Reso 2015-2446 - Laserfiche WebLink

Home Browse Search

an alleged default under this Agreement except such actions as are necessary to obtain the Liquidated Sum; and (iv) upon receipt by Seller of the Liquidated Sum, this Agreement shall cease and terminate and be of no further force and effect, and Seller shall have no further claims against Purchaser under this Agreement except for any claims under any provisions of this Agreement that specifically survive termination of this Agreement. Seller hereby expressly waives all rights to seek damages other than the liquidated damages provided for in this paragraph and agrees to waive any defense of mutuality of remedy. In the event of a default by Seller under this Agreement, which default is not cured by Seller within thirty (30) days after written notice thereof to Seller, Purchaser shall have the option of either: (A) seeking specific performance of Seller's obligations hereunder; or (B) terminating this Agreement by giving written notice to Seller and immediately receive a refund of all deposits paid by Purchaser under this Agreement. In the event that Purchaser elects option (B)above then upon receipt by Purchaser of its deposit,this Agreement shall cease and terminate and be of no further force and effect, and Purchaser shall have no further claims against Seller under this Agreement, except for any claims under any provisions of this Agreement that specifically survive termination of this Agreement. The provisions of this Paragraph 7 shall survive any termination of this Agreement. Notwithstanding anything herein to the contrary, the thirty (30) day notice and cure period provided for in this Paragraph 7 shall not apply with respect to any party's failure to timely close in accordance with the terms of this Agreement. 8. Prorations. Real estate taxes, personal property taxes, assessments and all items of income and expense regarding the Property shall be prorated as of the date of Closing, provided, however, that assessment lien(s) which had been certified as of the date of Closing, and pending liens where the improvements have been substantially completed, shall be satisfied by Seller, in full, at Closing. In the event that the tax bill for the year of Closing is not available, Seller shall comply with Section 196.295, Florida Statutes. Under this Section, in the event fee title to the Property is acquired between January 1, and November 1 of any year by Purchaser, Seller shall be required to place in escrow with the county tax collector an amount equal to the current taxes prorated to the date of transfer of title, based upon the current assessment and millage rates on the land involved. This fund shall be used to pay any ad valorem taxes due, and the remainder of taxes which would otherwise have been due for that current year shall stand cancelled. In the event fee title to the Property is acquired between November 2 and December 31, Seller, at least five (5) business days prior to Closing, shall notify the Property Appraiser's Office ("Appraiser's Office") of the impending closing date and provide the Appraisers Office with the legal description, address, folio number and any other relevant property information in order to obtain from the Appraiser's Office a final tax payoff, which will be collected at closing. There shall be no proration of taxes and the Purchaser shall be exempt from the payment of taxes effective on the day of closing. In the event any other expenses pertaining to the Property are not known at Closing, then such expenses shall be prorated based on an estimate and the parties will reprorate same upon receipt of the actual bill for such expenses. In the event there is any recoupment or other consideration payable to applicable 7