Real Estate Arbs Agreement

REAL ESTATE ARBITRATION AGREEMENT

This Real Estate Arbitration Agreement (the Agreement) is made effective as of Effective Date: by and between Property Owner: and Purchaser: .

Property Identification

Recitals

WHEREAS, the parties are entering into or have entered into a transaction affecting the Property described above; and WHEREAS, the parties desire to resolve disputes arising out of or relating to the Property or the transaction by final and binding arbitration in lieu of litigation, subject to the terms and conditions set forth in this Agreement.

Agreement to Arbitrate

1. Binding Arbitration. Except as expressly provided in Section 2, the parties hereby agree that any and all disputes, claims, controversies or causes of action arising out of or relating to this Agreement, the purchase, sale, ownership, condition, title, financing, escrow, closing, or use of the Property (collectively, Disputes) shall be submitted exclusively to final and binding arbitration in accordance with the terms set forth herein.

2. Exceptions. This Agreement does not require arbitration for claims that a court must adjudicate as a matter of public law, or for actions seeking provisional or emergency injunctive relief to preserve the status quo or to secure real property pending arbitration. Either party may seek such provisional relief in a court of competent jurisdiction; any such request shall not be deemed a waiver of the obligation to arbitrate the underlying dispute.

Scope and Procedures

3. Scope. The arbitration shall resolve all Disputes between the parties, including without limitation claims for breach of contract, fraud, misrepresentation, negligence, breach of fiduciary duty, statutory claims, equitable relief, rescission, and attorney's fees when authorized by contract or statute.

4. Arbitrator Qualifications and Selection. The parties shall attempt to agree on a single neutral arbitrator with substantial experience in real estate law and transactions within 15 days of the filing of the demand for arbitration. If the parties cannot agree within that period, each party shall select one arbitrator and the two selected arbitrators shall appoint a third neutral arbitrator with similar qualifications within 15 days. Absent timely agreement, a neutral arbitrator shall be appointed by a neutral selection authority mutually agreed by the parties or, if none can be agreed, by a retired judge or other impartial professional acceptable to the parties.

5. Rules and Conduct of Arbitration. The arbitration will be conducted under rules adopted by the arbitrator that are consistent with the terms of this Agreement, ensuring a fair opportunity for limited discovery and presentation of evidence. The arbitrator shall have authority to determine admissibility of evidence, schedule hearings, issue subpoenas as allowed by law, and rule on motions. The parties agree to cooperate in expeditious scheduling of any hearing.

6. Discovery Limits. Discovery shall be proportional to the nature of the dispute. Unless the arbitrator orders otherwise, discovery shall be limited to:

• document production reasonably requested and relevant to the dispute;
• no more than two depositions per side without prior approval of the arbitrator;
• exchange of expert reports and supporting data consistent with a reasonable schedule established by the arbitrator.

Location, Timing, and Fees

7. Location of Hearing. The arbitration hearing shall be held in the county where the Property is located unless the parties agree otherwise. Hearing location:

8. Timetable. The arbitrator shall endeavor to render a final written award within 90 days of the close of the hearing, except upon a showing of good cause for an extension. If no hearing is required, the arbitrator shall render an award within 90 days of the closing of written submissions.

9. Costs and Fees. Each party shall pay its own attorneys' fees and costs unless the arbitrator finds that award of fees is warranted by contract or statute. Administrative and arbitrator fees shall be borne as determined by the arbitrator, taking into account the parties' respective financial positions and the circumstances of the dispute. The prevailing party may be awarded reasonable attorney's fees, expert fees, and costs as part of the award where authorized by law or agreement.

Confidentiality and Remedies

10. Confidentiality. Unless otherwise required by law, the parties, the arbitrator, and any arbitration panel shall keep confidential all information and documents produced or exchanged in the course of arbitration, all testimony, and the terms of the award, except that a party may disclose information to the extent necessary to enforce or vacate an award, to comply with legal or regulatory obligations, or in connection with other legal proceedings to the extent required by law.

11. Remedies. The arbitrator shall have authority to grant any remedy that would be available in a court of law, including monetary damages, specific performance, rescission, and declaratory relief, subject to any limitations contained in this Agreement. The arbitrator shall render a reasoned written award and shall include the basis for any award of fees or costs.

Class Action Waiver; Limitation

12. Class Action Waiver. The parties agree that any arbitration shall proceed on an individual basis only and that there shall be no right or authority for any dispute to be arbitrated on a class, collective, or representative basis. Any claim for class or representative relief is waived by the parties.

Disclosures

13. Seller/Owner Disclosures. The Owner represents as of the Effective Date the following information is accurate to the best of Owner's knowledge. Check the applicable box for each item.

Lead-Based Paint Disclosure: Yes No

Known Mold or Water Damage: Yes No

Prior Material Structural or Mechanical Defects: Yes No

Default, Enforcement and Miscellaneous

14. Enforcement. Judgment upon any arbitration award may be entered in any court having jurisdiction. The parties consent to the personal jurisdiction of the courts located in the state where the Property is located for purposes of confirming, vacating, or enforcing an arbitration award.

15. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the state in which the Property is located, without regard to its conflict of laws principles.

16. Severability. If any provision of this Agreement is held invalid or unenforceable, such provision shall be severed and the remaining provisions shall remain in full force and effect.

17. Entire Agreement; Amendment. This Agreement constitutes the entire agreement between the parties with respect to arbitration of Disputes relating to the Property and supersedes all prior negotiations and agreements concerning arbitration. This Agreement may be amended only by a written instrument signed by both parties.

18. Notice. Notices under this Agreement shall be delivered to the addresses below by personal delivery, certified mail return receipt requested, or other nationally recognized overnight courier. Notice to Owner:

Acknowledgment

By signing below, each party acknowledges that they have read and understand this Agreement, had the opportunity to consult with counsel, and voluntarily agree to resolve disputes by arbitration as set forth herein.

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