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Operations Plan is in effect it becomes possible to revert to some or all of the original <br /> Approved Management and Operations Plan and still remain in Coverage Standard <br /> Compliance,then Owner will provide written notice of that fact to the City and provide a <br /> proposed new Substitute Approved Management and Operations Plan for City approval, <br /> which approval will not be unreasonably withheld or delayed. The parties recognize that <br /> three examples that could cause this to occur are(A)improvements in operations that <br /> reduce expenses,(B)reduction or elimination of the need for Coverage Standard <br /> Compliance under Section 10.5 above or(C)availability of new or increased compatible <br /> subsidies. If new or increased compatible subsidies are available,Owner shall promptly <br /> apply and pursue such subsidies,and Owner shall enter into and perform any contracts <br /> required to obtain and maintain such subsidies. <br /> 10.7 Resident Leases. If there is a loss of Subsidies,no existing <br /> resident's lease will be terminated solely on account of such loss of subsidy and any lease <br /> terminations shall be in compliance is applicable law and regulations. <br /> 10.8 Arbitration. If the City and Owner have a dispute under this <br /> Section 10,the dispute shall be determined by arbitration in Everett, Washington,under <br /> the American Arbitration Association(AAA)Commercial Arbitration Rules with <br /> Expedited Procedures in effect on the date hereof, as modified by this agreement. There <br /> shall be one arbitrator selected by the parties within seven days of the arbitration <br /> demand or if not,then pursuant to the AAA Rules,who shall be an attorney with at least <br /> five years real estate finance experience. Any issue about whether a claim must be <br /> arbitrated pursuant to this provision shall be determined by the arbitrator. At the <br /> request of either party made not later than 75 days after the arbitration demand,the <br /> parties agree to submit the dispute to nonbinding mediation which shall not delay the <br /> arbitration hearing date. There shall be no substantive motions or discovery, except the <br /> arbitrator shall authorize such discovery as may be necessary to ensure a fair hearing, <br /> which shall be held within 120 days of the demand and concluded within two days. <br /> These time limits are not jurisdictional. The arbitrator shall apply substantive law and <br /> may award injunctive relief or any other remedy available from a judge including <br /> attorney fees and costs to the prevailing party,but the arbitrator shall not have the <br /> power to award punitive damages. <br /> [Signatures on the following page.] <br /> 15 <br /> 77 <br />