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