Unformatted text preview: ng with no more than four units, one of which Buyer
intends to occupy, then the amount retained shall be no more than 3% of the purchase price. Any excess shall be returned
to Buyer. Release of funds will require mutual, Signed release instructions from both Buyer and Seller, judicial decision or
arbitration award. AT TIME OF THE INCREASED DEPOSIT BUYER AND SELLER SHALL SIGN A SEPARATE LIQUIDATED
DAMAGES PROVISION FOR ANY INCREASED DEPOSIT. (C.A.R. FORM RID).
26. DISPUTE RESOLUTION:
A. MEDIATION: Buyer and Seller agree to mediate any dispute or claim arising between them out of this Agreement, or any resulting transaction,
before resorting to arbitration or court action. Buyer and Seller also agree to mediate any disputes or claims with Broker(s), who, in writing,
agree to such mediation prior to, or within a reasonable time after, the dispute or claim is presented to the Broker. Mediation fees, if any,
shall be divided equally among the parties involved. If, for any dispute or claim to which this paragraph applies, any party (i) c...
View Full Document
- Spring '11
- Arbitration, buyer, seller, Buyer and Seller