Laserfiche WebLink
majority of the appraisers selected. The costs of the <br />appraisals and appraisers shall be the responsibility <br />of the party requesting termination. <br />(3) Upon the determination of the appraised value of the <br />site and building, the non -terminating party shall pay <br />to the terminating party within 180 days an amount <br />equal to the percentage of the contribution of the <br />terminating party. <br />(4) The party seeking termination shall execute a quit <br />claim deed naming the non -terminating party as the <br />sole fee owner of the site and building in fee simply. <br />Said conveyance shall be clear and free of liens and <br />encumbrances other than easements of record. <br />(5) Any dispute on the termination shall be resolved by <br />binding arbitration. An arbitrator shall be selected <br />from the arbitrator and mediator directory of <br />Minnesota Lawyer publication. In the event an <br />arbitrator cannot be selected by the parties then in <br />that event, either party may motion the Ramsey <br />County District Court for an arbitrator. <br />C. If one party alleges lack of performance by the other party, <br />both parties agree that the issue will be settled in arbitration. <br />