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the interpretation thereof, shall be settled by arbitration
to be held in~Denver, Colorado, subject to and in accordance
with the rules of the American Arbitration Association
and/or the laws o~ the State of Colorado in effect at the
time said controversey, claim, or dispute is presented for
arbitration, and shall be submitted to one arbitrator selected {
by mutual agreement of the parties. Should the parties fail
to agree on the choice for arbitrator, the arbitrator will
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be appointed by the American Arbitration Association. The
decision of the Arbitrator shall be final and binding on .the
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parties, both as to law and to the fact, subject to appeals ~
to courts of competent jurisdiction allowed by the rules of
procedure then existing. The expenses of the arbitration
shall be shared equally by DeGroot and Aristek.
(b) Written notice of demand for arbitration
shall be filed with the other party to this Agreement and
with the American Arbitration Association, within a reasonable
time after the dispute has arisen.
6. Any notices, demands and other-communications
required or contemplated hereunder shall be deemed duly
given when mailed by certified mail, return receipt requested,
as follows: if to Aristek, to 1515 Araphoe Street, Denver,
Colorado 80202, Attention: Craig M. Bollman, Jr., with a
copy to Michael Miller, c/o Aristek; and if to DeGroot, to
3944 South Whiting t4ay, Denver, Colorado 80237. Any party
may change its address for notice by notice given in the=-, i
foregoing manner.
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