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JAN.2E.1997 E~SBAM <br />17. Notices. All notices or other communications required or germitt <br />Agreement shall be in writing and shall bc (a) personally delivered (iacluding <br />professional messenger service), which notices and communications shall be deeme <br />receipt at the office of tI~e addressee; (b) sent by reg.istered or certified mail, postage ~ <br />receipt requested, which notices and communicat~ons shall be deemed received th <br />deposrt in the Unired States mail; (c) sent by overnight delivery using a national~ <br />ovemight courier service, which notices and communications shall be deemed <br />business ~ay after deposit with such courier; or (d) sent by telefax, which <br />communications shall be deemed received on the delivering party's receipt of a <br />confuination. Notice of change of address shall be given by written notice in the m~ <br />i.n this paragraph. <br />~ 16. Damage or Destruction; Condemnation. Until commencement ' f demolition <br />of the existing buildings, the risk of loss shall be retained by Che Seller, except as may otherwise be <br />provided in the Development Agreement, Ground Lease or the Declaration and Byla s. The Seller <br />shall keep the Real Propeny fully insured prior to and following close of escrow, e cept as msy <br />otherwise be provided in the Development Agreement, Ground Lease or the De laration and <br />Bylaws. , <br />In the event all or any material portion of the Real Property is dFUnaged, ~ <br />condemned or threatened with condemnation before the Closing Date, the Buyer may ~ <br />Agreement. In such event, escrow will be term.inated, the carnest money deposit anc <br />be promptly returned to the Buyer, and this Agreement shall have no further fo <br />whatsoever. If a nonmaterial portion of the Real Property is destroyed or conc <br />Agreement shall remain in full force and effect, including, without limitation, <br />obligation to close this transaction as provided for here and to pay the full purchasE <br />Seller. Tn such event, the Buyer shall be assigned all insurance proceeds or condemua~ <br />payable to or for the account of the Seller. <br />~ <br />To Buyer: R.G. Andersen-Wyckoff With a Copy to: <br />G~eneral Manager <br />Salem Area Mass Transit Distiict <br />3140 Del Webb Ave NE <br />Salem, OR 97303-4165 <br />To Seller. Randy Curtis With a Copy to: <br />Director, Depamnent of General Services <br />M9rion County <br />200 High St NE <br />Salem, OR 97301 <br />N0.5~~ P.li <br />esuoyea, or <br />;rm.inate this <br />Interest will <br />ee or effect <br />~mned, this <br />the Buyer's <br />price to the <br />on proceeds <br />i under this <br />y means of <br />received on <br />;paid, return <br />e days after <br />recognited <br />:eeived one <br />iotices and <br />;ansmission <br />ner detailed <br />Ben C. Fetherstor~, 7r. <br />PO Box 2206 I <br />Salem, OR 97308 "' <br />Michael Hansen i <br />530 Center St NE i <br />Salem, OR 97301 I <br />18. Required Actions of Buyer and Seller. TUe Buyer and the Se er agree to <br />execute all such instruments and documents and to take aIl actions pursu~nt to the p ovisions of <br />this Agreement i.n order to concummAte the purchase and sale contemplated and shall e their best <br />efforts to accom~lish the close of escrow in accordance with the provisions here. <br />19. En~ry. The Buyer, its agents, and designees shall have reasonable a cess to the <br />Real Properry for the sole purpose of confirming that it is in substantially the same ~ondition at <br />~ Purchase and SaIe Agreement <br />Salem Area Mass TYansit DistrictlMazion Councy <br />Page - 10 <br />0128970748 <br />