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36. This contract has been pre-audited in accordance with the provisions of North <br /> Carolina law. <br /> 37. Standing&Authority: Seller represents to Purchaser that Seller is a Corporation <br /> duly organized, validly existing, and in good standing under the laws of the <br /> State of North Carolina. Seller is qualified to transact the business <br /> contemplated herein within the state of North Carolina, and has full power and <br /> authority to execute, deliver, and perform this Contract, and doing so will not <br /> violate any provision of law or contravene any provisions of its internal <br /> governing documents. This Contract and the performance thereof by Seller <br /> have been duly authorized by Seller to the extent that no further authorization of <br /> any third party is necessary to legally bind Seller hereto, and this Contract <br /> together with any accompanying documents being executed by Seller, have <br /> been duly executed on behalf of Seller and constitute the legal, valid, and <br /> binding obligation of Seller, enforceable in accordance with the terms of this <br /> Contract. <br /> 38. Alternative Dispute Resolution: The parties hereby acknowledge and agree that <br /> any and all controversy, claim, dispute, or conflict whatsoever arising out of or <br /> relating to this Contract, or the breach thereof, shall first be submitted to a <br /> process of non-binding dispute resolution called Mediation (as further defined <br /> hereinbelow). <br /> a. Mediation is that process which is described by North Carolina in its <br /> Alternative Dispute Resolution Program through the Dispute Resolution <br /> Commission. The parties agree that they will attempt to agree on a North <br /> Carolina Certified Superior Court Mediator with the understanding that <br /> this list is maintained by the North Carolina Dispute Resolution <br /> Commission. Should the parties be unable to agree, then that mediator <br /> who is next to be assigned on a case by Court Administration in Orange <br /> County will be used as the mediator. The parties shall share the costs of <br /> mediation equally and the parties agree to mediate in good faith. <br /> 39. Cumulative Remedies. Each right, power, and remedy provided for herein or <br /> now or hereafter existing at law, in equity, by statute, or otherwise shall be <br /> cumulative and concurrent and shall be in addition to every other right, power, <br /> or remedy provided for herein or now or hereafter existing at law, in equity, by <br /> statute, or otherwise. <br /> 40. Waiver. The failure of any party to seek redress for violation of or to insist upon <br /> the strict performance of any covenant or condition of this Agreement shall not <br /> waiver such party's right to seek redress at a later date in the absence of written <br /> consent to such waiver. <br /> Sales Agreement Page 8 of 10 <br />