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costs and expenses incurred by the prevailing party in any such <br /> legal or equitable action. <br /> 12 . Entirety: This contract constitutes the entire <br /> understanding and agreement by and between the parties hereto <br /> and supersedes any and all prior negotiations, written or oral <br /> agreements, understandings , representations , warranties, or <br /> statements at any time made or had by and between the parties <br /> hereto or any representatives or agents by either of the <br /> parties . Except as specifically provided by the terms of this <br /> contract, there are no covenants, agreements, understandings, <br /> warranties , representations , or the like, by and between the <br /> parties, hereto effecting any of the subject matter hereof or <br /> binding upon either of the parties . <br /> (W 13 . Amendment and Waiver : No amendment or modification <br /> hereof shall be deemed valid unless first reduced to writing and <br /> dated and signed by all parties . No waiver of any of the <br /> provisions in this contract shall be valid unless such waiver is <br /> in writing duly executed and dated by the party or parties <br /> sought to be charged therewith. <br /> 14 . Binding Effect : This contract shall be binding upon <br /> and inure to the benefit of the parties, their respective heirs , <br /> successors, and assigns . <br /> 15 . Prorations : All taxes or other special assessments <br /> shall be prorated as of the date of closing . <br /> -13- <br />