Stamps.com 2011 Annual Report Download - page 101

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15.2 SELLER'S DEFAULT .
IF SELLER DEFAULTS UNDER THIS AGREEMENT AND FAILS TO COMPLETE
THE PURCHASE AS PROVIDED HEREIN, THEN BUYER SHALL BE ENTITLED, AS ITS SOLE AND EXCLUSIVE REMEDY
(EXCEPT AS PROVIDED BELOW), WHETHER AT LAW OR IN EQUITY, EITHER (A) TO TERMINATE THIS AGREEMENT AND
RECOVER ITS DEPOSIT AND BE REIMBURSED BY SELLER FOR THE OUT-OF-
POCKET COSTS ACTUALLY INCURRED BY
BUYER IN CONNECTION WITH THE NEGOTIATION OF THIS AGREEMENT AND BUYER’
S DUE DILIGENCE FOR THE
PROPERTY IN AN AMOUNT NOT TO EXCEED THIRTY THOUSAND DOLLARS ($30,000) OR (B) IN LIEU OF TERMINATING THIS
AGREEMENT AND RECOVERING ITS DEPOSIT AND OUT-OF-
POCKET COSTS, BUYER SHALL BE ENTITLED TO PURSUE
SPECIFIC PERFORMANCE OF THIS AGREEMENT, AND EXCEPT FOR THE EXTENSION CREDIT AND BUYER RELOCATION
CREDIT SET FORTH IN SECTION 7.2, WITHOUT RIGHT TO ANY DAMAGES OR OTHER EQUITABLE RELIEF WHATSOEVER,
BUT ONLY IF BUYER FILES SUCH SPECIFIC PERFORMANCE ACTION WITHIN SIXTY (60) DAYS FOLLOWING THE
SCHEDULED CLOSING DATE. BUYER SHALL NOT BE ENTITLED TO RECORD A LIEN OR LIS PENDENS AGAINST THE
PROPERTY EXCEPT IN CONNECTION WITH AN ACTION FOR SPECIFIC PERFORMANCE. THE FOREGOING SHALL NOT LIMIT
BUYER'S REMEDIES WITH RESPECT TO SELLER'S OBLIGATIONS UNDER PARAGRAPH 17
OF THIS AGREEMENT OR THE
ATTORNEYS' FEES PROVISION SET FORTH IN PARAGRAPH 18 BELOW. NOTHING IN THIS SECTION SHALL LIMIT BUYER’
S
CLAIMS FOR AN INACCURACY IN ANY SELLER ESTOPPEL.
SELLER'S INITIALS
BUYER'S INITIALS
22