In the event that damages are awarded to the Seller by the Board of Arbitration and are not paid on the date that the award is made, then all operations of the Purchaser shall immediately cease, and if the award is not paid or satisfied within 30 days after the date of award, the Seller may take immediate possession of the premises upon which the timber is located, shall retain as liquidated damages all money paid by the Purchaser, and the title to all timber shall revert to and become the property of the seller.
In witness whereof, the parties hereto have set their hands and seals this __________ day of ______________________ 20____.
WITNESSES:
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for the Purchaser Purchaser
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for the Seller Seller