Common use of Mandatory Alternative Dispute Resolution Clause in Contracts

Mandatory Alternative Dispute Resolution. Seller and Purchaser agree to be bound by the Dispute Resolution Procedures set forth in Section 24.12 of the Declaration (the “Procedures”). Seller is referred to as “Declarant” and Purchaser as an “Owner” in the Procedures. The Procedures shall govern all Disputes (as defined therein) between Seller and Purchaser in the manner set forth in the Procedures, which Purchaser acknowledges and agrees contains, among other matters, the requirement of binding arbitration. Initials: Purchaser Seller

Mandatory Alternative Dispute Resolution. Seller and Purchaser agree to be bound by the Alternative Dispute Resolution Procedures set forth in Section 24.12 Article 17 of the Declaration Declaration, which Purchaser has reviewed and accepted pursuant to Section 9.c above (the “Procedures”). (Seller is referred to as “Declarant” and Purchaser as an “Owner” in the Procedures. .) The Procedures shall govern all Disputes (as defined therein) between Seller and Purchaser in the manner set forth in the Procedures, which Purchaser acknowledges and agrees contains, among other matters, the requirement of binding arbitration. Initials: Purchaser Seller