 3. That this ordinance is hereby declared to be an <br />emergency measure for the reasons stated in the prmamble hereof and <br />providing it receives the affirmative vote of two-thirds of all <br />members elected to Council, it shall take effect and be in force <br />immediately upon its adoption and aPProval by the Mayor. <br /> <br />Adopted: <br /> <br />__.Robert E. _Wendlin_~ <br /> President <br /> <br />_ ._ Grace Reynol4~,, <br /> Clerk <br /> <br />Approved: Tulv 1~. 1968 <br /> <br />Robert M. L~wth~,,r <br /> Mayor <br /> <br /> <br />