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w <br /> li <br /> 9.7 Intentionally Omitted. <br /> 9.8 Bankruptcy. Seller has received no written notice of any <br /> attachments, execution proceedings, assignments for the benefit of creditors, <br /> insolvency, bankruptcy, reorganization or other proceedings pending or threatened <br /> against Seller, nor are any contemplated by Seller. <br /> 9.9 No Prior Contracts. Seller has not entered into any other <br /> contracts for the sale of the Property'to any other parties, nor do there exist any rights of <br /> first refusal or options to purchase the Property. Seller has not sold, transferred, <br /> conveyed or restricted any development rights relating to the Property. <br /> 10. Buyer's Authority. Buyer represents and warrants to Seller that, at the <br /> date of execution hereof and at the date of closing, Buyer and the person signing on <br /> behalf of Buyer has and will have full power and authority to execute this Agreement <br /> and to perform Buyer's obligations hereunder, and all necessary action to authorize this <br /> transaction has and will have been taken. <br /> 11. Default. Time is of the essence of this Agreement. If Seller fails to • <br /> perform any of its obligations hereunder either prior to or at closing for any reason other <br /> than Buyer's failure to tender performance of its obligations hereunder, then Buyer shall <br /> have all available legal and equitable remedies, including the remedy of specific <br /> performance. In any suit, action or appeal therefrom, to enforce this Agreement or any <br /> term or provision hereof, or to interpret this Agreement, the prevailing party shall be <br /> entitled to recover its costs incurred therein, including reasonable attorneys' fees. <br /> 12. Notices; Time. <br /> 12.1 Notices. All notices, waivers, elections, approvals and demands <br /> required or permitted to be given hereunder shall be in writing and shall be personally <br /> delivered or sent by United States certified mail, return receipt requested, to the <br /> addressee's mailing address set forth below. Either party hereto may, by proper notice <br /> to the other, designate any other address for the giving of notice. Any notice shall be <br /> effective when personally delivered or, if mailed as provided herein, on the earlier of <br /> actual receipt or three (3) days after the date deposited in the mail. <br /> Buyer: The City of Everett <br /> Real Property Manager <br /> 3200 Cedar Street <br /> Everett,WA 98201 <br /> Seller's Representative: Valerie Steel <br /> 2817 Rucker Ave <br /> Everett, WA 98201 <br /> 12.2 Calculation of Time Periods. Unless otherwise specified, in <br /> computing any period of time described in this Agreement, the day of the act or event <br /> 8 <br />