Resolution 2008-29 - Laserfiche WebLink

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13. Possession of the Property shall be delivered to Purchaser on or before the date and tithe of closing. 14. Time is of the essence hereof. Accordingly: a. if Purchaser should fail to perform according tea the terms and conditions of this Contract, Seller may in writit~g declare this Contract tertrtinated and retain al] things of value held by Seller hereunder as liquidated damages. It is agreed that such things of value are liquidated damages and are Seller's sole and only remedy 1~or Ptn-chaser'~ failure to perform the obligations of this Contract. Seller expressly waives the r+:medi(:s of specific performance and additional damages. b. if Seller is in default, Purchaser may elect to treat this Contract as terminated, in which case all things of value received hereunder shall be immediately returned to Purchaser, or Purchaser may elect to treat this Contract as being in full force and effect anti Purchaser shrill have the right to an action for specific performance ordamages, or both. Anything to the conteary notwithstanding, in the event of any litigation or arbitration arising out of this Contract, the court may award to the prevailinb party al] reasonable costs and etipetrses, including reasonable attorneys' fees. CONDEMNATION CONTINCTE~NCY 15. The Seller acknowledges that if this Contract does not close for any rs~ason by the closing date set forth herein then. the Purchaser may file a conc~lenlnation lar~vsuit t(~ ol~tait~ immediate possession of and title to the Property. The Seller acknawledges and agrees that (a) the Purchaser will need immediate possession of and title to the Property for the Dillon Road ]mprovernents Project: ('`Project"), (b) tl~e Purchaser has the authority to condemn the Property, (c) tl~e Property is needed by the Pttrchascr and is necessary for and in furtherance of the Project., (d) the i'ro~ect is for a public ttse and a public benettt, (e) there will Dave been a failure of good faith negotiations to acquire the Property, (f} the Purchaser will be etatitled to inumediatc possession of tl~e I'ropcrty upat~ payment cif the stun of $b7,U0Q.00 into the Registry of the cou~•t and Seller hereby stipulates to a motion by the [3uycr far an order to deposit this sutra into. the Registry of the Cout•t, (g) it will not. oppose a tmc~tian by Buyer far the entry of a Rule and Order conveying the Property to the Seller, (h) the sum of $67,Q00.00 constitutes the total just compensation, including the value of tl~e part taken, damages. benefits, fees and costs to be paid for acquisition of the Property anti transfer to the Buyer by Rule an(I {~rdec, and (i) it Itas rights pursuant to Article II Section 1 S of`tl~e Colorado C'onstituti(7n attd the pi'UV1sio11S of C.R.S. y§ 3$-1-1Q1, et. seq, and has voluntarily aa~rccd to the te--n~s of this paragraph 15 and hereby 4vaives any rights that may be inconsistent with ~.he terms of this paragraph (S. The Seller agrees that this Contract may be presented to th(: court to prove the Seller's agreement that it has stipulated to immediate possession of the Properly and stipulated to the entry of a Rule and Order conveying the Property to the. Purchaser for tl~e sung oC $67,Od0..00. Th( Purchaser and Seller agree the terms, conditions and agreements set forth in this paragraph •will survive any default by any party and are enforceable if this Contract does -~at close for any reason by the closing date set forth i~ercin. REPRESENTATIONS ANll WARI~:ANTIES