12-03-2004 Reformed Easement Agreement

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execute any such Declaration as soon as practicable as requested in writing by Peters, or his heirs and assigns and delivered by certified mail.. 7. Dispute Resolution. Any controversy or claim arising out of or relating to the terms of this Agreement or the breach of this Agreement shall be settled according to the terms of this Section 7. The parties to this Agreement or their heirs or assigns (within this Section 7 referred to as party or parties) shall attempt in good faith to resolve as soon as practicable any dispute arising out of or relating to this Agreement utilizing the following procedure: 7.1 Negotiations. The party alleging a controversy, claim or breach of this Agreement will notify the other party in writing and send by certified mail a request to meet and stating the nature of the dispute, all facts in evidence supporting the veracity of the claim, controversy or breach and the proposed solution to the dispute. The parties shall then meet within thirty (30) business days or as soon as practicable after the request by the alleging party at a mutually acceptable time and place to attempt to resolve the dispute. 7.2 Arbitration. If the matter cannot be resolved at, or within thirty (30) business days after such meeting, the parties agree: (i)to arbitrate the dispute in accordance with the Commercial Arbitration Rules of the American Arbitration Association in Minneapolis, Minnesota; (ii)to equally pay the cost of arbitration; (iii) a judgment upon the award rendered by the arbitrator(s)may be entered in any court having jurisdiction thereof; (iv)the arbitration award shall be subject to review only in the manner provided in the Uniform Arbitration Act as adopted in Chapter 572, Minnesota Statutes, as the Act is amended at the time of submission of the issue to arbitration; and (v)the arbitrator(s) shall have the authority, but not the requirement, to award the prevailing party its costs and reasonable attorney's fees which if awarded,the non-prevailing party shall pay. IN WITNESS WHEREOF, the parties have signed their hands the date first above written. a . Ronald . Dudley Frederick C. Peters tieirte , Patricia A. Dudley STATE OF MINNESOTA ) ) ss. COUNTY OF HENNEPIN )