Reso 2009-1453 - Laserfiche WebLink

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12. Assignabilitv. Purchaser may not assign its rights hereunder without Seller's consent, provided, however, that upon any such assignment, any such assignee shall agree to be bound by the terms and conditions set forth in this Agreement. 13. Notices. Any notices required or permitted to be given under this Agreement shall be in writing and shall be deemed given if delivered by hand, sent by recognized overnight courier (such as Federal Express), transmitted via facsimile transmission or mailed by certified or registered mail, return receipt requested, in a postage pre-paid envelope, and addressed as follows: PURCHASER: The City of Sunny Isles Beach 18070 Collins Avenue Sunny Isles Beach, Florida 33160 Attn: Rick Conner, City Manager and Hans Ottinot, City Attorney SELLER: Ranaan Katz R.K. Associates, Inc. 17100 Collins Ave. Sunny Isles Beach, Florida 33160 Barry T. Shevlin, Esq. Law Offices of Barry Shevlin 1111 Kane Concourse #605 Bay Harbor Isles, FL 33154 ESCROW AGENT: Attn: Artie Montaner Chicago Title Insurance Co. 2701 Gateway Drive, Pompano Beach, FI 33069 Notices personally delivered or sent by overnight courier shall be deemed given on the date of receipt, notices sent via facsimile transmission shall be deemed given upon transmission, and notices sent via certified mail in accordance with the foregoing shall be deemed given two (2) days following the date upon which they are deposited in the U.S. Mails. 14. Risk of Loss. If, prior to Closing, the Property or any material portion thereof is destroyed or damaged, Seller shall promptly notify Purchaser and Purchaser shall have the option of either: (i) canceling this Agreement by delivery of written notice to Seller and both parties shall be relieved of all further obligations under this Agreement; or (ii) Purchaser may proceed with the Closing, whereupon Purchaser shall be entitled to (and Seller shall assign to Purchaser all of Seller's interest in) all insurance and/or condemnation payments, awards and settlements applicable to the Property. In the event Purchaser elects option (ii) above in connection with casualty to the Property in which insurance proceeds are or will be paid and assigned to Purchaser, then Purchaser shall receive a credit against the Purchase Price for any insurance deductible that must be paid. In the event of casualty or damage caused by a party other than the Seller prior to closing, proceeds from the insurance claims shall be rewarded to Seller. In the event of a casualty or damage caused by a party other than the Seller after closing, proceeds from insurance claims shall be rewarded to Seller. The provisions of this Paragraph 14 shall survive the Closing and any cancellation or earlier termination of this Agreement. 9 1t..1e.. - /V?"