ROBERTS ALLEN & SANDY - Laserfiche WebLink

SELL THE PROPERTY TO BUYER AND MAY PROCEED AGAINST BUYER UPON ANY CLAIM OR REMEDY SELLER MAY HAVE IN LAW OR EQUITY; PROVIDED, HOWEVER, THAT BUYER AND SELLER HEREBY AGREE BY PLACING THEIR INITIALS BELOW THAT IT WOULD BE IMPRACTICAL AND EXTREMELY DIFFICULT TO ESTABLISH THE ACTUAL DAMAGES SUSTAINED BY SELLER, AND THAT TWO PERCENT (2%) OF THE PURCHASE PRICE IS A REASONABLE APPROXIMATION THEREOF. ACCORDINGLY, IF BUYER FAILS TO COMPLETE THE PURCHASE DUE TO BUYER'S DEFAULT, TWO PERCENT (2%) OF THE PURCHASE PRICE SHALL CONSTITUTE THE LIQUIDATED DAMAGES OF SELLER AND SHALL BE PAID BY BUYER TO SELLER FROM THE DEPOSIT HELD BY THE ESCROW AGENT, AND THE BALANCE OF THE DEPOSIT SHALL BE RETURNED TO BUYER. SELLER HEREBY AGREES TO WAIVE ALL OTHER REMEDIES AGAINST BUYER, WHICH SELLER MIGHT OTHERWISE HAVE IN LAW OR IN EQUITY BY REASON OF DEFA T BY BUYER. n BUYER: ~ ~ " SELLER: 11.15 ASSIGNMENT. Buyer's rights and obligations hereunder may be assigned by Buyer to any assignee, subject to Seller's approval which approval shall not be unreasonably withheld; provided, however, that in no event shall Buyer be released from any of its obligations hereunder. Any such assignee shall have all of the benefits, including rights to specific performance, damages, and enforcement of Seller's representations and warranties, provided for Buyer under this Agreement. 12. ACCESS AND GRADING EASEMENT. Buyer hereby agrees that, concurrently with the Close of Escrow, Buyer will grant an access and grading easement across the real property that is currently designated as Alameda County Assessor's Parcel Number 946-4567-010-05, as the servient tenement, that allows for access and grading associated with the repair, maintenance and/or replacement of the water tank currently located on the Bonde II Land, as the dominant tenement, subject to the terms and conditions set forth in the Easement Deed attached hereto as Exhibit E ("Easement Deed") and incorporated herein by this reference ("Grading Easement"). The Grading Easement will be approximately ten (10) feet wide and one hundred fifty (150) feet long and will be located approximately as set forth on Exhibit B. Prior to close of escrow Seller shall retain a licensed surveyor to determine the exact legal description of Grading Easement, which legal description shall be attached to the Easement Deed. Both Buyer and Seller shall approve of said legal descriptions by written notice to the other within ten (10) days of Seller delivering said legal description to Buyer ("Consent Period"), and such approvals shall not be unreasonably withheld. If a party fails to deliver such approval during the Consent Period, then that party shall be deemed to have approved of said legal description. If a party objects to said legal description by written notice delivered to the other party within the Consent Period, then the parties shall revise and approve of said legal description. 13. TERMINATION of OFFER. This Agreement, once executed by Buyer, shall constitute an offer to purchase the Property on the terms and conditions in this Agreement. Unless this offer is accepted by Seller and a signed copy personally received by Buyer or by Buyer's attorney, by 5 RBR'I'~9630W91167.6