11. Casualty and Condemnation
Suppose a casualty event damages or destroys the Property or is subject to a condemnation proceeding before Closing. In such a situation, the Buyer may choose to:
(a) The Buyer will purchase the Property and adjust the Purchase Price for the loss in value.
(b) The Buyer can end this Agreement and receive a refund of the earnest money deposit.
(c) The Buyer can end this Agreement and receive a refund of the earnest money deposit.
12. Default and Waiver
The non-defaulting Party may pursue any legal remedy if either Party breaches this Agreement. These remedies can be available at law or in equity. This encompasses precise compensation for any losses or injuries incurred.
If either Party cannot insist upon strict performance of any provision in this Agreement, it does not imply a waiver. The non-defaulting Party does not waive any subsequent breach or default.
Under this Agreement, the Parties must deliver all notifications and requests in writing. The Parties will deem them given upon delivery if sent by certified mail with a return receipt requested. The Parties will consider them given if emailed to their respective addresses outlined in this Agreement. The Parties may choose to provide other addresses for communication through written notice.
14. Resolving Claims or Disputes
The Parties will strive to solve any matters of claim or disagreement that are a consequence of or associated with this Agreement. They will do so through good faith negotiations. Suppose the Parties cannot resolve the dispute through negotiation. In that case, they may submit the issue to mediation. They can opt for binding arbitration under the rules of the American Arbitration Association.