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<br />of the "Deed" (as hereinafter defined) required by the terms of this Agreement as permitted and in <br /> <br />accordance with the requirements of Section 627.7841, Florida Statutes. Seller agrees that it will not <br /> <br />take any action after the Effective Date of this Agreement which shall adversely affect the status of title <br /> <br />to the Property. Seller shall be required to cure any Title Defects and Seller shall satisfy any <br /> <br />encumbrances or liens at time of closing. <br /> <br />12. No Leasehold Interests. <br /> <br />The Seller represents there are no leases, permits, or licenses of any type on the Property which <br /> <br />are in full force and effect except a lease agreement between Seller and the current tenant existing on the <br /> <br />Property. The lease agreement shall be provided to Buyers within five (5) days of acceptance of this <br /> <br />Agreement for Purchase and Sale. The Seller agrees to terminate the Lease no later than forty five (45) <br /> <br />days prior to Closing. If there are any persons in possession without written leases, estoppel letters from <br /> <br />such person specifying the nature and duration of the occupancy shall be furnished to the Buyers by <br /> <br />Seller prior to the expiration of the Inspection Period as defined herein. Seller shall deliver sole <br /> <br />possession of the Property to Buyers at Closing free and clear of any leases or tenancies. <br /> <br />13. Remedies on Default of Buver. <br /> <br />If Buyers fails to close, and the Seller is not in default hereunder, and title is as required under <br /> <br />this Agreement, this Agreement and all rights and obligations of the parties hereunder shall terminate <br /> <br />and Seller shall retain the entire Deposit made by Buyers as liquidated and agreed upon damages as its <br /> <br />sole and exclusive remedy, and thereafter, the parties hereto shall be released from all obligations <br /> <br />hereunder. The parties hereby agree that the damages which Seller would sustain by reason of Buyers' <br /> <br />breach are beyond calculation and not subject to determination and the deposit are agreed by the parties <br /> <br />to be reasonable measure of damages in the event of Buyers' breach. <br /> <br />8 of 17 <br /> <br />,I': 1 r.... <br />", :1 ~.1 <br />1,.) j ;'~) <br /> <br /> <br />/11 <br />