Resolution 2016-73 - Laserfiche WebLink

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e. Seller's closing costs and any other documents required by this Contract to be delivered by Seller to the Title Company or reasonably required by Buyer or the Title Company in connection herewith. 13. Possession of the Property shall be delivered on the date and time of closing. 14. Time is of the essence hereof. Accordingly, if a Party is in default in any material respect to the terms of this Contract, the other Party may elect to treat this Contract as terminated, in which case all other things of value received hereunder shall be immediately returned to the Parties, or the non -defaulting Party may elect to treat this Contract as being in full force and effect and shall have the right to an action for specific performance or damages, or both. Anything to the contrary notwithstanding, in the event of any litigation or arbitration arising out of this Contract, the court may award to the prevailmg party all reasonable costs and expenses, including reasonable attorneys' fees. REPRESENTATIONS AND WARRANTIES 16. Each Party as Seller, hereby represents for the benefit of the other Party as Buyer, that as of the date of the signing of this Contract: a. Seller has received no actual notice of, and has no other knowledge of, any litigation, claim or proceeding, pending or currently threatened, which in any manner affects the Property; b. Seller has received no actual notice, and has no other knowledge of, any current, existing violations of any federal, state or local law, code, ordinance, rule, regulation, or requirement affecting the Property; c. Seller has the full right, power and authority to transfer and convey the Property to the Buyer as provided in this Contract and to carry out the Seller's obligations under this Contract; e. To the best of Seller's knowledge, Seller has not entered into any agreements with any private persons or entity or with any governmental or quasi -governmental entity with respect to the Property that may result in liability or expenses to Buyer upon the Buyer's acquisition of all or any portion of the Property; f. Seller has received no actual notice of any special assessments proposed as to the Property; g. To the best of Seller's knowledge, the execution and delivery of this Contract and the performance of all of the obligations of the Seller thereunder will not result in a breach of or constitute a default under any agreement entered into by the Seller or under any covenant or restriction affecting the Property; 6