WAIVER OF SPECIFC PERFORMANCE REMEDY Sample Clauses

WAIVER OF SPECIFC PERFORMANCE REMEDY. As a material part of the consideration to be paid or received by Buyer and Seller under the Agreement, Buyer waives all rights to file and maintain an action against Seller for specific performance and to record a Lis Pendens or notice of pendency of action against the Property if a dispute arises concerning the Agreement. Buyer agrees that the Property is not unique and in the event of Seller’s default, Buyer can be adequately and fairly compensated solely by receiving a return of ▇▇▇▇▇▇▇ Money Deposit and cancellation of Buyer’s obligation to purchase the Property. Upon return of the ▇▇▇▇▇▇▇ Money Deposit to Buyer, the Agreement shall be terminated, and Buyer and Seller irrevocably instruct the Closing Agent to return all funds and documents to the party that deposited them without further direction.