Common use of Mediation of Disputes; Jurisdiction, Venue and Service of Process Clause in Contracts

Mediation of Disputes; Jurisdiction, Venue and Service of Process. No MPF Bank nor the MPF Provider shall institute a proceeding before any tribunal to resolve any controversy or claim arising out of or relating to the Agreement, or the breach, termination or invalidity thereof (a “Dispute”), before such party has sought to resolve the dispute through mediation. If the parties do not promptly agree on a mediator, either party may request the then Chairman of the Board of the Federal Housing Finance Board to appoint a mediator. All mediation proceedings under the Agreement shall be held in Washington, D.C. or such other location as the parties may agree upon. If the mediator is unable to facilitate a settlement of the Dispute within a reasonable time, as determined by the mediator, the mediator shall issue a written statement to the parties to that effect and the complaining party may then pursue any other remedy available to it at law or in equity. The fees and expenses of the mediator shall be paid by the party initiating mediation. The MPF Bank hereby consents to the exercise of jurisdiction over its person and its property by any court of competent jurisdiction situated in the State of Illinois (whether it be a court of the State of Illinois or a court of the United States of America situated in Illinois) for the enforcement of this Agreement or in any other controversy, dispute or question arising hereunder, and the MPF Bank hereby waives any and all personal or other rights to object to such jurisdiction for such purposes. The MPF Bank, for itself and its successors and assigns, hereby waives any objection which it may have to the laying of venue of any such action, suit or proceeding in any such court; provided, that the provisions of this paragraph shall not be deemed to preclude any other appropriate forum. If such litigation is commenced at any time, the MPF Bank agrees that service of process may be made, and personal jurisdiction over the MPF Bank obtained, by service of a copy of the summons, complaint and other pleadings required to commence such litigation by United States certified or registered mail, return receipt requested, addressed to the MPF Bank at its address for notices as provided in this Agreement. The MPF Bank waives all claims of lack of effectiveness or error by reason of any such service.

Mediation of Disputes; Jurisdiction, Venue and Service of Process. (a) No MPF Bank nor the MPF Provider party to this Agreement shall institute a proceeding before any tribunal to resolve any controversy or claim arising out of or relating to the Agreement, or the breach, termination or invalidity thereof (a “Dispute”), before such party has sought to resolve the dispute Dispute through mediationa Dispute review. The president of each party, or his or her designee, involved in a Dispute shall meet (by conference call or in person at a mutually agreeable site) to endeavor to resolve any Dispute. If the Dispute cannot be resolved, the parties agree to submit the Dispute to mediation and to do their best to select a mutually acceptable mediator. If the parties do not promptly agree on a mediator, either party may request the then Chairman sitting Chief Judge of the Board of the Federal Housing Finance Board United States District Court in Washington D.C. to appoint a mediator. All mediation proceedings under the Agreement shall be held in Washington, D.C. or such other location as the parties may agree upon. If the mediator is unable to facilitate a settlement of the Dispute within a reasonable time, as determined by the mediator, the mediator shall issue a written statement to the parties to that effect and the complaining party may then pursue any other remedy available to it at law or in equity. The fees and expenses of the mediator shall be paid shared equally by the parties to the mediation. (b) Each party initiating mediation. The MPF Bank hereby hereto consents to the exercise of jurisdiction over its person and its property by any court of competent jurisdiction situated in the State of Illinois (whether it be a court of the State of Illinois or a court of the United States of America situated in Illinois) for the enforcement of this Agreement or in any other controversy, dispute or question arising hereunder, and the MPF Bank parties hereby waives waive any and all personal or other rights to object to such jurisdiction for such purposes; provided, that any Dispute over which a federal court would have jurisdiction must be litigated only in federal court. The MPF BankEach party hereto, for itself and its successors and assigns, hereby waives any objection which it may have to the laying of venue of any such action, suit or proceeding in any such court; provided, that the provisions of this paragraph shall not be deemed to preclude any other appropriate forum. If such litigation is commenced at any time, the MPF Bank each party agrees that service of process may be made, and personal jurisdiction over the MPF Bank such party obtained, by service of a copy of the summons, complaint and other pleadings required to commence such litigation by United States certified or registered mail, return receipt requested, addressed to the MPF Bank such party at its address for notices as provided in this Agreement. The MPF Bank Each party hereto waives all claims of lack of effectiveness or error by reason of any such service.