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Page 5 of 6 Minnesota Uniform Conveyancing Blanks Fonn 30.1.1 <br />15. Notice of Assignment. If either Seller or Purchaser assigns its interest in the Property, the assigning party shall promptly furnish <br />a copy of such assignment to the non-assigning party. <br />16. Protection of Interests. If Purchaser falls to pay any sum of money required under the terms of this Contract or falls to perform <br />any of the Purchaser's obllgatlons as set forth In this Contract, Seller may, at Seller's option, pay the same or cause the same to be performed, <br />or both, and the amounts so paid by Seller and the cost of such performance shall be payable at once, wlth Interest at the rate stated In <br />paragraph 4 of this Contract, as an additional amount due Seller under this Contract. If there now exists, or If Seller hereafter creates, suffers <br />or permits to accrue, any mortgage, contract for deed, lien or encumbrance against the Property which Is not herein expressly assumed by <br />Purchaser, and provided Purchaser is not In default under this Contract, Seller shall timely pay all amounts due thereon, and if Seller falls to do <br />so, Purchaser may, at Purchaser's option, pay any such delinquent amounts or take any actions reasonably necessary to cure defaults there <br />under and deduct the amounts so paid together with interest at the rate provided In this Contract from the payments next coming due under <br />this Contract. <br />17. Defaults and Remedies. The time of performance.by Purchaser of the terms of this Contract is an essential part of this Contract. <br />If Purchaser falls to timely perform any term of this Contract, Sell.er may, at Seller's option, elect to declare this Contract cancelled and <br />terminated by notice to Purchaser In accordance with applicable law or elect any other remedy available at law or In equity. If Seller elects to <br />terminate this Contract, all right, title, and Interest acquired under this Contract by Purchaser shall then cease and terminate, and all <br />Improvements made upon the Property and all payments made by Purchaser pursuant to this Contract (Including escrow payments, if any) <br />shall belong to Seller as liquidated damages for breach of this Contract. Neither the extension of the time for payment of any sum of money to <br />be paid hereunder nor any waiver by Seller of Seller's rights to declare this Contract forfeited by reason of any breach shall In any manner <br />affect Seller's right to cancel this Contract because of defaults subsequently occurring, and no extension of time shall be valid unless agreed to <br />In writing. After service of notice of default and failure to cure such default within the period allowed by law, Purchaser shall, upon demand, <br />surrender possession of the Property to Seller, but Purchaser shall be entitled to possession of the Property until the expiration of such period. <br />Failure by Seller to exercise one or more remedies available under this paragraph 17 shall not constitute a waiver of the right to exercise such <br />remedy or remedies thereafter. <br />18. Binding Effect. The terms of this Contract shall run with the land and bind the parties hereto and the successors In Interest. <br />19. Headings. Headings of the paragraphs of this Contract are for convenience only and do not define, limit, or construe the contents <br />of such paragraphs. <br />20. Additional Terms: Check here if ■ an addendum to this Contract containing additional terms and conditions Is attached hereto. <br />Seller <br />(slgnoruroJGregory C, v.Jfi1te 0