MEDIATION/ARBITRATION: In the event that Owner and Contractor cannot first agree between themselves to a resolution of any dispute or claim, Owner and Contractor agree that all disputes, claims and controversies between them arising from this Agreement or otherwise, shall first be submitted to mediation/conciliation through the _____________________ of _______ County, under rules then in effect. If after mediation/conciliation the dispute has not been resolved, it shall be resolved by binding arbitration pursuant to the provisions of ______________. The arbitration shall be conducted in ________, ______________ by a disinterested and impartial arbitrator, mutually agreed upon by the parties, who has knowledge and expertise in real estate, building and construction matters. If the parties cannot agree on an arbitrator, the arbitrator shall be selected by the then sitting Administrative Judge of the _____________________. The parties agree to equally share the fees of the arbitrator. The parties further agree that such arbitration shall be conducted in accordance with ______________’s Rules of Civil Procedure and Rules of Evidence, and that the findings and conclusions of the arbitrator shall be binding and enforceable upon both parties. The commencement of an arbitration proceeding shall be deemed the commencement of an action for purposes of determining any applicable statute of limitations. Notwithstanding the above, Contractor may still enforce against Owner any and all mechanic's lien rights, including an action for foreclosure, without resort to arbitration.
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