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15. Commissions. Neither party has engaged the services of <br />any real estate agent or broker and no commission is owed by either <br />party in this transaction. Colony Square shall indemnify and hold <br />harmless the City from and against any and all claims of commission <br />arising solely through Colony Square, and the City shall indemnify <br />and hold harmless Colony Square from and against any and all claims <br />of commission arising solely through the City. <br /> <br /> 16. Remedies Upon Default. Time is of the essence hereof. <br />Accordingly, if either party is in default, the non-defaulting <br />party may elect to treat this Agreement as terminated, in which <br />case all payments and things of value given hereunder shall be <br />immediately returned, or the non-defaulting party may elect to <br />treat this Agreement as being in full force and effect and the non- <br />defaulting party shall have the right to an action for specific <br />performance, which shall be the sole and only remedy for default. <br />With respect to any default arising under Paragraphs 14 or 20, the <br />non-defaulting party may pursue the remedies provided herein only <br />after it has provided written notice of default and such default <br />remains uncured five (5) days after such written notice has been <br />given. Anything to the contrary notwithstanding, in the event of <br />any litigation or arbitration arising out of this Agreement, the <br />court may award to the prevailing party all reasonable costs and <br />expenses, including reasonable attorneys' fees. <br /> <br /> 17. Additional Remedies. Either party shall have the <br />right to terminate this Agreement in the event any action <br />whatsoever is commenced by a third party to defeat or enjoin the <br />City's or Colony Square's performance under this Agreement. If a <br />party elects to terminate the Agreement pursuant to this Paragraph, <br />it shall provide written notice to the other party declaring this <br />Agreement terminated, whereupon all things of value received <br />hereunder shall be immediately returned and both parties shall be <br />released herefrom. <br /> <br /> 18. Representations and Warranties. Each party hereby <br />represents and warrants to the other that as of the date of the <br />signing of this Agreement: <br /> <br /> a. Except for differences intended to be settled <br />through this Agreement, it has received no actual notice of, <br />and has no other knowledge of, any litigation, claim or <br />proceeding, pending or currently threatened, which in any <br />manner affects the Parcel to be conveyed by it; and <br /> <br /> b. It has received no actual notice, and has no other <br />knowledge of, any current, existing violations of any federal, <br />state or local law, code, ordinance, rule, regulation, or <br />requirement affecting the Parcel to be conveyed by it; and <br /> <br /> c. It has the full right, power and authority to <br />transfer and convey the Parcel currently owned by it to the <br /> <br /> <br />