Common use of Arbitration of Dispute Clause in Contracts

Arbitration of Dispute. Any controversy arising among Unit Owners or between a Unit Owner and the Board concerning the rights and obligations of any party under the terms of this Declaration shall be determined by binding arbitration by and under the commercial rules of the American Arbitration Association ("Commercial Rules"). Arbitration hearings shall be held in the City and County of San Francisco. Any such controversy shall be arbitrated by a single arbitrator, who shall be an impartial real estate professional or lawyer having not less than ten years experience developing, managing or representing owners of commercial office properties in the San Francisco area. The arbitrator shall be appointed under the Commercial Rules and shall determine the controversy in accordance with applicable law, the intention of the parties as expressed in the Declaration and any amendments thereto and the evidence produced at the arbitration hearing. Pre-arbitration discovery shall be permitted in accordance with the Commercial Rules or California law applicable to arbitration proceedings. The arbitrator's determination shall be rendered within thirty days after the conclusion of the hearing and may include an award of attorneys' fees and costs to the prevailing party. By accepting title to a Unit, each Unit Owner agrees to be bound by the provisions of this Section 12.13. WHEREFORE, this Declaration has been executed in San Francisco, California as of the date first written above. BAY AREA HEADQUARTERS AUTHORITY By: Executive Director By: Treasurer-Auditor Approved as to form: General Counsel W02-WEST:FJS\404501195.6 -49- Appendix 2 THIS PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (this "Agreement") is made and entered into as of the day of , 2013 by and between BAY AREA HEADQUARTERS AUTHORITY, a joint powers authority established pursuant to the California Joint Exercise of Powers Act ("BAHA"), and ASSOCIATION OF BAY AREA GOVERNMENTS, a joint powers authority established pursuant to the California Joint Exercise of Powers Act ("ABAG"). IN CONSIDERATION of the respective agreements hereinafter set forth, BAHA and ABAG hereby agree as follows: