Township Council Meeting — Packet

ARTICLE 5. DEFAULT 5.1 In the event that BUYER defaults under this Contract, SELLER shall be entitled to be reimbursed for any and all expenses, including reasonable attorneys fees, caused by the Default, including time spent in the drafting of Contract documents, sale negotiations and actions necessary as a result of such Default. 5.2 In the event SELLER defaults under the Contract, BUYER shall be entitled to be reimbursed for any and all expenses, including reasonable attorneys fees, caused by the Default, including time spent in the drafting of Contract documents, sale negotiations and actions necessary as a result of such Default. BUYER shall not be entitled to any lost profits or other damages in anticipation of performing the Contract. ARTICLE 6. BUYER'S REPRESENTATIONS BUYER makes the following representations: 6.1 BUYER has obtained the necessary municipal approvals for purchase of the Vehicle, including passage of any and all necessary resolutions for the effectuation of such sale. 6.2 BUYER acknowledges that, except as provided in Paragraph 4.3 above, BUYER acknowledges that it is acquiring the Vehicle “AS IS”, “WHERE IS”, and “WITH ALL FAULTS,” and THAT there are no warranties of merchantability or fitness or suitability of the Vehicle and its accessories for any particular purpose.” 6.3 BUYER acknowledges that it has the obligation to register the Vehicle with the New Jersey Department of Motor Vehicles, and pay any applicable fees or taxes to New Jersey. Additionally, BUYER affirmatively represents that it has obtained liability insurance for the Vehicle on or prior to the Delivery Date and that, by taking possession of the Vehicle, represents that SELLER no longer has a legal or insurable interest in the Vehicle. BUYER also acknowledges that, as of the Delivery Date, it is solely responsible for any liability to third parties with respect to the Vehicle which may occur at or after the time the Vehicle entered into BUYER’S possession. ARTICLE 7. SELLER’S REPRESENTATIONS SELLER makes the following representations: 7.1 SELLER has obtained the necessary municipal approvals for sale of the Vehicle, including passage of any and all necessary resolutions for the effectuation of such sale.