2019/07/17 Council Agenda Packet

11.2 Default by Buyer. IN THE EVENT THE BUYER FAILS, WITHOUT LEGAL EXCUSE, TO COMPLETE THE PURCHASE OF THE PROPERTY, THE DEPOSIT SHALL BE FORFEITED TO THE SELLER AS THE SOLE AND EXCLUSIVE REMEDY AVAILABLE TO THE SELLER FO UCH FAILURE. Seller Initials BuyeerrKitials 12. Notices; Time. 12.1 Notices. All notices shall be in writing and shall be (1) personally delivered, (2) sent by U.S. Mail to the addressee's mailing address set forth below, or (3) sent to the addressee's email address(es) below. Either party hereto may, by proper notice to the other, designate any other address for the giving of notice. Any notice shall be deemed effective upon earlier of actual receipt or three (3) days after mailing or emailing. Seller: City of Everett Real Property Manager 3200 Cedar Street Everett, WA 98201 Buyer: Williams Investments I LLC Jari K. Williams 2517 Colby Ave Everett, WA 98201 12.2 Calculation of Time Periods. Time is of the essence of this Agreement. Unless otherwise specified, in computing any period of time described in this Agreement, the day of the act or event after which the designated period of time begins to run is not to be included and the last day of the period so computed is to be included, unless such last day is a Saturday, Sunday or legal holiday. The final day of any such period shall be deemed to end at 5 p.m., Pacific Standard or Daylight time, as applicable. 13. General. 13.1 This is the entire agreement of Buyer and Seller with respect to the matters covered hereby and supersedes all prior agreements between them, written or oral. This Agreement may be modified only in writing, signed by Buyer and Seller. Any waivers hereunder must be in writing. 13.2 No waiver of any right or remedy in the event of default hereunder shall constitute a waiver of such right or remedy in the event of any subsequent default. 0 42