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the notice of termination). Upon such termination, the Deposit shall be retained by the EDA and
the parties will have no further rights and obligations hereunder, except for those rights and
obligations that expressly survive the termination of this Contract. Upon the occurrence and
continuance of any event of default described in Section 5.1 after Closing with respect to any
covenant that survived Closing, EDA shall have available to it all other rights and remedies
provided in this Contract, the Deed, and/or the Development Agreement, as applicable, or at law
or in equity, subject to Section 5.4 below.
Section 5.3. . Default by EDA; Remedies for Default by EDA.
Purchaser鈥檚 sole remedy for an event of default under this Contract by EDA prior to
Closing shall be to terminate this Contract by giving written notice of such termination to EDA, in
which case this Contract shall terminate as of the date specified in such notice (which date shall
be on or after the date of the notice of termination). Upon such termination, the Deposit shall be
returned to the Purchaser and the parties will have no further rights and obligations hereunder,
except for those rights and obligations that expressly survive the termination of this Contract.
Upon the occurrence and continuance of any event of default under this Contract by the EDA after
Closing, Developer shall have available to it all other rights and remedies provided in this Contract,
the Development Agreement, and/or the Deed, or at law or in equity.
Section 5.4. Limitation on Remedies; Attorney鈥檚 Fees.
Notwithstanding anything to the contrary herein, in no event shall either Party be liable for
consequential or punitive damages hereunder. Remedies under this Contract shall be cumulative
and not restrictive of other remedies. The prevailing Party in any action or proceeding to enforce
the terms of this Contract shall be entitled to recover from the unsuccessful Party all reasonable
costs and expenses actually incurred by the prevailing Party, including reasonable attorney鈥檚 fees
incurred therein.
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