2022-062 Ordinance - Laserfiche WebLink

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15. Broker. The parties hereby represent to one another that neither of them has dealt with any real estate brokers. The parties hereby agree to be responsible for claims made by any real estate broker, agent or finder who brought about and/or participated in the sale and purchase of the Property on its behalf. 16. Default A. If the Seller fails to proceed to Closing by reason of default. Purchaser shall have the right to terminate this Agreement by notifying the Seller of such termination and to pursue additional remedies at law or equity that may be available to the Purchaser. B. If Purchaser fails to proceed to Closing by reason of default, the Seller shall have the right to terminate this Agreement by notifying Purchaser of such termination and to pursue additional remedies at law or equity that may be available to the Seller. 17. Benefit. This Agreement shall bind and inure to the benefit of the parties hereto and their respective heirs, successors, personal and legal representative and assigns. I8. Law. This Agreement shall be governed by the laws of the State of Ohio. Any legal proceedings related to this Agreement shall be brought in the Court of Common Pleas in the County where the Property is located, Ohio, except when the US. District Court for that County is determined to have excIusi vcj urisdiction. 19. Calculation of 'Dime. If any time period under this Agreement expires on a day which is not a Business Day, the time period shall be extended to the next day that is a Business Day. As used in this Agreement, a'Business Day" is any day other than a Saturday, Sunday or legal holiday observed by the State of Ohio. 20. Risk of Condemnation or Casualty Pendine Closinu. All risk of loss to the Property shall remain upon Seller until the conclusion of the Closing_ If, prior to Closing, either (a) condemnation or eminent domain proceedings shall be commenced by any public authority, other than the City of north Olmsted, Ohio, against the Property, or any part thereof, or if Seller shall receive notice of any pending or threatened condemnation or eminent domain proceedings; or (b) the Property or any part of the Property shall be damaged by fire or other casualty, then, in either such event, Seller shall give Purchaser immediate written notice thereof accompanied by reasonable supporting documentation. After any such notice is received by Purchaser, Purchaser shall have the option to (i) accept the Property and proceed to Closing subject to the proceedings or casualty (as applicable), whereupon any awards or insurance proceeds (as applicable) shall be paid to Purchaser, and Seller hereby assigns to Purchaser all of Seller's right, tide, and interest in and to any such awards or insurance proceeds (as applicable); or (i i) terminate this Agreement and receive a full refund of the deposit, whereupon the parties shall have no rights, duties, or obligations hereunder, except those speci 6cally stated in this Agreement to survive termination of this .Agreement.