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condition precedent to initiating arbitration or legal or equitable actions by either party. Unless the parties <br />agree otherwise, the mediation shall be in accordance with the Commercial Mediation Procedures of the <br />American Arbitration Association then currently in effect. A request for mediation shall be filed in writing <br />with the American Arbitration Association and the other party. No arbitration or legal or equitable action <br />may be instituted for a period of ninety (90) days from the filing of the request for mediation unless a longer <br />period of time is provided by agreement of the parties. Cost of mediation shall be shared equally between <br />the parties. Mediation shall be held in the City of Elk River unless another location is mutually agreed upon <br />by the parties. The parties shall memorialize any agreement resulting from the mediation in a Mediated <br />Settlement Agreement, which Agreement shall be enforceable as a settlement in any court having <br />jurisdiction thereof. <br />25. Conflicts. No salaried officer or employee of the City and no member of the City Council of the City shall <br />have a financial interest, direct or indirect, in this Agreement. The violation of this provision renders the <br />Agreement void. Any federal regulations and applicable state statutes shall not be violated. <br />26. Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be <br />considered an original. <br />27. Entire Agreement. This Agreement constitutes the entire agreement of the parties and supersedes all prior <br />communications, understandings and agreements relating to the subject matter hereof, whether oral or <br />written. <br />28. Governing Law. This Agreement shall be controlled by laws of the State of Minnesota. Executed as of <br />the day and year first written above. <br />City of Elk River <br />Mayor <br />City Clerk <br />www <br />Its: q� iP6TAa. �QYw�P.V G�ti <br />