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such requirements as may be imposed by the Architectural Control Committee in connection with the issuance of Committee approval shall not create a presumption that such planned improvement is in accordance with such requirements as may be imposed by the City of Centerville in connection with the issuance of a building permit upon the Lot. In the event the approval of the Committee is not obtained within the 10 -day period and a dispute exists between an Owner and the Committee in regard to a proposed improvement requiring Committee approval, the matter shall be determined by arbitration in the following manner: (a) Either party may, by written notice on the other within the 10 -day period required for approval or disapproval of plans and specifications, appoint an arbitrator, which appointment shall be noted in writing to the other party. The other party shall, by written notice within 5 business days after receipt of such notice by the first party, appoint a second arbitrator, and in default of such second appointment, the first arbitrator appointed shall be the sole arbitrator. (b) When 2 arbitrators shall have been appointed as hereinabove provided, they shall, if possible, agree on a third arbitrator and shall appoint him by written notice, signed by both of them, with a copy mailed to each party herein, within 5 business days after such appointment. (c) In the event 5 business days shall elapse after the appointment of the second arbitrator without notice of appointment of a third arbitrator as hereinabove provided, then either party or both may, in writing, within 10 days after the original appointments, request the Chief Judge of the District Court of the County of Anoka, State of Minnesota, to appoint the third arbitrator. (d) On appointment of 3 arbitrators as hereinabove provided, such arbitrators shall hold an arbitration hearing, at such place as they may designate and within 30 days after such appointments. At the hearing, the rules of evidence of the State of Minnesota shall apply and the 3 arbitrators shall allow each party to present its case, evidence and witnesses, if any, in the presence of the other party, and shall render their decision, including a provision for payment of costs and expenses of arbitration to be paid by one or both of the parties hereto as the arbitrators deem just. Any costs and expenses charged to the Committee shall be paid by the Association. (e) The decision of the majority of the arbitrators shall be binding on the parties hereto. ARTICLE IV Restrictions Applicable to Lots 4.1 No Lot shall be used except for residential purposes; no Living Unit shall be erected, altered, placed or permitted to remain on any Lot other than one single - family dwelling, not to exceed 2 stories in height, at front elevation, and an attached garage for at least 2.5 cars, and on- site parking spaces to accommodate at least 2 cars. No garages shall be erected on any site 5