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02/27!2001 02:16 F?-I 14407770107 GAREAU DLigELRO-- <br />in default, and Seller not being in default hereunder, 5eller may: <br />(1) Bring suit for damages against 8uyer; or <br />(2) Rewind the trasasaction. <br />ARTICLE S. MISGEI.LANFOIIS <br />Salvage_Rights <br />5.01 Buyer agrees that Seller shall have exclusive satvage rights to de buildings oa the <br />proP=Ey, and all tangible personal pmperty and fixtures located within any building oa tiu; <br />plopetty. Said salvage rights of Seller must be exercised, if at all, and all salvapd pzopeai,y must <br />be remaveti from the premises, vpon vaca.ting said premises. Said salvage rights da not include <br />the right to remrne trees, shrubs or from the land. Any snch cconnduct is <br />qxuificallY Prohibited, <br />$u " i " <br />5.02 Except as othenvise specified hereia, Bvyer acknowledges dat sid propetty is beang <br />parchasad far purposes of the construction of a new h'brary building. All structur?s will be <br />zemoved from the property, Consequently, the City waives the reqairemeat of aDisclasure <br />Statement and agrees to taks the pmperty in an "as is" condition, unless odumwise provided <br />herein. <br />Assignment of A ment <br />5.03 This Agreement shall be binding on the respective heirs, executars, adminiza <br />succ,es;sars, and to the extent assignable, on the assigns or nominees of the parties heretv. Qn <br />delivezy to Seller af an inslniment in writing whereby the assignee of the Buyer asmmes al1 of the <br />provisions of this Agreement w be performed by Buyer, then, in that event, Buyer shail be <br />releaseti and dischargad of all furthes liability hezeunder. <br />Z0 6 <br />5