Agenda - 08-27-2012 - C1 - Laserfiche WebLink

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9.17 Execution in Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, and all of such counterparts shall constitute one Agreement. To facilitate execution of this Agreement, the parties may execute and exchange by telephone facsimile counterparts of the signature pages. 9.18 Arbitration and Mediation. Any dispute between Purchaser and Seller, whether sounding in contract, tort, or otherwise, shall be resolved by binding arbitration. Unless the parties agree to use other rules, or the arbitrator deems other rules to be applicable, the arbitration shall be conducted in accordance with the Construction Industry Arbitration Rules of the American Arbitration Association ("AAA") in effect at the time the demand for arbitration is filed, and either the Federal Arbitration Act (Title 9, U.S, Code) or the applicable state arbitration statute. Such claims, disputes or causes of action, include, but are not limited to,those arising out of this Agreement and any other rights, obligations or agreements between Purchaser and Seller relating to this Agreement or the Property ("the Dispute"). After a demand for arbitration has been filed and the filing fee paid, any party may require that the Dispute be submitted to mediation prior to commencement of the final arbitration hearing. If the Dispute is not resolved by mediation, then the arbitration proceeding shall continue to conclusion. The arbitration award or decision may be confirmed, entered and enforced as a judgment in a court having jurisdiction, subject to appeal only in the event of the arbitrator's misapplication of the law,no evidence to support the award,or such other grounds for appeal of arbitration awards that exist by statute, common law or the applicable rules. This arbitration provision shall survive closing, breach or termination of this Agreement and shall not be superseded by the doctrine of merger. -l4-