If Buyer Is In Default. If Buyer is in default, Seller may elect to treat this Contract as canceled, in which case all payments and things of value received hereunder shall be forfeited and retained on behalf of Seller, and the Seller may recover such damages as may be proper or the Seller may elect to treat this Contract as being in full force and effect and Seller shall have the right to specific performance or damages, or both. The Brokers shall have an independent right to pursue collection of the Buyer’s Premium from the Buyer. If the Buyer fails to Close by the Closing Date set forth above and an extension of the Closing Date is required, then the Buyer shall pay $100.00 per day as liquidated damages for every day beyond the established Closing Date until the Contract is Closed and the sale finalized.
Appears in 4 contracts
Samples: Contract to Buy and Sell Real Property, Contract to Buy and Sell Real Property, Contract to Buy and Sell Mineral Estate in Real Property
