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<br />. <br /> <br />. <br /> <br />1 <br /> <br />BUYER's initials JiJ'f <br /> <br />3 15. PERMITS AND LICENSES (S) <br /> <br />5 BUYER shall be required to obtain any and all permits and/or licenses which may be required in connection <br />with the purchase and/or subsequent development of the property. No permit, approval, or consent given to <br />7 BUYER by SELLER, in its governmental capacity, shall affect or limit ~UY:ER's obligations hereunder. No <br />approvals or consents given by SELLER, as a party to this agreement, shall be deemed approval as to <br />9 compliance or conformance with applicable governmental codes, laws, or regulations. <br /> <br />11 16. ASSIGNMENT (S) <br /> <br />13 This agreement shall not be sold, assigned, or otherwise transferred by BUYER without the prior written <br />consent of SELLER. Failure to obtain SELLER's required written consent shall render such sale, <br />15 assignment, or transfer void. <br /> <br />17 17. SUCCESSORS IN INTEREST (S) <br /> <br />19 Subject to the restrictions contained in the Clause (ASSIGNMENT), this agreement shall inure to the benefit <br />I (of 2J.'1.d be binding upon the parties hereto and their respective heirs, successors, and assigns. <br /> <br />21 <br /> <br />18. PARTIAL INVALIDITY (S) <br /> <br />23 <br /> <br />This agreement shall be governed by and construed according to the laws of the State of California. The <br />25 invalidity of any provision in this agreement, as determined by a court of competent jurisdiction, shall in no <br />way affect the validity of any other provision hereof. <br /> <br />27 <br /> <br />19. BROKER'S COMMISSION (N) <br /> <br />29 <br /> <br />31 <br /> <br />BUYER is not represented by a real estate broker and does not request that SELLER pay a commission. <br />BUYER's initials 7'* <br /> <br />33 - <br /> <br />20. NOTICES <br /> <br />35 <br /> <br />All notices, documents, correspondence, and communications concerning this purchase and sale shall be <br />37 addressed as set forth below, or as hereafter designated by written notice, and shall be sent through the <br />United States mail, duly registered or certified with postage prepaid. Any such mailing shall be deemed <br />39 served or delivered twenty-four (24) hours after mailing. Notwithstanding the above, SELLER may also <br />provide notices, documents, correspondence, or such other communications to BUYER by personal delivery <br />41 or by regular mail and, so given, shall be deemed to have been given upon receipt. <br /> <br />43 <br /> <br />45 <br /> <br />47 <br /> <br />49 <br /> <br />CEOICiry of SAIPwd\ase Agreement <br />CEO/PCICEo.<l2.oo2 <br /> <br />Page 5 of7 <br /> <br />J~l'.2002 <br />Fomsl Paul P-azt Pun:hasc Apa;mcm <br />