Common use of BREACH OR FAILURE TO CLOSE Clause in Contracts

BREACH OR FAILURE TO CLOSE. The parties agree that If SELLER has performed Seller's obligations under this Contract, and if at the Closing the Buyer fails to pay the balance of the Purchase Price or to perform any other obligations under this Contract, then Seller may, at Seller's option, either a) unilaterally cancel and terminate Buyer's right to purchase the Property, including all legal and equitable interest, if any, Buyer may have regarding the Property and retain all sums previously paid on the Purchase Price as liquidated damages, or b) elect to recover from Buyer the actual damages incurred by Seller, including loss of the balance of the Purchase Price, costs of resale, attorney's fees, and such other incidental damages as may be lawfully recovered. If BUYER has performed Buyer's obligations under this Contract and Seller fails to perform its obligations under the Contract, then Buyer may, as Buyer's sole and exclusive remedy, terminate Buyer's obligation to purchase the Property, by written notice to Seller, and recovery to Buyer shall be limited to the down payment deposit on the property.

BREACH OR FAILURE TO CLOSE. The parties agree that If if SELLER has performed Seller's ’s obligations under this Contract, and if at the Closing the Buyer fails to pay the balance of the Purchase Price or to perform any other obligations under this Contract, then Seller may, at Seller's ’s option, either a) unilaterally cancel and terminate Buyer's ’s right to purchase the Property, including all legal and equitable interest, if any, Buyer may have regarding the Property and retain all sums previously preciously paid on the Purchase Price as liquidated damages, or b) elect to recover from Buyer the actual damages incurred by Seller, including loss of the balance of the Purchase PricePrices, costs of resale, attorney's ’s fees, and such other incidental damages as may be lawfully recovered. If BUYER has performed Buyer's ’s obligations under this Contract and Seller fails to perform its obligations under the Contract, then Buyer may, as Buyer's ’s sole and exclusive remedy, terminate Buyer's ’s obligation to purchase the Property, by written notice to Seller, and recovery to Buyer shall be limited to the down payment deposit on the property.